It is More Blessed to Give than to Receive
A word heard now and then around nonprofits and charities is“endowment”. People who are committed to the future of an organization and the continuation of what that organization represents often wish to ensure that it will continue long after they can no longer contribute monetary resources, time, or talent. An endowment helps make that possible. It provides insurance for the future. The principal of an endowment fund is invested, and only the earnings or dividends or interest are withdrawn.
Camp Westminster currently has four endowment funds. Two of the funds were set up in memory of someone who had a close
connection to the camp. Earnings from the Samuel L. Westerman Foundation have been used for a variety of purposes including general program and property concerns, counselor academic scholarship assistance, and a professional maintenance staff salary. The proceeds from the Jeanne Ellison Lowrie Murton Fund are used to meet expenses associated with property needs. The proceeds from the James Brian Weenink Endowed Campership Fund are used to provide campership assistance to financially challenged campers. The proceeds from the Bruce A. SmithFund have also been designated for campership assistance.
The four funds are all invested in a group called New Covenant Funds. The philosophy of these funds follows. “In addition to the specific investment objective of each of the funds, New CovenantFunds makes investment decisions consistent with the social-witness principles adopted by the General Assembly of the Presbyterian Church (U.S.A.). These policies flow from our faith and stewardship of God’s resources entrusted to the Church. They factor into our choices of where to invest (and where not to). And they guide the way we engage with the companies whose shares we hold.”
More information is available at New Covenant Funds. If this is something you would like to consider, please contact Jim Bates, Director of Development, email@example.com. Or call 313-341-8969. To open an account, a minimum of $500 required.