Trinity Lutheran Church Mission Endowment Fund
A fund designed to promote responsible Christian stewardship and to expand and enhance the mission outreach objectives of Trinity Lutheran Church through the financial support of congregational, community, and global synodical needs.
Purpose
The purpose of the Trinity Lutheran Church Mission Endowment Fund (MEF) shall be to promote responsible Christian Stewardship of people’s accumulated assets and to enhance and expand the mission outreach objectives of Trinity Lutheran Church through financial support of congregational, community and global synodical needs. The areas of special need to be serviced by the Mission Endowment Fund expenditures shall be separate and apart from those areas normally serviced by the general operating funds of the congregation. No portion of the Mission Endowment Fund expenditures shall be used to meet the needs of the annual operation budget of the congregation. The four (4) primary areas to be supported by the Mission Endowment Fund expenditures are:
a. Financial support and aid to persons in time of special need.
b. Financial support and aid for special programs and physical facility needs of Trinity Lutheran Church which are not included in the annual operating budget.
c. Financial support and aid for local and community organizations, institutions, agencies, groups and programs in the areas of spiritual, educational, health, social and recreational needs.
d. Financial support and aid for the national and global mission needs of the Evangelical Lutheran Church in America and its Sierra Pacific Synod.
Frequently Asked Questions
How are Trinity Lutheran Church Mission Endowment Funds accessed?
If you are a member of an organization who can benefit or know of a beneficiary that meets the criteria listed above and may benefit from the receipt of a Mission Endowment Fund Grant, please contact the church office to access information and grant application.
Are the gifts to the Trinity Lutheran Church Mission Endowment Fund tax deductible?
Yes. Gifts to the Endowment Fund qualify as charitable donation. Several kinds of gifts allow you to continue to use the donated property or receive income during your life, and still receive a tax donation. It is recommended that you speak to your financial advisor/accountant for more information on gifts of this kind.
What types of gifts are possible?
1. Cash or Check.
2. Real Estate property, stocks or bonds as direct contribution (to avoid capital gains tax).
3. Life Insurance, by naming the Mission Endowment Fund as beneficiary of a life insurance policy, you can make a sizable gift at a small cost, and at the same time realize tax savings. Paid up policies, existing policies or specially purchased policies may be used.
4. Life Income Agreement or Charitable Gift Annuity. Older donors may be more interested in this option. It guarantees a life income to the donor and minimizes estate tax burdens. Upon death, the remainder becomes a gift to Trinity Lutheran Church Mission Endowment Fund.
5. Estate bequests.
6. Naming the Trinity Lutheran Church Mission Endowment Fund as a beneficiary of donations made in honor of a special event such as; wedding, anniversary or a loved one’s death.
What kind of gifts can be made to the Trinity Lutheran Church Mission Endowment Fund?
Listed below are possible goal scenarios and information to inform your decision as to the type of gift you would like to make, along with the benefit of making each type.
|
Goal |
Action |
Benefit |
|---|---|---|
|
If you wish to make a quick gift… |
You can write a check |
You can write a check You benefit by obtaining a charitable income tax deduction and immediate impact for Trinity Lutheran Church Mission Endowment Fund. |
|
If you wish to avoid tax on capital gain… |
You can contribute highly appreciated assets that you’ve owned for more than a year, such as stock, real estate or mutual funds. |
You benefit by obtaining a charitable deduction for the full market value plus no capital gains. |
|
If you wish to keep your financial options open during your lifetime… |
You can put a bequest in your will (giving cash, IRA benefits, specific property) or a share of your residuary estate. |
You benefit by obtaining a taxable estate reduced by one dollar for every dollar donated. |
|
If you wish to protect assets and financial flexibility for you and your loved ones… |
You can transfer assets to a revocable trust and name Trinity Lutheran Church Mission Endowment Fund as the beneficiary. |
You benefit by retaining full control of the trust and its terms, a reduced taxable estate and no public probate of trust. |
|
If you wish to secure fixed income guaranteed for the rest of your life… |
You can give cash or stock to fund a charitable gift annuity naming Trinity Lutheran Church Mission Endowment Fund. |
You benefit by receiving a charitable deduction, some tax-free income and no market risks. |
|
If you wish to diversify your portfolio, avoid capital gains and boost your income… |
You can create a charitable remainder trust that makes payments to you and your loved ones. |
You benefit by obtaining a fixed or variable income for the rest of your life, a charitable deduction and a reduced taxable estate. |
|
If you wish to protect your estate from taxes due on your IRA, 403(b) or pension… |
You can name Trinity Lutheran Church Mission Endowment Fund as the beneficiary of all or a portion of the plan assets remaining after your lifetime. |
You benefit by receiving reduced estate and income taxes on your loved ones’ inheritance. |
|
If you wish to avoid capital gains tax on the sale of real estate… |
You can give the property to Trinity Lutheran Church Mission Endowment Fund or transfer it to a charitable trust. |
You benefit by receiving a charitable deduction, a reduced estate, plus no capital gains tax. |
|
If you wish to create a hedge against inflation over the long term… |
You can donate stock or cash to the Trinity Lutheran Church Mission Endowment Fund or fund a charitable remainder trust naming Trinity Lutheran Church Mission Endowment Fund. |
You benefit by receiving a variable income that may grow over time as the value of the gift grows too; a charitable deduction and no capital gains tax. |
Making a Donation to the Mission Endowment Fund
The Mission Endowment Fund Board, in partnership with the Trinity Lutheran Church Council and staff have created three options from which to choose in order to provide greater flexibility for the donor.
Descriptions of Mission Endowment Fund Investment options are listed below.
____Thrivent In-Faith Fund
• Faith-based Financial Services Group that provides charitable donation services through a collaboration with Thrivent Financial.
• Offers flexible “Giving Circle” investment products tailored to the interest/needs of contributors.
• Vast portfolio options for Individual Contributions and Managed Group Distributions.
____ Smith Financial and Insurance Solutions
• Financial Planning group that offers a wide range of services and investment products for both business and personal uses.
• Smith Group Licensed Representatives provide consulting services in exchange traded securities, variable investment vehicles, and insurance products.
• Extensive experience in Estate Planning and Retirement Planning.
After Determining the Kind of Gift: Select an Investment Preference
Once a decision is made to donate funds to the Mission Endowment Fund, the donor must complete the Mission Endowment Fund Investment Preference Form and submit it along with the donation.
Option 1: Designate 100% percent to only one investment funding source.
Option 2: Designate a certain percentage amount to both investment funding sources.
Option 3: Designate the funds be invested at the discretion of the Mission Endowment Fund Board.
The Mission Endowment Fund Investment Preference Form can be accessed by contacting the church office at 559-229-8581.