THE PERMANENT ENDOWMENT PROGRAM OF FIRST CHURCH OLYMPIA
Established in 2011 by vote of the All Church Conference
“And God is able to provide you with every blessing in abundance, so that by always having enough of everything, you may share abundantly in every good work.” 1 Corinthians 9:8
You are invited to participate in the First United Methodist Church of Olympia Permanent Endowment Program.
WHAT IS TH PURPOSE OF THE ENDOWMENT PROGRAM?
An endowment is a gift that keeps on giving, continuously, like a tree that bears fruit every season. It is a gift that is permanent - only the interest earned (the “fruits”) from the Endowment Program investments are expended.
The purpose of the Program is to enhance the work of our church now and into the future by allowing us to respond to new ministries in addition to, and separate from, the general operation of the congregation. The Permanent Endowment Program is established to provide a convenient and clear method for persons to make lasting gifts to First UMC of Olympia either during their lifetime or through their will.
HOW DOES IT WORK?
All gifts received will be invested in income producing, socially responsible investments. The gift (the “tree”) will remain a permanent part of the Program. The income (the “fruits”) generated from the Program will be available for expenditure for missions, property, donor designated and ministries as determined by the church leadership (for undesignated gifts). There are four funds:
- General (Undesignated)
- Mission Fund (Designated)
- Property Fund (Designated)
- Donor or Purpose-Named Fund (Designated)
HOW CAN A GIFT BE GIVEN?
Gifts to the Permanent Endowment Program can be made in a variety of ways which might include cash, securities, real estate, personal property, life insurance contracts, retirement funds, collectibles and commodities.
WHAT DOES THE PERMANENT ENDOWMENT PROGRAM MEAN TO THE CHURCH?
It will provide our church with the flexibility to respond quickly to new opportunities for Christian service, initiate new pilot programs and provide funds for scholarships. (Please note: the Endowment Program was not created to reduce or replace items in the Annual Church Operating Budget.)
The Permanent Endowment Program Committee is made up of members elected by the congregation. This Committee, as stewards of the Program, has the objective of administering the Program as a reliable source of support for First UMC. The committee’s actions and responsibilities are outlined in the Permanent Endowment Program Charter. (This charter is available to any interested party through the Church Office.)
WHY CONSIDER THIS TYPE OF GIFT?
- It is good stewardship.
- It will expand the mission which the Church can provide to the community.
- It could benefit the donor’s estate.
- The gift makes a long-term statement of your faith in the future of Christ’s Church.
- The benefits outlive the donor.
- The gift could memorialize an event or the faith of a designated person or group.
BEQUESTS & WILLS
A bequest is a gift made to the church through a provision in your will and assures that your property will be distributed in accordance with your wishes. Bequests to the First United Methodist Church of Olympia Permanent Endowment Program (a qualified charitable organization) are currently free of state and federal estate taxes and inheritance taxes.
Establishing your Will can prevent many problems in the distribution of your property after death. The way you distribute your assets will determine the impact your estate will have on the society you leave behind.
If you have not already established your Will, you should consider doing so. If you have a Will you might consider having it reviewed in light of recent tax law changes.
If you or your attorney are concerned with the correct language to use in establishing a bequest to the church you should speak with a member of the Permanent Endowment Committee. If this person does not have the answer they will know where to find it. The counsel of an attorney is recommended when making these kinds of gifts.