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Endowment FAQs

What is the Endowment Fund?

The Buncombe Street Methodist Church Endowment Fund is a permanent fund established so that the values and legacy of Christian faith shared by our members can live on and further God’s work through our church for generations to come. Gifts to the Endowment Fund become a part of a perpetual fund with earnings used to advance BSMC’s ministries and mission activities.

The Fund is built entirely upon the vision and generosity of BSMC members and is totally separate from the church’s annual operating budget and building funds. Available funds are distributed to support projects above and beyond normal budgeted items.

Who Manages the Fund?

The Fund is managed by a Board of Directors elected by the Charge Conference. The board administers the Endowment to ensure the preservation and growth of funds and manages gifts made through such avenues as wills, insurance, real estate or outright donations. The principal from these gifts is invested and distributions are used to strengthen and expand the ministries of the church.

How are the Funds Invested?

Funds are invested with Wespath Benefits and Investments under the prudent guidance of the Endowment Fund’s Board of Directors.

How Large Does My Gift Have to Be?

Gifts of all sizes are important to the growth of the Endowment Fund. Every gift increases the earning power of the Fund while remaining specific to its designated purpose. Thus, each gift is significant to the cumulative impact of the Fund.

What Makes a Gift to the Endowment Different from Other Forms of Giving?

The BSMC Endowment Fund is a permanent fund. Your gift will continue to make a difference in the lives of those who will follow after us. Earnings used to enhance BSUMC’s ministries apart from the general operations of the church.

How is the Endowment Fund different from the Sisk Fund?

The Sisk Fund is totally separate from the Endowment Fund. All gifts to the Sisk Fund are used to help those in need outside of our church and throughout the community. Earnings from the Endowment Fund can be utilized for programs and needs within our church that fall outside the annual budget including our building and grounds, family activities, children’s ministries, youth programs, scholarships, church enrichment programs, and missions.

Are My Gifts Tax Deductible?

Yes, gifts to the BSMC Endowment Fund are deductible for income tax purposes. Bequests, legacies and all gifts of value are generally exempt from estate and gift taxes. You may wish to consult with your tax professional before making a commitment.

How Can I Give to the Endowment Fund?

All gifts are welcome and each is important! Examples of gifts that can ensure the perpetuity and expansion of BSMC and its ministries are:

• Cash
• Wills (Bequests)
• Stocks/Bonds
• Trusts
• Memorial Gifts
• Life Insurance
• Real Estate/Property

Would I Have to Rewrite My Will?

Many gifts can be made to the Endowment in a manner that does not involve changing your will. You may wish to amend your will through a simple codicil, a legal document that changes provisions to your will.

codicil template sample codicil

How are Endowment Funds Used?

The Endowment Fund was created to ensure sound financial support for the future of our church.

Learn about the impact the BSMC Endowment Fund is making.

Impact

The Fund can be used for any of the following:

• Unrestricted
• Building and Grounds
• Family Activities
• Children’s Ministries
• Youth Programs
• Scholarships
• Church Enrichment Programs
• Missions

Will My Gift Remain Confidential?

All gifts or donations to the Endowment Fund are treated with strict confidentiality. If you are considering a memorial or honorary gift, the family or individual will be notified of the gift if you so desire. The Endowment Board may recognize contributors to the Fund through church publications or at events. However, if you wish to remain anonymous, your wishes will be honored.

What if I’ve already included Buncombe Street in my estate plans?

THANK YOU! If Buncombe Street is already in your plans, we’d love to know. Having accurate records helps the church know how to administer your gift; and, we would like to thank you in person. Your gift will remain completely confidential and, if you prefer, can be anonymous. If you’re willing to let us know about your plans, please return the Endowment Commitment Form Thank you.

How Can I Get More Information About the BSMC Endowment Fund?

We will be happy to answer your questions and refer you to the appropriate contact or resources for further information. Contact Karen Gambrell.

The Endowment Board also sponsors periodic educational seminars on estate planning and planned giving. Please check the church website for scheduled events.

The Fund provides a means for BSMC members to express special thanks to God for the many blessings and gifts you have received, and it enables you to return a portion of assets accumulated during your life’s work.

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