UMCoW Endowment Fund
Our Endowment Fund is sending the message that…
• we believe in the future of this church.
• we should be guided in our stewardship by the belief that all we have is a trust from God.
• we want to build a sense of permanence in what we do.
• we want to provide services and programs that formerly were only dreams.
• we want to perpetuate a heritage that future generations can celebrate as joyfully as we celebrate our rich heritage today.
What Does The Endowment Fund Do?
The Endowment Fund is a permanent fund from which only the earnings may be used to support the ministry of the church as stated in the Endowment Fund Policy. The Fund provides a way for members and friends of the United Methodist Church of Wellsboro to provide financial support for the ministry and mission of the church today and for years to come.
How Did Our Endowment Fund Get Started?
The August 1998 Church Council Report includes the Finance Committee Report as prepared by then Chairperson, Fred Delaney. Phyllis Bowers of the Stewardship Foundation of Central Pennsylvania had visited the Finance Committee on June 8. Fred’s report reads, “It was suggested by Phyllis Bowers at the June 8 meeting that we should seriously consider establishing an Endowment Fund to receive and administer undesignated bequests that may over time come our way. Coincidentally, we have recently received $778.58 from the estate of E. Jane Olmsted. It the recommendation of this committee that we formally establish an Endowment Fund to benefit the United Methodist Church of Wellsboro and that this fund be established through the Conference’s Stewardship Foundation using our current balance of approximately $572 in a Conference Investment Fund Account as seed.”
At that August meeting, the Church Council recommended that an Endowment Fund Task Force be formed to create an Endowment Fund Policy Agreement for the purpose of receiving and administering undesignated bequests to the church. That task force met with advisors from the United Methodist Stewardship Foundation of Central Pennsylvania and at their direction and guidance formulated the Endowment Fund Policy. The policy was formally adopted at the November 1998 Annual Church Conference.
Who Is On The Endowment Fund Committee?
The Endowment Fund Committee is composed of 12 members. By virtue of their positions, the Pastor, Lay Leader, Church Treasurer, and Financial Secretary are members. The Chairperson or someone designated from the Church Council, the Board of Trustees, the Finance Committee, the Staff Parish Relations Committee and the Christian Education Committee all serve on the Endowment Fund Committee. The remaining three positions are three (3) members-at-large recommended by the Finance Committee, nominated by the Committee on Nominations and elected at the annual Charge Conference. The Endowment Fund Committee meets as necessary to review the quarterly financial reports from the Stewardship Foundation and to discuss how the income should be disbursed for religious, educational and charitable purposes with particular emphasis on extending the life and mission of the United Methodist Church of Wellsboro.
Who Manages The Endowment Fund?
The Endowment Fund is deposited with the United Methodist Stewardship Foundation of Central Pennsylvania, located in Mechanicsburg, PA. The Stewardship Foundation was established in 1994 by the Central Pennsylvania Conference to provide churches with professional management of financial resources. The Endowment Fund Committee reviewed three possible options to invest our money: a Growth Investment Fund, a Balanced Investment Fund, and an Income Investment Fund. After reviewing financial statements and annual reports from the Stewardship Foundation the committee chose to invest our funds in the Balanced Investment Fund which has 55% in stocks and 45% in bonds.
What Will Income From The Endowment Fund Be Used For?
Any member or committee within the United Methodist Church of Wellsboro may submit proposals for use of income from the Endowment Fund to the Endowment Fund Committee. The committee will meet to discuss the proposal(s) and then make a recommendation to the Church Council as to how the earnings should be disbursed. The Church Council will review the recommendation from the Endowment Fund Committee and then vote for approval or disapproval. Past earnings have established a Training & Spiritual Growth Development Scholarship which makes scholarships available to any member of our church who would like to attend a training and/or spiritual growth seminar and earnings have provided CD players for our Sunday school classrooms. Most recently, earnings were used to establish Internet access for the church office and purchase Walkie-Talkies for communication between childcare providers and the ushers during Sunday morning worship service.
Why Have an Endowment Fund?
It tells people that the church is here to stay! The Endowment Fund was established to provide a way for people to make long-term gifts for the church's benefit now and for the future. Gifts to the Endowment Fund will be carefully invested to provide income for the United Methodist Church of Wellsboro's people and programs that otherwise might not be possible. Long after the expenditure of other gifts has been forgotten, endowment funds provide an annual reminder of the faith and witness of our donors.
Does the Endowment Fund Replace the Memorials Committee?
Absolutely not! The Memorials Committee continues to receive memorials for such occasions as the birth of a child, baptism, a wedding or other gesture of thanks or remembrance at the time of the death of a member. Often, when a loved one dies, the immediate family chooses to designate memorial gifts for a particular project.
How May I Make a Gift to the Endowment Fund?
Gifts can be made now, during your lifetime, or as a bequest in your Will. Gifts may be comprised of cash, stocks or bonds, or other kinds of property. It is important to remember that your gift can make a difference. Gifts of all sizes come together to support the special programs and missions of our church.
What is the difference between a designated and undesignated bequest?
When someone leaves a gift to the church and they do not specify where the money is to be spent, that is an "undesignated" gift. The Endowment Fund was established to accept undesignated bequests to the United Methodist Church of Wellsboro and to preserve their principal in perpetuity. Only the annual earnings are used to support special programs and needs above and beyond the regular funding ministry.
May I designate how my gift to the United Methodist Church of Wellsboro be used?
Absolutely! You may direct your gift be used for a particular project (a Memorial Gift), or for a particular line item in the current funding ministry (i.e., to go towards the heating bill). However, if you would like to think of your gift being used now AND in the future, consider giving to one or all of our endowment funds. In your Will, you may direct that your gift be used in several ways. (1)You may desire all or some of your gift go into the General Endowment Fund where the earnings will be used for special needs and ministries beyond the regular funding ministry. (2) You may decide to give all or some to the Brownell Youth Fund where earnings are used to support the youth ministry of our church. (3) You may decide to give some or all to the Trustees Fund where earnings are used for major repair and maintenance to the church building. Remember, if you do NOT designate or specify where your gift to the United Methodist Church of Wellsboro is to be used, then it will automatically be directed into the General Endowment Fund.
For further information regarding the Endowment Funds, please contact Pastor Mark Shover at 724-1968 or Carolyn Honeyfield, chairperson of the endowment fund committee, at 724-2792.
• we believe in the future of this church.
• we should be guided in our stewardship by the belief that all we have is a trust from God.
• we want to build a sense of permanence in what we do.
• we want to provide services and programs that formerly were only dreams.
• we want to perpetuate a heritage that future generations can celebrate as joyfully as we celebrate our rich heritage today.
What Does The Endowment Fund Do?
The Endowment Fund is a permanent fund from which only the earnings may be used to support the ministry of the church as stated in the Endowment Fund Policy. The Fund provides a way for members and friends of the United Methodist Church of Wellsboro to provide financial support for the ministry and mission of the church today and for years to come.
How Did Our Endowment Fund Get Started?
The August 1998 Church Council Report includes the Finance Committee Report as prepared by then Chairperson, Fred Delaney. Phyllis Bowers of the Stewardship Foundation of Central Pennsylvania had visited the Finance Committee on June 8. Fred’s report reads, “It was suggested by Phyllis Bowers at the June 8 meeting that we should seriously consider establishing an Endowment Fund to receive and administer undesignated bequests that may over time come our way. Coincidentally, we have recently received $778.58 from the estate of E. Jane Olmsted. It the recommendation of this committee that we formally establish an Endowment Fund to benefit the United Methodist Church of Wellsboro and that this fund be established through the Conference’s Stewardship Foundation using our current balance of approximately $572 in a Conference Investment Fund Account as seed.”
At that August meeting, the Church Council recommended that an Endowment Fund Task Force be formed to create an Endowment Fund Policy Agreement for the purpose of receiving and administering undesignated bequests to the church. That task force met with advisors from the United Methodist Stewardship Foundation of Central Pennsylvania and at their direction and guidance formulated the Endowment Fund Policy. The policy was formally adopted at the November 1998 Annual Church Conference.
Who Is On The Endowment Fund Committee?
The Endowment Fund Committee is composed of 12 members. By virtue of their positions, the Pastor, Lay Leader, Church Treasurer, and Financial Secretary are members. The Chairperson or someone designated from the Church Council, the Board of Trustees, the Finance Committee, the Staff Parish Relations Committee and the Christian Education Committee all serve on the Endowment Fund Committee. The remaining three positions are three (3) members-at-large recommended by the Finance Committee, nominated by the Committee on Nominations and elected at the annual Charge Conference. The Endowment Fund Committee meets as necessary to review the quarterly financial reports from the Stewardship Foundation and to discuss how the income should be disbursed for religious, educational and charitable purposes with particular emphasis on extending the life and mission of the United Methodist Church of Wellsboro.
Who Manages The Endowment Fund?
The Endowment Fund is deposited with the United Methodist Stewardship Foundation of Central Pennsylvania, located in Mechanicsburg, PA. The Stewardship Foundation was established in 1994 by the Central Pennsylvania Conference to provide churches with professional management of financial resources. The Endowment Fund Committee reviewed three possible options to invest our money: a Growth Investment Fund, a Balanced Investment Fund, and an Income Investment Fund. After reviewing financial statements and annual reports from the Stewardship Foundation the committee chose to invest our funds in the Balanced Investment Fund which has 55% in stocks and 45% in bonds.
What Will Income From The Endowment Fund Be Used For?
Any member or committee within the United Methodist Church of Wellsboro may submit proposals for use of income from the Endowment Fund to the Endowment Fund Committee. The committee will meet to discuss the proposal(s) and then make a recommendation to the Church Council as to how the earnings should be disbursed. The Church Council will review the recommendation from the Endowment Fund Committee and then vote for approval or disapproval. Past earnings have established a Training & Spiritual Growth Development Scholarship which makes scholarships available to any member of our church who would like to attend a training and/or spiritual growth seminar and earnings have provided CD players for our Sunday school classrooms. Most recently, earnings were used to establish Internet access for the church office and purchase Walkie-Talkies for communication between childcare providers and the ushers during Sunday morning worship service.
Why Have an Endowment Fund?
It tells people that the church is here to stay! The Endowment Fund was established to provide a way for people to make long-term gifts for the church's benefit now and for the future. Gifts to the Endowment Fund will be carefully invested to provide income for the United Methodist Church of Wellsboro's people and programs that otherwise might not be possible. Long after the expenditure of other gifts has been forgotten, endowment funds provide an annual reminder of the faith and witness of our donors.
Does the Endowment Fund Replace the Memorials Committee?
Absolutely not! The Memorials Committee continues to receive memorials for such occasions as the birth of a child, baptism, a wedding or other gesture of thanks or remembrance at the time of the death of a member. Often, when a loved one dies, the immediate family chooses to designate memorial gifts for a particular project.
How May I Make a Gift to the Endowment Fund?
Gifts can be made now, during your lifetime, or as a bequest in your Will. Gifts may be comprised of cash, stocks or bonds, or other kinds of property. It is important to remember that your gift can make a difference. Gifts of all sizes come together to support the special programs and missions of our church.
What is the difference between a designated and undesignated bequest?
When someone leaves a gift to the church and they do not specify where the money is to be spent, that is an "undesignated" gift. The Endowment Fund was established to accept undesignated bequests to the United Methodist Church of Wellsboro and to preserve their principal in perpetuity. Only the annual earnings are used to support special programs and needs above and beyond the regular funding ministry.
May I designate how my gift to the United Methodist Church of Wellsboro be used?
Absolutely! You may direct your gift be used for a particular project (a Memorial Gift), or for a particular line item in the current funding ministry (i.e., to go towards the heating bill). However, if you would like to think of your gift being used now AND in the future, consider giving to one or all of our endowment funds. In your Will, you may direct that your gift be used in several ways. (1)You may desire all or some of your gift go into the General Endowment Fund where the earnings will be used for special needs and ministries beyond the regular funding ministry. (2) You may decide to give all or some to the Brownell Youth Fund where earnings are used to support the youth ministry of our church. (3) You may decide to give some or all to the Trustees Fund where earnings are used for major repair and maintenance to the church building. Remember, if you do NOT designate or specify where your gift to the United Methodist Church of Wellsboro is to be used, then it will automatically be directed into the General Endowment Fund.
For further information regarding the Endowment Funds, please contact Pastor Mark Shover at 724-1968 or Carolyn Honeyfield, chairperson of the endowment fund committee, at 724-2792.