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Why focus on congregational endowments now?
First, because of a departure from past thinking about the wisdom of such endowments.
Second, because the next two decades represent particular challenges and stewardship opportunities.
These are challenges and opportunities, this proclamation of the gospel will be strengthened not only to the present but more importantly to succeeding generations.
And, we and our churches need that added strength as never before, for our world is sorely in need of the reconciliation and love which comes through the grace of our Savior.
Recognizing Tensions and Fears
The Endowment Program of the General Assembly began in 1836 when trustees were elected to hold and manage bequests from persons in East Tennessee and Louisiana for the benefit of the larger Church. Overwhelmingly, endowments created through succeeding bequests and gifts have been for program and institutional support above the congregational level.
To be sure, there are congregations who have endowments and many are invested and managed locally, but one indicator of the lack of emphasis on this area of giving is that in 1992 endowments for the support of congregations represented only 2.7% of the total corpus of the Board's Endowment Program. Since the added emphasis in this area of financial stewardship began in 1992, there has been improvement. By year end 2006, the percent of the corpus represented by congregational endowments had risen from 1992's 2.7% to 7.1%.
The first big reason for this continued low level of emphasis on congregational endowments is the tension between savers focused on the long term and spenders focused on immediate needs.
In fact, Christian stewards experience this tension between savers and spenders not only as a part of group decision-making but as an internal challenge in coming to personal decisions about giving. Both viewpoints are valid and needed! Remembering this truth and respecting and dealing responsibly with it in church sessions and committees on stewardship is an important part of being the Body of Christ and providing for the financial well-being of our churches.
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| Savers focus on the continuing need for financial resources for ministry | Spenders focus on the current need for financial resources for ministry |
| They want to know that their gifts will keep on giving far into the future | They want to know that their gifts will be spent to meet present needs |
| Savers are faithful stewards; they are not misers! | Spenders are faithful stewards; they are not spendthrifts! |
| Both savers & spenders share the fear that endowments & endowment income may tend to replace current giving by church members | Both fear that the saver's gifts could damage the church's stewardship |
| But savers also fear that their endowment gifts may be diverted to meet current demands instead of being used for the churc's long term benefit | Both fear that such income may make the church complacent & inward looking |
The second main reason is found in the fears of both savers and spenders that endowments and bequests for congregations are (or can be if not handled rightly) "bad and/or dangerous"--that they tend to replace current giving by members and to create churches unresponsive to changing needs for witness and work in their communities. The stereotype of an endowed congregation is one with a well-maintained building, a respectable but unchallenged membership, and a mission that centers on itself.
To focus on developing an endowment program, a congregation and its leaders must work through the tensions and fears, agree upon policies, adhere to those policies faithfully, and recognize the distinction between the stewardship of income and of accumulated assets.
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| The first key to a successful endowment program in your congregation is to prayerfully adopt policies designed to alleviate fears and to encourage savers to give generously from their accumulated assets. |
| The second key is to faithfully demonstrate, over time, that you will adhere to the policies which you have adopted and not set them aside due to current financial straits or pressure from those who are inclined toward spending. |
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INCOME: money that we receive regularly
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ACCUMULATED ASSETS: money that we have
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This focus will mark for many a new departure in Christian stewardship--a departure founded on three premises: (1) that it is in congregations that Christians are nurtured and sustained in the faith, (2) that it is not only natural but also right that members should be highly motivated toward bequests and endowments which continue the witness and ministry of the congregations that nurture them, and (3) that a properly planned and implemented program can change the self-centered stereotype of an endowed congregation into a vision of active outreach and responsive ministry. Indeed, the future may show that the congregations that are best able to engage in significant outreach and ministry to their communities, the larger Church, and the world are those churches that have exercised their stewardship responsibilities by developing a strong endowment program.
Realizing Stewardship Opportunities
During the next fifteen to twenty years, 7 to 10 trillion dollars will be inherited by heirs and charitable causes. Current studies indicate that the generation that will leave these inheritances is more open to considering bequests to churches and other charitable causes than the generation that is following it, and therefore the next decade is crucial to a presentation of the challenge to Cumberland Presbyterians to be faithful stewards of their accumulated assets and to consider and provide for the continuing ministry of our congregations.
Cumberland Presbyterians who already see proper planning for the responsible disposition of their accumulated assets as a part of their Christian stewardship should be offered every opportunity to exercise that stewardship for the benefit of their congregations. If they are not offered such opportunities, they may well divert funds tot secular charities which they would otherwise have given to churches. They may also see and/or fear that their church cannot deal with large gifts in ways that will enhance and enlarge its ministry and that will not decrease current giving by its members.
Cumberland Presbyterians who do not yet see the need for planned, responsible disposition of their accumulated assets need to be educated regarding the possibilities and challenged to extend their stewardship into this area of their life. Even those of modest means can leave a percentage of their estates to their congregation and designate that it be placed in an endowment fund established by their church to receive bequests. Those with more means may wish to set up separate endowments to fund specific needs.
Indeed, Cumberland Presbyterians of all generations should be afforded the full opportunity of being "committed for the centuries."
HOME FOUNDATION ENDOWMENTS For more information, contact Richard Magrill
Page updated on May 2, 2007 Pages maintained by Elinor Swindle Brown