Enduring Grace Endowment Fund - Frequently Asked Questions
Grace Church has created the “Enduring Grace” endowment fund so that members and friends can make gifts to Grace Church that become permanent endowments providing financial support and a living memorial to support the mission and ministries of the church for generations and generations to come.
What is an endowment fund? A fund generated by gifts or bequests of money or property donated to an institution, usually with the stipulation that they be invested, and the principal amount of the donation remain intact in perpetuity or for a defined time period, with earnings or interest made available and used to support the work of a particular nonprofit organization.
What is the Enduring Grace endowment fund? The Enduring Grace endowment fund will actually be a collection of many individual endowments as directed by individual donors and Grace Church. Donors will give with the condition, or Grace Church will apply the restriction, that the Church preserve the original gift in its endowment in perpetuity and spend only the annual income.
What is the role of the Enduring Grace endowment fund? The income, earnings or interest will be used to support the missions and ministries of Grace Church for years and years to come.
How can I give? Gifts can be made to the Enduring Grace Fund through your will, a monetary gift, a life insurance policy, a charitable gift annuity, gift of real estate or transfer of stocks, bonds or securities.
How can I designate my gift? You may designate your gift for special use by the church in your will or in the terms of your gift annuity or other document. Gifts may be designated for special needs and ministries such as Christian Education Ministries, Caring Ministries, Worship Ministries, Fellowship Ministries, Discipleship Ministries, or Outreach Ministries; or they may be designated for building projects, such as construction, additions, major modifications, repairs or ongoing maintenance; or they may be designated for mission projects. They may also be designated for the Gerald D. Kauffman Ministerial Scholarship Fund.
If I do not designate my gift, who decides whether it will become a part of the Enduring Grace Endowment Fund? The Administrative Council of Grace Church will decide whether undesignated gifts will be added to the Fund and the Enduring Grace Committee will assign the gift to one of the following projects: General Ministry Projects, Building, or Mission Projects.
What is the difference between endowment gifts and annual giving? Annual giving helps ensure that Grace Church is financially strong each year, while the endowment builds a strong foundation for coming years. Annual giving supports the operating budget. Gifts and pledges made to the Annual Fund are generally for one fiscal year (January 1 to December 31) and are used to meet costs and expenses incurred during that year. With endowments, only the income is used during the fiscal year that it is generated, and it will not be used to meet the church’s routine operational expenses. The principal of the Enduring Grace Fund will never be used except in extraordinary circumstances and then only with a pay back plan.
How will my gift be invested? Gifts will be invested in accordance with United Methodist Social Principles. The Enduring Grace Committee is responsible for investments. Presently, Grace Church has an Investment Agreement with the United Methodist Stewardship Foundation of Central Pennsylvania. The Enduring Grace Committee intends to transfer gifts to the Enduring Grace endowment fund to the United Methodist Stewardship Foundation of Central Pennsylvania for investment.
Who decides how the earnings from the Enduring Grace endowment fund will be spent? First and foremost, the earnings from your gift will be used only as specifically designated by you at the time of your gift or as directed in your will or other gift document. Any member of Grace Church or an organization with the Church may submit a written request to the Enduring Grace Committee for the use of undesignated earned income. The Enduring Grace Committee shall submit requests, along with the Committee’s recommendations, to the Administrative Council for approval or disapproval.
How can I be sure that my wishes will be met in regard to the designation of my gift and the use of the earnings from my gift? Grace Church has signed an Enduring Grace agreement which legally requires your gift to be held in perpetuity with the earnings used as you designate.
I have other questions and would like to talk to someone about making a gift. Whom do I contact? If you want more information you may contact Gary Ankabrandt (243-7128), chairperson of the Enduring Grace Committee, or Rev. Bruce Fensterbush or any other member of the Committee (Committee members include Rev. Bruce Fensterbush, Gary Ankabrandt, Jeffrey Boley, Rev. Richard Felty, Todd Fogelsanger, Ann Grove, Craig Hoffman, Robert Kilmer, Randy Noaker, Sandi Price, Garry Saphore, and Darlene Smith). They will welcome the opportunity to explain the Fund in greater detail and answer your questions.