Canterbury UMC
Monday, April 21, 2014

CUMC Foundation

 
 

 

Consider making a gift that will impact the lives of Canterburians —maybe including your own children and your children's children — far into the future. Your gift through the Canterbury United Methodist Foundation gives you the ability to reach into the future and to influence the world in which your family and loved ones will live.
The gift that you make today will live on to change lives for generations to come.
How are gifts to the foundation different from regular gifts to the church?
Regular gifts are used in support of various ministries within a one-year period, while gifts to the foundation provide ministry support over a long  period of time into the future.

How can my specific gift actually benefit others over such a long period?
The foundation manages its funds in such a way that it uses only a portion of the investment return — the corpus is not invaded. That means that all monies given are in perpetuity, and your contribution
can live on in endless duration to benefit the church and the needs of others.

 
 
 
 

Are there specific advantages to leaving funds to the foundation versus the church?
Both result in the same tax advantage to the donor, but gifts to the church are used for short-term ministry needs, while gifts to the foundation continue to give through the investment returns they produce. The foundation provides the mechanism and the security to accomplish the church's mission work over the long run.
 
Does the foundation provide tax benefits?
Yes. Generally gifts to the foundation are tax-deductible. You should consult your accountant for details.
 
May gifts be designated?
Certain funds already have a specified direction. If you would like to make an undesignated gift, or contribute to an area that is not covered by one of the foundation's existing funds, please contact the church directly and we will be happy to talk with you about it.
 
How can I give to the foundation?
If you have already made a bequest to the foundation, but have not yet notified the church, please contact Dr. Bill Morgan or Rev. Warren Nash to let them know of your arrangements.
Planned gifts to the foundation include:
 
Lifetime Trusts and Gift Annuities
These include certain income-producing trusts established during your life as well as gift annuities.
 
Will Appointment or Estate Bequest
Examples of this type of gift include a bequest for a specific dollar amount to Canterbury United Methodist Foundation; a bequest of specific assets, such as securities, home and other residential or commercial property; or a bequest as a percentage of your estate.
 
Residuary Bequest
A bequest of all the residue of your estate to the Canterbury United Methodist Foundation after specific bequests to others, debts, taxes, and estate expenses have been paid, or a bequest of a certain percentage of the residue of the estate.
 
IRA or Other Retirement Accounts
Naming the foundation as beneficiary of your IRA and similar accounts may have advantages in those instances where the undistributed portion will be taxed both in your estate and in your income tax return.
 
Bequest to Charitable Remainder Trust
One or more named beneficiaries receive income from a trust established under your will. Upon the death of the last surviving beneficiary, all or part of the principal passes to the Canterbury United Methodist Foundation.
 
Insurance
A gift of a life insurance policy with the Canterbury United Methodist Foundation named as both owner and beneficiary. Your payments of the annual premium qualify as a charitable gift.
 


Who manages the foundation, invests the funds, and decides how the money is spent?
The Canterbury United Methodist Foundation is governed by a sixteen-member board, made up of the senior pastor, the church's trustees, and up to six at-large board members. The funds themselves are part of the trust division of a major bank.
Why was the foundation established?
The foundation was first established in 1991 for supporters of Canterbury United Methodist Church who wished to create an endowed fund or make some other form of deferred gift in their estate plans that would eventually benefit the vision and mission of the church. Since that time, a number of Canterbury members have made deferred-gift contributions to the foundation. We have a better church today because of this foundation.
 
Who can I contact for more information?
 
Rev. Warren Nash / Executive Minister
 
Dr. Bill Morgan / Senior Minister