HISTORY of the planned giving fund
The Planned Giving Trust was established in 2000 to provide both a framework and opportunity for faithful stewardship above and beyond the scope of annual giving. Its purpose was and has been to share the good news of the gospel to those who do not yet know Christ, to help new believers in their personal relationship with Jesus, and nurture them in discipleship.
Since its inception, the Planned Giving Trust has been governed by FPC members. Gifts to the Trust are conservatively invested by professional third-party investment managers and annual distributions are made from the Trust earnings in support of a wide variety of local, regional, and international missions and ministries. In 2014, due to an increasingly burdensome regulatory environment for this type of non-profit entity, the Trustees began to explore the transition of the Planned Giving Trust to the Planned Giving Fund under the management of the Community Foundation of South Georgia. That transition was formally concluded in 2015 without altering, in any meaningful way, the workings of the original Trust.
Today, the Planned Giving Fund continues to be governed by church members who now function as Fund Advisors. It is divided into three sub-funds: Facilities Fund, Outreach Fund, and the Sisson Music Fund.
“For over 150 years, First Presbyterian Church has been a significant part of many generations. It is my hope that our church will continue to serve this community far into the future. I believe in the mission of our church and that is why First Presbyterian Church is named in my Will. This decision was easy, it is right for me, and quite simply put, it makes me feel good.”
CORE FUNDS
THE FACILITIES FUND
The purpose of the Facilities Fund is to preserve the longterm health and structural integrity of the facilities of First Presbyterian Church. Although our Building & Grounds Committee is faithful in meeting the regular maintenance and repair needs of our physical plant, there have been and will be occasional unanticipated or large capital needs that arise and exceed the scope of the annual maintenance budget. In such circumstances, this Fund enables the church to pay for larger capital expenditures which might otherwise be deferred or handled in a more costly, piecemeal manner.
In addition to being used for the longterm exterior and interior renovation and refurbishment of our church, this Fund may also be used for longterm extraordinary landscaping projects; for the acquisition of furniture, fixtures and equipment; and for the acquisition and improvement of real property.
THE OUTREACH FUND
The purpose of the Outreach Fund is rooted in the two Great Commandments: to love God with all our heart, soul, and mind and to love our neighbors as ourselves. Distributions from this fund allow FPC to support important mission and ministry work beyond what is possible through the annual gifts of our members, such as extended local and world mission work and outreach of a special, non-recurring or occasional nature; evangelism; ecumenical projects; and church planting and development.
THE SISSON MUSIC FUND
The purposes of the Sisson Music Fund are to support the enhancement and preservation of the church’s choral music ministry and, more specifically, to provide for the ongoing education of the participants of the choral music ministry. Distributions from this fund, for example, have been made for tuition, housing, and other related expenses associated with choir members’ attendance at the annual Montreat Music Conference and the Atlanta Choristers Guild Conference.
DESIGNATED FUNDS
Although these existing three core funds were created to be optimally compatible with our church mission and are believed by the Fund Advisors to be sufficiently broad and inclusive, some FPC members (with prior approval of Fund Advisors) may elect to establish new funds for designated purposes. When such funds are created, donors may also designate certain specific instructions and parameters related to the distribution of their gifts.
“We are blessed with gifts that enable us to be productive and also to serve as the hands and feet of Jesus during our lifetime. How wonderful are gifts which never expire! The Planned Giving Fund allows us to confidently make that kind of gift…one to be used without ceasing to help others.”
PLANNING NOW
MAKING A BEQUEST
There are two primary ways to include the FPC Planned Giving Fund in your will or living trust:
A gift of a specific amount of money
A percentage of your estate to FPC
The following are examples of bequest language:
Bequest of Cash
“I bequeath the sum of $ to the Planned Giving Fund of First Presbyterian Church of Thomasville, Georgia.”
Bequest of a Percentage of the Estate
“I devise and bequeath % of the remainder and residue of property owned at my death, whether real of person, and wherever located to the Planned Giving Fund of First Presbyterian Church of Thomasville, Georgia.”
Although most gifts are in the form of cash or marketable securities, bequests of tangible assets such as residential or commercial real estate are also welcome, subject to any gift acceptance policies which may be used by the Community Foundation of South Georgia.
GIFTS FROM TAX-DEFERRED RETIREMENT PLANS
Tax-deferred retirement plans such as 401(k) plans and individual retirement accounts (IRAs) provide many options for making planned charitable gifts with compelling tax advantages. For example, if a retirement plan is left as part of one’s estate, those tax-deferred assets may be subject to income and estate taxes…and in some cases, generation-skipping taxes.
By contrast, a retirement plan that names First Presbyterian Church Planned Giving Fund as beneficiary may allow the entire amount of the bequest to pass directly to the church, free of all taxes.
WHAT COMES NEXT
In making a decision about your gift to the Planned Giving Fund, we encourage you to consult your attorney or financial advisor who can answer your questions and assist in the preparation of the necessary documents to convey your gift.
Additionally, any of the Fund Advisors would be happy to meet with you to discuss the Planned Giving Fund. All inquiries about the Planned Giving Fund are kept in strictest confidence.