The Endowment Fund of Saint Barbara Greek Orthodox Church was established in 1963 with the vision to enable our community “to become financially independent and provide necessary funding to allow our church to better serve its communicants in the religious, educational and ethnic fields of endeavor.” As is traditional with all endowment funds, only the income from donor gifts is used for the needs of the community. Gifts from parishioners to the Endowment Fund ensure a strong permanent endowment, and help to expand and sustain the objectives of Saint Barbara Greek Orthodox Church. Endowment opportunities include college scholarships, community development, landscaping maintenance and improvement, church infrastructure, and funds in support of the Church’s educational activities for members of all ages.
Gifts made to the endowment are invested by the Endowment Fund Board. Since it is only the income from the principal that is expended, the donor’s gift remains invested in perpetuity, helping to safeguard the Saint Barbara Church tradition of excellence in serving its community and its outreach. In certain circumstances, the income from their endowed gift is donor-restricted for a particular purpose, otherwise, the Endowment Fund Board determines the distribution of earnings. In 1997, the Endowment Fund Board adopted a spending policy that provided a total of $20,000 a year towards four community development goals: Clergy Development, Parent Teacher Organization (PTO) activities, Community Development and Saint Barbara Scholarships.
The Endowment Fund grew substantially for nearly fifty years from a combination of new gifts and their subsequent investment performance. The scholarship program began in 1989 with an endowed bequest and has now grown to include twenty-one separately-named annual scholarships. In addition, the Endowment Fund has assisted the construction of new facilities over the past twenty-five years and looks forward to serving the continued needs of the vibrant and growing community for the next generations. The Endowment Fund activities reflect the generosity of its dedicated supporters, and the dedication of the Endowment Fund Board to the community of Saint Barbara. The Endowment Fund is managed by its Board with members appointed by the Parish Council, and includes ex officio members, namely Father Peter as the parish priest, and the President and Treasurer of the Parish Council.
Please consider a gift to the Endowment Fund now, so that you can help establish a foundation for the future and ensure the growth of our community programs for many years to come. Since 2008, the Saint Barbara Greek Orthodox Church Endowment Fund has been a separate tax–exempt organization. As such, it may receive tax deductible contributions, tax deductible bequests, devices, and transfer of gifts, under section 2055, 2106, or 2522, of the Internal Revenue Code.
Ways to Give
Parishioners and friends of the community of Saint Barbara could make gifts to the Endowment Fund with many kinds of assets and in a variety of forms. Options include cash, checks, gifts of marketable securities, and other assets. There are several opportunities for donating to the Endowment Fund as follows:
Unrestricted gifts are welcomed or gifts can be added to existing named funds.
Endow a Scholarship - Perhaps you and your family want to establish a scholarship in memory of a loved one. With a $10,000 minimum contribution to the Endowment Fund, a new scholarship fund can be established.
Contribute to a Building Project - Make a gift, to build and improve the church campus facilities, sustain a comprehensive range of youth and adult programs, or help us complete our master plan for our community.
Planned Giving - There are a variety of ways that your estate planning can benefit the Endowment Fund. With a planned giving strategy tailored to the donor’s needs, the donor’s taxable estate is minimized and the named beneficiary’s gift (such as the Endowment Fund) is maximized. Bequests (in wills), life insurance and 401K beneficiaries, and charitable annuity trusts are just a few of the planned giving strategies that you should consider with the help of your tax advisor.
Parishioners and friends of the community who may be interested to make a gift the Endowment Fund in the ways described here, may contact Father Peter Orfanakos or the Endowment Fund Board of Trustees as follows:
St. Barbara Greek Orthodox Church Endowment Fund Inc.
c/o Saint Barbara Greek Orthodox Church
480 Racebrook Road
Orange, CT 06477
Or, by confidential email, email@example.com
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