On March 19, 2002, Session approved and established a separate fund to be known as the Legacy of Faith Endowment Fund of the First Presbyterian Church of Washington, NC. It is a permanent fund with income only to be spent once the fund reaches a value of $100,000.
Why Have an Endowment Fund?
Giving an endowed gift allows your faith and your good stewardship of what God has given you to reach beyond your lifetime. You will participate in God's work along with future generations. Because it is a permanent fund, it will fuel the future for projects not possible within the limits of the annual operating budget.
How Will Funds be Used?
The Fund accepts only undesignated gifts. The income will be available for local, national and world-wide missions; church physical properties; and/or education and worship. If you are interested in donating a restricted gift, please discuss it with the committee or pastor to assure the gift can be used as you wish. Once the Endowment reaches its $100,000 base value, any member of the congregation may submit proposals for funding projects to the committee by March 15 of each year. The request should make the case for how it enhances the mission of the church and include details of the project such as costs, timing, how it is to be accomplished, etc.
How Can You Be Part of This Program?
Through cash contributions (please indicate Legacy of Faith on your gift):- By making a gift in memorial or in honor of a loved one;
- By making a gift of securities;
- By contributing real property;
- By naming the church as the beneficiary of a life insurance policy or other asset such as an IRA;
- By arranging for a gift in trust, naming a beneficiary for his or her lifetime, and then have the remainder pass to the church upon the death of the beneficiary;
- By including the church by bequest in your will;
- By setting up a charitable gift annuity, providing a guaranteed income during your life, with the church as beneficiary.
How Do You Get More Information?
- Call the church office (252-946-4616) to arrange a meeting with the pastor or any member of the Planned Giving Committee
- Call the Presbyterian Foundation (Rev. John Pilutti at 888-800-1914). This is especially useful when setting up a trust.
Updated 6/06