Make a Long-Term Investment in God's Work Through Christ Lutheran
A long-term investment allows us to achieve our Mission of REACHING BEYOND.
Planned giving provides the ability of our congregation to support the church for future generations.
Learn more about planned giving and estate planning by contacting us or by attending the Legacy Planning Luncheon in November.
PLANNED GIVING AT CHRIST LUTHERAN
About the November Luncheon:
The CLC Endowment Team, along with Stephanie Burke, Regional Planner for the CLCA Foundation will present:
- Alternatives to consider in developing your estate plan to best serve your family
- Opportunities to participate in Planned Giving at Christ Lutheran and how your planned gifts can provide long-term financial stability for CLC and its various ministries
- Assistance available to develop or enhance your estate plan
DOWNLOAD OUR PLANNED GIVING BROCHURE
About Christ Lutheran's Endowment Funds
ENDOWMENT I – BENEVOLENCE & COMMUNITY OUTREACH
The purpose of Endowment I is to enhance and support the outreach initiatives of Christ Lutheran apart from general operation of the congregation and capital expenditures, and no portion of the income generated by the Fund shall be used for the annual operating budget of the congregation.
ENDOWMENT II – SPECIAL PROJECTS & ONE-TIME NEEDS
The purpose of Endowment II is to enhance and support Christ Lutheran as directed by the Congregational Council, and no portion of the income generated by the Fund shall be used for the annual operating budget of the congregation. The funds from this Endowment, including corpus, may be used for major church repairs.
Planned Giving Guide
Frequently Asked Questions
WHAT IS AN ENDOWMENT?
An endowment is a specified fund established by a non-profit organization, often a church, which invests donations to the fund and uses the income generated from the fund for specified purposes. The assets donated to the endowment become the “principal” or “corpus” of the fund, which is designed to grow over time and to generate income to enable the organization to provide sustained long-term funding for specified purposes without having to rely on the organization’s operating funds.
WHAT IS PLANNED GIVING?
Planned giving refers to structured gifts made either during a donor’s lifetime or as a legacy or charitable estate gift, effective upon the donor’s death. Planned gifts may be either designated for deposit into the CLC Endowment Fund I or II.
A planned gift may be either unrestricted (available for any purposes consistent with the Endowment Fund and approved by CLC) or restricted (able to be used only to support ministries specified by the donor). A restricted planned gift may be designated for an existing CLC ministry or to start a new ministry.
HOW DOES PLANNED GIVING DIFFER FROM “EVERYDAY” GIFTS TO CHRIST LUTHERAN?
The typical gifts to CLC are in the form of contributions to support current, ongoing operations and ministries on an annual basis. These contributions include traditional gifts (cash, check, electronic funds withdrawals, credit/debit card payments) as well as some non-traditional gifts (stock and IRA transfers, Thrivent Points). These types of gifts are usually unrestricted in nature and are deposited into the Church’s General Fund or one of its operating accounts upon receipt.
With certain exceptions such as setting up of reserves for capital improvements or other future needs, funds deposited into the CLC operating accounts are typically expended in the fiscal year in which they are received.
By contrast, planned gifts are often made on a pledge basis over several years and are commonly restricted as to their ultimate use and purpose. The bulk of any planned gift designated for either of the CLC Endowment Funds is intended to remain invested with limited distributions of income and, in some cases, principal to support CLC’s internal and external ministries. In this way, most of the principal of a planned gift continues to grow over time, helping the Church to achieve long-term financial stability and security.
WHAT FORM CAN PLANNED GIFTS TAKE?
Although cash or cash equivalents are the most common types of planned gifts, there are many other forms these gifts can take: stocks, bonds and other securities; real estate; life insurance beneficiary designations; retirement account and pension survivor beneficiary designations; qualified charitable distributions from IRA accounts, and distributions under wills and living trusts.
All non-cash assets offered to CLC as planned gifts are reviewed and subject to acceptance by either the Endowment Team or the Congregation Council. Upon request, the Pastors or the Endowment Team can refer potential donors to experienced legal and financial advisers who can assist in the creation of appropriate planned giving documents.
WHAT IS A LEGACY GIFT?
Also known as estate gifts or charitable estate gifts, legacy gifts are made to one of the CLC Endowment Funds as well as the General Operating Fund. Legacy gifts are made by a donor through their will, trust, estate plan, or as a designated beneficiary on a financial asset. They are realized after the death of the donor, and may consist of traditional or non-traditional gifts.
If you have questions or need more information about Christ Lutheran's Endowment Funds or Planned Giving, please contact one of our pastors or fill out our Contact Form.