An endowment fund is an asset that is invested in perpetuity, unlike expendable (cash) funds which are normally used for immediate expenses. Cornerstone has 2 endowments, one managed by The Community Foundation of Lorain County and the other managed by the In His Steps Foundation. Each year we receive just under $10,000 in interest earned on our endowments. It is our desire to increase these endowments to bring more income to our present day ministry and to provide stability into the future.
Is it biblical to make such plans for the future? Shouldn't Cornerstone as a faith-based Christian organization rely on the flow of generosity of our donors for our sustenance now AND in the future? The In His Steps Foundation has an excellent white paper addressing this question. There are several examples in the Bible where provision for the future was stored in the present. Please click here to read the details.
Two common gift opportunities include:
- Outright gifts- donations made directly to the endowment fund that are available for immediate investment
- Bequests- gifts to the endowment made upon the donor's death from his/her estate wealth
Please contact either organization if you would like to sow into our future and provide some limited current interest income for us as well. As a donor, your gift is securing our future, building our credibility as a "long-haul" ministry, and insuring your generosity continues to make an impact into the future.