First established in 1991 as the Palisades Presbyterian Church Endowment Fund and now known as Endowment and Major Gifts Fund (EMGF), these funds are designed to sustain, expand and enrich the total mission of the church. Earnings from the EMGF funds are used by the Session for Mission, Christian Education and capital building/non-budgeted maintenance projects and not intended for day-to-day operations of the church.
The donor may designate any appropriate use of their gift. Currently, the EMGF has two dedicated Endowment accounts: Palisades Church Endowment and Palisades Children’s Endowment, where funds are available at 50% of the earnings, and the Legacy and Friends Major Gift Fund, available with both earnings and principal. Contributions of any size, at any time serve the ministry of Jesus Christ and bless Palisades.
When Shall I Give?
There are many occasions when gratitude inspires a practical response when considering the blessings God has given us.
Gifts can be made to honor birthdays, anniversaries, major accomplishments, loved ones or just a bountiful year.
Deferred gifts may be designated for eventual endowment while the donor receives income for life.
Gifts may also be made through a will or living trust. Wills and trusts are ways to perpetuate your Christian influence and protect your heirs – it is truly the gift that keeps on giving.
Since the federal government encourages gifts to the church through tax laws, donors can benefit from substantial reductions in income and estate taxes.
What Shall I Give?
Gifts to the Endowment and Major Gifts Fund can take many forms:
Cash Securities – Appreciated stocks that have been held for the long-term capital gain period are generally deductible for full market value.
Real Estate – The fair market value of appreciated real estate is generally deductible in full.
Insurance Policies – The endowment fund can be designated as the beneficiary of a life insurance policy.
Deferred Gifts – Gifts may be made in the form of a charitable trust from which the donor receives income for life, with the gift passing to the endowment fund upon the donor’s death.
Bequests – Gifts made be left to the endowment fund in a will or trust.
How Much Shall I Give?
How much you chose to give is between you and God. Some may tithe their estate, leaving ten percent to the church’s Endowment and Major Gifts Fund. Others endow their pledge, giving an amount at least sufficient to produce an annual income equal to their annual pledge.
Who Manages the Fund?
The Palisades Presbyterian Church Endowment and Major Gifts Fund committee, under the Finance Commission and responsible to the Session, is charged with oversight of the fund. The funds are invested in New Covenant Funds which follow Presbyterian Church (U.S.A.) Foundation Socially Responsible Investing guidelines.
For more information on the endowment fund or how to make a gift, please contact in Who Manages the Fund.
Just then he looked up and saw the rich people dropping offerings in the collection plate. Then he saw a poor widow put in two pennies. He said, “The plain truth is that this widow has given by far the largest offering today. All these others made offerings that they’ll never miss; she gave extravagantly what she couldn’t afford—she gave her all!”(Luke 21:1-4, The Message)