What is an Endowment Fund?
The Endowment Fund is a permanent amount of capital invested for growth and income. The assets of the fund are set aside and invested, so that only the interest of the principal is made available for funding church programs and ministries.
What is the purpose of such a fund?
The purpose of the fund is to establish a permanent reserve, the principal of what shall be preserved in perpetuity, and the interest income shall be used to extend the programs of the church. It also provides a means for you to express special thanks to God for blessings and gifts you have received and allows you to return a portion of accumulated assets of your life’s work.
How does the fund grow?
The funds grow through careful investing and appreciation generated through investments. The funds also grow through gifts, memorials and bequests.
Why should I contribute to the Endowment Fund?
We are a community who knows the importance of planning and investing to assure the stability, vitality and future of our church. Your contribution to the Endowment Fund of Tabernacle is an expression of faith, generosity and of gratitude for all the blessings from God.
Who operates the Endowment Fund?
The Endowment Committee shall consist of not less than nine members selected by the Pastor and Joint Board. The committee shall be responsible for encouraging the membership to make contributions to the Endowment Fund. The committee has the responsibility to solicit gifts, and to manage funds. Members of the committee will serve a three-year term and may serve two consecutive terms.
How big a gift is required to contribute to the fund?
Gifts of most any kind and size are welcomed by the fund, however some may be restricted by church policies.
What about special memorial funds, special gifts, contributions in lieu of flowers, etc. are they included in the fund?
Yes. Gifts to a special memorial or special event are given in recognition of a person’s life or celebration of an event in a person’s life.
Can a Company, Business or Foundation donate gifts to the Endowment Fund?
Yes. They would be received and treated as other gifts are received.
How can I contribute to the Endowment Fund?
Endowments are funded through outright gifts, pledges, donations of securities or other non-cash assets as well as through a variety of planned gifts. These gifts include gifts in your will, charitable gifts annuities, beneficiary designations in retirement plans, financial accounts, insurance policies and gifts of property.
What will a gift to the Endowment Fund mean to me?
A gift to the Endowment Fund reflects our faith and love in Christ. As a Christian steward, we give back to God as a way of life out of the abundance from which God has gifted us.
Do I need a will?
Yes! Without a will, the laws of the state will determine who will receive your assets and who will manage your estate. As a result, the state may not include all the persons or charities that you would like to benefit. A will allows you to appoint a guardian for you minor children, choose a representative to carry out your wishes, and determine the final distribution of your estate assets. Giving through a will and through beneficiary designations are some of the simplest ways to make a planned gift. You may state in your will the amount or percentage of assets that are to pass to the church. You receive an estate tax deduction for the gift. There is no limit on the amount that can be deducted for estate tax purposes.
The Endowment Committee invites you to inquire further if you are interested in any area of the Endowment Fund or charitable giving to the church. Please contact the Church Office at 313-898-3325.
