endowment fund
CARING FOR OUR CHURCH - THE CCUA PRESERVATION FUND is an endowment designated to perpetually provide funds for the care of our beautiful facility. We have already received pledges totaling $3,060,00.00, which, when received, will cover half of the costs for the maintenance of our building. Further gifts to the endowment guarantees that an even greater proportion of those expenses will be provided for.
FREQUENTLY ASKED QUESTIONS
Why an Endowment Fund?
The largest expense of a church, after staff salaries, is the cost to own and maintain a facility. The maintenance, repairs, insurance and utilities for College Church total approximately $250,000 annually, which is a little over 20% of what we raise. We believe that if College Church had an endowment that could perpetually cover either a portion or all of those expenses, all or most of the offerings that College Church receives could go directly to ministry. With those necessary expenses covered, College Church would be free to impact our community in even greater ways for the Kingdom.
Who Manages Our Fund?
The investment company that will be managing these funds is Three Corners Capital, an investment company in Cincinnati Ohio, which specializes in these kinds of investments.
The Board has appointed an Endowment Oversight Committee, which reports to the Church Board.
The Endowment Oversight Committee consists of Russ Benson, Chris Shride and Kevin Sims, with Doug Nielsen as the chair of the committee and the liaison between the committee and the board.
All are members of College Church and three of the four have served on CCUA’s church board. We believe these persons will steward our gifts with expertise and wisdom.
The Board has appointed an Endowment Oversight Committee, which reports to the Church Board.
The Endowment Oversight Committee consists of Russ Benson, Chris Shride and Kevin Sims, with Doug Nielsen as the chair of the committee and the liaison between the committee and the board.
All are members of College Church and three of the four have served on CCUA’s church board. We believe these persons will steward our gifts with expertise and wisdom.
How Will It Work?
The Endowment Oversight Committee, with approval from the board, has determined that asset allocation should be 60% equities, 35% fixed income, and 5% cash, which is a very common allocation for endowments, and is a long-term growth strategy which can withstand market volitivity.
The Endowment Oversight Committee, with approval from the board, has determined that initially, we will draw 4% a year, 1% a quarter, which amount can be adjusted in the future.
The Endowment Oversight Committee, with approval from the board, has determined that the endowment should pay these building expenses in this order, as funds are available: (1) Utilities, (2) Service & Maintenance Contracts, (3) Insurance, (4) Building Repairs and Maintenance, (5) Office Equipment Contracts. This order was partially determined by the amount of these respective expenses, from greatest to least.
The Endowment Oversight Committee, with approval from the board, has determined that initially, we will draw 4% a year, 1% a quarter, which amount can be adjusted in the future.
The Endowment Oversight Committee, with approval from the board, has determined that the endowment should pay these building expenses in this order, as funds are available: (1) Utilities, (2) Service & Maintenance Contracts, (3) Insurance, (4) Building Repairs and Maintenance, (5) Office Equipment Contracts. This order was partially determined by the amount of these respective expenses, from greatest to least.
How Can I Participate?
Give Online
You can give online on this page of our website and our CCUA app. Make sure to select "Endowment" on the fund drop-down menu.
Give in Person
You can give by placing an envelope in the offering plate during worship. Make sure to write "Endowment" on your giving envelope.
Mail a Check
Checks can be mailed to the church office.
College Church University Avenue
Attn: Finance Office
200 University Ave.
Bourbonnais, IL 60914
You can give online on this page of our website and our CCUA app. Make sure to select "Endowment" on the fund drop-down menu.
Give in Person
You can give by placing an envelope in the offering plate during worship. Make sure to write "Endowment" on your giving envelope.
Mail a Check
Checks can be mailed to the church office.
College Church University Avenue
Attn: Finance Office
200 University Ave.
Bourbonnais, IL 60914