We will work with you to design an account that best fits the needs and circumstances of your ministry.
An Endowment Account distributes income to the church while the principal is allowed to grow. Endowments can encourage additional donations because of their permanence and their evidence that the church believes in its future. When your church or ministry receives a bequest, you might consider creating an endowment fund to honor the donor’s memory and to put in writing any donor restrictions on the gift.
Some accounts do not fit the specific definition of either an endowment or a custodial account. A hybrid account at the Foundation combines the benefits of an endowment with the flexibility of a custodial account. A ministry can set aside the principal of the fund, spending only the income, but retain access to the entire account in case of emergency or unexpected need.
The entire market value of a custodial account is available for distribution to the church or ministry on demand. You can also set up automatic, periodic distributions of a certain amount or percentage of the fund. There are no maturity dates and no penalties for withdrawals. The church can take advantage of the investment management opportunities offered by The Foundation and still have the funds available for current ministries. This is an especially useful tool for Reserve Funds.
The Foundation will design an account to meet the needs of your ministry. Whether it is an endowment fund, a custodial account, or a hybrid account, all Foundation accounts offer:
Please contact us for more information.