Planned Giving at the First Congregational Church of Holliston
1 Chronicles 29:12-14
Wealth and honor come from you; you are the ruler of all things.
In your hands are strength and power to exalt and give strength to all.
Now, our God, we give you thanks, and praise your glorious name.
But who am I, and who are my people, that we should be able to give as generously as this? Everything comes from you, and we have given you only what comes from your hand.
What is Endowment?
Endowment is money and other assets put into trust to be used for the ongoing maintenance of the church’s ministry, operations, missions and physical structure. Endowment, together with the annual stewardship appeal and capital campaigns, form the three main sources of church financing. Endowment is different from stewardship and capital campaigns in that a portion of the funds are distributed each year giving endowment a long-time horizon that benefits not only the current congregations but future generations as well.
What Funds Make Up Endowment?
The church’s endowment dates to 1829 when the Eames Ministerial Fund was established for the “maintenance of a minister”. The endowment has grown to include many funds. The largest group of funds is general endowment funds to be used as the church may request. The second largest group is for major repair. Other groups include charitable/mission funds and education funds. A complete listing of the funds is published annually and is available at the church office.
How has Endowment Benefited the Church Recently?
Over the last 5 years, based on the adoption of the 2006 Endowment Policy designating a 4% annual disbursement of the 3-year average balances of the General Endowment Funds portion of Endowment, over $57,904 has been disbursed to the Church’s General Operating Account.
In addition, over this same period disbursements from other Specific Endowment Funds have totaled $89,349. This included funds from the 2 Major Repair Funds for a new Boiler ($19,894), Barn repairs ($11,503) and a new Ed-Wing Roof ($29,450). Also included in this amount were funds disbursed from the “Allocated General Endowment” (a combination of Deacon, Charitable, Missions and Music Funds) for a total of $28,502.
Disbursements from Endowment over this 5-year period have totaled over $147,253.
How Are the Funds Managed?
The Endowment money is currently managed by a large investment company. About 70% of the managed money is invested in stock funds and 30% is invested in bond funds. The allocation is intended to let us benefit from an upswing in stock values while being protected from a downswing.
An Investment Policy Statement (IPS) acts as the central point of reference between the Committee and the Investment Manager. You can access the Endowment IPS.
Why Give to Endowment?
As Christians we are taught that all that we have comes from God as a blessing. We are commanded to share our blessings and give generously. Giving to Endowment allows us to give back to God a little of what God has given us and helps insure the continued ministry and missions of our church.
An endowed gift is a permanent, self-sustaining source of funding. Endowment assets are invested. The income from endowments enables our church to reach far beyond what they would be able to do through the yearly pledges of their members and the annual budget. In this way, an endowed fund can grow and provide support for its designated purpose in perpetuity as a permanent tribute to the donor and extend the donor’s values for future generations. When you give to our endowment fund, you create a permanent legacy of support for The First Congregational Church of Holliston.
How to Give to Endowment
There are two primary methods to support Endowment:
- If you would like to see your gift in action now, you can make a gift to the Endowment Fund now.
- The other way to create a legacy is through “The 1728 Society.” This allows you designate how you will support Endowment once you have passed away.
Below we have described these approaches for giving to Endowment. We encourage you to please talk to an Endowment Trustee, your Financial Advisor, CPA, or Attorney about the option that is best for you.
Give a gift now – Gifts are money, appreciated securities (stocks, bonds, etc.), other financial instruments, or other acceptable assets given during the lifetime of the donor. See the “Give a Gift to Endowment” section below for more information.
Also, recent legislative changes allow charitable organization to receive distributions from IRA’s. Please consult with your tax or financial advisors for guidance on this type of giving.
Bequest – Bequests are made through the will or trust of a deceased donor. Would you consider looking at your will or insurance policy, and allocating an amount to Endowment? This is a wonderful way to give. See “The 1728 Society” section below for more information. You may make a provision for the First Congregational Church of Holliston Endowment when you have your will or living trust drafted, or a bequest may be added by amending your existing will or trust. There is no minimum amount for a bequest, and gifts can be made with cash, securities, retirement plan assets, or real estate and tangible personal property (subject to acceptance by Endowment). Please make sure that your bequest lists the beneficiary as the “First Congregational Church of Holliston Endowment.” We would be pleased to provide you with sample bequest language for inclusion in your will or trust.
Give a Gift to Endowment
First Congregational Church of Holliston’s Endowment is a 501 (c) (3) charitable organization and is a separate entity from the Church. Gifts made to the Endowment are charitable contributions. Consult your tax advisor for guidance on the treatment of charitable contributions for your tax situation.
Click here to fill out the Endowment Gift Form.
The 1728 Society
The First Congregational Church of Holliston’s Endowment’s Fund has established the 1728 Society to celebrate those members, and friends who include the Church’s Endowment in their estate plans. When you name the Church’s Endowment as a beneficiary in your charitable gift planning, you will receive special recognition as a member of the 1728 Society.
The 1728 Society was established in 2019. It was named in honor of the year the first “meeting house” was built and opened. The meeting house was located on the site where Jordan Hall now stands. The meeting house served the congregation, without heat and backless pews, for over 100 years. In 1822, a new church was built on its present location, using lumber from the original meeting house. In 1823, a clock and bell were donated. The bell still remains and is rung every Sunday before service. The church was enlarged and expanded in 1849 and 1859.
You have the opportunity to allow the church to continue to expand in a very easy way. Click here to find out ways you can name the Endowment Fund in your estate and you will become a member of the 1728 Society, knowing that you are contributing to the long-term health of the church which had a town built around it. Click here to fill out the Donor Information Form.
Gifts in honor or memory of loved ones may be used to establish a Named Fund. A minimum of $1,000 is required for an Unrestricted Named Fund within the General Endowment Fund. Gifts of less than $1,000 in the aggregate will be placed in the General Endowment Fund.
A minimum of $5,000 is required for a Named Fund with a designated purpose and restrictions.
Recent Gifts to Endowment
It is through the generosity of our church community that the Endowment fund is able to grow. In the table below we list recent gifts that we are truly grateful for:
Frequently Asked Questions
For frequently asked questions (FAQs) about Endowment — Click here
Click on the links below for these Endowment policies:
1 Timothy 6: 17-19
Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.
“Help build our church of tomorrow, by planning today.”
Endowment Trustees – Bruce Chapin, Jerry McCue, Jessie Pyne, Scott Koehler, & Linda Gernes
To discuss a bequest or gift to the Endowment fund, contact: email@example.com