Parker UMC Permanent Endowment Fund
The PUMC Permanent Endowment Fund was established with gifts to the church to be permanently set aside to provide income that can help the church reach its goals. The principal of gifts to the Endowment is not used; it is invested to generate income to achieve either specific purposes (such as the Scholarship Fund or the Stroh Fund), or to assist the church in missions or other purposes, as determined by the Endowment Committee. The income cannot be used for normal operating expenses of the church. The Endowment differs from other kinds of Memorial Gifts in this way: Gifts that are made in memory of someone, or through a general bequest to the church (without specifying allocation to the Endowment Fund) may be used to achieve their purposes. The Endowment, on the other hand, preserves principal so that income can be generated in perpetuity. A strong endowment can assist the church in weathering downturns in the economy.
Because of the foresight of members of PUMC, a fund was created that has preserved principal, experienced modest growth, and over the past 20 years has benefitted the church by about $300,000 in total distributions! The Endowment Fund can continue to assist the church with extraordinary needs that are not part of the general operating budget. However, we can do much more! We have a vision to increase the Endowment Fund to a point where the earnings can make a significant difference in the life of our church, as opposed to mostly reacting to emergency needs. We could do much more with mission projects, community outreach, fine arts, child and adult education, and to create a source of financial security in the face of the next economic downturn.
The PUMC Permanent Endowment Fund was started in 1996 and is comprised of three separate funds: The Miller Scholarship Fund, the General Fund and the Stroh Fund. The Miller Scholarship Fund was given to PUMC in the mid-1980s with $11,000 to provide scholarships for youth, and became part of the Endowment Fund in 1996. The “general fund” was initially created with aggregate gifts totaling about $85,000. The Stroh Fund was created as a separate fund when the church’s parsonage was sold in 2001 for $304,000.
As of July 31, 2017, the value of the Scholarship Fund was $12,705.64; the General Fund was $97,091.36; and the Stroh Fund was $369,253.47, for a total value of $479,050.49. Distributions totaling $40,200 have been made so far in 2017 for the new piano, carpeting for the children’s classrooms, a new gutter and scholarships.
Income from the Scholarship Fund is used to provide scholarships for High School Seniors who are going on to an institution of higher education, and who were active in PUMC youth. In 2016 and 2017, scholarships of $500 each were granted to students who submitted applications. Total Scholarships have been awarded in the amount of $18,300 through 2017. For more information on the scholarships, and to print off application forms or review eligibility rules, please [click here].
General Fund. Income from the General Fund is used from time to time as determined by the Endowment Committee, upon requests from other Church committees. Most recently, funds were used for the new piano in the sanctuary. Total distributions from the general fund earnings through 2017 have totaled about $77,200. For more information on the General Fund, please [click here].
Income from the Stroh Fund must be used solely for capital improvements (a requirement in the United Methodist Book of Discipline), and has been used for drainage projects, sealing of the outside of the church, work on the roof, replacing the air conditioning units, drainage landscaping, and electrical and acoustic improvements. In 2017 funds were distributed to install gutters on the church roof, and to replace carpeting in the children’s classrooms. Total distributions through 2017 are approximately $195,000. For more information on the Stroh Fund, please [click here].
In 2016, we contracted with Vehicles for Charity to facilitate vehicle donations to the church, and received our first donation in the fall. The Endowment Committee voted to allocate contributions from vehicle donation initially to the Scholarship Fund, to build up the principal so that more scholarships can be made available to PUMC youth. Simply call 1-866-628-2277, mention Parker United Methodist Church, and Vehicles for Charity will take care of the rest.
In terms of what you can donate it is most any vehicle including trucks, cars, boats, motorcycles and recreational vehicles. They do not have to be running. Your vehicle will be sold at an auction or to salvage depending on condition. The donation is tax deductable.
In order to donate a car you must have a title in your name.
Picking up the car is done by a towing company (1-866-6282277) within two to three business days so be prepared to provide a physical address for the pick up. You must have a set of keys and the title for the car at the time of pick up. You do not have to be with the vehicle if you make special arrangements. The tow truck driver will issue a tow receipt at the time of pick up. This is not your final tax receipt unless the sale of your vehicle does not exceed $500.
The value of your car is determined when the vehicle is sold at the auction. If the car sells for less than $500 you may deduct the full $500. If your vehicle sells for more than $500 you will need to include the IRS form 1098C with your tax return. You will be supplied this documentation after your vehicle sells.
Paperwork needed – none other than the title.
Donations may be made in a number of ways.
- The three Endowment Funds are listed on the online donation page on the church website.
- To donate your vehicle, simply call 1-866-628-2277, mention Parker United Methodist Church, and Vehicles for Charity will take care of the rest. Click [here] for more information.
- If you write a check, make it payable to “Parker United Methodist Church Endowment Fund.” If no specific fund is indicated, it will be added to the General Fund.
- Gifts other than cash may also be made, including transfers of stock, artwork or real property.
- Gifts of life insurance may be made either by listing “Parker United Methodist Church Endowment Fund” as the beneficiary, or assign ownership to Parker United Methodist Church.
- Gifts of IRAs, 401(k)s, tax-deferred annuities or other retirement plans may also be made by listing Parker United Methodist Church Endowment Fund as the beneficiary.
- Individuals at least age 70 ½ may transfer up to $100,000 each year directly from an IRA to “Parker United Methodist Church Endowment Fund.” This direct IRA payment is now “permanent” in the Internal Revenue Code
- Consider including a gift to “Parker United Methodist Church Endowment Fund” in your Will or Revocable Trust.
- Click [here] for more information about estate planning and charitable donations.
The Endowment Committee generally meets every other month on the fourth Tuesday of the month, and oversees the investment of the funds. At this time, we make socially responsible investments through the Rocky Mountain United Methodist Foundation using an asset allocation to balance investment return and capital preservation. If you have any questions about the fund, please feel free to contact any members of the Endowment Committee: Randy Jessen, Laurie Hunter, Randy Hill, Wilson Groen, Steve Sumption, Chris Ambors, Deb O’Neill, Dan O’Neill and Jack Kear.