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Other seed fell into good
soil and brought forth grain, growing up and
increasing and yielding thirty and sixty and a
hundredfold. Mark 4:8
WANTED: Good Ideas for
Ministry that Cost Money
(The 2011 BAPC Endowment Fund Application
Campaign)
Endowment Fund Committee
Reports
2008 Report
2009 Report |
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What is an Endowment Fund?
An Endowment Fund is a collection of assets given by
individuals and managed by the church in
perpetuity and invested to generate income to be
available to support designated purposes. An
Endowment Fund exists to enable individuals to
support the Church for the long term either
through gifts made during their life or at the
end of their life.
Why does Bon Air Presbyterian Church have an
Endowment Fund?
The Session approved the establishment of the Endowment
Fund of Bon Air Presbyterian Church in the fall
of 2004. Now and in future generations, this
Endowment Fund enhances and expands the mission
of Bon Air Presbyterian Church, Seeking and
Serving Christ to make a difference.
The Endowment Fund is established to enable members and
friends of the congregation to express their
gratitude to God, their appreciation of the
saints who established and built the church, and
their desire to leave a legacy to future
generations that will carry on the mission of
the church. A gift upon death is a final
opportunity for stewardship and personal
fulfillment, and a permanent declaration of
one's values to future generations.
What is the value of the Endowment Fund?
The Endowment Fund was launched within the congregation
in 2005. Through receipt of generous gifts and
initial investments the value of the fund has
grown to more than $88,000 at the end of 2007.
It is anticipated that the Endowment Fund will
continue to grow through additional gifts,
bequests, and investments.
How Are The Endowment Fund Assets Used?
Annual resources provided by the Endowment Fund are
intended to support new or expanded ministries
over and above the budgeted expenses of the
church, in the following areas:
Outreach ministries and benevolences
Building and capital improvements
New or special church programs
The Endowment Fund will make available annually
5% of the Fund's average value calculated over
several quarters for the above ministries. The
Session directs the use of the annual
distributions from the Endowment Fund. The
Endowment Fund Distribution Committee receives
applications until September 15 each year for
programs that will benefit the following
calendar year. The Committee recommends selected
programs to the Session for approval at its
October meeting.
Past projects that have been made possible by
the Endowment Fund include a Youth Work Katrina
Mission Trip to Louisiana, the Women's Retreat
Living Waters, and the adoption of a residential
apartment at Gateway Homes.
2008 projects included:
Resources for the Friendship Café ministry of
Senior Connections
Caring for Creation initiatives for energy
savings on church property
Additional funding for the second year of Living
Waters
Spiritual Renewal Weekend: Building Peace and
Justice, featuring distinguished "Theologian of
the City," Dr. Robert Linthicum.
How Can We Participate?
After fulfilling one's annual stewardship
commitments to the Church, consider making a
special gift to the Church's Endowment Fund. The
Endowment Fund welcomes gifts of all sizes.
The Birthday Gift program encourages members and
friends to contribute a dollar for each year of
age in recognition that every year of life is a
gift from God. In the long-term, bequests or
other estate plans are anticipated to offer the
greatest future growth for the Endowment.
Gifts may be made in a variety of forms, many of
which can provide benefits to the donors:
Cash or check - simple to give and receive,
usually tax deductible.
Pledge - make a statement of intent now for
payment at a future date.
Stock - giving shares of appreciated stock or
mutual funds can avoid capital gains taxes.
Real estate - giving appreciated real estate can
avoid capital gains and other transfer costs.
Bequest - name the Endowment Fund for a set
dollar amount, a percentage of one's estate, or
a residual in one's will or a codicil to satisfy
estate goals. Suggested bequest language is
available from the Endowment Fund Committee upon
request.
Life insurance - make the Endowment Fund the
beneficiary of an existing policy or a
newly-established one.
Retirement plan - leave the Endowment Fund all
or a portion of a qualified retirement plan
(e.g. IRA, Roth IRA, 401(k), etc.) for possible
tax advantages to your estate and heirs.
POD accounts - name the Endowment Fund the
payable upon death beneficiary for money market,
or other bank accounts for possible tax
advantages to one's estate and heirs.
This information does not constitute tax advice.
Please consult your financial advisor on the tax
benefits of any charitable gift.
Who Manages the Endowment Fund?
The Endowment Fund and its investments are
managed by a committee of five congregation
members elected by the Session to serve for
five-year terms. The Pastor serves as an
ex-officio member of the committee. Current
members of the committee are:
Nikki Morris, Chair
Kraig Negaard, Treasurer
Gina Turner, Secretary
George Comstock
Joy Winstead
Jerry Quigg
For more information on estate planning, or for
confidential assistance with participation, you
may contact any member of the committee, or
email:
Updated January 2010
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