Endowment & Planned Giving
A Foundation for the Future
The St. Paul’s Episcopal Church Endowment Fund helps provide long-term stability for the parish and resources for work beyond the annual operating budget. The Vestry adopted the enabling resolution on October 21, 2008, and the Endowment Board first met in 2009.
The source described an Endowment of approximately $1 million, with about 40 percent in donor-restricted funds and 60 percent unrestricted. The parish did not receive regular operating income from the Endowment; withdrawals were made when specifically requested by the Vestry and approved by the Endowment Board.
Under the source Policies and Procedures, Endowment funds may support:
-
Capital needs of St. Paul’s
-
Outreach ministries and grants
-
Seed money for new ministries and special one-time projects
-
Purposes specifically designated by donors
The fund is not intended for routine operating expenses or as a general reserve. The Policies and Procedures are reviewed periodically.
Current Policies and Procedures of the St. Paul’s Endowment Fund:
Oversight and Investment
The Endowment Board is made up of St. Paul’s members appointed by the Vestry for three-year terms. The source states that Wells Fargo Advisors managed investments under the church’s policies and a prudent-person philosophy.
Planned Giving
We are indebted to the generations whose faith and generosity sustained St. Paul’s before us. Planned giving, also called legacy giving, allows a person to include the parish in an estate or financial plan so that future generations can continue the work of worship, welcome, and witness.
Planned giving is not reserved for the wealthy. It is available to anyone who wants to make a thoughtful decision about the future use of their resources. A planned gift may honor a loved one, celebrate a person’s relationship with Christ through St. Paul’s, provide potential tax or estate-planning benefits, and make possible a gift larger than could be given from current income. Because each person’s circumstances are different, consult qualified legal, tax, and financial advisors before making a planned gift.
Forms of Planned Gifts
Bequests
St. Paul’s may be named as a primary or contingent beneficiary of a retirement, bank, investment, or other eligible account. The account administrator provides the required form.
Beneficiary Designations
St. Paul’s may be named as a primary or contingent beneficiary of a retirement, bank, investment, or other eligible account. The account administrator provides the required form.
Charitable trusts and life-income gifts
Depending on individual circumstances, pooled income funds, charitable gift annuities, or charitable remainder trusts may provide income during life and a future gift to the parish.
Life insurance
A policy may be given outright or St. Paul’s may be named as a primary or contingent beneficiary.
Appreciated securities
Stocks, bonds, or mutual funds held for the required period may offer tax advantages when transferred directly to the parish rather than sold by the donor.
IRA qualified charitable distributions
Eligible donors may be able to make a qualified charitable distribution from an IRA to St. Paul’s, potentially reducing taxable income and satisfying all or part of a required minimum distribution.
The 1858 Circle
St. Paul’s was established in 1858 by the Rt. Rev. Thomas Atkinson, Bishop of North Carolina. Bishop Atkinson envisioned an expansive church united in carrying the Gospel to all people. For more than 160 years, parishioners have sustained that vision through faith and generosity.
The 1858 Circle honors people who remember St. Paul’s in their estate plans. A future gift is a meaningful way to continue supporting the parish beyond one’s lifetime, strengthen the Endowment Fund, and help St. Paul’s develop ministries beyond what annual operating funds alone can provide.
We invite you to join the 1858 Circle and carry forward the spirit of open doors, open hearts, and open hands.
Next Steps
If you are exploring a planned gift:
-
Review the Endowment Fund information and current policies.
-
Consult your legal, tax, and financial advisors.
-
Contact plannedgiving@spechurch.com for a confidential conversation.
If you have already included St. Paul’s in your plans, thank you. Please let us know so that the parish may thank you appropriately and, if you wish, welcome you to the 1858 Circle.