Permanent Endowment Fund
The Permanent Endowment Fund receives contributions and such proceeds are held in trust, invested, and become part of the Permanent Endowment Fund. Investment income and earnings from the endowment are directed to support missions, children and youth ministries, discipleship, special and extraordinary projects, and music ministries. No part of the principal is to be used but is to be held for the benefit of future generations. The Permanent Endowment Fund makes possible special ministry opportunities beyond the scope of the normal ministry budget.
Bequests
A bequest is a transfer of an asset from a Riverchase United Methodist Church member or supporter to a Riverchase UMC mission or program that the donor wants to support either before or after death.
A bequest can be accomplished in any of the following ways:
- Specific amount of cash, investments, or property.
- Stated percentage of a specific asset.
- Residual amount left after other loved ones are provided for.
Ways to Participate
Remember the church in your will – A person can designate a specific cash amount or a percentage of one’s estate to be given to the Permanent Endowment Fund. This becomes a lasting legacy, a true testimony of one’s faith.
Make small (or large) periodic contributions to the PEF – These can be in memory or honor of someone or just contributions as a lasting benefit to the church.
Stock gifts – Specific stock(s) in a person’s portfolio can be given or left to the church.
Real estate – Gifts of real estate or personal property can be given or left to the church.
Investment vehicles – The United Methodist Foundation of North Alabam offers a number of charitable gift investment vehicles such as annuity trusts and unitrusts which allow a donor to receive a lifetime income and charitable gift tax deduction, all the while knowing they have remembered the church in a special way.
Life estate – Donors can create a life estate that allows the donor to live in his or her home guaranteed for life, with the home left to the church upon death. The donor receives a generous tax deduction when the Life Estate is created.
Charitable Gift Annuity – A donor can receive up to 9% on a Gift Annuity. This is a great return when compared to a certificate of deposit! A donor receives a great income stream that is fixed for life – income will never go up or down. In addition to great income, the donor also receives a generous tax deduction. At the end of the donor’s life, the remainder is transferred to the PEF.
Make the church an IRA beneficiary – Through the RUMC Foundation, a person may name the church as beneficiary of an IRA. Individuals named as IRA beneficiaries often lose 50% of the proceeds to taxes. Naming the church as a beneficiary eliminates the taxes and the full amount goes to the church.
Payable on death (POD) – A person can designate a certificate of deposit to be “POD” to the church. At the end of the donor’s life, the bank transfers the funds to the church.
IF YOU HAVE QUESTIONS ABOUT LEGACY GIVING, PLEASE CONTACT ROBERT ALTMAN.