St. Matthew United Methodist Church Endowment Program
Since 2006, the Endowment Committee has worked on a procedure, which defines the Committee's:
- Membership.
- Duties and responsibilities.
- Services that are to be provided by St. Matthew’s Endowment Program.
- Types of Gifts acceptable to St. Matthew’s Endowment Program:
The committee has worked with the Desert Southwest United Methodist Foundation to enable us to accept the following gifts to St. Matthew's Endowment Fund:
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1. How it works: Members can provide now for a future gift of cash, stock or real estate to the church by including a bequest provision in their wills or revocable trusts.
2. Benefits: The member’s assets remain in their control during their lifetime and they can modify the bequest as circumstances change. There is no upper limit on the estate tax deductions that can be taken for charitable bequests. The member has immediate satisfaction by knowing that their bequest will support the church.
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1. How it works: Members transfer cash or securities to the church’s Endowment
fund. Members receive back fixed income (interest generated from the principal)
for the rest of their lives. Upon the end of the contract, the principal is given to
the church.
2. Benefits: The member receives an immediate income tax reduction for a portion of the gift and the member receives fixed income for the duration of the contract. The member has immediate satisfaction by knowing that their bequest will support the church.
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1. How it works: Same as the Charitable Annuity gift, except that the member may defer
the start date of the fixed income payments to a future date.
2. Benefits: The member receives an immediate income tax reduction for a portion of the gift and the member receive(s) fixed income when they need it (upon retirement). The member has immediate satisfaction by knowing that their bequest will support the church.
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1. How it works: Member transfers title of their residence, farm or vacation home
to the church. They continue living in the property for the life of the contract
retaining responsibility for paying mortgage, taxes and upkeep.
2. Benefits: The member receives an immediate income tax reduction for a portion of the gift. The member can terminate the contract at any time or give the property immediately to the church to receive the balance of the income tax reduction. Again, there is an immediate satisfaction by knowing that their bequest will support the church.
The full text of the governing document regarding St. Matthew endowment program can be viewed/downloaded by clicking the link below.
If you determine you need more information or clarification, please call the church office at 480-838-7309 for the telephone number of a committee member that can help you with your request.
Presently, funds contributed to St. Matthew as an endowment, are being invested with the Desert Southwest United Methodist Foundation. If you are interested in more information about them, please visit their website at www.dsumf.org.
