Preparing for the Future

Date posted: Thursday 04 January 2018

The Bega Kwa Bega initiative embodies the amazing gift of relationship between peoples joined in service to our God. Many collaborative activities have developed and expanded in the thirty years since its founding. A more formal organization of Bega Kwa Bega has emerged to keep pace with the success and ensure appropriate oversight by the Saint Paul Area Synod of the ELCA and the Iringa Diocese (DIRA) of the ELCT. In November, 2017, an important funding mechanism was activated with the establishment of a mission endowment fund, the Bega Kwa Bega Endowment Fund.

 

A mission endowment fund is designed to fund current and future ministry by accepting gifts from members and friends. The fund generates distributions as the fund grows primarily through additional gifts and interest on investments. The synod is using the ELCA Endowment Pooled Trust - Fund A for the management of this endowment. The ELCA Endowment Pooled Trust - Fund A is a commingled fund, governed by the Board of Trustees appointed by the Church Council of the ELCA. The fund is a long-term investment vehicle (3-5 years minimum), has broad diversification with six asset classes, and follows social purpose investing consistent with ELCA principles.

 

The purpose of the Bega Kwa Bega Endowment Fund is to support the companion synod relationship through:

  1. Projects in alignment with the mission, vision, and values of the SPAS and DIRA as animated through the Bega Kwa Bega organization.
  2. Projects and priorities identified in the strategic plan of Bega Kwa Bega through the leadership of the Iringa Committee.
  3. Organizational development including support for the long-term sustainability of Bega Kwa Bega.

 

The Iringa Committee will manage the operation of the fund by annually appointing three members (a minimum of one member to be a voting member of the Iringa Committee) to the Endowment Working Group. This working group will direct funds to the ELCA Foundation, recommend disbursements, and report on financial activity. Distribution of funds and financial accounting is specified in the document approved by the Synod Council and Bishop.

 

Those interested in ensuring the future of the work of Bega Kwa Bega may contribute to the Bega Kwa Bega Endowment Fund. For information, please contact: Becky Palmgren, Regional Gift Planner at 763-757-9302 (office) or 763-464-3584 (cell).

 

Linka Holey
BKB Endowment Fund

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