Endowment

Is it appropriate for the church finance team to include an endowment fund managed by a separate board of trustees in the church's financial statement?

Comments for Endowment

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RE: Endowment
by: Kolaktax

If the endowment use the same EIN as the church, it should by included in overall church's reportings. That is, it is part of church's financial activities. Furthermore, it will reported in Temporarily Restricted and/or Permanently Restricted section of Statement of Fund Balance.
Membership question
by: Anonymous

Trustees are members of the church but cannot serve on the governing body or be a staff member. The bylaws of the foundation place full authority for all financial decisions with the trustees of the foundation.
Endowment
by: Lewis in NC

Is the separate board of trustees made up of church members, or are they outside of the church? Were there privacy requirements stipulated when the endowment trust fund was set up?
Usually transparency is a basic requirement when preparing financial statements for an organization.

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