Endowment | St. James Episcopal Church

“The future is not some place we are going, but one we are creating.”

~ John Schaar

About The Grateful Spirit Endowment

Established in 2024, The Grateful Spirit Endowment is in place to encourage long-term contributions to sustain the missions and ministries that are rooted deeply in our church and the wider community. In time, earnings from the fund can be used for interests that cannot be adequately funded by our annual operating income.

The Vestry established two investment accounts through the Episcopal Church Foundation (a ministry of The Episcopal Church) and their investment partners, State Street Global.

Permanent Endowment Fund - wherein, gifts will be held in perpetuity and protected by state law under the Uniform Prudent Management of Institutional Funds Act in Utah. This fund will be used to support the mission and ministries of St. James in accordance with the prudent Spending Policy for the fund.

A General Endowment Fund - This fund will be managed as if it were a permanent endowment fund as noted above. The exception is that in the event of an emergency or a compelling need, the Vestry may authorize a distribution from this fund that exceeds the standard distribution we will establish in our spending policy.

An Operating Plan for the Endowment, approved by the Vestry, exists to provide guidance and controls around both funds.

How to Contribute

In order to support gifts to the endowment by as many people as possible, The Endowment Committee has established several different ways that you can contribute to the endowment.

1) Regular gifts over time - This option allows you to setup gifts to the endowment through Breeze at the frequency you desire that will regularly be put in the endowment. This regular gift would be setup separate from a current pledge.

2) One time gifts - A gift can be made to The Grateful Sprit Endowment at any time in the following ways:

Check - Make check payable to St. James Episcopal Church. Write "Grateful Spirit Endowment" in the memo line.

ACH or Credit Card - Gifts using these payment types can be made in Breeze. Be sure to choose the Endowment Fund.

Wire Transfer - Gifts via wire transfer can be arranged by contacting the Parish Treasurer or a member of the Endowment Committee.

3). Legacy / Memorial Bequests - We recommend that anyone adding language to their trust, will or other life documents consult with their attorney or professional to ensure their bequest meets their needs.

This document includes sample language provided by the Episcopal Church Foundation.

Grateful Spirt Endowment Gift Acceptance Policy

The Endowment Committee

The Grateful Spirit Endowment Operating Plan, approved by the Vestry, provides that the committee must consist of at least five members who have been approved by the Vestry. There may be more than five members so long as the total is an odd number. Vestry persons may serve on the committee so long as they represent a minority of its members.

Your Endowment Committee meets regularly to provide consistent oversight and reporting to the Vestry and Congregation about the endowment.

The current members are Leon Hammond, Debbie Matticks, (Secretary), Mindy Mitchel (Committee Chair), Ric Tanner, and Collette Vaughan. The Rector, the Senior Warden, and the Treasurer are ex-officio (non-voting) members of the committee.

Leon Hammond

Debbie Matticks

Mindy Mitchell

Ric Tanner

Collette Vaughan

St. James Episcopal Church strongly urges you to consult with your attorney, financial advisor and/or tax advisor to review this information provided without charge or obligation. This information in no way constitutes legal, financial or tax advice.