As we come to the end of the 2022-23 UUCC fiscal year, it is a good time to update you all on the current state of the UUCC Endowment Fund. The bulk of the assets of our Endowment Fund are invested in the UU Common Endowment Fund (UUCEF), managed by the Unitarian Universalist Association in Boston. Our assets along with those of many other UU congregations across the country are professionally managed while meeting UU socially responsible investment goals. The current value of our Endowment capital invested in UUCEF is $610,769 — almost unchanged from last year — plus we currently have $59,610 in our bank account.
We are deeply grateful for the generosity and thoughtfulness shown by the number of people who contribute to the Endowment Fund. During this congregational year, since July 2022, we have received more than 20 donations amounting to over $65,000. This total includes many gifts made in memory of UUCC members or their loved ones, as well as two bequests from the estates of late UUCC Members.
Each year, UUCEF makes a distribution to the participating congregations that is based on 5% of the average balance of the Endowment account. In January 2023, we received a distribution from UUCEF of $29,461. Your Endowment Board decided that the whole of this distribution should be disbursed to the UUCC operating fund for the upcoming fiscal year (FY23-24).
One Comment
John Guy
Hello UUCC Endowment Board – Thank you for a timely report of the status of our endowment fund. Considering CY 2022 being such a BEAR market it is phenomenal that our balance is consistent with the year before. .Speaks well for the investment firm that Boston uses. Question : the amount we have in a bank account ,can any of that be used to purchase CD s ? Current CD rates are far superior to savings and checking account rates . Also the frequency with which members of UUCC gift memorial gifts is a vital process to continue to advertise and strive to increase going forward . Again thank you for your service to UUCC. Regards John Guy