We completed our distributions for this year based on the income from our funds last year. As a reminder, we adhere to the following guidelines for our distributions:
20% - Outreach in the community and our synod
20% - Outreach in North America and throughout the world through the ELCA
20% - Capital improvements or building programs of King of Glory
40% - May be distributed among any of the other three designated areas noted above
Our distributions this year include:
Luther Heights: $500
Interfaith Sanctuary: $808
King of Glory Capital Improvement Fund: $2436
ECLA - Ukraine Fund: $936
We have made a change this year with our investments as well. The Mission Endowment Fund had a CD that matured so we established an investment account in the ELCA Endowment Fund, their Ministry Growth Fund. We still have a small Edwards Jones account and a checking account but the majority of the funds are now in the ECLA Mission Endowment Fund. We believe over time this will provide more growth in the funds over the long term.
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