SERVING SC BAPTIST MINISTRIES
The Baptist Foundation serves South Carolina Baptist churches, association, institutions and other ministries through investment and endowment services as well as through educating constituents about giving to those ministries through estate planning and other means. The following services are available to South Carolina Baptist ministries:
- Agency Funds – SC Baptist ministries can invest their excess monies through the Baptist Foundation in agency funds, which are accounts similar to investment accounts at a bank or brokerage firm. Many ministries saving for buildings or other special purposes choose to invest those funds through the Foundation. The ministry chooses which fund or funds to invest their monies and will receive statements reflecting fund activity and balances. Monies invested in agency funds do not have to be maintained for a period of time. Funds can be withdrawn when the client requests. Withdrawals are typically processed as of the end of the month in which the withdrawal is requested.
- Endowment Management – Endowments are funds permanently set aside to be invested for future purposes. Contributions made to an endowment are invested permanently and the income generated is distributed (typically annually) for ministry purposes. Many churches and ministries have started endowment programs to provide for future projects outside of the regular church budget. Endowments have also been established when a constituent leaves a bequest of endowed funds to a ministry. The Foundation can assist with planning and promotion of an endowment program. In addition, the Foundation can manage an endowment account for the ministry, which involves monitoring contributions and distributions in accordance with applicable laws. The Foundation currently manages over 380 endowments for different churches and ministries.
- Educational Seminars – The Foundation provides educational seminars to church groups and other groups to educate members about estate planning, financial planning, and planned giving. Seminars are conducted at the church and are provided at no cost or obligation to the Foundation. When seminars are conducted at a church or ministry, the seminar is targeted toward ways to give to assist the hosting ministry.
SERVING SC BAPTIST PEOPLE
The Baptist Foundation serves South Carolina Baptists by providing estate planning services and other vehicles for helping them meet their charitable goals. The Foundation provides education about these services, assistance in estate planning, and management of charitable trusts.
- Estate Planning – The Foundation provides educational information as well as individual consultations in regards to developing an estate plan that will provide for loved ones as well as provide for the ministry of the individual’s choice. In addition, the Foundation provides information about other important matters that need to be considered in life planning, including health care directives and assignment of a power of attorney.
- Living Trusts – The Foundation provides living trust administration services, providing a way for an individual to earmark monies for the ministry of their choice today and receive income for the rest of their lives. Charitable trusts provide attractive income streams while providing a way to avoid capital gains tax if appreciated property is placed in the trust. Some trusts even allow the income to be paid to the donor’s children for a period of years after the donor has gone to be with the Lord.
- Charitable Gifts – The Foundation manages many existing endowments for the benefit of SC Baptist ministries and many Southern Baptist ministries. If you would like to give a charitable gift to an endowment benefiting the ministry of your choice, the Foundation will be glad to assist you. All gifts to the Foundation will be acknowledged and, in the case of gifts made as memorials and honorariums, a letter will be sent to the family to which the donor requests acknowledgment to be made.
Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.
1 Timothy 6:17-19 (NIV)