An endowment is an investment vehicle that ensures that a parish will always have an income. The principal of an endowment is not spent; beneficiaries receive an annual income distribution.
Endowments managed by ACEF distribute approximately 4.5% income each year. Any additional income is reinvested so that in years when financial returns are poor, a distribution can still be made. Over time, as the principal of the endowment increases, so does the income.