The difference between the Endowment Fund and the types of operating or capital funds is that the endowment assets are invested for perpetuity. The point of the Endowment Fund is to provide a steady, predictable source of income over time. It can help provide financial support for our mission and ministries.

 

Gifts of any amount are welcome.

• Gifts of $50,000 or more, may be used to establish a new designated sub-fund.
• Gifts under $500 will be placed in the Undesignated General Endowment Fund.
• Gifts of $500 or more may be placed in the Undesignated General Endowment Fund, or into one of the six designated sub-funds:
  • Capital Improvement & Unbudgeted Property Maintenance Fund
  • Children & Youth Ministries Fund
  • Adult & Senior Ministries Fund
  • Worship & Music Ministries Fund
  • Scholarships and Christian Education Fund
  • Outreach & Missions Fund

 

Fund Administration

The Permanent Endowment Fund Committee oversees fund administration and assures that income generated each year is used to do God’s work according to the donors’ wishes.

 

Where are the funds invested?

All investments and accounting are professionally handled through the Florida United Methodist Foundation, Inc., in Lakeland, Florida.

 

How do I make gifts to the PHUMC Permanent Endowment Fund?

To ensure your legacy gift goes to the Permanent Endowment Fund, please use the following language:

To the Palm Harbor United Methodist Church Permanent Endowment Fund, I give _____% (or a specific amount) of my estate.

 

For more information, you can visit the Planned Giving/Florida United Methodist Foundation

 

 

Planned giving is a wonderful way to create a legacy of generosity that will benefit PHUMC and its ministries for years to come. Anyone can make a planned gift – you do not need to be wealthy. A planned gift is a gift you develop in your lifetime, however, the principle benefits do not pass to the Endowment Fund until sometime in the future, usually upon your death or the death of the person you have designated as a secondary beneficiary.

 

Since these gifts usually require advance planning, you should seek the advice of an attorney, financial advisor, or tax advisor before making a gift. The Florida United Methodist Foundation, Inc., also provides free confidential counsel to anyone who is considering a gift to the church.

 

Some of the most popular planned gifts are listed below. Click on the links to learn more.

• Will/Trust
• Gift Annuities
• Charitable Trusts
• Donor Advised Funds

For more information, please contact the PHUMC Finace Manager, Michelle Premuto at 727-683-2626, or the Florida United Methodist Foundation website to learn more. 

 

Will/Trusts

A proper will or trust is an opportunity for you to assure good intentions become reality. An up-to-date will or trust, prepared by a competent attorney, gives you the final say concerning the disposition of your property and the selection of those who will administer your estate when the time comes.

 

Bequests

Bequests are a way that you can leave a lasting legacy, but continue to use the donated property during your life. It is one of the easiest gifts to make.   With the help of an advisor, you can include language in your will or trust specifying a gift to your family, friends, or to the PHUMC Permanent Endowment Fund as part of your estate plan. If you do not designate the endowment fund it will go into the Trustees.

 

A bequest may be made in several ways:

• Gift of a specific dollar amount or asset (cash, appreciated securities, real estate, tangible personal property, closely held stock)
• Gift of a percentage of your estate
• Gift from the balance, or residue, of your estate

Retirement assets, such as an IRA account, also makes an excellent bequest. By designating PHUMC Permanent Endowment Fund as the beneficiary of all or part of your IRA on the beneficiary designation form provided by the IRA custodian, the full value of the gift is transferred tax-free at your death and your estate receives an estate tax charitable deduction.

 

For more information, contact your financial advisor or attorney. You may also check the Florida United Methodist Foundation website to learn more.

 

 

Gift Annuities

Charitable Gift Annuities are among the most popular planned gifts. Under the terms of the gift annuity agreement, the donor makes a gift to the church or related organization. During the year the gift is made, the donor receives a charitable income tax deduction. For the term of the agreement, the donor receives regular annuity payments, based on the donor’s age and the dollar amount of the gift.

 

For more information, contact your financial advisor or attorney. You may also check the Florida United Methodist Foundation website to learn more.

 

 

Charitable Trusts

Charitable trusts provide donors a wide array of options. Similar to a gift annuity, a charitable remainder trust provides an income benefit to the donor or others, as well as a way to make a gift to a church or related institution. A charitable lead trust provides income for the donor’s church for a period of time while retaining the asset for the donor’s family. The Florida United Methodist Foundation, which manages the investments in the PHUMC Endowment Fund, is legally authorized to serve as the trustee for trusts that benefit United Methodist Churches.

 

For more information, contact your financial advisor or attorney. You may also check the Florida United Methodist Foundation website to hearn more.

 

Donor Advised Funds

Donor advised funds enable donors and their families to practice philanthropy on a regular basis. The donor sets up a fund, managed by the Florida United Methodist Foundation. Each year, the donor advises the Foundation where, when, and how the funds should be distributed. Depending on the wishes of the donor, payouts may be made from interest only or from principal. The fund is like a family trust that allows parent to teach their children about charitable giving. It can continue for several generations, or be terminated on the death of the original donor.

 

For more information, contact your financial advisor or attorney. You may also check the Florida United Methodist Foundation website to learn more.

 

 

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Need more information?

Please contact Dawn Taylor, the Finance Manager, at  727-683-2603. Copies of the Permanent Endowment Fund Agreement and Gift Acceptance Policy are also available in the church office.

 

The Florida United Methodist Foundation (FUMF) provides information on their website (www.fumf.org/services/endowment-services)

 

Note: Neither the author, the publisher, nor this organization is engaged in rendering legal or tax advisory services. For advice and assistance in specific cases, the services of an attorney or other professional advisor should be obtained. The purpose of this website is to provide accurate and authoritative information of a general character only.