Illinois/Wisconsin District Establishes Endowment

As of January 2, 2019, the Illinois/Wisconsin District of the Church of the Brethren has in place a Permanent Endowment. Several years prior, the district received a disbursement from the Frances E. Senger Trust with a request that the funds be endowed at the discretion of the District Leadership Team. Action on the request was delayed until 2018. The Property and Asset Management (PAM) Team, while reviewing district assets, determined that setting up an endowment would be an appropriate response to the Senger Trust request. Following careful examination of the mechanics of an endowment, the PAM Team encouraged the Leadership Team to endow the Senger Trust funds. The Leadership Team subsequently moved forward in creating the Permanent Endowment Fund.

No withdrawals of funds from the Senger Trust were made since it was received. As a result, the balance appreciated in value to approximately $230,000.00 by late 2018. Due to negative market fluctuation, the balance at time of issuance of the endowment was approximately $207,000.00. Up to 4% of the total value of the endowment may be withdrawn annually after fees and expenses have been paid and at no time shall the balance be allowed to fall below $200,000.00. Any changes to the endowment will require a super-majority vote of both the PAM and Leadership Teams of the district.

For more information about the Permanent Endowment, visit www.iwdcob.org/ministries.shtml and click on Endowment to view the Endowment FAQs document.