Congregations and other nonprofit organizations manage their endowment funds in a variety of ways. This is true for endowments that are managed locally and for endowment funds established at the LCF.While each endowment fund is unique, the following guidelines outline the roles and responsibilities of the fund’s endowment committee versus those of the LCF.
LCF Responsibilities
The Role of the Organization's Endowment Committee
- Define the committee’s relationship to the governing structure of the congregation/organization.
- Define the purpose(s) of the endowment fund; communicate those purposes to the organization’s donors and volunteers.
- Plan and carry out activities that create visibility for the fund.
- Accumulate small cash gifts and send them collectively to the LCF.
- Consider and make decisions about special purpose gifts.
- Plan for making grant distributions from the endowment fund.
- Plan and carry out fundraising activities for memorial gifts, bequests and major lifetime gifts.
LCF Responsibilities
- Accept gifts to the fund.
- Prepare transfer papers for gifts of securities and provide instructions to donors.
- Provide consultation to donors and their advisors about charitable gift annuities, charitable remainder trusts and
other more complex gifts. - Evaluate gifts of real estate above a certain value threshold, consult with local advisors, assist with transfer documentation, list property for sale, evaluate buyers and close sale.
- Invest gifts according to LCF investment policy.
Make quarterly reports to the fund advisor on the value of the fund. - Offer assistance to the endowment committee through strategic planning and design of an informational brochure and newsletter articles/bulletin inserts. The LCF can also provide resource referrals, telephone consultation to committee members, fundraising ideas and information on other charitable organizations and causes.