Endowment Fund FAQs
Frequently Asked Questions
What is the SPUMC Endowment Fund?
The SPUMC Endowment Fund is a way to give a lasting gift to SPUMC. Established in 1995, the Fund began distributing earnings in 2009 and since that time has approved over $25,000 in grants. When you give a gift or bequest to the Fund your gift will be invested to provide a legacy of support for SPUMC for many years ahead. The goal of the Endowment Fund is to conserve principal and use the earnings for purposes above and beyond the church’s programs funded by the annual operating budget.
Does my gift ever get completely used up?
No. Disbursements from the Fund are made annually at a rate of approximately 5% of the average value of the invested principal over the past 16 quarters. This ensures maximum preservation of the principle, while allowing growth.
Does this money go towards the operating budget or other campaigns (e.g. capital campaign)?
No, the gifts provided to this Fund are used to benefit the Church in ways outside of the operating budget and funding campaigns.
What are some examples of grants that have been disbursed?
Recent grants that have been disbursed include: KidCheck Sunday school check-in system, donation for Living Well at Wilkins, and digital video camera and microphones for the sanctuary.
How often does the Endowment Fund make disbursements?
The Endowment Fund Committee disburses funds annually, based on an evaluation of requests for grants.
Do I get a say in how the money is spent?
In order to maintain the greatest flexibility to use the funds for the greatest benefit, gifts to the Fund are not earmarked for specific purposes. If you want to make a gift to SPUMC that is earmarked for a specific purpose, that gift should go through the Finance Committee.
What types of gifts can I give?
Your gift can be in the form of cash, stocks, bonds, etc. Cash gifts can be in the form of a check or an online donation.
How do I give to the Endowment Fund?
There are several ways that you can give including an outright gift, leaving a bequest, life insurance and a variety of charitable trusts. Please contact the Endowment Committee (firstname.lastname@example.org) to get further information about ways to give.
Is there a minimum amount for giving to the Endowment Fund?
No. There is no minimum to contribute
Who runs the Endowment Fund?
A committee of active members of the Church including a Finance Representative and a Church Trustee Representative oversee the investment and disbursement of funds.
Is my gift tax deductible?
Yes. Gifts to the Endowment Fund are treated like other gifts to the Church but you should contact your tax professional as everyone’s tax situation is different.