ENDOWMENT FUND COMMITTEE
The Endowment Fund of Lakeside Community Lutheran Church was established on
October 13, 1996. The fund was established to receive gifts, including securities, real estate, life insurance, cash and bequests to be invested, with the earnings being made available to provide additional financial support for the outreach programs of Lakeside. The committee works with a financial planner and the funds are invested with Prudential's Pru-Choice program.
Specific categories for which funds will be used are:
· Mission Fund
· Youth activities enhancing growth in Christian faith
· Music for spiritual enhancement
· Community and social ministry needs
· Special needs of Lakeside, including major capital improvements
· Special needs of ELCA seminaries
Gifts and bequests to the fund accumulated until the principal amount of $30,000 was achieved, after which the income generated from the investment principal may be expended at the discretion of the committee.
Disbursements have been made to assist youth education, youth mission trips and scholarships to seminary students.