Grace Foundation - Frequently Asked Questions
1. What is the Grace Church Foundation?
The Grace United Methodist Church Foundation, established in 1992 as a separate legal entity, secures funding for the future mission and ministry of Grace United Methodist Church. The Grace Church Foundation has set up funds to support many ministries; children's, youth, music, domestic and international missions, education/training, facilities and other needs. Your Grace Church Foundation, through its benevolent donors, helps to ensure that the Grace United Methodist Church will be able to continue its vision for ministry in years to come.
2. How does my commitment to Grace United Methodist Church's annual giving differ from a gift to the Grace Church Foundation?
The Grace Church Foundation, through its funds, "Secures the Future" of Grace Church. The vision is the same, Gather, Grow and Go but the timing is different. While annual giving supports the operational expenses of the Church and funds the annual budget, the Foundation offers a way for the church to address needs beyond those contained in the annual budget.
Your contributions to the Foundation will allow the church to address needs of facilities, missions and ministries beyond what the annual giving will allow. As the Foundation assets grow and are distributed, the Church's missions and ministry can grow beyond the annual giving.
3. How can I donate?
You will typically hear about giving to charity through your will or trust, but there are many easy ways to remember the Grace Church Foundation in your planned giving that do not require changes to your will or trust. Making the Grace Church Foundation the designated beneficiary of your life insurance policies, 401(k), IRA, and brokerage accounts is a simple, quick, and inexpensive way to achieve your charitable goals.
Gift types vary and the Grace Church Foundation is equipped to accept all forms of assets – other types of assets include, but not limited to, real estate, personal property, and direct stock transfers. You can also review the Ways to Give material in this website. If interested, let the Grace Church Foundation know.
Our President is happy to discuss your charitable desires with you and/or your advisors. Simply complete the donor declaration to inform us of your planned gift and its desired use when it's received in the future. You may contact Scott Oats at firstname.lastname@example.org.
You can also complete the complete the donor declaration form that you can find on-line and drop if off at the church office attn: Grace Church Foundation.
4. To include Grace United Methodist Church in your plans, use our legal name and Federal Tax ID.
Legal Name: The Grace United Methodist Church Foundation
Federal Tax ID Number: 36-3912854.
5. Does Grace Church Foundation accept gifts during the life of the donor?
The Grace Church Foundation gives donors the option for charitable giving during life as well as an outlet for giving at death. Donors who give during life get to see the benefits of their gifts.
6. I have already established a will. How do I include the Grace Church Foundation in my future gift plans?
Regarding a will or trust, often times a small amendment can be made to your existing estate plan, but some circumstances require more. If your current planned gifts include the Grace Church Foundation let us know so we can fully understand your intentions. You may also see the Ways to Give materials for a more in-depth look.
7. Can I start a new fund with my own donor intent?
Yes. The Grace Church Foundation Board follows donor input to set up funds that support funding for missions, ministries, and future needs of Grace Church. Each potential gift/fund is subject to the approval of the Grace Church Foundation Board of Directors on behalf of Grace United Methodist Church.
8. What is the minimum donation?
There is no minimum donation to our general endowment funds. All gifts are welcome.
If a donor wants to establish a new fund or sub fund as referenced above, there is a minimum gift requirement of $25,000.
The Grace Church Foundation will work with donors in the design of a donor fund that fulfills their wishes while contributing to Grace Church Foundation's charge.
9. What if I change my mind?
Until the gift is made (assets transferred), it is only a declaration of intent. If your intent changes at any time, you can modify the gift. The Grace Church Foundation recognizes that donor intent changes over time and can accommodate those changes.
10. Is there any tax benefit to donating to the Grace Church Foundation or Church?
Yes. Similar to the tax benefits from annual giving to the Grace United Methodist Church and other charities, you will realize a tax savings based on your giving. The Grace Church Foundation is a tax exempt 501(c)(3) entity qualifying for deductibility. We encourage you to consult your tax advisor.