Introducing the Ridgewood Park UMC Cornerstone Endowment Fund
The Ridgewood Park UMC Cornerstone Endowment Fund is a permanent endowment fund that was established to enhance the future of our Church. It is designed to encourage and receive gifts that celebrate the living, remember our saints, or to simply express the heartfelt generosity of our Church family. The Fund Committee will prayerfully and properly manage those funds. The Fund helps support Church missions long term with the earnings resulting from investing the principal of the fund. The donor creates a legacy for the future and provides a permanent resource to witness for Christ.
How does the Cornerstone Endowment Fund operate?
The Ridgewood Park UMC Cornerstone Endowment Fund is overseen by the RPUMC Cornerstone Endowment Fund Committee, which is composed of RPUMC members, elected by the members of the Church. Income from invested principal can be utilized to start and/or support programs, mission projects, capital improvements and other ministries of the Church. The Committee also manages the investments in a manner consistent with the Social Principles of the UMC and oversees the distribution of Fund earnings.
How does the Ridgewood Park UMC Cornerstone Endowment Fund help Christ’s mission?
The Fund is established as a permanent endowment for the enhancement of the future of Ridgewood Park UMC. The distribution of Fund earnings will strengthen and expand the ministries of Ridgewood Park United Methodist Church.
Frequently Asked Questions
In addition to gifts of money, members can donate stocks, bonds, or other securities. Real estate can be donated along with oil and gas interests and other personal items of value or collectable nature.
You can provide deferred or immediate gifts that can go into the Fund as undesignated or designated funds.
How do I establish deferred gifts?
One easy way to establish deferred gifts is by naming the Cornerstone Endowment Fund as a beneficiary in your will, life insurance, or Charitable Remainder Trust. Alternatively, you can make a charitable gift of cash, collectibles, oil & gas interests, real estate, or other personal property to this fund.
What is an undesignated fund?
An undesignated fund is money that provides assistance to any Ridgewood Park UMC program and/or mission. The Cornerstone Endowment Committee directs the distributions from these funds.
What is a designated fund?
These are funds donated for specific Church purposes or facilities as designated by the Donor.
Please contact a representative for specific designated fund categories or for guidelines on how to establish a new designated fund category.
No; the primary goal is to provide a permanent endowment for Ridgewood Park UMC to extend its ministries. Unless otherwise specified by the donor, or by majority vote of a Charge Conference or the survival of the Church is at risk, only fund earnings can be spent. The gifts made through wills, insurance and outright donations will be invested in an approved manner. Spending only the income earned is the most conservative way to set up an endowment. It ensures that the Fund will exist in perpetuity.
Not necessarily. Many gifts can be made to the Cornerstone Endowment Fund in a manner that does not involve changing your will. As a deferred gift idea, naming the Fund as a beneficiary for your will, life insurance policy or charitable remainder trust will be more than adequate. The Fund can work with your attorney if your planning involves changes to your will.
The best time to give is any time that is appropriate for your family or individual circumstances, but we anticipate that most of these gifts will be made as the result of estate planning. It is not intended to replace your annual giving pledge for ongoing Church operations or your Capital Campaign pledge. This Fund was created because several members of our Church Family have indicated an interest in remembering the church in their estate planning. In addition, the Fund will gladly accept gifts that are celebrations of the living, memorial remembrances, or the result of heartfelt generosity of our Church Family.
A Charitable Remainder Trust (or Unitrust) is an irrevocable trust created under the authority of the “Internal Revenue Code”. This special, irrevocable trust (known as a “CRUT”) has two primary characteristics: (1) Once established, the CRUT distributes a fixed percentage of the value of its assets (on an annual or more frequent basis) to a non-charitable beneficiary (which is considered the “Settlor” of the trust; and (2) At the expiration of a specified time (usually the death of the settlor), the remaining balance of the CRUT=s assets are distributed to charity.
In addition to gifts of money, members can donate stocks, bonds, or other securities. Real estate, oil and gas interests, personal items of value, or collectibles can be donated. The Cornerstone Endowment Committee reserves the right to decline any gift to the Church that might not be in keeping with the Social Principals of the United Methodist Church or if environmental and/or legal liability might be deemed too great for the Church.
As John Wesley said, “Do all the good you can, in all ways that you can, as long as you ever can!” This quote embodies the goal of the Cornerstone Endowment fund: to provide a permanent endowment for Ridgewood Park UMC to extend its ministries. Unless specified by the donor, by majority vote of a Charge Conference, or in the event of a Ridgewood UMC emergency crisis (i.e. the survival of the Church), only fund earnings can be spent. The income from invested principal can be used to start and/or support programs, mission projects, contribute to capital improvements and support other ministries of the Church. The distribution of earnings will strengthen and expand the ministries of Ridgewood Park United Methodist Church. Spending only the income earned on the Fund is the most conservative way to set up an endowment. It ensures that the Fund will exist in perpetuity.