Contributions to FUMC Foundation can be in the form of a current asset or a deferred gift. The more common gift mechanisms are:
- Outright gifts of cash, stock, bonds or real estate
- Pledge of cash to be paid over several years
- Bequest of cash, stock, bonds or real estate identified in the donor’s will
- Donation of a paid-up life insurance policy or naming the Foundation as the beneficiary of an active life insurance policy
- Charitable Remainder Trust consisting of cash, stocks and/or bonds.
Establishing a Named Endowment
Ever since our church was founded in 1869, members, past and present, have contributed to the purposes of our Lord and the establishment of one of the finest congregations in our community. When the FUMC Foundation was established in 1982, the legacy of a permanent financial foundation, to support the church and its programs in good times and less fortunate times, was created.
The mission statement of the Foundation, Preparing for Tomorrow Today, expresses the purpose of endowed funds. Endowments held in perpetuity, with an emphasis on long-term growth, are one of the most secure sources of future revenue available. Every family or individual member of First Church is encouraged to have a lasting impact on the future of our church and its missions, locally and worldwide, by considering the establishment of a named endowment.
An endowment is a gift held in perpetuity and prudently invested to protect the gift from inflation. It can be property, insurance, stocks, cash, or deferred estate gifts. The investment dividends or interest are used to provide a stable, continuing income for the intended purpose or purposes of the endowment.
Perhaps the benefactor wishes to memorialize a loved one, provide for a bible school or church camping program, support the music programs of the church on a continuing basis, or, even, help with the landscaping and maintenance of the church property. Pastor and staff positions, even, can be endowed, in whole or in part, to provide continuing support to the annual operating budget of the church.
FUMC Foundation endowment monies are pooled and managed by qualified congregational members who volunteer their accounting and investment skills as advisory to the Board of Directors. Pooling the gifts allows the Foundation to achieve greater diversity in its investments, lower costs, and a maximum return on donor gifts without losing the intended purpose of each, individual named endowment.
Planning an endowment gift can be creative, challenging, and rewarding! Your gift to the church Foundation can be structured to fit your needs, intents, and financial goals. Deferred gifts can be part or all of an estate or life insurance. There are specific tax benefits that can result from an endowment gift. You may receive federal income tax benefits, avoid or reduce capital gains tax liability, or qualify for estate or gift tax deductions.
Consultation with your attorney or accountant will help you to maximize your personal financial benefits and optimize your intentions for the church.
If you would like to set up a new Ministry Enhancement Account, here are the steps:
- A designated donation of at least $25,000 is required.
- The FUMC Board of Directors must approve.
- Each MEA must have a stated purpose.
- Each MEA must state the persons qualified to make requests.
- Each MEA may state alternate closing conditions.