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ENDOWMENT FUND
First United Methodist Church,
Dalton, Georgia
Mission: Creating an endowment to honor and preserve
"the house built by God" Hebrews 3:4
PURPOSE:
The Permanent Endowment Fund of First United Methodist Church of
Dalton, Georgia, hereafter referred to in this document as the "Endowment Fund," is
established for the purpose of providing members the opportunity to make charitable gifts
as a living memorial to loved ones and friends that will become a permanent fund yielding
income for financial support of First United Methodist Church of Dalton, Georgia.
The Endowment Fund is intended for purposes that are not funded through the annual operating budget of the
church and the regular giving of its members.
The Endowment Committee asked Dr. Robert Fletcher, Executive Director for the North Georgia Foundation, which manages our funds, "What are the most popular ways people choose for giving endowment gifts?" Dr. Fletcher's answer was simple. "The most popular method is leaving a bequest in a will. The second most popular is, far and away, the Charitable Gift Annuity." In a Charitable Gift Annuity, the donor sets aside a certain number of dollars and, in accordance with industry actuarial tables, receives income from that money for life. After death, the remainder, in whole or in part, will go to the church. The paperwork for a Charitable Gift Annuity is simple to execute, but every potential donor will want to consult his or her own advisors first. Currently, we have several endowments which yield 4% each year to support specific ministries: 1. The Margaret and Ed Million General Music Endowment Fund, named for the family who initiated the endowment, is used to enhance the music ministry of the church. 2. The Margaret S. Painter and C. Sue Phelps Day Care Scholarship Fund offsets fees for day care for children. 3. The General Facilities Endowment Fund is used for general maintenance projects. 4. The Loraine Edwards Parrott and Valvard DeForrest Parrott Memorial Scholarship Fund is used to provide scholarships to United Methodist college students. 5. The George and Mary Kirkpatrick Youth Music Endowment, named for the family who initiated the endowment, is used to enhance the youth music ministry of the church.
FREQUENTLY ASKED QUESTIONS:
Q: Is an endowment gift tax deductible?
A: Yes, your gift has the same tax benefits as your other gifts to the church or any charitable organization. other tax
advantages are available by creating a "Remainder Trust" or funding an endowment through your "Will."
Q: I see it takes $50,000 to set up a new endowment fund, but how much do I have to give to make a contribution to
an existing endowment fund?
A: Any size contribution may be given to our existing funds. The $50, 000 minimum gift is designed for starting a new
fund with a specific purpose and it is usually named in honor or in memory of someone.
Q: What if I want to leave a large gift to our church but I would like the ivestments and distributions structured
differently from anything our endowment funds offer. Can you help?
A: Yes. We are here to help with your request and will be glad to consider customizing a fund that will meet your
objectives. Another solution might be the Community Foundation of Dalton/Whitfield Co. Several of our members
have established donor-advised funds at the Foundation which supports many types of charitable activities,
including our church. We will be glad to introduce you to the Foundation.
If you would like to discuss the possibility of leaving a gift to the church or establishing a named endowment, please contact one of the Pastors, a member of the Endowment Committee, or Pattie Gober, pgober@optilink.us or 706-278-8494 or
Murray Bandy, murray@carpetexpress.com or 706-278-6974
Murray Bandy - Chairman, Kathryn Kelehear - Secretary, Don Adcock, Tom Bartley, Bob Combs, Donna Hair, Dixie Kinard,
Lester Strain, Helen Tuck, Sue Tuggle, Robin Lindsey, Billy Beard, Steve Roan, Lowell Kirkman, Jane Snipes, Patti Gober
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