All memorial gifts should be just that — gifts.  Donors may request funds be directed to projects and specified needs identified by the congregational council.  Monies toward new projects will not be received unless approved by the council.  A donor who solely donates for the purchase of a gift, e.g., a piano, which was not requested by the council and to which other members did not have an opportunity to support, has made what the IRS would consider “a second party purchase.”  This gift may be tax deductible, however the congregation can provide the donor a receipt for the item, not for the cash donation.  Plaques and engravings need prior approval by the Memorial Committee

 THE VALUE OF SPECIAL GIFTS

 Many people choose to remember their church with gifts which are over and above their regular pledge contribution.  These “special” gifts may be in the form of cash, securities, or other property; and they may be either lifetime gifts or bequests.

 Special gifts are of great benefit to the church, for they make possible the needed programs, supplies, equipment and repairs which often cannot be financed through the annual operating budget.

 This method of giving can have special significance for donors.  In addition, tax advantages are usually inherent in both lifetime gifts and bequests.

 It is wise to seek professional counsel when planning a major gift to the church, particularly if the gift is to be a bequest.

 We remind families that gifts will be memorialized in a worship service and will be recorded in the Memorial book which is publicly displayed in the church library.

 TYPES OF SPECIAL GIFTS

 Memorials:  Contributions given directly to the church or via the family.  Acknowledgment cards are sent from the church to the family and/or donor.

Commemorative Gifts:  Monetary gifts to commemorate special occasions such as birthdays, graduations, and wedding anniversaries.

Endowment Fund:  To establish a fund where only the interest is used.

Grace Lutheran Church Scholarship Fund:  Originally established in memory of Gary Baumgartner and Carrie Pinnow, provides for students attending Lutheran colleges or seminaries.  This fund is open to anyone to contribute to as a memorial or gift to encourage someone to attend college.

Bequests:  Carefully planned gifts designed to be received by the church following the donor’s death.  The church hopes each individual will consider making a Christian will and tithe a percentage of his or her estate to the church.

Permanent Life Insurance Bequests:  This type of gift should be seen by the giver as a second form of giving to the work of the Church, not as a sole form of a stewardship of finances.  The congregation of Grace Evangelical Lutheran Church of Monroe will be named as OWNER (of said policy) and beneficiary.

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 UTILIZATION OF CASH GIFTS

 Undesignated cash gifts are used at the discretion of the Committee on Memorials.  If the donor prefers to designate a contribution for a specific use, he or she is urged to make the selection from the current Memorial Gift List.

 MEMORIAL LIST

(Revised January 28, 2013)

 Sunday School Rooms & Fellowship Hall                            

Equipment/Program Resources     

Worship Area & Supplies

Music

Office

Donations/Support                                     

Outreach/New Ministries

Leadership Development

 A permanent record of all special gifts is made in the church’s Memorial Book.

 ~ All purchases must be approved and accepted by the

   Committee on Memorials under the direction of the

   Church Council.

 ~ All bequests and estate giving will be received by the Church Council and distributed as council deems  

   appropriate.  Following are the Guidelines for Allocation of Un-designated Bequests (approved 9/11/2000) :

 10% tithe for program/ministry outside the congregation, designated by Church Council.

 40% use for current (operational purposes) needs within the church budget. (Could be used for budgeted “wish list” if current with bills.)

 50% long-term fund (Endowment Fund.) After endowment is established, use interest earned each year for budgeted or unbudgeted. Principle of fund can only be used for emergency purposes, for operation of the church. Only 50% of principle can be taken at any given time.

 ~ All special gifts will be announced and dedicated on  All Saint’s Sunday of that year.

 ~ It is part of good stewardship of our lives to have a will. This makes your life’s assets continue to work as you wish them to.  Don’t forget your church in your will.

 For more information contact the church office:

(608) 325-9172