“You will be enriched in every way so that you can be generous on every occasion, and through us your generosity will result in thanksgiving to God.”
2 Corinthians 9:11
What Is the Covenant United Methodist Church Endowment Fund?
It’s a permanent fund established to support projects above and beyond normal budgeted items. The endowment brings assurance that Covenant’s missions and ministries are brought to life and grown for generations to come. Separate from the church’s annual operating budget, the fund is built entirely upon the vision and generosity of Covenant’s friends and families.
Endowment gifts can:
• begin ministries for which there is no funding
• support new programs
• provide additional support for existing ministries
Your endowment gift allows church leaders to plan ahead with confidence – and enables ministries to accomplish things they would not be able to do through typical budget channels. The endowment fund was created to ensure sound financial support for the future of our church.
How Large Does My Gift Have to Be?
Gifts of all sizes are important to the growth of our missions and ministries. Every dollar increases the earning power of the fund while remaining specific to its designated purpose.
Who Manages the Fund?
The fund is managed by Covenant’s endowment committee, which is elected by the charge conference. The committee ensures both the preservation and the growth of funds and manages gifts made through wills, insurance, or outright donations; the principal from these gifts is invested, with distributions used to strengthen and expand the ministries of the church. The investment portion of the fund is managed by the Northwest United Methodist Foundation, which was created by the Pacific Northwest Annual Conference in 1966.
Are My Gifts Tax-Deductible?
For income tax purposes, yes. You may, however, wish to consult with your tax professional before making a commitment.
How Can I Give?
By giving to the endowment fund, you are creating a legacy of stewardship that will last.
• Give to the undesignated endowment fund. All gifts are welcome, and each is important! The undesignated fund can accept gifts of any size.
• Establish a new endowment fund. With a gift of $20,000 or more, individuals or families can make a commitment that will support Covenant forever. In consultation with the endowment committee, named funds could include:
− missions (sister church trips, local outreach)
− adult ministries (Bible studies, small groups, workshops, marriage and singles ministries)
− music, worship, and arts (worship teams, drama, special events, multimedia, banners)
You determine which assets you would like to use to make your gift:
• wills (bequests)
• stocks/bonds/traditional IRA Required Minimum Distributions
• memorial gifts
• life insurance
• real estate/property
How Can I Get More Information about the Endowment Fund?
Please contact Rick Thomas, Covenant Endowment Fund committee chair:
Thank you for prayerfully considering how you might help in this unique and lasting way.