Category Image Covenant Fund Update


Information on Ministry Programs funded by Northaven's Memorial Fund

During the past year, the Covenant Fund Trustees approved funding for several worthy causes within the Northaven community. The Covenant Fund oversees two accounts designated for special gifts: the Celebration fund, which receives both restricted and unrestricted memorial and honorary gifts, and the Permanent Endowment Fund which is the fund for larger contributions. Accrued interest from this Fund can be used for special mission and outreach programs as well as unusual or one time expenses for property related items. In 2006, the Covenant Fund used both unrestricted gifts in the Celebration Fund and accrued interest in the Permanent Endowment Fund to purchase a new piano for the choir rehearsal room, pay the final installment of a $15,000 pledge to assist with the refurbishment and upgrade of the organ and partially offset expenses for the 50th Anniversary Celebration and Commemorative Brochure. These gifts were made possible through the generosity of the congregation and friends of Northaven who made unrestricted gifts to the Celebration Fund and Permanent Endowment Fund. There were also many restricted gifts to the Celebration Fund in 2006 and prior years that were funded in 2006 such as the second floor refreshment center, the Northaven permanent sign and additional contributions to the organ and theatrical lighting.

As a reminder to the Northaven congregation, the following guidelines govern the types of requests that can be funded through unrestricted funds held in the Celebration Fund or Permanent Endowment Fund:

Celebration Fund: Programs or projects that are not funded by the Northaven budget during the current fiscal year.

Permanent Endowment Fund (interest only is available for spending): Missional purposes such as experimental ministries, new outreach, creative services, special mission projects locally and beyond the local church, scholarships, unusual expenses of any kind for the maintenance, repair, alteration and replacement of real property owned by Northaven UMC.

Should you wish to make a request for funding for one of the referenced purposes, please contact Kate Anderson at 214-739-5339 in order to discuss the request. All formal requests should be made in writing and submitted well in advance of when the funds are needed. The Covenant Fund Trustees meet quarterly under normal circumstances. The current Trustees are: Kate Anderson, Ray Harris, Jay Hilbert, Dotti Timmins, Linda Wiland and Chris Wilmoth.

Posted: Wednesday - January 24, 2007 at 03:18 PM           |

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