Guide for Special Gifts

Special Gift Funds
St. Luke’s Church has established three gift funds for those members and friends that would like to provide special support for the church.  These funds are described below.  Gifts to St. Luke’s may be in memory of a loved one, in celebration of a special event or in thanks to God for all we have received in life.  They may be named or anonymous.  Some members and friends may also wish to consider including St. Luke’s in their wills to provide perpetual support to the church.  Please feel free to speak to Pastor or a Church Council member for more details on these special funds.

Designated Memorial Gift
Definition:     Designated Memorial Gifts are monetary gifts given to the church in memory of, or in honor of, a person, group or organization and dedicated to be used for the purchase of goods or services for the benefit of the church.  The goods or services received are then usually dedicated to the church in the name of the giver’s honoree.
Agreement:     The covenant between the giver and the church is that the funds donated as a Designated Memorial Gift will be used to purchase goods or services, as suggested by the giver and agreed to by the Church Council, in the name of an honoree, for the near term benefit of the church.
Disbursement: Expenditure by the church of funds received as a Designated Memorial Gift shall be in accordance with the wishes of the giver and approved by resolution by the Church Council for a particular good or service. 

Endowment Fund
Definition:     The Endowment Fund is a trust fund to collect and hold monetary gifts given to the church in memory of, or in honor of, a person, group or organization, or from special gifts given to the church from time to time, where the earnings of the fund are to be used for the benefit of the church.
Agreement:    The covenant between the giver and the church is that the gifts to the Endowment Fund are to be used to produce income for the perpetual benefit of the church.
Disbursement: Earnings from the Endowment Fund may be included in the church annual budget and transferred to the church operating budget to be used for current operations or capital repairs and enhancements. 
An investment advisory committee will be appointed by the Church Council to oversee the investment of the Endowment Fund. 

Capital Reserve Fund
Definition:     The Capital Reserve Fund will hold monetary gifts given to the church and designated for major capital projects.  A major capital project is defined as a capital improvement or significant repair to the property of the church, parsonage or church grounds costing more than $5,000.
Agreement:     The covenant between the giver and the church is that the gifts donated to the Capital Reserve Fund will be used to purchase goods or services that are part of a major capital improvement project as approved by the Church Council and congregation as per requirements in the constitution. 
Disbursement: Expenditure of the funds from the Capital Reserve Fund shall be in accordance with the resolution defining the project as passed by the Church Council and congregation.