In conjunction with our celebration of 60 years of ministry to South Carolina Baptists, the Foundation Board of Trustees has adopted the “Celebrate 60!” program. The primary purpose of this program is to promote endowment and estate stewardship programs in our churches and associations.
As an incentive to begin a new estate planning and endowment ministry or to jump start an existing estate planning and endowment ministry, the Foundation will contribute an additional $1,000 to the endowment funds to the first 60 churches or associations that qualify. To qualify, a church or association must agree to the six Celebrate 60! terms, the first of which is to establish a perpetual endowment fund through the Foundation with a minimum of $9,000 or add $9,000 to an existing endowment fund already at the Foundation.
Why does a church or association need an estate planning and endowment ministry? In a time when an unprecedented amount of wealth will be transferred from one generation to the next through estates, it is essential that churches and associations educate their members about the benefits of planning their estates and about the ways members can give to the church or association through their estate plans. Many people never consider leaving a portion of their estates to ministry simply because no one ever told them they could. Yet, for most people, this is the largest single gift that they would ever be able to make to their church, association, or other ministry. Estate gifts can be given outright or they can be endowed.
Endowments...
- provide an annual, perpetual income stream
- offer a way for individuals to continue giving, even after their lifetimes
- provide comfort in knowing that financial income will continue to be provided for the spiritual needs of their children and grandchildren
- provide a way for members to leave memorials and honorariums
- encourage estate gifts
- are attractive to those individuals that would prefer smaller annual gifts over one large lump sum gift
Many churches and associations are struggling today. Giving through the offering plate is down. They are concerned about future gifts if the giving trend declines. It's important, therefore, to provide a way for members who are concerned about future giving trends to provide for needs through their estate gifts.
Where will your church or association find $9,000 to establish an endowment in these difficult economic times? Many churches and associations are already managing endowed gifts themselves. Consider transferring these already endowed gifts to the Foundation. Another alternative is to talk to one or several members of your church or association who might be inclined to establish an endowment for your ministry. The Foundation will be glad to share with members how to begin an endowment fund.
As with any program that affects your ministry, cover any consideration in prayer. Ask your members to join you in praying about establishing an estate stewardship ministry and to raise up those who will have the passion to get this ministry started.
What are the six Celebrate 60! terms?
Church Terms:
- Establish an irrevocable endowment with a minimum of $9,000 or contribute a minimum of $9,000 to an existing irrevocable endowment through the Foundation
- Allow a Foundation staff member to present the Foundation's $1,000 contribution to the church at a church service (preferably Sunday morning)
- Publish the Foundation's contribution in the church newsletter
- Allow the Foundation to conduct at least one estate planning seminar to a group (senior adult meeting, Sunday night class, etc.) at the church within one year of the Foundations' contribution
- Allow the Foundation to present information about the Foundation's services (investment, estate planning program through FoundationLinc, etc.) to church leadership (deacons, finance committee, etc.) within one year of the Foundation's contribution
- Promote estate planning through bulletin stuffers/brochures provided by the Foundation
Association Terms:
- Establish an irrevocable endowment with a minimum of $9,000 or contribute a minimum of $9,000 to an existing irrevocable endowment through the Foundation
- Allow a Foundation staff member to present the Foundation's $1,000 contribution at the next fall or spring associational meeting
- Publish the Foundation's contribution in the association's newsletter and/or on the website
- All the Foundation to present information about the Foundation's services (investment, estate planning program through FoundationLinc, etc.) at an associational pastor's meeting
- Promote the association's endowment to the churches through at least one medium (mailing, e-promotion, etc.) within one year of the Foundation's contribution
- Display Foundation brochures in the association office
Church/Association Benefits:
- The Foundation contributes an additional 11% maximum of the initial contribution made by the church/association
- The church/association receives annual distribution checks (based on a $10,000 endowment and the Foundation's current spending policy, the church/association would receive approximately $500 annually after the initial 12 quarters)
- The church/association receives free estate stewardship training for members
- The church/association receives materials to promote estate giving
- The church/association realizes increased opportunities for giving outright to their ministry and to build their endowment through estate stewardship
Questions and Answers:
Q: Can a church/association add $9,000 to an existing endowment and receive the $1,000 contribution?
A: Yes. The first 60 churches/associations that contribute $9,000 in new funds to a new or existing irrevocable endowment with the Foundation will receive a $1,000 contribution from the Foundation.
Q: If a church establishes an endowment for more than $9,000, will the Foundation increase its contribution?
A: No. The Foundation will contribute no more than $1,000 per church/association.
Q: If a church establishes a $9,000 endowment in September, will the Foundation retroactively contribute $1,000?
A: The program begins November 1, 2010. Prior endowed contributions will not be eligible.
Q: Can a church/association establish an endowment with less than $9,000 and the Foundation give the $1,000 when the $9,000 goal is reached?
A: No. A minimum of $9,000 at one time is required to receive the $1,000. If the church wants to participate but does not have $9,000 initially, the Foundation can assist the church with strategies to help raise the funds to meet the minimum required contribution.
Interested?
Fill out the form below to request more information or to have a Foundation representative contact you about the Celebrate 60! program.
Celebrate 60! Interest Form
