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Channing Memorial Church |
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To sum up our discussion Sunday morning, the committee is requesting:
- A change in the church rules to allow the Board to make a substitution should a committee member exit before the end of their term.
- That a committee be formed just for planned giving, unless the Board should wish to join capital fund raising and planned giving in one effort. Investing money and raising it are very different endeavors.
- It has just also occurred to me that the $20,000 given to, and still remaining with, the Church Community Housing Corp. would more appropriately be funded by the Margit Baum fund which has been set up for charitable use. Since 1985 the interest on the $20,000 has gone into the church budget and the endowment, which I believe should concentrate on growth, has had this money tied up. I suggest transferring $20,000 from the Baum fund to the endowment and include this loan as part of the Baum fund with the interest going back to that fund, or wherever the board and fund manager decide.
- If there are written rules regarding how much, how little, and from where funds from the endowment get transferred to the church budget annually, the Board, the Endowment Committee and the Financial Committee need to be aware of them. Does the Board want formal rules?
- - Barbara Richter and Lois Kessler