Westminster’s Endowment Fund: Frequently-asked Questions
Westminster’s Endowment Fund: Frequently-asked Questions |
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Westminster Presbyterian Church Outreach and Stewardship > Stewardship > Endowment Fund > Frequently-asked Questions |
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Frequently-asked questions about Westminster’s Endowment Fund:
What is the Endowment Fund?The Westminster Endowment Fund was formed in 2000 as a means of receiving and managing property or monies from bequests and other gifts. The Endowment Committee with approval of Session administers the fund. Its purpose is to broaden and strengthen the ministry of this congregation in its service of Jesus Christ. Establishment of the Fund was effected through a trust agreement, copies of which are available on request. What is the purpose of the Endowment Fund?Westminster Presbyterian Church Endowment Fund was created to expand and enrich the mission of the congregation, not to support the annual operating budget of the Church. The operating budget will continue to be met by annual giving. Estate planning is the responsibility of every Christian. Through it, we can plan for the security of our family and also provide for the work of Christ in the world. Wise use of our assets is part of the fulfillment of our mission and ministry. You provide for your family and the church during your lifetime. The Endowment is a means of assuring that the message of Christ and Christ’s goodness will be shared with future generations. Through a well-conceived estate plan, you can maximize the value of assets you bequeath to your family, the church and others. The principal of the Fund is held in perpetuity and only income accumulated from investment is available for use. The income from the Fund will be used to support items such as mission, facilities, scholarships and education. In the event of an extreme emergency, the principal of the Fund could be used with approval of Session. What may I give to the Endowment Fund?The Fund welcomes gifts of all sizes, large and small. Examples of appropriate gifts include:
A gift acceptance policy is available upon request. May I designate the use of my gift?Yes, however undesignated gifts are preferred because they provide the greatest flexibility in meeting unforeseen needs and capitalizing on unanticipated opportunities. The Gift Acceptance Policy requires that the Endowment committee and Session approve specific designations prior to acceptance. How may I give to the Endowment Fund?By writing a check to the Fund Although tax laws are complex, they are designed to encourage philanthropy. In some cases, a gift to the church now can increase current income. Charitable bequests at the time of death may also reduce estate taxes. Attorneys and other financial professionals can assist you in considering these issues. Whom can I talk to about the Endowment Fund?The pastors, members of Session or Endowment Committee members would be pleased to discuss these important matters with you in more detail. You may call the church office or Mary Hammond (elder on Session and Endowment Committee chair). Why contribute to the Endowment Fund?Every opportunity to give to the work of the church is an opportunity to respond with joy and thanksgiving to God's love and return to God a portion of your blessings. The Endowment allows donors to direct their assets to the Church's ministry for the benefit of future generations. |
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