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What is the purpose of the Living Legacy Fund?

It is the "Endowment Fund" established for the purpose of providing members and friends the opportunity to make charitable gifts to St. Barnabas United Methodist Church that will become a permanent endowment of financial support and a living memorial. The earnings of the Endowment Fund will be used for the special needs of the Church for facility maintenance and improvements, property acquisition, and special purchases, programs or ministries that will improve the Church and its mission.

What makes this gift different from other forms of church giving?

Our Living Legacy is a permanent fund and only its earnings will be spent. When funds are available and distributed, they will support projects above and beyond normal budgeted items.

Are permanent endowment fund gifts tax deductible?

Yes. Your gifts to the St. Barnabas United Methodist Church Living Legacy Fund are deductible for Federal Income Tax purposes. Bequests, life income gifts and other donations of value are generally exempt from Federal Estate and Gift taxes.

Who administers the fund?

The Permanent Endowment Fund Committee makes recommendations on how the funds earnings will be distributed and used. In some cases, special gifts are made and designated for a specific need by the donor, such as capital improvement of the church building or mission outreach.

What kinds of gifts can be made to our endowment fund?

There are many types of gifts that could benefit our permanent endowment fund. A few of them are
• Cash
• Real estate
• Personal property
• Stocks and bonds
• Life insurance
• Planned Gifts

Is my gift too small?

Because all gifts are pooled in the fund, they have a cumulative effect making even the smallest gift significant. Every gift contributes to the overall growth of the principal amount, which compounds the return on investments.

What is a planned gift?

A planned gift to the church is a financial gift structured to serve the needs of the church as well as the giver, such as:
• Charitable gift annuities, which provide payments for life, tax benefits and ultimately benefit our permanent endowment fund.
• Gifts through wills, also known as bequests.
• Charitable remainder and charitable lead trusts to support our permanent endowment fund.

Can I designate a special type of gift?

Specially designated gifts are a great way to show others how much you care about them and your congregation. These include
• Memorial gifts in remembrance of a family member or a church member.
• Tribute gifts recognizing special occasions such as anniversaries, achievements, retirements and promotions.