To all UUCC members and friends,
One way of giving to UUCC that will have a permanent impact is to contribute to the UUCC Endowment Fund. Below is background information on this fund.
UUCC’s Endowment Fund is a permanent source of financial capital that grows and produces income for UUCC annually and into the future. Its goal is to help ensure the financial health of UUCC and continue its work for decades to come. It provides a financial cushion designed to create a legacy through appreciation of investments made to the fund by UUCC members and friends, over many years. The value of our fund on 30 September 2023 was $630,000. To find out more about our Endowment Fund, and how to donate to it, check out our UUCC webpage under “GIVING.”
The objective of the Endowment Fund is to generate a long-term return while growing the principal. Donations to the Endowment Fund are invested in indexed mutual funds and socially responsible investment funds with low expense ratios. Each year a percentage of the fund is distributed to UUCC’s annual operating budget. Only the income and appreciation of the fund is used for the distribution, which protects the original dollar value (principal) of each donation.
During the 2019-2020 fiscal year, UUCC elected, like many other Unitarian Universalist Congregations, to delegate the management of these funds to the Unitarian Universalist Common Endowment Fund (UUCEF), which is a diversified investment fund that seeks to generate current income and long-term investment returns through portfolio allocation and professional asset management with UU socially responsible investing goals. The UUCEF is available for the investment of endowment funds, trust funds, and other assets of congregations that have a long-term investment perspective and the need for income to support their missions.
UUCEF’s objective is, or course, also to generate a long-term return while growing the principal. The specific formula is 5% of a 13-month moving average of the fund value, which is distributed each year. This is called the Harvard method, and is the formula used by the entire UUCEF. This preserves the principle while dampening the effect of short run changes in the asset value. If you are curious about the status of UUCEF, you can visit their website (uucef.org) or contact them directly for more information.
UUCC’s Endowment Board