Legacy Sunday October 29th, 2017
Permanent Endowment Fund, Todd Brown, Chair
Good Morning, and welcome to Legacy Sunday at St. Paul’s. I am Todd Brown, Chair of the Permanent Endowment Committee I have some exciting news to share with you this morning, which is the creation and launching of a Fund that will be a Legacy and assure the longevity of St Paul’s Church into the future. The Church that we all love. At the end of my comments I have even more exciting news to share with you.
As a way of background, on December 6th, 2016 , a Special Charge Conference was convened for the purpose of considering the establishment of a Permanent Endowment Fund and how it could benefit the Church with an additional stream of revenue for the mission of St. Paul’s. The Charge Conference approved a Resolution to create a Permanent Endowment Fund by a unanimous vote.
The purpose of the Fund is to provide members and friends an opportunity to make charitable gifts to St. Paul’s that will become a financial support and a living memorial. This Church is here because of accumulated dreams, plans and vision of our forefathers. What brought us here today? The love of this Church and Church family.
Recently Pastor Terri Rae delivered a sermon entitled “Looking Toward Tomorrow ” That is exactly what the Permanent Endowment is all about, creating a Legacy. There is a rich heritage here that begins with the corner stone which is dated 1878 – 140 years ago. You can observe the history that surrounds us.
All donations to this Permanent Endowment are treated as charitable gifts and are tax exempt. The Fund is intended for Church purposes; for missions and programs that are not funded through the annual operating budget. Gifts may be designated for specific purposes by the donor.
A Committee was formed to manage, receive and administer all bequest made to the Fund. The Committee has the powers and duties authorized by the current Book of Discipline of the United Methodist Church. I would like to recognize the members of the Committee at this time: Sue Ann Tabler, Sec., Frank Robert, Katie Birger, Bill Gawel, Jeff Creutzer, Doug Jones, Pastor Terri Rae Chattin and my self.
The 3 objectives of the assets held in the Fund
- Preservation of principal
- Prudent usage of distributions from the Fund
- Investment of assets in compliance with the Social Principals of the UM Church
Ways to give
- Outright gifts -would include; cash, publicly traded securities, real property, tangible personal property All gift are tax deductible
- Cash can be donated electronically or via envelopes provided
- Planned (or deferred) gifts — would include; gift through wills, living trusts=charitable trusts, life estate gifts, life insurance policies, gift annuities
A simplified example, once the Fund has accumulated assets of $100,000 and based a return of 4% -there would be $4,000 for programs or ministries. This would be a supplement of $4,000 to the Operating Budget. As the Fund grows you can visualize the positive impact from size and scale that it would have on the budget. You could think of this Endowment Fund as a “forever account”, the principal continues to grow, while the investment income is made available for missions and programs.
I feel that the creation of the Permanent Endowment Fund is a prudent way to assure the Legacy of St. Paul’s UM Church for our children, grandchildren and their children. Currently we are enjoying the Legacy that was passed to us, now it is our responsibility to pass on a financially stable Church for all Christians so that we may grow in faith and witness.
Each one of the Committee Members, including myself, have demonstrated financial support of the Permanent Endowment Fund. Would you join us in our efforts to create a Legacy here at St. Paul’s? In the coming months you can expect to be approached by a Committee member to answer any questions you may have and to ask for your support. It could be that you have already met with a Committee member.
Donor contributions received on or before May 31,2018 will be recognized as Legacy Founders. A plaque recognizing those Legacy Founders will be prominently displayed within the Church.
Contribution levels will be recognized as gold, silver and bronze.
And now for the more exciting news as promised
I am excited to announce that the Fund currently has a balance of close to $40,000 in cash and commitments. I would ask that you prayerfully consider becoming apart of this historic event by contributing to the Permanent Endowment Fund .