Prepared to Serve
This week I received a call from a church. They were concerned about the security of bequests that a member had given to their church. Two issues were raised:
- What happens to the bequest if the church closes without a successor?
- The possible division of the church resulting from actions taken at the 2022 General Conference.
Ten years ago, these could have been thoughts of longtime church members that were only shared privately between friends. Today, these issues are raised publicly at church meetings, even with the District Superintendent and Bishop present. It is helpful to be able to safely share our fears and concerns openly and honestly.
The Foundation has heard these concerns and takes them seriously. We are well positioned to serve individuals and churches, regardless of church closure or separations within the denomination, as we are a separate organization with our own 501c3 IRS letter.
To provide individuals and families with assistance to reach their philanthropic goals the Foundation has created a Donor Advised Fund and a Donor Endowment Fund. These gift planning vehicles allow donors to name contingent charitable beneficiaries.
For instance, a married couple establishes a donor endowment at the Foundation. Per their instructions, their church will receive income in perpetuity, however, 20 years after their death the church closes without a successor. Their donor endowment, held at the Foundation, states that should the church close, the endowment income will be distributed equally between UMCOR and their college.
One of the great advantages of partnering with the Foundation is that you have access to these gift planning tools and expertise at no cost to you. And the real value is knowing that your gifts and bequests are being managed and invested by a faith-based institution that you can trust.
For more information about gift planning please email Gary Melville or call 800-595-4347 x 103