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SPUMC’S PERMANENT ENDOWMENT FUND
THE
GIFT THAT KEEPS ON GIVING
WHAT IS SPUMC’S PERMANENT ENDOWMENT FUND?
Severna Park United Methodist Church’s Permanent Endowment Fund
was established in 1996 to offer members and friends of the Church
an opportunity to make charitable gifts that will provide a permanent
source of financial support for the programs, facilities and missions of
the SPUMC.
HOW ARE GIFTS MANAGED?
Gifts to the Endowment Fund are invested by the SPUMC’S
Endowment Committee in accordance with strict guidelines intended
primarily to conserve principal and provide a reasonable return.
Distributions from the Endowment Fund are limited to the earnings on the
contributions to the Endowment Fund.
HOW ARE THE GIFTS USED?
Earnings generated by Endowment Fund investments are used to
support special needs of SPUMC over and above those normally included
in the annual operating budget, including the following:
·
Missions in and beyond SPUMC
·
Improvements to Church buildings and grounds
·
Special needs and ministries
The
specific use of Endowment Fund earnings will be determined annually by
SPUMC’s Church Council, based on recommendations from the Endowment
Committee.
TYPES OF GIFTS
The Endowment Fund is authorized to accept as gifts virtually
any type of real or personal property; however, cash gifts are the most
common and provide the most flexibility to the Endowment Committee.
Stocks, bonds and other marketable securities are also particularly
suitable as gifts to the Endowment Fund.
WHEN TO GIVE
Gifts to the Endowment Fund may be made at any time, either
during the donor’s lifetime or as a specific bequest in the donor’s last
will and testament.
REASONS TO GIVE
Giving to the Endowment Fund is an opportunity to experience
spiritual growth and satisfaction by supporting the purposes and
missions of SPUMC. At the same time, donors can perpetuate the memory of
a loved one; celebrate a special occasion, such as a birth, graduation,
wedding, anniversary or retirement; or honor the work or contributions
of a pastor, family member or friend. In addition, there are usually
significant tax benefits associated with gifts to the Endowment Fund.
OTHER OPPORTUNITIES
The income and estate laws give rise to many opportunities
that are more sophisticated than outright gifts of cash, stocks, bonds
and other marketable securities. They include gifts of life insurance
policies, charitable annuities and assets in a retirement account; the
use of charitable lead trusts and charitable remainder trusts; and
transfers of residences with the reservation of a life estate. These
alternatives are powerful tools that can be used for the glory of God
and as part of a thoughtful financial plan. Anyone considering such a
gift is advised to consult his or her attorney, accountant, personal
financial advisor or other professional consultant.
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