Supporting the mission for Colonial Church.
The Foundation was established in 1971. In the early years, the Colonial Foundation was responsible for a modest sum of money from prior memorials and bequests. In 1985 a major bequest dramatically increased the size of the Foundation’s endowment. This prompted the development of spending guidelines approved by the Colonial Church Council. A elected Foundation Board of Directors oversees the work of the Foundation.
The Colonial Foundation has based its operation on several key principles:
Gifts to the Colonial Church Foundation become part of an endowment fund unless otherwise designated. Gifts become a means of supporting the work and ministry of Colonial Church in perpetuity.
Donors can leave a legacy through designated gifts that hold special interest for donors. Designated gifts may be made within four basics funds of the Foundation’s endowment:
Colonial Village Fund for maintenance of the church’s building and grounds.
Program Fund for specific program areas and ministries of Colonial Church.
Mission and Outreach Fund for ministries and special projects as recommended by the Mission Task Force and approved by the Foundation’s Board of Directors.
General Fund for purposes determined by the Foundation Board and not normally funded by the church’s operating budget.
The endowment fund is invested and managed professionally. A financial firm works with the Foundation Board of Directors to maximize investment performance. Annually, the Board performs a complete review of portfolio performance.
The Heritage Society is made of donors in our Colonial community who have made gifts of commitments of future financial support to Colonial Church through their wills of other charitable gifts. We are grateful for their faithfulness. If you are considering a financial gift to Colonial Church through the Heritage Society please contact Pam Halverson at 952-925-2711.