What began in 1992 as the Faith Fund, an effort to support the missions programs of First Baptist in perpetuity, was merged with three other endowment funds in 2004 by a vote of the congregation.
Those four major funds are the Faith Fund designated for local, state, national, and international missions; the General Fund, for ministries and special projects; the Leadership Development Fund for the education, training, or skills development of the laity and clergy for their ministry callings, and the Property Fund, designated for major maintenance or capital needs of the church property and facilities.
“The Foundation was never intended to compete with the operating budget,” said Gordon Herring, a former chair of the Foundation Trustee Board, “but it was intended to provide a vehicle for people to make gifts that would provide resources to support the ministries that were important to them not only today but into the future.”
The Foundation has disbursed more than $1,406,228 since its beginnings as the Faith Fund in 1992. More information on the various ministries that have been funded by the Foundation as well as information detailing the methods of distributing funds and giving to the Foundation are available in the wall racks next to the Reception Desk and the FBC Media Center. Information can also be obtained by contacting Pam Spengeman.
Ways to Give
Consult your financial advisor to obtain the exact deduction for a gift you may be considering. You should consult your attorney about the applicability to your own situation of the legal principles found in the information below. But prayerfully consider these ways to give:
Cash – Cash is the simplest, most direct, and most popular type of charitable gift.
Securities and Real Estate – gifts of appreciated property, such as securities and real estate, are also popular alternatives to cash. Such gifts generate a double tax benefit. In addition to receiving an income tax charitable deduction for the full fair market value of the property, the donor escapes any potential tax on the capital gain element in the property.
(Current gifts letter of intent)
Charitable Remainder Trusts – The charitable remainder trust is a popular plan of the financial and estate planning flexibility it offers. A donor can transfer property under a trust agreement that specifies how trust income and principal are to be distributed, and the trust may be created to become effective during life or at death. Financial advisors can advise donors on the multiple options and forms qualifying for special tax consideration.
Gifts Under Your Will – Gifts under wills have become an important part of the American philanthropic tradition because they enable individuals to make significant gifts that they may not have been able to make during life. Charitable bequests can take various forms: specific, general, residual, contingent. These may provide for unrestricted support of the church or restricted support for a specific purpose.
Life Insurance – Life insurance itself can be a direct funding medium of a gift, permitting the donor to make a substantial gift for a relatively modest annual outlay.
(Deferred gifts letter of intent)
You can donate stock or real property to the church. Due to church policies and procedures in dealing with these gifts, time is required to process these types of donations to insure contribution credit by year’s end. Please contact Gail House for more information.