ENDOWMENT HISTORY

At a November 2000 General Assembly meeting, parishioner Jim Adams suggested the formation of an Endowment Foundation following a substantial memorial donation to Saint Nicholas. Based on Jim’s suggestion, Father Pappas organized a committee to pursue the idea.

It took a while to progress but in May 2005, the first organizational meeting was held with Fr Pappas, Jim Adams, John Jack and Jim Bouzianis in attendance. Legal documents for the Endowment Foundation were prepared by attorney John Bosen and an investment advisor was selected and on June 25, 2005, the Saint Nicholas Endowment Foundation was officially born.

The initial board members were:
James Adams, President
John Bosen
James Bouzianis
John Jack, Treasurer
John Petroulis
Rev. Angelo Pappas, Non-Voting Member
Aristotle Damianos, Ex Officio*
Greg Filias, Ex Officio*

*By-Laws dictate that the parish Council President and Treasurer, by virtue of their role on the Parish Council are automatically on the Board of Directors for the Endowment Foundation.

By-Laws were adopted by the board and with much gratitude to the vision of these initial board members, the Endowment Fund was on a trajectory to positively impact the financial strength and stability of our parish. Among the By-Laws adopted, was a requirement that while donations for agreed upon projects were to be annually dispersed to Saint Nicholas, only the earnings of the invested fund could be used. In that way, all donations to the Endowment Fund would forever remain invested in the fund to grow in perpetuity.

Through the ensuing years, The Endowment Fund has received many donations, small and large and from both parishioners as well as non-parishioners. With the earnings from those donations, the fund has provided annual gifts to Saint Nicholas since 2012 for much needed capital projects for our parish. The fund has successfully grown and now is able to accept many types of donations including memorial donations, bequests, gifts of securities, real estate and life insurance to name a few.

As our parish continues to grow, the Endowment Fund will grow through the generosity of parishioners and non-parishioners alike and will forever provide financial support to Saint Nicholas.