The ELCA Endowment Fund Pooled Trust, Fund A, reached a new milestone on Oct. 31 with $500 million in total market value. Forty-one of the 65 ELCA synods and about 500 congregations participate in Fund A which supports the ministries of this church. These ministries include congregations, synods, seminaries and other eligible affiliated entities.
“We are grateful to all the congregations, synods and related ministries who have come together to establish their individual mission endowment funds to support current and future ministry,” said Annette Shoemaker, director for the ELCA Foundation.
Fund A is a commingled fund made available through the ELCA Foundation to eligible ELCA entities. It is managed with two primary investment objectives—to generate stable quarterly distributions and preserve the purchasing power of the underlying assets. The current annual distribution rate is 4.25%.
While Fund A benefitted from the favorable market conditions experienced in 2013, contributions from new and existing participants helped push the fund’s assets to new highs.