What is an endowment and what is its purpose?
Gifts made to an endowment are invested in perpetuity to produce ongoing income. The Foundation’s endowment presents people of faith with an opportunity to make a spiritual statement about their accumulated assets just as they have done with their discretionary income over the years while providing a perpetual source of funds for the Church and its Affiliates. Establishing an endowment affirms that we believe (1) in the future of this ministry (2) that everything that we have is from God and (3) that we can create a heritage that is as rich or richer than the one we enjoy now.
How are endowment gifts different from regular gifts to the Church?
The gifts are different in two ways: (1) Endowed gifts are aimed at securing the ministry of the church and its affiliates into the future. Most gift funds have all, or a major portion, of the original gift permanently invested. (2) Endowment funds do not replace any part of the regular Church budget which is primarily funded through tithes and offerings.
Don’t I need a large amount of money or other assets to make an endowment gift?
Absolutely not! Gifts of any size can be made to any of the endowment funds. Your gift will work together with the gifts of others to produce annual income that will be used to sustain and extend the ministry of Saint Paul’s Baptist Church and its corporate affiliates.
What types of gifts are acceptable?
The Foundation accepts gifts of cash, securities, real and personal properties, bequests, life insurance, life annuities and more.
Who invests the funds and how?
All funds are invested by third-party professional asset managers in a manner that is consistent with the philosophy and policies of the Foundation.
What assurances do I have that my gift will be used for my stated purpose?
The Board of Directors is held legally responsible to see that your gift is managed and distributed according to your stated purposes and the Foundation’s board approved policies.
Are there tax advantages in giving to the Foundation?
Certain types of gifts may result in substantial tax advantages for the donor. Potential donors are advised to work with their own attorneys or estate planners before making final decisions about major gifts and bequests to understand the extent of the tax benefit.