ALGOOD UMC FUNDING

Algood UMC maintains several financial accounts as one tool toward fulfulling our role as a church. The Finance Committee provides this brief description of each fund for you information. You may donate directly to any or all of these funds.

GENERAL FUND: This fund underwrites our budget and is probably our most important fund. It provides for all of our normal church operations such as salaries, maintenance, office supplies, special church sponsored offering, and the many miscellaneous operations and expenses. The primary source for this account is the offering received each Sunday. Checks may indicate that they are for the budget, general fund, or left blank. Checks or cash received in the offering go into this account unless indicated for another purpose.

PERMANENT ENDOWMENT FUND: Established in 1999, this fund serves to underwrite some of the anticipated capital improvements in the future. The principal of the fund may never be used unless it is a bona fide emergency. The INCOME from the fund CAN be used for capital improvements or purchases. Money may be donated to this fund to honor someone or as a memorial for a deceased loved one, friend or just as a donation by an individual. Checks should indicate that they are for the Permanent Endowment Fund (PEF). A permanent record of all donations will be maintained in bound document in the church office. If the donation is in memory of some, an entry will be made in the PEF Memorial Book found at the entrance of the church. If the total amount of money received in memory of someone is > $250, that person’s name will be inscribed on the church PEF plaque in Fellowship Hall, in addition to being listed in the book previously mentioned.

PROPERTY ACQISITION and IMPROVEMENT FUND: Any undesignated memorials go to this fund. You may make contributions by marking any checks and cash in pew envelopes for “Property Fund.”