Legacy Fund
Our Cathedral established a separately incorporated endowment fund in the Spring of 2005. The purpose of the endowment fund is to provide permanent financial support for our Cathedral’s ministry programs and other special needs. Gifts to the endowment are invested pursuant to a professionally designed investment strategy that targets long term returns of at least 8% and limits distributions in any given year to no more than 6% of the value of the fund. In other words, gifts to the endowment fund are effectively perpetual, and will continue to support our Cathedral and its programs long after the date of the original gift.
In this sense, our endowment fund helps to define and shape our Orthodox legacy for the future generations. For this reason, we have chosen to name our Annunciation Greek Orthodox Endowment Fund as The Annunciation Legacy Fund.
In a relatively short period of time, the Annunciation Legacy Fund has become a first rate, state of the art endowment fund that includes the following key attributes:
- Professionally managed investment of all fund assets pursuant to an investment policy that (i) manage risk through diversification, (ii) seeks to achieve long term capital growth and capital preservation, and (iii) targets a five year retrun of 8% per year (after all fees and expenses).
- Annual distribution limit equal to 6% of the fund’s average value over the preceding 12 quarters.
- Separately incorporated Texas non-profit corporation with federal “tax exempt” status (contributions tax deductable).
- Separately prepared and independently audited financial statements.
The Annunciation Legacy Fund is an excellent vehicle for the making of planed gifts that benefit Annunciation Greek Orthodox Cathedral.
Please consider investing in the future to Annunciation Legacy Fund or including it in your financial plans.
Annunciation Greek Orthodox Cathedral
3511 Yoakum Boulevard
Houston, TX 77006
Office: (713) 526-5377
Fax: (713) 526-1048
Office Hours: Weekdays 8am-4:30pm
