What is the Endowment Fund?
The Endowment Fund has been a quiet mission at MPPC slowly doubling in size since its inception in 2002. The Endowment fund gives a small percentage of earnings back to the church annually and the principal is only touched is case of a catastrophic disaster. The larger the Endowment grows, the larger the annual gift back to the church is. The mission is to further the spiritual and charitable purposes of our church.
Gifts made to the Endowment Program will be fruit for generations to come.
It is a gift that keeps on giving— your legacy of faith.
How does the Endowment fund work?
The fund is a brokerage account worth about $1M and functions in two main ways:
- Annually, a small percentage of the earnings is distributed back to the church to support Christian Education, Worship and Music Ministry, Mission and or Capital Improvement
- For the future, it not only protects the church in case of a catastrophic disaster, but as the account grows, it provides more income back to the church.
Why give money to the Mount Pleasant Presbyterian Church Endowment Fund?
First, to advance the purposes for which the Endowment Fund was established: to provide members and friends of MPPC and opportunity to acknowledge and express their gratitude for the countless blessing they have, by grace received. Also, to enhance and supplement the financial resources of MPPC beyond the normal operating budget for charitable, benevolent, and educational purposes, as well as unforeseen emergencies of the Church. It provides an opportunity for a member to make a continuing gift to a designated church program from the income earned by the gift for many years after the members death.
You have the wonderful chance to provide the means for the church to have a strong and empowering ministry for generations to come. That’s what the Endowment Fund is about. Genesis 26:17-25 “And Issac dug again the wells of water which had been dug in the days of Abraham his father…” You have drawn water from wells you have not dug, you have sat under shade trees you did not plant. This is an opportunity for you to provide shade and water for the next generation.
Long time church members Mac and Donna Thigpen have the church listed in their estate documents. Here is why they did it:
“The reason Mac and I listed the church in our estate documents is simple – we love MPPC and feel like it served as a wonderful foundation for raising our family. We still spend a lot of time at church now that our kids are grown and consider it our second home. Our church family has supported us in good times and bad and we wanted a tangible way to show our appreciation for all the blessings we have received through the years.”
If I want to make a gift to the Endowment Fund through my Will, or Revocable Trust, do I need to re-write my estate planning documents?
No. If you have a Will, you can simply execute a codicil which acts as an amendment to your present Will, or if you have a Revocable Trust, you can simply execute an Amendment to that document.
How do I make a gift at my death from my IRA account or insurance policy?
You would simply complete a new beneficiary form which you would get from the institution that holds your IRA account.
Can I cancel my gift to the church?
Absolutely – you would just need to update your estate documents or your beneficiary form.
I would like to make a gift to the Endowment Fund, but unsure if I should make the gift during my lifetime or at my death. What are the pros and cons?
There are tax advantages to both ways of doing it. We recommend you talk to your Estate Attorney, CPA, or Financial Advisor to help you decide what is best for you and your loved ones.
What is the proper name and address of the Endowment Fund?
Mount Pleasant Presbyterian Church Endowment Fund, 302 Hibben Street, Mount Pleasant, SC 29464. Some forms may require the church’s Federal tax identification # which is 57-0528685
“And God is able to provide you with every
blessing in abundance so that by always
having enough of everything, you may share
abundantly in every good work.”
2 Corinthians 9:8