First Baptist Church of Columbia
Thursday, October 23, 2014
 
What Is An Endowment? What Is A Donor Designated Fund?
An endowment is a designated gift that is created by a written agreement between a donor and the church which requires the church to only use the income created from the investment of the gift for the purpose defined by the donor in the agreement.
 
What Is The Difference Between An Endowment, A Donor Designated Fund & A Regular Gift?
In an endowment, the amount of the gift is invested and only the income received can be spent for the purpose defined by the donor in the agreement. Although the full amount of a regular contribution can be used immediately, it can only be spent once. With an endowment, the original amount of the gift produces income to be used until the Lord returns.
 
A donor designated fund is also a contribution to the church. Its use is likewise governed by a written agreement between the donor and the church. However, since it is not defined as an endowment, the use of the original gift and the income from that gift may be used as the donor specifies in the agreement.
 
Generally speaking, a regular gift to the church as opposed to endowments or donor designated funds are undesignated and may be spent when and how the church determines to be in the will of the Lord.

Why Create An Endowment or A Donor Designated Fund?
Endowments are generally created when large gifts are given and the donor wishes to specifically define and best determine the use of the proceeds of the gift through the written agreement. They are also created by individuals who realize that using an endowment can actually increase the total amount of their gift over time.
 
What Are The Advantages Of Endowment & Donor Designated Funds?
Endowments represent good financial stewardship because they are gifts that “keep on giving” until the Lord returns. After several years (depending on the rate of earnings received), the total amount of earnings used in the ministry will exceed the original amount of the gift which still remains invested and continues to create more earnings. Also, using income from endowments allows the church to use regular contributions for other ministry purposes, thereby multiplying the effectiveness of the Lord’s resources. Likewise donor designated funds represent wise stewardship that extends beyond a single year.

What Types Of Endowment & Donor Designated Funds Does FBC Have?
We have honorary endowments and goal oriented endowments. Honorary endowments and donor designated funds are created by the donor to usually honor the memory of a deceased loved one and to continue the giving history of that individual even after they are with the Lord.
 
Goal-oriented endowments are created by the church itself to help meet a specific ministry need of the entire church. They usually have a specific dollar amount that has been determined as necessary to produce the required income to meet each need for which they were created.
 
How Can I Contribute to an Existing Fund or Establish a new one?
You may add to an existing fund simply by forwarding a check to the church attention the Business Administrator. All contributions are tax deductible and will be added to the fund designated. If you would like to establish a new fund please contact the Business Administrator (803-343-8581) who will assist you in the process. New accounts created through the Baptist Foundation of South Carolina require a $10,000 minimum to establish. Contributions can be accumulated through the church until this minimum amount is reached.
 
 
Opportunities
Creating or adding to an existing endowment or donor designated funds can honor a loved one or perpetuate your history of giving even after you have gone to be with the Lord.
The following honorary endowments and donor designated funds have been created by FBC members. Additional contributions of any amount may be made to any of these funds. The income from your contribution will be used according to the purpose for which each fund was established as stated below.
 
 
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OUR ENDOWMENTS
Sara M. Allen Endowment Flower Fund
Earnings from this endowment are to be credited to the Flower Fund of the church.

Dayton Anderson Volunteerism Endowment Fund
To provide income for the enhancement and perpetuation of the Volunteer Maintenance Program at FBC and to recognize and honor the contribution of Dayton Anderson in establishing and maintaining this ministry.

FBC Columbia Cooperative Program Endowment
The income to the cooperative program.
 
Priscilla M. (Perky) Foster Memorial Scholarship Fund
Income from this endowment is to be used solely to provide scholarships for needy young people who participate in the youth ministry of this church in order for them to attend youth camps and/or retreats.
 
Ruby B. Hatcher International Missions Endowment
To provide funds for international missions and mission trips for FBC members.
 
Louise Huggins Endowment
To provide scholarships for prospective seminary students or for world missions, such funds to be used for the propagation of God’s Word through world missions and evangelism. Income from this endowment is being used to provide scholarships to FBC members to educationally prepare themselves for vocational Christian service.
 
Lucille C. McGibony Endowment
Loye E. Nations Endowment

Income to be used for the general budget of the church.
 
Mary O. Nations Endowment
To be used by the church to operate a mission or preaching and teaching station (church planting).
 
Anne Wallace Endowment
To provide funds for FBC members participating in national and international mission projects.
 
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OUR DONOR DESIGNATED FUNDS

Jean Rinehardt Bridges OASIS Donor Designated Fund
To provide additional income for speakers and musical programs for the senior OASIS Fellowship Ministry to honor the memory of Mrs. Margaret E. Rinehardt.
 
Bill & Nezza Howard Missions Donor Designated Fund
To provide funds for FBC members participating in national and international mission projects.
 
The Charles E. Sampson Donor Designated Fund
To provide funds for the next 10 years for the Lottie Moon Foreign Missions Offering, the International Ministry Department of our church and for other international missions and international ministry activities supported by our church.
 
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OUR TRUST FUNDS
Inez Clark Eddings Trust
To provide financial aid primarily to members of FBC who are under hardship stress and in need of immediate
financial assistance. Contributions from the income of this endowment are credited to the Benevolence Fund. Distributions from the Fund are made by the Benevolence Committee of the church on an as-needed basis.
 
First Baptist Church Columbia, SC Charitable Trust
The church’s 501(c)(3) charitable trust. It is the umbrella which allows the establishment of the other endowments.
 
 
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OUR GOAL ORIENTED ENDOWMENTS
Contributions to the following church adopted goal-oriented endowments are also encouraged.
First Baptist Church Columbia, SC Media and Communications Endowment
Goal: $2,000,000
Purpose Established: Earnings from this endowment will be used for the television ministry.
 
First Baptist Church Columbia, SC Facilities Maintenance Endowment
Goal: $1,000,000
Purpose Established: Earnings from this endowment will be used for periodic maintenance needs of the buildings and grounds of the church. Contributions to these goal-oriented endowments may be made by cash or by deferred giving opportunities such as purchasing a charitable gift annuity (CGA) or by direct bequests to the church in your will or estate plan.