First United Methodist Church Foundation
FUMC Foundation
The Foundation is created and shall be operated exclusively for the religious purposes of the First United Methodist Church of Manhattan, Kansas. The Foundation does have 501(c)(3) status and is a nonprofit organization exempt from federal income tax. Contributions made by the donor are tax deductible.
FOUNDATION HISTORY
The First United Methodist Church of Manhattan, Kansas Foundation was formed by a Trust Agreement dated January 1, 1988, between the FUMC and the initial Trustees. The Trust Agreement controls all rights, responsibilities, and authority of the Foundation including the Bylaws. The Bylaws are intended to supplement the Trust Agreement and to guide the Trustees in exercising their duties to the Foundation.
TRUSTEES
The foundation is governed by six Trustees, each of whom shall be a member of FUMC. Trustees are appointed for a term of six years annually by the Charge Conference of the FUMC.
Current Foundation Trustees and Officers:
Brady Burton, Chair - bjburton@yahoo.com
Randy Peterson, Treasurer - randallpete54@gmail.com
Amy Bipes, Secretary - amybipes19@gmail.com
Terry Arthur, Trustee - tsarthur1944@gmail.com
Don Blome, Trustee - blome365@outlook.com
Cheryl Arthur, Trustee - arthurcheryl@sbcglobal.net
Please contact any Trustee with questions or for more information.
MANAGEMENT OF FUNDS
The Foundation Funds are managed by the Trust Company of Manhattan, Kansas. Investment of our assets shall be so diversified to minimize the risk of large losses. The investment strategy of the Fund is to emphasize total return, that is, the aggregate return from capital appreciation and dividend and interest income. The primary objective in the investment management for Fund assets shall be to achieve a balanced return of modest growth of principle and current income while avoiding excessive risk.
DISBURSEMENT OF FUNDS
The Trustees may disburse Foundation funds only upon the written application of a recognized FUMC committee chair, a pastor, or an affiliate organization and only as consistent with the designated endowment category/purpose for the benefit of FUMC and its programs.
HOW IS A GIFT TO THE FOUNDATION DIFFERENT FROM MY ANNUAL GIVING TO THE CHURCH?
A gift to the Foundation does not replace or conflict with the annual giving to the church. Your annual gifts to the church support the current operational needs of the church and fund the annual budget. Your gift to the Foundation, often referred to as a planned gift, provides future financial resources for the church’s mission and ministries.
“The FUMC Foundation is a wonderful asset for our church. A planned legacy gift to the Foundation is an investment in the future of our faith community and ensures that the ministries we cherish today will continue to bless generations to come.”
Brady Burton
FUMC Foundation Chair
PROCESS TO REQUEST FUMC FOUNDATION FUNDS
1. The FUMC Foundation Request for Funds is completed and
signed by the Committee Chair and a Pastor.
2. The FUMC Foundation receives the requested signed form and
considers the request at the next FUMC Foundation Board meeting.
3. The FUMC Foundation Board considers the request and votes to
approve, disapprove, or request more information. The FUMC Foundation Treasurer or accounting consultant will inform the funding request signer, Pastor, or Director of Finance that the request has been either approved, disapproved or more information is needed.
4. If the request is approved, the FUMC Foundation Board
determines the fund from the “Available for Distribution” funds from which the monies will be distributed.
5. If the FUMC Foundation Board has approved a request, the FUMC
Director of Finance will provide the receipts for the approved project to the FUMC Foundation Treasurer and the accounting consultant for reimbursement of the expenses.
6. The FUMC Foundation Treasurer and accounting consultant will
review the receipts and if approved, as per the request, will contact the Trust Company to pay for the expenses to FUMC from the designated fund or funds as previously approved by the FUMC Foundation Board.
WHY GIVE THROUGH THE FUMC FOUNDATION?
· Leaves a lasting-legacy of faith
· Supports ministries, missions, scholarships, and building needs
· Extends Christian witness to future generations
· Income tax deductions
· Avoid capital gain taxes on donated assets
· Estate tax reduction
· Retirement accounts are often taxed less when given to charity
· Foundation governed by a board of six Trustees
· Annual financial reports
· Investment policies to preserve and grow funds
· Gifts used according to donor intent
A gift to the FUMC Foundation is an investment in the future of our faith community. It ensures that the ministries we cherish today will continue to bless generations to come.
ESTATE AND LEGACY PLANNING by The Trust Company
The Trust Company provides Estate and Legacy Planning for donors interested in making gifts to FUMC. When the FUMC Foundation receives assets as a beneficiary under a will or trust after the donor’s death, the gift is known as a “Planned Gift”. Planned gifts can be made from a variety of asset classes such as cash, securities, qualified retirement plan/IRA assets, the death benefit from life insurance, or real estate. All gifts are welcome.
For more information on how to set-up a Planned Gift as part of your estate and legacy planning, please contact the following Trust Company team members:
Cole Bachamp coleb@thetrustco.com 785-320-4232
Emily Dixon emilyd@thetrustco.com 785-320-4238