The Legacy Fund
THE LIVING FAITH
LEGACY FUND
The Legacy Fund is an instrument of Living Faith Anglican Church to support the fruitful future of our congregation. We want to see the faithful witness of Living Faith continue for decades and centuries to come, and the Legacy Fund is an important part of ensuring that future.
Gifts to the Legacy Fund exceed the donor's usual tithes, offerings, and contributions to Living Faith. The Legacy Fund is separate from the General Fund and under the Finance Committee's management per the Vestry's guidelines and policy. The Finance team invests monies to grow the Fund for future use. Up to 5% of the Legacy Fund may be used each year for Living Faith sponsored purposes related to the church's overall ministry health and growth. Funds are not for Living Faith's operating budget.
REASON TO CONTRIBUTE
We are stewards of God's bounty – caretakers, not owners. We are given time, energy, and resources for the brief period of our lifetimes. What we do with these gifts ultimately defines the character of our lives and the depth of our spiritual understanding. A donation to the Legacy Fund ensures that what God has given us is used to help others for generations to come, particularly concerning this local congregation we know and love.
I WANT TO CONTRIBUTE
The Finance Team is here to help. To get in touch with a member of the team, use the form below.
The Finance Team will work with you (and if needed, your lawyer, financial advisor, or accountant) to assist you in making a charitable gift according to your desire and the interests of the Legacy Fund.
WAYS TO CONTRIBUTE
Anyone can give any amount to the Legacy Fund; you need not be wealthy. A $100 gift from one hundred people secures our future as much as a $10,000 donation. Gifts of all sizes strengthen the Legacy Fund and help it grow – assuring that Living Faith is better equipped for future generations and initiatives.
Gifts of many forms are welcome. Donors can use a variety of methods to make contributions to the foundation. They include:
Cash – A gift of cash is one way to realize your charitable objectives. Cash gifts usually qualify as charitable deductions for income tax purposes.
Securities – Gifts of securities can also be given and may provide tax advantages.
Bequests and Memorials – The Legacy Fund can be a beneficiary of a portion of your estate and may be deductible for income tax purposes. In addition, loved ones can make contributions, in your memory, to the Fund.
Real Estate – A gift of your real property may provide the same advantages as a gift of securities.
Life Insurance – You can transfer the ownership of an existing life insurance policy to the Legacy Fund, purchase a new contract of insurance in the Fund's name, or name the Fund as the beneficiary of a life insurance policy.
Retirement Assets – One of the easiest ways to contribute is by designating the Legacy Fund as a beneficiary of retirement funds; this allows you to access the funds during your life and benefit Living Faith upon your passing.
FREQUENTLY ASKED QUESTIONS
Q. Who may contribute to the Legacy Fund?
A. Anyone may contribute whether they are a member, regular attender, friend of our church, or a part of the public.
Q. Does the Legacy Fund affect my General Fund giving?
A. No, your General Fund giving supports the current ministries of the church and should not be affected by over and above gifts to the Legacy Fund.
Q. How is the Legacy Fund different from me making a designated gift to our church?
A. A designated gift is a current gift for a specific present purpose. A donation to the Legacy Fund is to support our church's future ministry, trusting in our then Rector, Vestry, and Finance Team to determine appropriate distributions while maintaining and growing the Fund.
Q. Is the Legacy Fund a foundation?
A. No, a foundation is a separate corporate entity with its own board of directors and acts separately and apart from the church. There are advantages and disadvantages to a foundation. At this time the leadership of our church believes the disadvantages outweigh the advantages. We do not preclude creating a foundation sometime in the future.
Q. What kinds of things would the fund be used for in the future?
A. Because we do not know what the future holds, it is important for our future leadership to have the flexibility to determine how distributions from the Legacy Fund will be used. So, without making predictions about how funds will be used, some possible examples of how Legacy Fund resources could be used are: new ministry initiatives, additional outreach or mission support, leadership development, scholarships for retreats or programs, renovation of church buildings, etc.
Q. Can the Legacy Fund be used for emergency needs?
A. The primary purpose of the Legacy Fund is to protect the principal and grow it by good investment strategies and by seeking additional gifts. In this way, the Legacy Fund will last in perpetuity, providing additional support for church ministry beyond what is possible in the annual operating budget. However, an existential need that the congregation cannot currently meet may occur. Therefore, the church governing authorities may authorize a loan or up to a maximum of 5% of the Fund to be distributed to the church annually. We anticipate this will rarely, if ever, occur.