congregational planned giving program. introduction $25-45 trillion in wealth will transfer between...
TRANSCRIPT
Congregational Planned Giving Program
Introduction
$25-45 trillion in wealth will transfer between now and 2052
Only 30% of Americans have developed an orderly plan for the transfer of their estates
Of this 30%, only one in three have remembered a charity in their estate plans
People of faith want to remember the Lord’s work in their estate plans, but need to know the options available to them
Introduction
The purpose of a congregational planned giving program is to . . .Educate,Encourage,Enlist, andExcite . . . members about using planned
giving instruments to support WELS ministries.
Introduction
Manual focuses primarily on setting up an endowment fund
Also gives an overview of other ways members can make planned gifts
Coordination of these efforts at your church would be done through a Congregational Planned Giving Committee
WELS provides assistance
Scriptural Truths for Joyful Generosity1. God owns it all. Psalm 24:12. By grace God supplies all our needs. Philippians 2:133. By grace God entrusts to us the task of management.
Philippians 2:134. God desires our thankful response. Colossians 3:175. God determines that our offerings are an important way
to express our thankfulness to him. 2 Corinthians 9:7
Table of Contents
I. About Congregational Endowment Funds
II. Setting Up a Congregational Planned Giving Committee
III. Promoting Planned Giving in Your Church
IV. WELS Organizations that Can Help You
About Congregational Endowment FundsDefinitionsPurposeWhy an Endowment?How an Endowment Fund WorksGetting Started
Definitions
Endowment fund: dedicated fund of which only the growth can be used
Trust fund: same as endowment except that principal can be used at discretion of voters
Income: dividend or interest earned on an investment
Growth: capital appreciation or capital gain of an investment
Principle or Capital: The main body of a fund as distinguished from interest or profit
Purpose
Provides a permanent source of income to be used for a specific purpose.
Common uses:Educational scholarshipsMissions and outreach supportSupporting the ongoing ministry
of the congregationCongregation in India
Why an Endowment?
Provides a framework for receiving gifts through bequests, memorials, and donations of assets
Reminder for members that wills and estate plans are part of Christian stewardship
Opportunity for members to make gifts without negatively impacting regular giving of the congregation
Why an Endowment?
Allows members to designate gifts to areas of special interest
Additional funding for current operations as well as future, expanded efforts
Allows establishment of new programs Creates a source of future income for the
congregation, assuring continued ministry
How an Endowment Fund Works Principal is invested and preserved Part of income is spent on current needs An endowment fund can have sub-funds
to support multiple needs
Community Outreach
Children’s Special Needs
Family Assistance
Retirement
Setting Up A Congregational Planned Giving Committee
Flow Chart
Building the Committee
Special Issues
Setting a Clear Purpose
Commitment to the Program
Consistent Communication
Asking for Gifts
Gift Administration Policies
Distribution of Grants
Flow Chart
Interested committee studies concept
Study Group meets with a Christian giving counselor
Study Group makes recommendations to Church Council
Church Council brings resolution to voters
Voters accept Voters/Church Council
appoints Congregational Planned Giving Committee
Committee organized and begins to educate, encourage, enlist, and excite
Building the Committee
Committed to purpose Willing to work Communication skills Leadership skills Attention to detail Connections to
members
Opinion leader Women and men Many age groups Geographic areas Interest areas Income groups Other
First qualification is strong Christian faith Decide what you are looking for
Special Issues
Should the Church Council also be the Planned Giving Committee?
Be careful about conflicts of interest. Members/Terms
Size: three to five people Term length: four years Rotation: limit of two terms, terms should be
staggered A sample fund endowment fund bylaws is
provided
Setting a Clear Purpose
Section I discussed possible purposes of an endowment fund
Congregation must retain ability to change the purposes of the fund
Exhibit A shows some sample sub-funds that can be set up with different purposes
Consistent Communication
First element: a clear, compelling identity Second element: communication
resources (promotional articles available online at Ministry of Christian Giving page on Connect)
Third element: a plan for using these resources over and over again
Sample one-year strategy available in manual
Asking for Gifts
Identify prospective donors
Prepare yourself
Call to set up appointments
Visit prospects Ask Follow up with
materials and another visit
Gift Administration Policies
Most important aspects of gift administration:1. Treat every donor with gratitude and respect2. Agree on gift acceptance policies and apply
standards consistently3. Invest with WELS Investment Funds4. Adopt appropriate policy on conflicts of
interest Exhibit B in manual provides sample gift
acceptance policy.
Distribution of Grants
Sample Distribution Policy (Section 7 of Bylaws):
Annually distribute 4% of the three-year (or since inception) rolling average market value of the fund as of June 30
Limitations in place to insure the preservation of the historic dollar value of the fund
Promoting Planned Giving in Your Church
Different Ways to Make Planned GiftsEstate Planning for Christian Stewards
Reference Materials in Manual:
Committee can also provide members with basics on making planned gifts using . . .
Different Ways to Make Planned Gifts provides overview of different gifting vehicles
Estate Planning for Christian Stewards is a practical guide for developing a Christian estate plan
IV. WELS Organizations that Can Help YouWELS Ministry of Christian GivingWELS FoundationWELS Investment Funds
WELS Ministry of Christian GivingA Christian giving counselor can help
regarding the establishment of a Congregational Planned Giving Committee and an endowment fund.
WELS Foundation
Can assist the congregation in accepting complex gifts and gifts of unusual assets
Offers gift plans that allow the donor to remain anonymous and which can benefit a variety of WELS organizations, including the congregation
Manages the various gifting vehicles
WELS Investment Funds
WELS Investment Funds can serve as the organization which invests the funds received. Working from a large base of assets and expertise, such an organization can invest more effectively for the very long-term.
For more information . . .
Contact WELS Ministry of Christian GivingPhone: 800-827-5482 or 414-256-3209 Web: www.wels.net/christian-giving
Thank you for considering a planned giving program for your church. May God use this as another means for sharing his Word with all people!