Description

The purpose of this endowment is to provide a permanent, secondary source of earnings to St. John the Baptist, Johnsburg, Illinois to be used for repairs and improvements to the Church building. 10% of the annual earnings will be reinvested into the corpus prior to making a withdrawal from current earnings. If a withdrawal is not needed in a particular year, current earnings will be designated as retained earnings after the 10% reinvestment into corpus. The pastor should consult the St. John’s Endowment Society prior to making a withdrawal of either current or retained earnings.