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
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
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
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
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
December 2012 Update
Opportunities for Giving
The approaching end of the calendar year 2012 offers an opportunity to individuals and families to take advantage of tax laws by making charitable gifts to tax-exempt institutions like the Saint Barbara Church Endowment Fund, Inc. Your gift to The Endowment Fund is a tax deduction for your benefit and it benefits the Church. Since its inception in 1963, the Endowment Fund has provided timely support to the church in meeting its financial challenges. Grants from the Endowment Fund include college scholarships, community development projects, maintenance and improvement of the church edifice, assistance to the church infrastructure, support for the Building Fund, and funding of the Church’s educational activities for youth and adults.
Gifts to the Endowment Fund, made to enhance its investable assets, are held in perpetuity in restricted accounts bearing the name of the donor; the principal of the gift is never spent, but grows as market forces allow. It is only the income from the gift – dividends and interest- that may be spent for the purposes selected by the donor.
The Endowment Fund is managed by its fully bonded Endowment Fund Board which is comprised of individuals appointed by the Parish Council, and includes ex officio, Father Peter, our Parish priest, and the president and treasurer of the Parish Council. The Board manages the investment of Endowment Fund assets in marketable securities, under strict guidelines based on a prudent Investment Strategy.
Ways to Give
As a parishioner or friend of the Saint Barbara community, you can make a difference with a gift to the Endowment Fund with several kinds of assets and in a variety of forms, such as:
• Unrestricted gifts that can be added to the core fund of the Endowment Fund.
• Restricted gifts to establish college scholarships bearing your name in honor, annually awarded to deserving college students from the community of Saint Barbara.
• Planned giving through a donors’ estate planning, in terms of personal property, cash, or a charitable annuity trust.
• Appreciated securities that the donor has held for more than one year which is often the most economical way to give.
Parishioners and friends of the community who may be interested in making a tax-deductible gift to the Endowment Fund before the end of the present year, may contact Father Peter Orfanakos, or the Endowment Fund Board of Trustees at the address firstname.lastname@example.org.
Your Brothers and Sisters in Christ, the Endowment Fund Board of Trustees