1impact Community Endowment Fund
The purpose of the Endowment Fund is to receive gifts and bequests for the further growth of our church, the mission and the ministry of the Church. As a church, we value people and the opportunities to meet their individual needs as an expression of the Gospel. These needs may show up as financial emergencies, special projects needing long-term planning and/or fund raising; or visions of a future that will require significant financial support. Having a permanent endowment fund allows us to expand our ability to love and serve others, beyond what the annual church budget can provide, while sharing the Good News of Jesus to future generations.
A CHRISTIAN APPROACH TO THE FUTURE
All of us, individually and collectively, want to believe that we can make a difference. We use our time, our talent and our money to make positive changes in our world that have both short and long-term impacts. Contributing to the 1impact Community Endowment Fund is way to have a long-term Christ-centered impact on our congregation, community and, ultimately, the world in a way that is most meaningful to individual donors.
THE GOOD MAN BRINGS GOOD THINGS OUT
OF THE GOOD STORED UP IN HIS HEART.
FOUR PRIMARY RESTRICTED FUNDS
Different people hold varying passions and priorities for helping others. To accommodate those interests, four funds have been initially established in the 1impact Community Endowment Fund including:
BENEVOLENCE – this fund provides support for members and non-members of the Church. It can be used to help the poor in the Madison area or to aid member families who have financial needs due to unexpected or unusual circumstances.
CHRISTIAN EDUCATION – this fund provides for specific Christian education needs at the preschool and post-high school levels only. Preference will be given to church members and those with financial need.
COMMUNITY PROJECT – this fund is used to fund projects that improve communities in neighborhoods near our church or where lifeGroups are making an impact. This could include youth centers, playground, after-school programs, etc.
CHURCH – this fund is dedicated to meet project needs of the Church including capital improvements, unexpected repairs, or to expand ministry.
WHAT IS THE 1IMPACT COMMUNITY ENDOWMENT FUND?
The Endowment Fund is a permanent fund established to provide financial assistance to others in our community and church body in purposeful and enriching ways. The endowment fund is primarily focused on the long-term financial future of the congregation. It receives gifts and funds of various types, invests those gifts and funds for long-term growth and distributes income from those investments to approved projects in support of the congregation and to fund missions or projects in accordance with the wishes of the donor.
The Endowment Fund is maintained separately and completely from the operating fund used to run daily and normal operations of the Church. By establishing an Endowment Fund, the Church is able to effectively manage and use gifts received beyond regular contributions given for church operations.
WHO IS RESPONSIBLE FOR MANAGING THE ENDOWMENT FUND AND MAKING DISTRIBUTIONS?
A committee comprised of at least five voting members of the Church is responsible for defining missions to support, receiving and administering gifts to the fund, making distribution recommendations, and overall administration of the fund. The Chairperson of the Church Leadership Board, or other Leadership Board Member as delegated, and the Senior Pastor or other delegated staff person, are ex-officio members of the Committee. The Leadership Board of the Church is responsible for approving recommended distributions from the Endowment Fund Committee.
The Endowment Fund is designed to preserve the principal and a portion of the earnings, and use the remainder of the earnings to fulfill our mission. Because only a portion of the annual earnings is used each year, the Fund continues to grow, buffering it against inflation and providing a permanent source of support to our mission.
Requests for distribution of funds may be submitted by congregational members, congregational committees or boards, or by individuals or groups outside the congregation seeking resources. All requests will be reviewed for consistency with the mission and purpose of the Endowment Fund.
CAN I DESIGNATE MY GIFT FOR A SPECIFIC PURPOSE?
A donor can designate their gift as follows:
UNRESTRICTED GIFTS – Gifts designated as unrestricted will be added to the principal of the fund and will be used for any of the "Four Primary Restricted Funds" for which the Endowment Fund was established.
RESTRICTED GIFTS –This allows the donor to more tightly restrict use by designating their contribution to one or more of the "Four Primary Restricted Funds".
DONOR RESTRICTED GIFTS – Donors contributing $25,000 or more may restrict gifts to missions not included in one of the "Four Primary Restricted Funds" as long as the gift is accepted by the Committee, the request is consistent with the purpose of the Endowment Fund, and the request can be reasonably executed.
Gifts to the Endowment Fund can be accepted during an individual's life, following their death through a bequest or gift in a will, trust or through a beneficiary designation of some or all of the proceeds of a life insurance policy, annuity, or retirement plan. Gifts of cash or publicly traded securities will almost always be acceptable. Gifts of privately-held businesses, partial interests in property, gifts encumbered by debt, or gifts that may not be marketable within a reasonable timeframe may not be acceptable. In addition, certain types of property may cause adverse federal or state income tax problems for the Endowment Fund and may not be acceptable.
Some property may cause unexpected tax or other consequences to the donor. Donors are advised to consult with their own tax attorney, tax advisor and other professional advisors about the consequences of a gift in their circumstances. The Endowment Fund will abide by the requirements of the Internal Revenue Code and its regulations.
INTERESTED IN MORE INFORMATION OR IN MAKING A GIFT?
For additional information on the Endowment Fund please contact the Church office at 608-271-2811 x0. In the event you are ready to make a gift or include this Fund in your estate plan, please contact us and we will provide you with the information you need to get it done right.
THERE IS SURELY A FUTURE HOPE FOR YOU
AND YOUR HOPE WILL NOT BE CUT OFF