Here’s what the Endowment Fund Task Force has done since the prior Chanticleer update in May.
Objective of Endowment
The principle of the endowment fund will be protected. Any income of the endowment fund may be dispersed from time to time to meet the operating, strategic, and other financial needs of First Church, as determined by the Board of Trustees.
Governance of the Endowment
Having decided to use a trust as a legal framework for governing the endowment, the Endowment Fund Task Force (EFTF) has identified and engaged a qualified trust attorney, with the approval of the Board of Trustees. Looking ahead, the EFTF will develop the key points of the trust document with the help of this attorney, who has done similar work for other churches in the Milwaukee area.
Investment Management
The task force continues to develop its fact base around the investment advisory firms we have identified. Pricing, investment philosophy, asset allocation, and ESG/SRI (Environmental, Social, and Governance/Socially Responsible Investments) are some of the areas we’re taking a deep dive into.
The goal of the team is to have a recommendation to the Board by the Fall of this year.
Ron Oshima, EFTF member