Endowment

 

  

                                             Holden Beach Chapel Endowment Fund

 

The Holden Beach Chapel has an established endowment fund that will be the repository of all future designated gifts and bequests.  A plaque will be in the Chapel narthex hallway recognizing donors giving a minimum of $10,000 or more. A minimum amount for those giving a designated gift is $100.

A explanation indicating how one can give gifts, donations and bequests is shown below.

A brochure with this information will be available in the narthex next to the Brick and New Members forms

 

 "For where your treasure is, there your heart will be also."

                       Matthew 6:21

 

 

 

      Give it now.        Give it later.        Give it twice.

 

Holden Beach Chapel Endowment Fund is made up of gifts and bequests and is subject to a requirement that the principal be maintained intact in perpetuity.  Only the interest from the fund can be spent, not the principal that anchors the endowment.  Only a portion of the interest or earnings from the endowment can be spent on an annual basis. For further information, contact secretary@atmc.net for the Endowment Committee. 

 

 

 

  • CASH

A gift of cash is one way to realize your charitable objectives. Cash gifts are tax deductible, as are all gifts.

 

  • SECURITIES

Gifts may be made to the Endowment Fund of readily marketable stocks.

 

  • GIFTS OF INCOME

A number of plans enable you to make a gift to the Endowment Fund, and still receive an ongoing income for you, a spouse, your children, or others.  Options include gift annuities and charitable remainder trusts (including unitrusts, annuity trusts, testamentary trusts, and charitable lead trusts).

 

  • TESTAMENTARY GIFTS BEQUESTS AND MEMORIALS

Through your will, you can perpetuate good works with a loving memorial.  The Endowment Fund can be a beneficiary of a portion of your estate, the recipient of a specific bequeath or the ultimate beneficiary of a charitable remainder trust.  The value of that bequeath  is deductible for federal estate tax purposes.  Memorials contributed in your memory are directed to the Endowment.

 

 

 

 

  • LIFE INSURANCE

There are several ways to give life insurance to the Endowment Fund.  You can transfer the ownership of an existing life insurance policy, purchase a new contract of insurance in the name of the Endowment Fund or name the Endowment Fund as a beneficiary of the life insurance policy.  In addition to estate tax benefits, the donor may also obtain a charitable income tax deduction for lifetime transfers.

 

  • REAL ESTATE

Real Estate may be given to the Endowment Fund during your lifetime or at your death.

 

  • RETIREMENT ASSETS

One of the easiest ways to grow our Endowment Fund is through beneficiary designations of retirement funds.  This allows you the ability to access the funds during life if and when you need them and still benefit your church upon your passing.  Imagine the impact we can have in our faith community if each of us named a percentage of our retirement funds to benefit the Endowment Fund.

 

FREQUENTLY ASKED QUESTIONS

 

  • WHO DECIDES HOW THESE EARNINGS WILL BE SPENT?

Once the Fund earns interest, Trustees of Holden Beach Chapel will determine what portion of the interest will be distributed.

 

  • CAN THE DISTRIBUTION RATE CHANGE?

            Yes. Holden Beach Chapel reserves the right at any time to

             amend the method of calculating the annual distribution in a

             manner that is acceptable to the Trustees of Holden Beach

             Chapel.

 

  • WHO IS THE TRUSTEE?

The North Carolina Baptist Foundation, Inc. (NCBF) will be the Trustee.  NCBF was incorporated in 1920 and its mission is to increase awareness of Christian estate stewardship principles as a means of financially undergirding churches, institutions, and mission endeavors on a permanent basis.  NCBF specializes in managing church funds and endowments.  NCBF currently holds in trust approximately $161 million for churches, Christian organizations and individuals.  (For information on NCBF, see www.ncbaptistfoundation.org).

 

  • HOW IS THE ENDOWMENT INVESTED?

NCBF uses Graystone Consulting in Raleigh as its Investment Consultant.  Graystone is a business of Morgan Stanley Smith Barney.  It was founded in 1973 as a unit of E.F. Hutton Co., which subsequently became a unit of Smith Barney.  Graystone meets quarterly with the Investment Committee of NCBF and recommends investment managers to oversee endowment funds, investing the money in stocks, bonds and other financial instruments.  All investments are socially screened.

 

  • DOES THE ENDOWMENT AGREEMENT PERMIT THE USE OF PRINCIPAL IF THE NEED ARISES?

If there are circumstances of dire need, the Holden Beach Chapel Trustees have the right to authorize distributions of principal.

 

  • ARE MY GIFTS TAX DEDUCTIBLE?

Yes.  You should consult your tax advisor or attorney for specific questions on estate planning.

 

  • DO GIFTS TO THE ENDOWMENT FUND REPLACE MY TITHE TO HOLDEN BEACH CHAPEL?

No.  The Bible tells us that we are to bring our tithes to our storehouse, which is our Chapel.  Gifts through the Endowment Fund are offerings above the tithe.

 

         

  • WHO DECIDES HOW THESE EARNINGS WILL BE SPENT?

Once the Fund earns interest, Trustees of Holden Beach Chapel will determine what portion of the interest will be distributed.

 

  • CAN THE DISTRIBUTION RATE CHANGE?

            Yes. Holden Beach Chapel reserves the right at any time to

             amend the method of calculating the annual distribution in a

             manner that is acceptable to the Trustees of Holden Beach

             Chapel.

 

  • WHO IS THE TRUSTEE?

The North Carolina Baptist Foundation, Inc. (NCBF) will be the Trustee.  NCBF was incorporated in 1920 and its mission is to increase awareness of Christian estate stewardship principles as a means of financially undergirding churches, institutions, and mission endeavors on a permanent basis.  NCBF specializes in managing church funds and endowments.  NCBF currently holds in trust approximately $161 million for churches, Christian organizations and individuals.  (For information on NCBF, see www.ncbaptistfoundation.org).

 

  • HOW IS THE ENDOWMENT INVESTED?

NCBF uses Graystone Consulting in Raleigh as its Investment Consultant.  Graystone is a business of Morgan Stanley Smith Barney.  It was founded in 1973 as a unit of E.F. Hutton Co., which subsequently became a unit of Smith Barney.  Graystone meets quarterly with the Investment Committee of NCBF and recommends investment managers to oversee endowment funds, investing the money in stocks, bonds and other financial instruments.  All investments are socially screened.

 

  • DOES THE ENDOWMENT AGREEMENT PERMIT THE USE OF PRINCIPAL IF THE NEED ARISES?

If there are circumstances of dire need, the Holden Beach Chapel Trustees have the right to authorize distributions of principal.

 

  • ARE MY GIFTS TAX DEDUCTIBLE?

Yes.  You should consult your tax advisor or attorney for specific questions on estate planning.

 

  • DO GIFTS TO THE ENDOWMENT FUND REPLACE MY TITHE TO HOLDEN BEACH CHAPEL?

No.  The Bible tells us that we are to bring our tithes to our storehouse, which is our Chapel.  Gifts through the Endowment Fund are offerings above the tithe.