Policies of Colonial Park United Church of Christ

Policies of Colonial Park United Church of Christ /
Colonial Park United Church of Christ /
February 18, 2013 /

Church Council

The Council shall be the executive body of the Church. It shall be responsible for directing the ministry and mission of the congregation, in keeping with the Preamble and Purpose Statement of the By-laws and tradition of the congregation. The Council shall supervise the development of mission statements for various ministries and assign tasks to them.

The Council consists of members of the congregation and will conduct themselves as defined in the by-laws of the Church.
The Council will conduct a minimum of ten monthly meetings per year. Provided there is no pressing business, the Council may opt to omit two meetings.
Serving as a Deacon or Steward is a high honor. It means the disciples of this congregation have seen in this individual the God given gifts of spiritual leadership. It is expected that Deacons and Stewards will commit themselves to regular attendance at all Council meetings and a minimum of 50% attendance in worship as defined by the by-laws and procedures of the Church.
Responsibilities of Deacons and Stewards as Council members include but are not limited to:
Regular attendance at Council Meetings. If a Deacon or Steward is unable to attend a regularly scheduled Council Meeting, notification should be given to the Council President prior to the meeting.
Provide leadership to your assigned Ministry.
Collecting the offering money after services and placing it in the safe according to the assigned schedule.
Serving Communion according to the assigned schedule.
Sharing with Council any concerns given to them by disciples of the congregation.
Formation of Advisory Teams. Deacons and Stewards should form Advisory teams with persons that have an interest in their respective area. These teams meet to advise the Deacon or Steward in their respective ministry, as needed.
Additional assignments as requested by the President or Pastor.
General policies are adopted by the Church Council. Any changes in policy which pertain to the By-Laws require the approval of the congregation.
It is expected that on occasions the Pastor will make unilateral decisions, which have a bearing on Church policy. Such decisions are subject to the review of the Council and shall be reported to them.

Management of Church Investments

The Investment Committee consists of three at large members. One member is appointed each year by the Stewards of Finance to serve a three year term. Stewards of Finance will submit names for approval by a two-thirds vote of the Council. One of the Stewards of Finance will be the liaison to the Investment Committee. No member may serve more than one appointed term without a one-year break in service.

The Church adopts the following investment policy and definition of income and principal which is intended to maximize income while preserving the real value of principal, allowing for growth and encouraging additional future contributions to the Church’s various endowment funds.

The Church Council shall have discretion to allocate from 10% to 30% of any unrestricted gift or bequest to the general operating fund of the Church for immediate use with day-to-day operations and commitments made by the Church. The balance of the unrestricted gift or bequest shall be paid into the General Endowment Fund, providing a source of long-term income stream which can be budgeted for the day-to-day operations and commitments of the Church.

The Investment Committee shall adopt and follow a total return investment policy for all endowment funds, whether the return is to be derived from appreciation of capital or earnings and distributions with respect to capital or both.

Beginning with the Church’s 2007-2008 fiscal year, the term “income” with respects to an endowment fund shall mean six percent (6%) of the fair market value of the endowment fund (i.e., cash, and other assets) determined annually and averaged over a period of three (3) preceding years. The valuation date shall be the last day of the preceding fiscal year. However, if an endowment fund has been in existence for less than three (3) years, the average shall be determined over the period during which the endowment fund has been in existence.

The term “principal” shall mean all other assets held in the endowment fund.

GIFT ACCEPTANCE

Whether by Colonial Park United Church of Christ (CPUCC) staff or donor initiative, the CPUCC shall not accept non-monetary gifts or real property with a stated value in excess of one thousand dollars ($1,000) without thorough Council review. CPUCC shall not knowingly accept a future bequest in any donor-initiated trust without thorough professional review. CPUCC shall not pay a "finder’s fee" for inclusion in any trust.

Whenever any of the above circumstances arise, it shall be the responsibility of the Stewards of Finance to inform the Church Council, consulting with the Church Council regarding the circumstance and review procedure to be followed. Typically, that review would be legal (CPUCC's counsel) and financial (CPUCC's CPA), but other parties may be called on as necessary.

MEMORIAL GIFTS PROCEDURE

Purpose:The Colonial Park United Church of Christ has a long tradition of giving monetary gifts in memory of congregation disciples who are deceased. These gifts are used to acquire items needed by the Church to maintain and expand its ministry to the congregation and the community at large.

Designation of Gifts:

Each individual giver may designate to which existing memorial or endowment fund their gift is to be applied. Undesignated memorial gifts, shall be applied to the Colonial Park United Church of Christ General Memorial Fund, and shall be any sums that are not specifically designated to any Church fund. If money is given to a non-existing fund, the giver will be consulted and asked to designate the placement of the donation.

Creation of New Funds:

The Church Council, upon receiving a recommendation from the Stewards of Finance, is responsible for the creation of new memorial or endowment funds.

Utilization of Gifts:

All gifts received under this procedure will be bound by the restrictions of the receiving fund. All recommendations for disbursement of the funds will be reviewed by the Stewards of Finance in consultation with the Investment Committee for the sole purposes of:

Determining whether sufficient funds exist within the specific fund to be used.
Determining if the purpose for which the disbursement is to be used falls within the confines of a specific fund’s acceptable uses.

Use of money given to the Colonial Park United Church of Christ General Memorial Fund in memory of a deceased person will be at the discretion of the Church Council.

Acknowledgements:

It shall be the responsibility of the Office Manager to convey to the giver a written acknowledgement of their gift. In the case of church disciples the amount and fund to which their gift has been applied shall also be provided to the Financial Secretary so that credit can be given.

Memorial Gifts are meant to be for gifts given by the living in memory of the deceased and therefore belong in the Memorial Fund. Bequests (gifts from the deceased individual) are discussed as part of the General Endowment Fund policy.

GENERAL MEMORIAL FUND

Purpose: Established to accommodate those who wish to make a contribution to the Colonial Park United Church of Christ (“Church”) in honor or in memory of a friend and/or loved one. Pecuniary donations may be used to purchase items for the Church with two-thirds approval from the Church Council.
Name: The name of the fund is the Colonial Park United Church of Christ General Memorial Fund (“Fund”).
Description: The money shall be the sum that is expressly given to the Fund and/or money given in honor or in memory of an individual and not specifically designated to any particular fund. The giver may not designate specific use of the donations. The income from the Fund shall remain in the Fund.
Management of the Fund: Withdrawals from the Fund may be made with two-thirds approval from the Church Council. Such withdrawals from the Fund may come from interest or principal or both of the Fund, as directed by Church Council. The Fund shall be maintained and managed separately and not intermingled with the general operating accounts of the Church. The Fund will be managed by the Investment Committee.
Reports and Audits: The Investment Committee shall report to the Council quarterly and to the congregation annually on the status of the fund. The accounts and ledgers shall be audited by the congregation’s duly appointed Audit Committee.
Dissolution or Merger: In the event of the dissolution of Colonial Park United Church of Christ, the assets of the Fund shall be distributed in accordance with the distribution of the remaining assets of the congregation. In the event of the merger of the congregation, the Fund shall be transferred intact and subject to the restrictions contained herein to the surviving congregation.

ENDOWMENT FUND

Purpose: The General Endowment Fund was approved by the consistory on March 11, 1985, and approved at the congregational meeting held June 2, 1985. It wasfunded by an initial gift of $500. Future funding is from unspecified bequests, specified gifts and bequests and any other funds Council shall designate.
Name: The name of the fund shall be Colonial Park United Church of Christ Endowment Fund.
Principal of Fund: The money and other property forming the principal of the fund shall be such sums as are expressly given to the fund and such other sums as designated by the Council of Colonial Park United Church of Christ from time to time. All unrestricted funds bequeathed to the Church shall be added to the principal of the fund.
Application of Income: The income from the fund shall be paid into the operating fund of Colonial Park United Church of Christ on a not less than annual basis. With Council’s approval, any portions of said income may be added to the principal of the Endowment Fund.
Withdrawals of Principal: No withdrawals from the principal shall be made other than in the form of loans to the Church, which loans shall be evidenced in writing and approved in the same manner as loans from private sources as set forth in the bylaws of the Congregation. Any such loans shall be repaid in substantially equal monthly payments of a maximum of twenty (20) years or (1) year per $1,000 borrowed, whichever is less.
Management of Fund: All funds shall be maintained in separate accounts in the name of Colonial Park United Church of Christ Endowment Fund and shall not be intermingled with the operating accounts of the Church. The funds shall be managed by the Investment Committee.
Reports and Audits: The Investment Committee shall report to the Council quarterly and to the Congregation annually on the status of the fund. The accounts and ledgers shall be audited by the Congregation's duly appointed Audit Committee.
Dissolution or Merger: In the event of the dissolution of Colonial Park United Church of Christ, the assets of this Fund shall be distributed in accordance with the distribution of the remaining assets of the Congregation. In the event of the merger of the Congregation, the Fund shall be transferred intact and subject to the restrictions contained herein to the surviving Congregation.
Amendment: The terms set forth herein may not be altered or amended without the consent of two-thirds of the Council and by two-thirds vote of the Congregation at a duly called Congregational Meeting.

PROPERTY ENDOWMENT FUND

Background: The Property Endowment Fund was approved by Council and approved at the Congregational meeting held in October 1993. It was initiated by the MAKE A DIFFERENCE and OUR GIFT TO THE FUTURE campaign for Colonial Park UCC in the fall of 1993. Future funding is from specified bequests and any other funds Council shall designate.
Name: The name of the fund shall be Colonial Park United Church of Christ Property Endowment Fund.
Principle of Fund: The money and other property forming the principal of the fund shall be such sums as are expressly given to the fund and such other sumsas designated by the Council of Colonial Park UCC.
Application of Income: The income from the fund shall be divided so that 90% of the income will be paid into the Building Fund of Colonial Park UCC and the remaining 10% will be reinvested into the Colonial Park UCC Property Endowment Fund on a not less than annual basis. With Council's approval, any portions of said income may be added to the principal of the Property Endowment Fund.
Withdrawals of Principal: No withdrawals from the principal shall be made other than in the form of loans to the Church, which loans shall be evidenced in writing and approved in the same manner as loans from private sources as set forth in the bylaws of, the congregation. Any such loans shall be repaid in substantially equal monthly payments of a maximum of twenty (20) years or one (1) year per $1,000 borrowed, whichever is less.
Management of Fund: All funds shall be maintained in separate account in the name of Colonial Park UCC Property Endowment Fund and shall not be intermingled in the operating accounts of the Church. The funds shall be managed by the Investment Committee.
Reports and Audits: The Investment Committee shall report to the Council quarterly and to the Congregation annually on the status of the fund. The accounts and ledgersshall be audited by the congregation's duly appointed Audit Committee.
Dissolution or Merger: In the event of the dissolution of Colonial Park United Church of Christ, the assets of the Fund shall be distributed in accordance with thedistribution of the remaining assets of the congregation. In the event of the merger of the congregation, the Fund shall be transferred intact and subject to the restrictions contained herein to the surviving congregation.
Amendment: The terms set forth herein may not be altered or amendedwithout the consent of two-thirds of the Council and by two-thirds vote of the Congregation at a duly called Congregational Meeting.

BANJARA TRIBAL MINISTRIES FUND

(Previously the Tarsus Fund)

Amended 10-2013

Purpose: The purpose of the fund is to providesupport to Banjara Tribal Ministries in India, which operates an orphanage and Christian school for poor and abandoned Banjari children, supports a nursing school for girls, as well as establishes new churches and trains missionaries for the Banjari people.

Name: The name of the fund is the Colonial Park United Church of Banjara Tribal Ministries Fund.
Description: The fund was established in 1983 to pay for one or more scholarships for students attending the American School in Tarsus, Turkey. The assets of the fund come from an initial campaign plus moneys that are contributed annually by members of the congregation. In 2010 Colonial Park UCC support for the Tarsus American School was suspended after it was determined that the school was now an elite private institution. In September 2013 Council voted to use thisfund to support Banjara Tribal Ministries in India and the fund was renamed.
Management of the Fund: The fund will be maintained separately and managed by the Investment Committee of the church. In December each year an amount equal to 5% of the balance in the fund the previous January 1 shall be withdrawn from the fund and sent to Encounter Revival Ministries and designated for Banjara Tribal Ministries.

Reports and Audits: The Investment Committee shall report to the Council quarterly and to the congregation annually on the status of the fund. The accounts and ledgers shall be audited by the congregation’s duly appointed Audit Committee.
Dissolution or Merger: In the event of the dissolution of Colonial Park United Church of Christ, the assets of the Fund shall be distributed in accordance with the distribution of the remaining assets of the congregation. In the event of the merger of the congregation, the Fund shall be transferred intact and subject to the restrictions contained herein to the surviving congregation.

ROSS H. RUDY YOUTH MINISTRY ENDOWMENT FUND

Purpose: To be used for the benefit of youth ministry and programs at the Colonial Park United Church of Christ (“Church”) including, but not limited to, the support of such programs as retreats, field trips, confirmation trips, camp scholarships, and participation in conference and denominational youth events.
Name: The name of the fund is the Ross H. Rudy Youth Ministry Endowment Fund.
Description: The principal sum of said endowment shall be the sum of $7,500 representing the bequest by Ross H. Rudy and an agreed upon sum for accrued interest. The Fund was formally established on October 8, 1984, by resolution of the Church Consistory.
Management of the Fund: The principal sum shall be administered by the Investment Committee of the Church. An amount up to 10% of the total value of the fund at the end of the preceding fiscal year may be spent with two-thirds approval from the Church Council. In the years when the UCC National Youth Event is held, additional funds may be used to pay one-half the registration fee for youth and adult advisors at the discretion of the Council. The balance of the Fund shall not be less than $7,500 at any time.
Reports and Audits: The Investment Committee shall report to the Council quarterly and to the congregation annually on the status of the fund. The accounts and ledgers shall be audited by the congregation’s duly appointed Audit Committee.
Dissolution or Merger: In the event of the dissolution of Colonial Park United Church of Christ, the assets of the Fund shall be distributed in accordance with the distribution of the remaining assets of the congregation. In the event of the merger of the congregation, the Fund shall be transferred intact and subject to the restrictions contained herein to the surviving congregation.

BUILDING FUND