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TRANSCRIPT
CHARITABLE FINANCIAL
SERVICESFacilitating Generosity To Advance God’s Kingdom
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ABOUT US 3
LEADERSHIP 4
SERVICES for INDIVIDUALS 6
Advise & Consult Fund ®
Increase Fund
Charitable Remainder Trust
Charitable Lead Trust
Estate Design
Bequest Processing
SERVICES for CHURCHES 12
Designated Funds
Gift Processing
SERVICES for ADVISORS 14
Advisor Relationships
FAQ’S 16
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ABOUT US
The mission of the PCA Foundation is to provide charitable financial services to Christians, enabling them to carry out their stewardship responsibilities and charitable desires to financially support the Kingdom of Jesus Christ through the Presbyterian Church in America and other Christian ministries.
The PCAF’s “niche” is working on the donor’s agenda for charitable giving. Our premier service is the Advise & Consult Fund®, a donor-advised fund. We also serve as trustee of charitable trusts and administer designated funds for churches, as well as receive and distribute charitable bequests.
The PCA Foundation’s operating support comes primarily from earnings on accounts, trustee/administrative fees, and some contributions. Unlike many other foundations, the PCA Foundation is donor-driven—that is, the distributions made are designated or recommended by the donors themselves. Please contact us with any questions you may have. We look forward to serving you and helping you facilitate generosity to advance God’s Kingdom.
Tim TownsendPRESIDENT
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LEADERSHIP
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Tim was elected to serve as the President of the PCA Foundation in
2019. Born in Michigan, he graduated from Bob Jones University in
1987 with a degree in accounting and earned a J.D. degree from the
University of Michigan School of Law in 1990. After serving as a law
clerk for the late Wendell A. Miles of the United States District Court
for the Western District of Michigan for a year following graduation,
he served with the law firm of Wendell Bird in Atlanta, representing primarily tax-exempt organizations.
He later served as a founding principal of Myers, Townsend and McKee. Prior to joining the Foundation,
Tim served for thirteen years on the executive team of the National Christian Foundation where he helped
protect their tax-exempt status while providing counsel regarding
complex gifts.
Mark joined the PCA Foundation in September
2001 as the PCAF’s Staff Accountant, and
became its Business Manager in 2008. He can
answer questions about your existing account or
assist you with establishing a new account with
the PCAF. He can provide gifting instructions for
transfers of appreciated assets (stocks, bonds,
mutual funds, etc.), assist with making online
ACH or credit card contributions, explain how to
recommend grant distributions from your account,
assist with registering for a PCAF Donor Portal
account, and answer any other questions you may
have. Mark can also assist you, even if you do not
have an account with the PCAF, with facilitating
a gift to your church or other favorite
Christian ministry.
Lou Anne joined the PCA Foundation staff in April
2012. She has extensive experience with not-for-
profit accounting and can answer questions about
your account statement, check on the status of
recommended grant distributions processed from
your account, assist you with obtaining a duplicate
copy of your gift receipt, and answer questions
about your CRT’s annual Schedule K-1 form.
Tim TownsendPRESIDENT
678-825-1062
Quincy M. BaileyBUSINESS MANAGER
678-825-1054
Lou Anne Ross-PurnellACCOUNTING MANAGER
678-825-1060
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SERVICES for
INDIVIDUALS
Advise & Consult Fund®Zero Fees with 100% Impact
The Advise & Consult Fund is a donor-advised fund with no fees. Donate cash and other assets (stocks, bonds, mutual funds, and real estate) to your fund. Receive a tax deduction for the current tax year and recommend grants at your pace to your church and favorite Christian ministries. Start your fund with an initial gift of $1,000 or more.
Donors to the PCA Foundation have access to the Donor Portal via our website.The Donor Portal enables donors to login and interact with their account in the following ways:
• View fund balance and historical activity• Submit new grant recommendations• View the status of grant recommendations and search previous grants• Update personal information
REDUCE YOUR TAXESWhen you give appreciated assets (stocks, bonds, mutual funds, real estate) to your fund, you may use the fair market value of your gift for an immediate income tax deduction, and also avoid capital gains taxes. Your tax burden is minimized, and your giving is maximized.
SIMPLIFY YOUR GIVINGAs the donor, you remain actively involved by recommending distributions. You can name others, such as your children, to recommend distributions as well. One gift to your fund can be distributed to multiple ministries in various amounts over the course of time. When it comes to grants, you recommend where to send the money, when to send it, and how much to send—even anonymously, if desired. You’ll receive regular reports of your account activity and can interact with your account online.
ADVANCE GOD’S KINGDOM100% of your account balance is available for ministry impact. Use your fund to support your local church and favorite Christian ministries to advance God’s Kingdom.
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Increase Fund
The Increase Fund is also a donor-advised fund. It is designed for donors who want their funds to be actively invested in the market. Like any donor-advised fund, the donor recommends grants at their pace and can even identify a specific ministry purpose when opening the account. Unlike the Advise & Consult Fund®, these funds are subject to fees.
As the donor, you remain actively involved by recommending distributions. You can name others, such as your children, to recommend distributions as well. You or your family can make either a one-time gift or multiple gifts over time to fund your Increase Fund. Donations may be in the form of cash or appreciated assets (stocks, bonds, mutual funds, or real estate).
INCREASE FUND (TRADITIONAL)The Increase Fund generally distributes either income or principal and income to Christian ministries you pre-identify when you open the fund. Grants are made to the pre-identified ministries over time while the funds are invested for potential market growth.
LESS HASSLE, MORE IMPACTThe Foundation will handle administration, work with you to establish an investment strategy, and provide regular reports. These funds are subject to investment and administrative fees.
Complete the application and
submit it.
Contribute funds to your account.
Recommend grants at your
own pace.
Starting your donor-advised fund is easy.
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Charitable Remainder TrustsBenefit from Giving
A Charitable Remainder Trust (CRT) enables you to make a gift, enjoy certain tax advantages, and receive income payments from the trust. The CRT, established with a minimum amount of $25,000, is an irrevocable trust that provides payments to one or more individuals. Payments to the individuals can be received for up to twenty years or over the course of their lives. At the end of the trust period, a distribution is made to one or more Christian ministries.
Donors can establish a CRT with the PCAF serving as trustee. The CRT is subject to fees. There are different types of Charitable Remainder Trusts and options regarding payouts.
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Comparison of CLT Features
Donor receives income tax deduction
Estate and gift tax deduction
Trust income taxable to donor
Remainder interest passes to:
Non-GrantorLead Trust
No
Yes
No
Heirs
Grantor Lead Trust
Yes
No
Yes
Donor
Charitable Lead TrustsGenerosity with Personal Benefit
A Charitable Lead Trust (CLT) is an irrevocable trust designed to provide income payments to charitable organizations for a fixed term. To start a CLT, the donor transfers assets to the trustee. The PCAF can serve as trustee. The trustee invests and manages the assets, making annual payments to a designated charitable beneficiary. Depending on the type of CLT, the donor can receive gift, estate and income tax savings.
At the end of the trust, assets are distributed one of two ways:1) To the donor (Grantor Lead Trust).2) To a named beneficiary or beneficiaries (Non-Grantor Lead Trust).
These CLTs can be structured to commence during the donor’s lifetime or upon death. The minimum amount required to establish a CLT with the PCA Foundation is $50,000. The CLT is subject to fees.
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Estate DesignThoughtful, Strategic Stewardship
The Estate Design process helps you find God’s plan of stewardship for your legacy. This process will culminate by providing you with options about how to structure your estate to provide for both your loved ones and favorite Christian ministries. The Estate Design becomes the charitable framework for you to establish an estate plan with your attorney. Developing this framework is free of charge.
Bequest ProcessingTake Confidence in Your Legacy
Have confidence that your money will make a Kingdom impact after you pass away. A bequest is an easy way to ensure that your assets will be distributed according to your desires. By naming the PCAF as the charitable beneficiary in your will, living trust, charitable trust, IRA, 401K, or 403b plan, you decide which Christian ministries ultimately receive your funds and how much.
Bequest Processing with the PCAF gives you the flexibility of easily changing or amending with the PCAF your ultimate charitable beneficiaries as frequently as you wish, without having to change your legal documents.
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SERVICES for
CHURCHES
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Designated FundsMany Donors, One Goal
The PCA Foundation can help your church, presbytery, or Christian ministry establish a Designated Fund. Using a Designated Fund, the PCAF can invest your ministry funds and enable your donors to give directly to your ministry. Your donors can give cash, or a variety of assets (stocks, bonds, mutual funds, real estate) and give anonymously if they desire. The Designated Fund can even receive funds bequeathed from wills and estates.
The PCAF will invest and manage the Designated Fund for a fee. Your ministry controls disbursements from the fund according to the parameters established in the fund agreement. We will work with you to establish an investment strategy that fits your goals and timeline.
A Designated Fund can help you achieve your ministry goals while lowering your administrative burden. Whether your goal is short term or long term, the PCAF’s Designated Fund is an effective way to enhance your church’s stewardship services.
Gift Processing
The PCAF can process gifts from donors to support your church. When you direct donors to the PCAF, we can process their gifts of appreciated assets and send a check for your ministry. From marketable securities (stocks, mutual funds, bonds) to real estate, we handle the gifting process from start to finish.
MARKETABLE SECURITIES
We have a gift clearing account with most of the major brokerage firms, making the gifting process of marketable securities seamless. The typical steps involved are as follows:
• The donor contacts the PCAF and identifies each Christian ministry they wish to support.
• The donor initiates a transfer of securities to the PCAF.• The PCAF liquidates the securities and provides the donor with a receipt.• The PCAF mails a check to the recipient ministries and a report to the donor.
There are no donor fees. However, we request a small gift ($100–$300) to the PCAF to offset our costs. Use the PCA Foundation and make it easier for your donors to give appreciated assets.
REAL ESTATE
Gifts of real estate must meet certain requirements, which can be discussed when you contact us.
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SERVICES for
ADVISORS
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Advisor RelationshipsWorking Together for Clients
We believe relationships are important, including the one between a financial advisor and their client. We can help your clients accomplish their charitable intentions while enabling you to maintain a relationship with them. We partner and work with financial advisors to facilitate current charitable giving as well as long-term planned giving.
Do you have Christian clients who have particular needs in the areas of establishing a donor-advised fund, endowments, charitable trusts, estate planning, planned giving, or year-end charitable giving? The PCAF would like to work with you to facilitate the charitable giving process.
We have the flexibility to open accounts with you, the advisor, at the recommendation of the donor depending on the type of charitable financial service involved. We can open a brokerage account in the PCAF’s name with your firm to custody and invest the assets. Therefore, even in charitable giving facilitated by the PCA Foundation, you will continue your relationship with your client.
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Can the PCA Foundation only make distributions (gifts from particular funds, established with the Foundation) within the PCA?
No. In fact, over time, approximately one third of the distributions from the PCA Foundation have gone to non-PCA churches and ministries. The remaining two thirds went to PCA churches to PCA committees and agencies.
What are your requirements for making distributions from the PCA Foundation?
The PCA Foundation can only make distributions to 501(c)3 Christian organizations. Before we will make a distribution to any organization, we require a copy of their 501(c)3 letter from the IRS and their Statement of Faith. We will do all the work in obtaining this information. The chances are that we already have
the required paperwork for your favorite ministry.
Can my ministry apply for a grant from the PCA Foundation?
No. The PCA Foundation is what is referred to as a “donor-driven” foundation. That means the grants that we make are typically at the request or recommendation of particular donors, according to the specific fund agreements. We do not generally accept proposals for grants.
Can I gift land or real estate to the Foundation?
Yes. Gifts of real estate may be accepted by the Foundation, upon satisfaction of certain conditions. Please call us at 800-700-3221 to discuss the gift of land or real estate that you are considering.
FAQS
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Do you have any materials about the Foundation or about particular services that you offer that I could make available to others in my church?
Yes, please contact us. We would be happy to provide you with the materials that you need or authorize other arrangements.
How can I gift stock certificates?
The PCA Foundation can accept gifts of stock in certificate form. For instructions on how to gift stock in certificate form, please visit the Make a Gift page.
How can I gift stock held in my brokerage account?
Please notify the Foundation of:• the name of the securities to be
transferred and• the number of shares• The next step is for you or your broker
to contact Mark Bailey, the PCA Foundation’s Business Manager, at 800-700-3221 to obtain delivery instructions.
Please contact the PCA Foundation prior to making any transfers to ensure proper credit of your stock gift.
You can also review our Make a Gift page for more gifting details.
How can I gift mutual funds?
The PCA Foundation will gladly accept gifts of mutual funds. The Foundation has gift clearing accounts open at a number of different brokerage or mutual fund firms. If we do not have an account open at the firm where your mutual funds are held, we are happy to open one in order to be able to accept your gift.
If you wish to gift mutual funds, please contact Mark Bailey, the PCA Foundation’s
Business Manager, for further information and instructions. You can also review our Make a Gift page for more gifting details.
Is my gift to the Foundation tax deductible?
Yes. The PCA Foundation is exempt from federal income tax under section 501(a) of the Internal Revenue Code as an organization described in section 501(c)(3). It has also been determined that it is not a private foundation within the meaning of section 509(a) of the Code, because it is an organization described in sections 509(a)(1)(A)(vi).
What is the PCA?
“PCA” stands for Presbyterian Church in America. It is a denomination which subscribes to the Westminster Confession of Faith as its statement of faith, and is committed to the Gospel of Jesus Christ as taught in the Bible, which is the inerrant Word of God.
How can I recommend distributions from my Advise & Consult Fund or Increase Fund?
You can find the instructions and form for recommending grant distributions. If you wish to recommend a distribution from your fund, please provide the following information:
• Name, address, and phone number of the organization to whom you wish to make a distribution. (If you have given to them previously, then simply the name is sufficient.)
• Amount of the distribution.• Desired use or purpose of the gift.• Whether or not you wish the distribution
to be made anonymously.• Distributions may be one time, or set
up to occur automatically on a monthly, quarterly, or annual basis if you wish.
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MAILING ADDRESSPCA Foundation, Inc.
1700 North Brown Road, Suite 103Lawrenceville, GA 30043
CONTACT INFORMATIONToll Free: (800) 700-3221
Local: (678) 825-1040Fax: (678) [email protected]
pcafoundation.com