The Endowment Fund is a permanent fund designed to provide for future funding of church projects beyond out normal operating budget.
“Celebrating our history, enriching our present, and securing our future.”
With a gift to the Endowment Fund, individuals who love St. David’s can leave an enduring legacy; a gift that supports parish ministries in perpetuity. Gifts to the Endowment Fund are invested and never spent. Gifts may be made in life, by bequest, or on a deferred basis. As return on investment accumulates from interest, dividends, and appreciation, grants may be approved for the distribution of funds to meet extraordinary capital needs of the parish and to underwrite special ministries and projects. Such grants will provide enhancements that will be important to our parish’s ongoing vitality and ministry; enhancements that are beyond the reach of annual operating revenues.
During June, 2012, five newly appointed members of the Endowment Board met to review the background and current status of endowment giving at St. David’s, and to organize for the months and years ahead. The meeting was hosted by vestry liaison Marilyn Hedrick, and included members Mark Conard, Howard Cutter, Craig Hall, Cory McCallum, and Robert McGuigan. Mark Conard was named Chair and Craig Hall was named Chair Elect.
In the months ahead, the Endowment Board will be offering practical steps to help you make a living legacy to the life and ministry of St. David’s.
An Introduction to Planned Giving
WILLS – You can provide for a future gift to the Endowment Fund by a bequest in your will. Options to benefit St. David’s can be done by specifying:
• A specific buy xenical au dollar amount;
• A specific amount of property;
• A percentage of the estate; or
• The remainder of the estate after all other gifts have been fulfilled
LIFE INSURANCE – Giving through an existing life insurance policy is an excellent way to make a charitable gift with little to no cost to the donor. The Endowment Fund will accept gifts of life insurance when St. David’s is named owner and beneficiary of an existing policy or St. David’s is named beneficiary of all or a portion of the death benefit proceeds. In order to designate St. David’s as beneficiary of an existing life insurance policy, simply contact your life insurance company to obtain a Change of Beneficiary form.
RETIREMENT PLANS – Gifts through a company retirement plan or other established plan, such as an IRA, are a convenient and low cost way of making a significant gift to the Endowment Fund. Gifts of retirement plans can be made in two ways:
1. Any retirement income not needed to provide for day-to-day living expenses can be donated to St. David’s, which allows the donor to see the benefit of their gift during their lifetime.
2. St. David’s can be designated beneficiary of any excess retirement plan assets at death. Simply contact your plan administrator for a Change of Beneficiary form.
Excess retirement funds held in plans are subject to both income and estate taxes. Naming the Endowment Fund as the charitable beneficiary of a retirement plan can reduce or eliminate estate and income taxes for your heirs.
CHARITABLE REMAINDER TRUSTS – Charitable remainder trusts are another vehicle used by donors who are interested in converting low-yielding assets into a source of additional retirement income without incurring capital gains taxes. In addition, an immediate charitable income tax deduction is available in the year of the gift. There are two types of charitable remainder trusts – a charitable remainder annuity trust which provides the donor(s) with a fixed dollar payout and a charitable remainder unitrust which provides the donor(s) with a fixed percentage payout.
For more information, please contact the Chair of the Endowment Board, Mark E. Conard or the church office at 770-993-6084.
To make an online donation by credit card to the Endowment Fund, click here.
Signed copies of the Endowment Board’s founding documents are available from the church office.