1999
P. Donald White
Endowment Funds: Friend or Foe?
This thesis explores the effect of endowment funds on Episcopal parishes. The thesis begins with a review of the literature in the area of church finance. It looks at the history of church funding in the United States and what analysts are predicting for the 21st century. The controversy regarding the effect endowment funds have on congregations is then explored. Using the lens of systems theory, a case study of five Episcopal parishes with endowments in excess of $1,000,000.oo is presented. The thesis explores the differences between endowed clergy-focused parishes and endowed mission-focused parishes.