Endowment Fund Information
Endowment Fund Grants for Fiscal 2025-2026
In accordance with the distribution policy and bylaws of the St. Paul Endowment Fund, a total of $42,400 will be available to distribution from the St. Paul Endowment Fund during the 2025-2026 fiscal year (July 1, 2025 through June 30, 2026). Endowment grant applications are now being accepted by the St. Paul Endowment Committee. A copy of the endowment grant application is available below or in the St. Paul Finance Office, or by contacting Jason Hasenstein, Director of Finance. One of St. Paul’s Boards must sponsor each endowment grant application. Please direct any questions regarding endowment grant applications and/or submit any grant applications to Jason Hasenstein, Director of Finance. Grant funds will be distributed as long as endowment funds remain available in the fiscal year.
Jason Hasenstein
Travis Keshemberg
Sue Putterman
Prior to the establishment of the CIF, funds were simply put into the “general” fund. The original allocations were 60% for capital improvements, 30% student aid, and 10% missions. At a November 17th, 1994 Voter’s Assembly Meeting, a motion passed changing the allocations of the CIF to 15% capital improvements 15% student aid 10% missions and 60% debt retirement. On April 30, 1998 the voters approved the by-laws of the St. Paul Lutheran Church Endowment Fund. Essentially, if the congregation has debt, 60% of all undesignated monetary gifts and bequeaths are to be applied to debt, the other 40% shall go into the Endowment Fund.
The by-laws of the endowment fund are very specific as to organizational structure, Investment options, and the ultimate disbursement of funds. The Fund is administered by the Endowment Fund Committee, chaired by the Director of Finance, plus 4 members of the congregation, appointed by the chairman of the congregation and approved by the voters assembly. The committee will make recommendations for disbursement of funds, consistent with the limitations and procedures of the by laws to the Church Council, if church council approves, the request will be presented to the voters assembly for final approval.
The current committee consists of Jason Hasenstein, Travis Keshemberg, Sue Putterman, Wayne Wiertzema, and James Meyer. If you have any specific questions please contact any of the committee members.