|
TRINITY LUTHERAN CHURCH
ENDOWMENT FUND
…for the future of our Church…
The Trinity Lutheran Endowment
Fund was established to help our congregation enhance the mission of
the Church, apart from the general operating budget. Gifts will
extend God’s work within our Church and our community.
Endowment funds differ from
annual giving. As a permanent fund, only income from interest or
dividends is available for distribution.
Gifts are always welcome and
donors may designate the purpose and use of all gifts, if they
desire. Gifts to the Endowment Fund provide a means to support your
Church during and after your lifetime.
|
ENDOWMENT FUND FINANCIAL REPORT |
|
as of March 31.2009 |
|
Investment Management |
|
|
|
|
|
|
1)
Thrivent Money Market |
|
|
|
Balance: December 31, 2008 |
|
7,091.24 |
|
Gifts Received |
|
|
- |
|
Dividends Received/Reinvested |
|
15.79 |
|
Balance: March 31, 2009 |
|
7,107.03 |
|
|
|
|
|
|
2)
Thrivent Mutual Funds |
|
|
|
Balance: December 31, 2008 |
|
32,771.16 |
|
Dividends Received/Reinvested |
|
462.69 |
|
Investment Gain/(loss) |
|
|
(800.28) |
|
Balance: March 31, 2009 |
|
31,970.88 |
|
|
|
|
|
|
3)
Thrivent Deposit Agreement Account |
|
|
|
Balance: December 31, 2008 |
|
- |
|
Transfer of life Insurance (maturity) |
|
20,295.82 |
|
Interest Received |
|
|
76.60 |
|
Balance: March 31, 2009 |
|
20,372.42 |
|
|
|
|
|
|
4)
Pyramax Bank - Savings |
|
|
|
Balance: December 31, 2008 |
|
101.00 |
|
Gifts Received |
|
|
- |
|
Interest Earned |
|
|
- |
|
Balance: March 31, 2009 |
|
101.00 |
|
|
|
|
|
|
5)
Deposits held in TLC Reserve Account |
|
|
Balance: December 31, 2008 |
|
- |
|
Gifts Received |
|
|
47.00 |
|
Balance: March 31, 2009 |
|
47.00 |
|
|
|
|
|
|
6)
Life Insurance Policies |
|
|
|
Balance: December 31, 2008 |
|
61,289.00 |
|
Policy 1 |
41,687.000 |
|
|
|
Policy 2 |
19,602.000 |
|
|
|
Interest earned on policy 2 |
|
693.82 |
|
Policy 2 matured and transferred to Deposit Agreement
Account |
(20,295.82) |
|
Balance: March 31, 2009 |
|
41,687.00 |
|
|
|
|
|
|
Total
Assets as of March 31, 2009 |
|
101,285.33 |
USE OF ENDOWMENT FUNDS:
Investment income from the
Endowment Fund is used for the following beneficial purposes not
usually included in the church’s annual operating budget. Gifts may
include donor restricted gifts.
-
Extend the ministries of
the church
-
Provide seed money for new
missions and/or ministries
-
Support special ministries
such as scholarships and youth programs
TYPES OF GIFTS THAT CAN BE
MADE TO THE ENDOWMENT FUND:
The TLC Endowment Fund can
receive many forms of gifts and bequests.
Cash and Securities.
You can make a contribution of cash and securities to the Fund on a
one-time or periodic basis. Gifts of appreciated stock and bonds
often can provide you significant tax advantages.
Real Estate. You can
make a contribution of real estate or other items of value in
consultation with the Endowment Fund Board.
Life Insurance. You
can make a gift to the Fund of an existing life insurance policy or
purchase another policy, with the Fund named as the principal
beneficiary.
Charitable Gift Annuity.
You can create a Charitable Gift Annuity providing income for
yourself or someone else while also providing the Fund a sizable
portion.
Trust. You can
establish a trust with all assets managed by a trustee, with the
Fund as the named beneficiary.
Bequest by Will. You
can make a bequest to the Fund through you will, permitting a gift
to the Church at your death in full accordance with your specified
wishes.
IRA, Profit Sharing, 401(k)
Plan. Because these assets can be subject to both income and
estate taxes at death, designating the Church as beneficiary can
avoid all taxes and maximize the value of the assets.
For more specific information
on gifts click here
FAQ’s
Why does Trinity Lutheran
Church need an Endowment Fund?
The establishment of an endowment fund can provide long-term
viability for the Church and its mission. Funds given will provide
future members of the congregation with a means to support future
missions and ministries.
Can I decide how/when my gift
is used?
Yes, you may request that your gift has a designated use. Please
consult with an Endowment Fund Board member before specifically
designating any gift. Funds that are undesignated will be used to
support various church ministries.
When is a good time to
consider a gift to the Endowment Fund?
Any time is a good time to consider a donation! It is important to
remember that a funeral is not the only appropriate time to donate
to the Fund…your donation will begin its work for the mission of the
Church as soon as you contribute.
What are the benefits of
giving to the Endowment Fund?
Charitable gifts to the Endowment Fund can offer financial benefits
such as a tax deduction, reduction of estate taxes and avoiding
capital gains tax. Please consult with your accountant or attorney
to help you determine the income tax or estate tax benefits of your
proposed gift. In addition, you will be a part of the
advancement of the Church and its mission during your lifetime and
beyond.
Who manages the Endowment Fund
and its usage?
Decisions on the Endowment Fund usage will be based on the
recommendation of the Pastor and the Endowment Fund Board. The
assets of the Endowment Fund are held and managed at Thrivent
Financial for Lutherans. Investment decisions are made with the
recommendation of Thrivent financial advisors and the approval of
the Endowment Fund Board.
FURTHER INFORMATION:
If you are interested in further information or would like to give a
gift at this time, an Endowment Fund Board member would be happy to
meet with you personally to explain the Endowment Fund options and
assist you with any gift you would like to make.
Please contact the church
office
to be put in touch with an
Endowment Fund Board member.
For a copy of our
brochure, click here
|
