Endowment Fund

The First Unitarian Church of San José is establishing an Endowment Fund to help assure the long-range financial future of the church, to fund capital needs, and to fund special projects that further the mission of the church in the community and the world at large.

The fund will be governed by a Planned Giving Committee, appointed by the Board. The idea is to build a fund that will continue to grow over time, while some proceeds from investment of the fund are used to further our church’s mission.

The Endowment will be set up with two funds: an Unrestricted Reserve Fund and a Building Reserve Fund. Gifts and bequests to the Endowment may be designated for either of the funds, and the church may also make allocations to either fund, as budgets allow.

The Unrestricted Reserve Fund can be used for any purpose to further the mission of the church, in the community and in the world at large, but will not be used for the ordinary and customary operating expenses of the Church, except in limited circumstances.

The Building Reserve Fund can only be used to help pay for major capital expenditures and significant improvement projects related to the church’s buildings and real property, including grounds and landscaping, over and above regular maintenance.

No disbursements from the fund will be authorized for the first five years or $1 million, whichever comes first.

Do you have questions? Talk to members of the Finance Committee and Bob Howd.