The Endowment Fund of St. David’s Episcopal Church
Roswell, Georgia

“Celebrating our history, enriching our present, and securing our future.”

Introduction

With a gift to the Endowment Fund, individuals who love St. David’s can leave an enduring legacy; a gift that supports parish ministries in perpetuity. Gifts to the Endowment Fund are invested and never spent. Gifts may be made in life, by bequest, or on a deferred basis 

As return on investment accumulates from interest, dividends, and appreciation, grants may be approved for the distribution of funds to meet extraordinary capital needs of the parish and to underwrite special ministries and projects. Such grants will provide enhancements that will be important to our parish’s ongoing vitality and ministry; enhancements that are beyond the reach of annual operating revenues.

Background

In September, 2005, the vestry approved a resolution establishing the Endowment Board and its plan of operation. This vestry action was consistent with the direction of the Strategic Plan. Next, the vestry appointed five parishioners to serve as Endowment Board members, along with the rector and the senior warden, who serve as ex-officio members. In February, 2006 the Board held its first meeting. By August, 2006, the Board had drafted, approved and communicated to the vestry five resolutions, which establish policies regarding disposition of gifts, designated funds, investment guidelines, spending, and gift acceptance.

Looking Ahead

Following the successful completion of the Capital Campaign, the Endowment Fund Board will begin a series of communications to the parish in early 2008, designed to increase awareness of the Fund and the opportunities that it provides to make meaningful and lasting gifts to St. David’s. There will be information in The Illumination, messages to parishioners from lay leadership and clerics, educational brochures, and so on.

A series of group discussions for parishioners, families, and friends will also be offered. They will explore planned giving in the context of overall financial and estate planning, wills, trusts, taxes, insurance, and related topics. They will be repeated on an ongoing basis, to ensure that the best current thinking on planned giving is presented. 

And remember, planned giving is not just reserved for the elderly or the wealthy. Everyone should have a will.

An Introduction to Planned Giving 

WILLS - You can provide for a future gift to the Endowment Fund by a bequest in your will. Options to benefit St. David’s can be done by specifying: 
· A specific dollar amount;
· A specific amount of property;
· A percentage of the estate; or
· The remainder of the estate after all other gifts have been fulfilled

LIFE INSURANCE – Giving through an existing life insurance policy is an excellent way to make a charitable gift with little to no cost to the donor. The Endowment Fund will accept gifts of life insurance when St. David’s is named owner and beneficiary of an existing policy or St. David’s is named beneficiary of all or a portion of the death benefit proceeds. In order to designate St. David’s as beneficiary of an existing life insurance policy, simply contact your life insurance company to obtain a Change of Beneficiary form.

RETIREMENT PLANS - Gifts through a company retirement plan or other established plan, such as an IRA, are a convenient and low cost way of making a significant gift to the Endowment Fund. Gifts of retirement plans can be made in two ways: 
1. Any retirement income not needed to provide for day-to-day living expenses can be donated to St. David’s, which allows the donor to see the benefit of their gift during their lifetime. 
2. St. David’s can be designated beneficiary of any excess retirement plan assets at death. Simply contact your plan administrator for a Change of Beneficiary form. 
Excess retirement funds held in plans are subject to both income and estate taxes. Naming the Endowment Fund as the charitable beneficiary of a retirement plan can reduce or eliminate estate and income taxes for your heirs. 

CHARITABLE REMAINDER TRUSTS - Charitable remainder trusts are another vehicle used by donors who are interested in converting low-yielding assets into a source of additional retirement income without incurring capital gains taxes. In addition, an immediate charitable income tax deduction is available in the year of the gift. There are two types of charitable remainder trusts – a charitable remainder annuity trust which provides the donor(s) with a fixed dollar payout and a charitable remainder unitrust which provides the donor(s) with a fixed percentage payout.

For more information, please contact the Chair of the Endowment Board, Ron Shaw, at r2274@aol.com, or the church office.

Signed copies of the Endowment Board’s founding documents are available from the church office.