1. St. Nicholas Greek Orthodox Church
Endowment Fund Update for the Argonauts
May 10th, 2018
Stephen Karniotis & Nick Feles

2. Agenda Background Board of Trustees Financial Status Donation Strategy
How you can help grow the Endowment Fund
Q & A

3. Endowment Fund Background
Started in 2006 with donations from Helen ”Elie” Manos
Additional donation from Tom & Beck Demery brought the value to $ 1,000,000 in 2007
Primary Goal:
Provide long term financial stability to support programs, ministries, organizations, and charities of Saint Nicholas
Is not used to pay church operating expenses

4. Current Board of Trustees
Current Trustees:
Stephen Karniotis, Chairperson
Nick Feles, Secretary
Aaron Cloutier
Patrick Crosson
Dino Kostopoulos
Timo Nicholaou
Financial Advisor:
Mark Corombos, Partner, Plante-Moran
Ex-Officio
Fr. Stratton Dorozenski
Fr. Michael Manos
Peter Michalakis, President, Parish Council

5. Current Financial Status
Financials as of April 30th
Current Value: $2,105,363
Distributions via the Endowment Fund since 2006
Over $ 420,000
FY 2017 ROI = 14.4%
ROI since inception = 5.37%
Argonauts have received $ 64,275.55

6. How Distributions Occur
Fiscal Year ends October 31st
Distributions occur only when the Fund is profitable
50% of the profit is invested back into the fund
50% can be used for distributions
If the Fund is not profitable, distributions do not occur until losses are returned into the fund

7. Distribution Strategy
Allocations specific to donations made via Wills
New for 2017: Endowment Grant Application
Ministries within the church can apply for an Endowment Grant
For 2017, $ 54,500 was allocated via the Endowment Grant Process

8. Results of the 2017 Grant Program
4 Grants were received by 10/31/2017
Men’s Lenten Retreat
Community Center Technology Support
Senior GOYA Trip to NYC to visit the Archdiocese, St. Nicholas Shrine, etc.
Various ministry programs supported by the Parish

9. Pictures from the GOYA Trip

10. Grow The Endowment Fund
Here’s the list of items that can be donated
Bequest (Will)
Matching Gift
Gift of Cash
Gift of Securities
Gift of Life Insurance
Gift of Real Estate
Qualified Retirement Plans
Charitable Gift Annuity
Deferred Gift Annuity
Charitable Lead Trust
Charitable Remainder Trust

11. How to Donate To The Endowment Fund
Consult your attorney
Ask a Board of Trustees Member
Ask Father Stratton or Father Michael
Church Tax ID:
All donations must include the Church’s Tax ID and specifically designate the St. Nicholas Endowment Fund as the recipient of the donation.
Any other stipulations must be fully documented with the donation.

12. Questions & Next Steps

13. Thank You