OUTRIGHT CASH GIFTS
Cash gifts may be appropriate when you or your family realize an unexpected windfall or bonus, or to commemorate or honor a special event or person.
GIFTS OF STOCK
Transferring appreciated stock allows the church to benefit immediately from your investments and may provide immediate tax benefits.
BEQUESTS
Your attorney can advise you on various ways to provide for the church in your will. If you already have a will, you can provide for Providence by asking your attorney to add a codicil.
GIFTS OF IRA’S, RETIREMENT PLANS AND LIFE INSURANCE
Naming Providence as a beneficiary is an easy way to leave a lasting legacy.
The PPC Endowment fund will accept cash and liquid assets that are readily convertible to cash. If the Fund receives an asset such as a stock fund, certificate of deposit, bond fund, or a similar liquid asset, the Endowment Committee will decide whether to hold the asset in the form as it was contributed or liquidate the asset and invest the cash elsewhere.
The objective of the Church is to have one Endowment Fund with income and realized gains from the Fund used as described later in this Policy. Endowment Fund marketing materials will stress that when members make plans to contribute to the Endowment Fund, they should be encouraged not to specify a particular use other than PPC Endowment Fund.
At the discretion of the Endowment Committee, large donations to the Endowment Fund marked for a specific purpose may be maintained as a second, specific purpose Endowment Fund. Special purpose endowment gifts must be a minimum of $50,000 to establish a new special purpose Endowment Fund. Gifts less than $50,000 for which a special purpose Endowment Fund has not been established will be moved to the main Endowment Fund.
Endowment Fund gifts such as real estate, automobiles, or other tangible assets will only be accepted if the Endowment Committee provides prior approval.
The corpus of the PPC Endowment Fund will be a permanent bedrock of enduring support for the church’s worship, ministries, and outreach. Only income and realized capital gains generated from the corpus can be used for church purposes. The corpus may not be disbursed without the prior approval of Session. Session may only grant this approval if 1) there are extraordinary circumstances facing the church, 2) the donor approves the change of use of their contribution, and 3) the action does not violate any law.
The Endowment Committee will recommend to Session how Endowment Fund income and realized capital gains will be used. These uses may include worship, ministries, outreach, church operations, or programs similarly providing for the nurture of the congregation.
An endowment fund provides income to the church in perpetuity. The PPC program is established to assure the church will continue to provide worship, ministry, and outreach opportunities in the name of Jesus Christ.
