|
|
The Stewardship Connection Are You Committing Institutional Suicide? by Dr. Kathleen Rehl |
|
| Surf my website:
Congregational Mission Endowment Funds Stewardship Adventures: Increasing the Harvest 15 to 30 Percent
|
Kathleen
Rehl, Ph.D., CFP and Rev. Thomas Rehl wrote this article. They
have assisted many congregations to establish or rejuvenate their
endowment programs. You may contact them by phone at (813)
949-0026 or at
www.rehlmoney.com; e-mail rehlmoney@earthlink.net You have a “window of opportunity,” but you need to act NOW! It’s estimated between the years of 1998 and 2052, from $41 trillion to $136 trillion will be transferred from one generation to another . . . with between $6 trillion and $25 trillion bequeathed to charities. This certainly will be the largest transfer of resources in history. This is frequently referred to as “the Golden Age of Philanthropy.” During the coming years, the most generous supporters the church has ever experienced (born prior to the World War II era) will be among those whose resources pass to other hands. Within the next several decades, the current generation of tithers will be replaced by a generation of baby boomers and busters not yet convinced tithing is a good idea. Now is the time for congregations to develop resources for future ministries, by asking people to remember their church in wills and other estate plans. According to Loren Mead, “The clock is ticking. I see almost no one in the churches paying any attention. We are not suffering from some inevitable decline of resources: we are committing institutional suicide.” Lyle Schaller shares a similar view in his book, The New Reformation: Tomorrow Arrived Yesterday. He emphasizes, “The money has been accumulated. Who will get it? For the most part, those who ask.” Is Your Congregation Receiving Estate Gifts? Many other non-profit organizations, including educational institutions and seminaries, recognize the importance of endowment income for their futures. Some forward-thinking congregations have also established endowment funds to provide vital resources that will help them do God’s work through their ministries in future years. Has your congregation positioned itself to be among the recipients of the coming transfer of incredible wealth? 10 Steps to Establish and Manage a Congregational Endowment Fund You can more effectively fulfill Christ’s ministry through your church’s endowment fund by following these steps: 1. Identify five to eight people to serve on an endowment fund task force. Then set a timeline to accomplish your goals. You might decide to work with an experienced facilitator to assure that your group moves through these steps smoothly. For example, someone from another congregation’s endowment committee may help your group. 2. Decide what you want your fund to accomplish. Which special ministries will it support? (Social service agencies, global missions, Lutheran scholarships, building maintenance, etc.) A survey of your congregation’s members can provide valuable insights about their ideas, too. 3. Develop the enabling documents — typically resolutions and bylaws. 4. Take these enabling documents to your Church Council and congregation for formal approval. 5. Elect or appoint the endowment fund committee, which may include some of the initial task force members. (Generally a group of about five.) 6. Provide training about wills and planned giving vehicles (gift annuities, charitable trusts, etc.) for those who will encourage endowment gifts. 7. Promote your endowment fund through brochures, newsletter articles, bulletin blurbs, seminars, donor clubs, “Leave a Legacy” events, personal contacts, letters, etc. 8. Administer your fund with integrity. Determine investment policy. Establish procedures for making grant or scholarship awards and design application forms. 9. Consider adopting the Model Standards of Practice for Charitable Gift Planners and then adhere to these ethical practices. 10. Monitor progress as your fund grows and you support vital ministry projects.
|
