The Annunciation Endowment Fund was established in 1983 for the purpose of managing funds donated to the area parishes for specific purposes. Donations to the fund can be in the form of cash, securities, or fixed assets such as real property. A separate fund is set up for each donor (or donor group) and proceeds are distributed in accordance with the philanthropic wishes of the donor(s).
The Board of Directors has developed and Investment Policy Statement which defines investment goals, asset allocation rules, risk management, performance measurement, and spending policy. A copy is available upon request.
Any individual or group can request that a new fund be established for specific philanthropic purposes by making a donation and specifying the conditions for satisfying grant requests.
A Board of Directors is elected by the Annunciation General Assembly to serve 5 year staggered terms. This provides for long term management of the fund and a smooth transition of Board members. Additionally, the Annunciation Parish Council selects a member annually to serve on the Board of Directors and ensure communication and cooperation between the Board and Parish Council. This provides for the necessary liaison between the Council’s financial management of current Church affairs and the Board’s long-range fund management. Such cooperation ensures that the respective financial plans are working in the same direction towards common goals, for the benefit of the Parish.
Funds A and B specify that the principal will be preserved and only the earnings spent. Fund C is a fund that will eventually be exhausted as specified by the donors.
Fund A is intended to benefit the Greek Orthodox Community of Sacramento by financially supporting such programs as Greek language, Parochial School, and other youth activities.
Fund B is intended to support creative and performing art activities as well as social and educational projects to promote the ideals of Hellenic culture and heritage.
Established by her husband Denny Boom, family and friends in memory of Jorgi Nicholau Boom who passed away of cancer at age 46. The Fund is intended to celebrate her life and has been set up with two main goals: (1) to provide on-going educational opportunities for college students and (2) to enhance support of the Annunciation of Sacramento Philoptochos Kid’s n Cancer program at St. Nicholas Ranch.