PERMANENT ENDOWMENT PROGRAM

The Aldersgate United Methodist Church Permanent Endowment Program was established by the Church in 2007 to permit church members and others the opportunity to make Legacy Gifts to Aldersgate and its ministries. These gifts can continue giving for extended periods of time, even beyond the donor’s lifetime and can help ensure Aldersgate’s future and serve as a living memorial. Click HERE to learn more about Aldersgate’s Permanent Endowment Program.

Contact Information: Aldersgate United Methodist Church 6610 Vaughn Road Montgomery, Alabama 36116 Telephone Number: (334) 272-6152

FAQs

  • Webster defines an endowment as a permanent source of income--the transfer of money or property to a qualified charitable organization such as academic, cultural, health or religious institutions, etc. Like the parable of the Mustard Seed, with each gift added to other gifts, an endowment can grow over time providing substantial financial benefits for our church. As a result, the MOTTO for our PEP is: “A Legacy of Supporting Aldersgate and Its Mission FOREVER.”

  • The PEP was established for the purpose of providing members and friends an opportunity to make charitable gifts to our church that will have a lasting impact on the church’s future and serve as a living memorial. The most appealing part of the PEP is that the principal amount donated lasts forever and only the interest earned will be used to provide a forever source of additional income for our church and its ministries--“the gift that keeps on giving.”

  • There are basically two ways you can give. You donate by Direct Gifts (Examples: In Honor/In Memory of an individual) of cash, investment securities, real or tangible personal property; or more typically by Legacy Gifts (Examples: Bequest in your Will, designating the PEP as a beneficiary in a life/term insurance policy. In most cases, a Legacy Gift is a once-in-a-lifetime financial commitment to our church’s future and our children--a final tithe to the church.

  • There are many unfunded programs in each year’s church budget that could benefit from the PEP. Examples might include: Providing upfront money to pay for new unfunded program initiatives; assisting with the cost of Youth Trips during each summer; and providing an additional source of funds to cushion any financial challenges that our Annual Stewardship Campaign may face in the future.

  • The church’s Permanent Endowment Fund Committee has the overall responsibility for the PEP and for educating church members on the PEP, managing the investment strategy and disbursement of interest earned, assisting church members during the endowment process, and recognizing those who have donated to the PEP.

  • Our investment partner is the Alabama-West Florida United Methodist Foundation located in Dothan, Alabama. It manages over 60 million dollars of assets and its investments conform to the Social Principles of the United Methodist Church.

4 STEP ENDOWMENT CHECKLIST

Aldersgate United Methodist Church Permanent Endowment Program

Four-Step Endowment Checklist

The following information applies to the Aldersgate United Methodist Church (UMC) Permanent Endowment Program (PEP) and is provided to assist church members with the endowment process. 

Step One:

Become familiar with the ministries that are available in the Aldersgate UMC PEP.  Request a PEP Brochure and review the information.  The Permanent Endowment Fund (PEF) Committee is available to answer any questions you may have--or find the answers--about the endowment program and assist you during the endowment process.

Step Two:

Determine the amount (dollars or percent of estate) you want to contribute and the endowment fund where you want to direct your gift:

  • $$$ or % Permanent Endowment Fund (needs determined by Church Leadership)

  • $$$ or % Mission Endowment Fund (missions in and beyond local church)

  • $$$ or % Property Endowment Fund (care and maintenance of facilities)

  • $$$ or % Donor/Purpose Named Endowment Fund (for example:  Youth, Music, Food Pantry, etc.).  Minimum donation of $25,000 required to establish a Donor/Purpose Named Endowment Fund.  No minimum for the other funds.   

Step Three:

There are basically two ways you can donate to the PEP.  You can make a Direct Gift of cash, investment securities, real or personal property or a Legacy Gift such as a bequest in a Will, designating the PEF as a beneficiary in a life/term insurance policy or annuity, etc.  The attached Donation Guidelines are provided to assist you with information on each gift and suggested wording, if applicable.

Step Four:

If you desire and the PEF Committee encourages you to do so, please provide the PEF Committee with information of a Legacy Gift so the church can appropriately thank you and have a record of your gift.  We will respect your privacy and only acknowledge publicly your name(s) and donation with your signed authorization to release--but never the dollar amount. Legacy Gift to Permanent Endowment Program Form (bequests in a Will, beneficiary designation in a life/term insurance policy or annuity, etc.) is attached. 

Click HERE for a printable form.

DONATION GUIDLINES

Aldersgate United Methodist Church (UMC)

 Permanent Endowment Program (PEP)

Cash
Any cash payment directed to the Permanent Endowment Program (PEP) should specify either the undesignated Permanent Endowment Fund* or a designated endowment fund (e.g., Mission Endowment Fund, Property Endowment Fund, Donor/Named Endowment Fund). 

Checks
 Any check directed to the PEP should be Made Payable To:  Aldersgate UMC, and in the For section of the check, specify either Permanent Endowment Fund* or a designated endowment fund (Mission Endowment Fund, Property Endowment Fund, Donor/Named Endowment Fund).

Appreciated Securities
Any securities (stocks, mutual funds, bonds, etc.) directed to the PEP should first be discussed with the Permanent Endowment Fund (PEF) Committee as there are tax implications/savings information that can be provided.

Property Transfer
Any property (land, real estate, personal items, etc.) directed to the PEP should first be discussed with the PEF Committee to confirm transfer procedures and their acceptance of the property.

Life/Term Insurance and Annuity
 A beneficiary designation from an life/term insurance policy or annuity directed to the PEP should specify in the Beneficiary Section the church to receive the gift; either the undesignated Permanent Endowment Fund* or a designated endowment fund (Mission Endowment Fund, Property Endowment Fund, Donor/Named Endowment Fund); and dollar amount or percent of estate.  Example wording such as: “Aldersgate United Methodist Church, 6610 Vaughn Road, Montgomery, Alabama 36116, to benefit the Permanent Endowment Fund ($$$$ or XX %).”

Will Bequest
 A bequest in a Will directed to the PEP should specify the name of the church to receive the gift; either the undesignated Permanent Endowment Fund* or a designated endowment fund (Mission Endowment Fund, Property Endowment Fund, Donor/Named Endowment Fund); and dollar amount or percent of estate. Example wording such as: “I devise and bequest of my estate ($$$$ or XX %) to the Permanent Endowment Fund or its successor, and ($$$$ or XX %) to the Mission Endowment Fund or its successor, to benefit Aldersgate United Methodist Church, located in Montgomery, Alabama.”  

Charitable Gift Annuity
 A gift annuity with the Alabama-West Florida United Methodist Foundation should specify either the undesignated Permanent Endowment Fund* or a designated endowment fund (Mission Endowment Fund, Property Endowment Fund, Donor/Named Endowment Fund).  Example wording such as: “Permanent Endowment Fund, Aldersgate UMC, Montgomery, Alabama”.

* Note:  Any of the above gifts donated to Aldersgate UMC’s PEP without specifying a endowment fund will be directed to the undesignated Permanent Endowment Fund.

 This information is not intended as legal, tax or investment advice.  Please consult your attorney, tax professional or investment professional for advice.