Due to the generous donations and bequests from congregation members over the years, the BELC Endowment Fund achieved a market value of $46,063.24 as of the end of the second quarter of 2004. This represents a return on our investments of 22% for the year 2003...and a gain in market value of over $10,000 since March 31, 2003! The "down" market dilemma appears to be over, the turnaround is at hand, and we anticipate a sustained, steady upward movement in the financial markets. The BELC Endowment Fund Committee feels that the current positive economic climate offers a bright future for the Fund. Members and friends of BELC who have conributed to the fund should be very proud of the legacy that they have built together. It is never too late to help in building the vessel that contains the spirit of the Lord. During the second quarter of 2004, $619 was added to the Fund from monetary gifts donated from various contributors. Collectively, we can accomplish much more than anyone of us thought possible. Our gifts to the Fund are a genuine way to leave a heritage that says, 'God has been good to us and we are joyful in sharing our bounty'.

As previously reported, the BELC Endowment Fund Committee has reinvested all Fund earnings so that the Fund would continue to grow and become a considerable sum. Thanks to the grace of God, the Fund has reached a significant level, and the time is fast approaching when the Committee may begin using the income generated from the Fund to enhance the Church's mission that is apart from the congregation's general operating budget. Examples of the various purposes for Fund uses are: scholarships and grants for church-related education, camping and leadership conferences, world mission and ecumenism, capital improvements, debt reduction and building programs, and special neighborhood outreach programs.

If you would like more information about the Fun, please contact a Committee member. The members are: Otto Kern, Kurt Kollmeyer, Dr. Ron Miller, Bob Sterling and Ken Teter.

Ken Teter

BELC Endowment Fund Committee