In 1994 the Board of Trustees established the Sts. Vartanantz Armenian Apostolic Church Endowment Fund “EF” with a $33,415 donation in memory of Aram Bezazian.
Our Endowment Fund is an Investment Fund that makes annual withdrawals of earnings from invested capital. It provides financial support to the Church for accomplishing its mission. It is funded entirely by donations that are tax-deductible for the donors.
Since its inception and through year 2019, annual donations to the Church totaled $246,000, including $52,000 toward the commercial building next door to the Church acquired in 2011.
Our goal is to continue to grow the Fund, hence growing the Funds annual support to our Church.
Donors can make contributions to the EF by a variety of methods. Gifts of all sizes and in many forms are welcome.
Cash gifts qualify as a charitable deduction for income tax purposes. With a minimum donation of $5,000, which can be spread over a mutually agreed period of time, the donor can establish a memorial fund or a family fund.
Gifts of appreciated marketable securities such as stocks, bonds and mutual funds.
- BEQUESTS & MEMORIALS
The EF can be designated as a beneficiary of your will or trust.
- RETIREMENT ACCOUNTS
You can also designate the EF as a beneficiary of your IRA, 401K or 403(B). Donations can also be made from your required minimum distributed, referred to as RMD. The amount donated will not be tax deductible but will not be taxable RMD income to you.
- LIFE INSURANCE
There are also ways to give life insurance proceeds to the EF. The EF can be designated as a beneficiary or a new policy can be purchased in the name of the EF.
The EF Committee is responsible for investing the assets of the Fund. The annual payments to the Church are coordinated with the BOT and included in the Church’s annual budget. The EF Committee will publish its annual report after the end of the year for inclusion in the Church’s annual report.
For any questions in regard to EF donations, please contact the EF Committee or the Church treasurer.
Thank you for your support and generosity!
Endowment Fund Committee