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Account Types

Heartspring manages many different types of funds for churches and other ministries. Below is a list of the most common fund types, along with a brief description of each. Please contact us if you have any questions about investing with Heartspring.

Endowment Account
A fund designed to provide perpetual income to your church or agency and its ministries. Endowments are often funded initially by a single large gift and then continue to grow thanks to ongoing contributions and long-term investment management. These accounts are invested in diversified portfolios consistent with long-term investment horizons.

Scholarship Account
A fund designed to provide college scholarships for youth. Scholarships must be awarded in a non-discriminatory manner. Talk with the Foundation to help determine an appropriate portfolio selection model for your specific scholarship requirements.

Project Account
A fund to collect and disburse funds for a project with a defined life of three years or less, such as a building campaign. All money raised in this account will be spent.

Investment Management Account
A fund to use for general operations and miscellaneous funding needs. There are no restrictions as to the use of principal and interest.

Reserve Account
A fund designed to amass a short-term cash reserve or handle prepaid pledges. Some churches and other ministries use a maintenance reserve account to deposit proceeds from endowments and hold them for big-ticket repair projects. This account is normally invested in the Money Market or Guaranteed Portfolio. There are no restrictions as to the use of principal and interest.

Certificate of Participation (COP) Account
A one-, two- or three-year time deposit to provide a fixed rate of return, very much like a bank CD. For more details, including this month’s current rate, visit COPs.

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