Foundation Distributes $7.2 Million in '12
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Gifts made through the Christian Church Foundation distributed $7.2 million to Disciples-related ministries and other charities in 2012.
Permanent funds, which support donor-selected Disciples ministries, accounted for $4.8 million of the Foundation’s distributions. The Foundation manages 1,300 of these named legacy funds, funded by their donors with gifts ranging from $1,000 to several million dollars.
“This was a tremendous year for the church’s Foundation,” said the Rev. Gary W. Kidwell, Foundation president, noting $8.2 million was given in new permanent fund gifts, primarily from donors’ estates and legacy congregations. Congregations facing the conclusion of a faithful “bricks and mortar” ministry may, like their members, use the Foundation’s services to extend their ministry for generations to come.
“These permanent fund gifts, the largest the Foundation has received in more than 10 years, convey the faith Disciples have for the future of the church,” Kidwell said. “These gifts are expressions of the love and trust Disciples have for the ministries of the church, and serve as tangible expressions of the donors’ faith witness and commitment to the Gospel.”
New life-income gifts, donor-advised and donor-directed gifts totaled $2.0 million in 2012. Distributions from these gifts totaled $2.4 million during 2012. Life-income gifts, which can provide a steady annuity payment for older donors, leave a residual gift for donor-selected ministries when the life-income payments terminate.
The Foundation also helps congregations and other church-related institutions promote and faithfully steward their endowment assets. During 2012, the Foundation received $29.4 million in subject-to-withdrawal deposits. These deposits, coupled with strong investment returns, allowed the Foundation to end 2012 with $325.6 million in subject-to-withdrawal accounts. Income from these investments produces resources for the growth and witness of these ministry partners, with distributions from these investments determined by the account owners.
Excellent market performance, coupled with generous giving and new Disciples investors, allowed the Foundation to close 2012 with $501.7 million in assets, the most in the Foundation’s 51-year history. The 2012 audited financial statements can be found here.
“The visionaries who planted the seeds for this ministry in the early 1960s, were confident that we would grow and bear great fruit for this, and future, generations in the Christian Church (Disciples of Christ). We celebrate their vision for our church as we mark this important milestone” said Kidwell.
Dollars distributed to Disciples ministries and other charitable causes, according to donors’ instructions, were:
The Christian Church Foundation is a general ministry of the Christian Church (Disciples of Christ) with the mission of undergirding ministry through permanent funds, planned gifts and prudent investment of funds owned by Disciples ministries. It is a donor-directed Foundation designed to benefit Disciples ministries and institutions.
(Release date: March 4, 2013)