On January 21, 1996, the UUCB Board of Trustees (the “Board”) voted to approve a Resolution to Establish the UUCB Endowment Fund (the “Original Resolution”). The Original Resolution stated that “the purpose of the Fund is to enhance the mission of the Unitarian Universalist Church of Boulder apart from the general operation of the congregation and no portion of the income generated by the fund shall be used for the annual operating budget of the congregation.” The Original Resolution included provisions related to the establishment and duties of an Endowment Fund Committee and annual distribution of fund income.
Twenty-five years have passed since the Board adopted the Original Resolution. The Fund has grown from a single $1,000.00 contribution to a current value of more than half a million dollars. This growth in value is attributable to the generous donations of members and friends as well as the dedicated and skillful management of the fund by members serving on the Endowment Fund Committee. In addition, multiple distributions of fund income over the years have significantly contributed to the physical condition of UUCB’s property, social justice causes, and the growth and development of Unitarian Universalist leadership. UUCB is incredibly fortunate to have this asset, and it owes a debt of gratitude to the foresight of the 1996 Board and to all who have contributed to the Fund’s success.
Last year, representatives of the Board of Trustees, Stewardship Council, and Endowment Fund Committee initiated an effort to update the Original Resolution. The purpose of updating the Original Resolution was to stay true to the fund’s original purpose and intent of enhancing UUCB’s mission while accomplishing the following:
- Conforming the Resolution to modern best practices for nonprofits and religious organizations.
- Clearly defining the corpus to be the principal of the fund as distinct from accrued income or interest. To honor the trust of past, present, and future donors, the Fund will not invade the corpus unless voted upon by the congregation.
- Ensuring the security of the Fund.
- Avoiding principles rooted in white supremacy culture.
- Adding provisions to address situations not specifically addressed–and perhaps not contemplated–in the Original Resolution, such as major capital improvements and UUCB’s preservation.
- Updating and clarifying the role of the Endowment Fund Committee and the Board.
After many discussions and redlines, the group sent an Updated Endowment Resolution to the Board. At its regular meeting on February 17, 2021, the Board unanimously adopted the updated Resolution. Updated UUCB Endowment Resolution– Final Approved – Google Docs The following month, the Board approved an updated Endowment Committee Charter. Some questions and concerns related to the Updated UUCB Endowment Resolution were raised about the update at the Annual Congregational Meeting in May 2021. Key stakeholders will be meeting in August 2021 to address the concerns.
This update is an exciting evolution of the Endowment Fund and will help to serve UUCB’s mission into the future. The Endowment Fund continues to accept contributions. Please contact UUCB if you are interested in making a contribution.