St. Barnabas Church Endowment Fund Policies and Guidelines

The St. Barnabas Endowment Fund was established by the Vestry in 2014 to provide income in perpetuity for the Church. The fund is a permanent separate fund, and its principal is invested, not spent, to ensure its sustainability for the future. The goal of the fund is to enable St. Barnabas to fulfill its mission by developing ministries beyond what is possible through operating funds.

The Endowment Committee is recommending a change in our existing policies and guidelines. The purpose of this change is to allow St. Barnabas lay leadership to be more responsive to the dynamic changes within the financial marketplace. We are eliminating the need for the Congregation to approve changes in our policies and guidelines. We are also adding oversight responsibility from the Finance committee. The Vestry and Finance committee have approved the recommended changes below and we are now asking the Congregation to approve these changes.

14.  Amendment of Resolution – Current

Any amendment to this Resolution and the policies described therein shall be adopted by an affirmative vote of at least two-thirds (2/3) of the membership of the Vestry at two consecutive, regularly scheduled meetings, and by the affirmative vote of at least two-thirds of a quorum at an Annual or Special Meeting of the Congregation. Any amendment regarding the use of the corpus of the unrestricted endowment shall be handled with the above established distribution rules.

14.  Amendment of Resolution – Proposed

Any amendment to this Resolution will be initiated by the Endowment committee and approved by a vote of at least two-thirds (2/3) of the Finance committee. The policies described therein shall be adopted by an affirmative vote of at least two-thirds (2/3) of the membership of the Vestry. Any amendment regarding the use of the corpus of the unrestricted endowment shall be handled with the above established distribution rules.

For more information on the Endowment, see the 2023 Endowment Committee Report on pages 21-22 or find information on our website at: https://www.st-barnabas.org/endowment.