Our Endowment Fund was created some twenty-five years ago with a bequest of about $30,000. No one remembers who left that money to the church, but it was probably included in someone’s will.
By 1986 Al and Eula Daniels were long term and very active members of OCUUC. They had a special place in their hearts for their church and agreed to leave their entire estate to the church when they passed away. Al predeceased Eula very suddenly in 1986 or ’87 and Eula followed him about 10 years later. She left the church $350,000 which was added to our then rather small Endowment Fund. in appreciation of their love for and commitment to Orange Coast UU church we have named our temporary sanctuary Daniels Hall.
There have been several smaller additions to our Endowment Fund since the Daniels’ bequest. Usually, those additions have been left to OCUUC as directed by a member or friend’s will. All bequests over $1,000 are invested in our Endowment Fund unless otherwise stipulated by the will.
Several years ago the congregation voted to put our money into the UUA Common Endowment Fund, or UUCEF and that is where our money is today. The fund is diversified, professionally managed and socially responsible. The objective for the managers of the fund is to maintain and increase the purchasing power with moderate risk. As of July 31, 2015 the UUA fund held $185,126,159.
The Stewards, who are elected by the Members, look after our Endowment Fund.