During the mid 1980’s to the mid 1990’s St. Luke had a parishioner that was persistent in his attempts to introduce a set of endowment fund by-laws for the benefit of the Greek Orthodox Church of St. Luke.

In 1995, he was joined by two of the founding members of the Church as well as the Parish Council President.  The endowment fund by-laws were approved by the Parish Council and Church Members at a November 1996 general assembly.  It was motioned that St. Luke established the Endowment Fund with the Community Foundation of Western Massachusetts.  Said fund was to start with a $2000 and build up to a minimum of $10,000 over a five year period.

Minutes after the motion was ratified, the first endowment found was donated.  Soon thereafter all the founders of the church and parishioners provided donations and we embarked on the following mission:  To maintain a perpetual fund that will provide a permanent program of charitable giving to ensure the heritage and religious beliefs of our parish.

The St. Luke Greek Orthodox Church Endowment Fund - Article V111.

• Funded by individual donations of not less than $100 and by proceeds from specific fund activities directed to said fund.( Here is an instance of where there is a suggested bylaw change to $50.)
• Parish management of the fund is conducted by an Endowment Committee.
• Earnings of the fund, which may be comprised of realized/unrealized gains or losses and investment income less the Foundation’s (the fiduciary that invests our churches monies) administrative and investment fees,  shall be reinvested back into the fund with the purpose of fostering growth of the principle in perpetuity.
• Distributions from the fund will be made:
  A. Only if the principle exceeds $25,000 at the end of the Foundation’s fiscal year
  B. Only if during that year the fund has realized an annual net income
  C. Shall be limited to 25% of said annual net income
  D. Only if the Parish Council deems such distribution necessary.

  For more information please email us at stlukeinfo@gmail.com or call us at 413-525-4551