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DISTRIBUTION AND ACCOUNTING OF MEMORIAL AND ENDOWMENT FUNDS
The purpose of this section is highly technical in order to explain the accounting and distribution policies relating to the Memorial and Endowment Funds (“Restricted Funds”). These guidelines defined below are followed by most colleges and non-profit organizations that have endowment funds.
Endowment Fund: A donation to Holy Resurrection Serbian Orthodox Cathedral wherein the donor has requested that the investment income earned on the principal be used pursuant to the donor’s wishes.
WHAT IS AN ENDOWMENT OR LEGACY FUND?
It is a gift that is not spent but invested in a diversified investment portfolio
“For you know how generous our Lord Jesus Christ has been:
he was rich, yet for your sake he became poor, so that through his poverty you might become rich.”
2 Corinthians 8:9
PURPOSE
FUND CUSTODIAN
A MINIMUM TO ESTABLISH
EXISTING FUNDS
“Not even night should interrupt you in your duty of mercy. Do not say: Come back and I will give you something tomorrow. There should be no delay between your intention and your good deed. Generosity is the one thing that cannot admit of delay.”
Saint Gregory of Nazianzus
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