The Endowment Fund of Saint Barbara Greek Orthodox Church was established in 1963 with the vision to help foster our community’s financial independence. Its mandate has been and continues to be to safeguard and grow capital for use in furtherance of the church ministries. 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.
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.
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 $15,000 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 the 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 Rev. 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, firstname.lastname@example.org
To make a contribution online:
In addition to the current thirty-five named scholarships, the Endowment Fund has established general funds for the support of cultural advancement, religious education and athletic ministries.
A listing of the current funds are as follows:
- The Religious Education Ministry Fund: Earnings from this fund will be used to underwrite various religious education ministry programs at the Saint Barbara parish for parishioners of all ages.
- The Cultural Advancement Ministry Fund: Earnings from this fund will be used to underwrite various cultural ministry programs at the Saint Barbara parish for parishioners of all ages.
- The Sports and Recreation Ministry Fund: Earnings from this fund will be used to underwrite various sports and recreation ministry programs at the Saint Barbara parish for parishioners of all ages.
- The Landscaping Fund: Established by Alex Alexiades and Dr. Lycurgus Davey, earnings from this fund are used to underwrite the beautification of our Church grounds with the planting of trees and the replacement of damaged ones, placing shrubbery and bushes and flowers in their proper settings, and keeping the grass in pristine condition. Ordinary ground maintenance (mowing of the grass, raking of leaves and snow removal) are not covered under this fund but fall under the responsibility of budgetary expenditures of the Church.
- The Church Edifice Fund: Earnings from this fund will be used to assist in the maintaining of the building and physical aspects of the Church structure.
- The Psathas Fund: Established by the Psathas Family, earnings from this fund are forwarded to the Building Fund of the parish on a yearly basis.
- The Hajedemos Family Fund: Established by Harry and Jane Hajedemos, earnings from this fund may be used for the needs of the Saint Barbara Community as determined by the Parish Proistamenos and the Parish Council.
- The Nelson and Carole Nicholson Agape Fund: Established by Nelson and Carole Nicholson, earnings from this fund are placed into the Agape Fund of the Saint Barbara Parish and used for philanthropic purposes at the discretion of the Parish Proistamenos.
- The John-Peter Iakovos Orfanakos Community Enrichment Fund: Established in honor of John-Peter Iakovos Orfanakos, earnings from this fund are used to supplement and underwrite the costs associated with various educational and spiritually enriching parish events at the Saint Barbara Parish at the discretion of the Parish Proistamenos.
The Ted Vartelas Community Outreach Fund: Established by his children Pamela Alessio, Robyn Reilly and Jonathan Vartelas in honor of their father’s legacy of compassion and generosity. Earnings from this fund are used for philanthropic causes at the discretion of the Parish Proistamenos.
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