The Christian Church Foundation provides the means for an individual or family to establish a named permanent fund, the annual distribution from which can go to any congregation, region, general ministry or institution of the church, as well as shared with other qualified charities. Those endowment funds provide a way for persons to continue to support in perpetuity the ministries of the church as they choose. These endowments can be established with gifts of $1,000 or more.
Such funds also provide a way for members of the church to have flexibility as they see new opportunities during their lifetimes. These funds are administered according to the latest permanent fund gift agreement made between the donor and the Foundation.
Thus, a person can establish a named endowment fund for one purpose, can add to the fund over time in a variety of ways and can change or expand its scope.
The Christian Church Foundation holds and manages permanent funds created by Disciples for the benefit of their congregations and other ministries.
Permanent funds also can be established that will allow them to "replace" their annual pledge. Here is more about "pledge replacement gifts."
An example of a Permanent Fund
Mrs. Apple created a permanent fund with the Christian Church Foundation in 1975 with a gift of $10,000. The fund was named to honor her parents and her husband's parents.
Each year the fund is listed in the Annual Report of the Foundation and in the Year Book of the church. Mrs. Apple signed a memorandum of understanding with the Foundation indicating that the earnings each year were to go to her congregation to help send youth to camp.
In 1985, Mrs. Apple completed a gift annuity for $15,000. The quarterly payments were made to her for her lifetime. At her death the charitable remainder was added to the fund she created in 1975.
Before her death in 1990, Mrs. Apple wrote a new will providing that an additional 10 percent of her estate would go to the Christian Church Foundation to be added to the fund. Realizing that the fund would be larger than she first imagined, she also signed a new permanent fund gift agreement with the Foundation indicating that the earnings from her fund would be used for "assisting youth to attend church camp and conference, providing scholarships for youth in preparation for ministry, or for other educational or youth-related ministries of the congregation."