An endowment is defined as a permanent fund of property or money bestowed upon an institution from which the income is used to serve the specific purposes of the donor. It is an investment in the future. It enables God's people to honor our Lord by using their resources as a testimony during their lifetime and beyond. As God's people use their resources in obedience to His direction, three things happen: God's work is advanced, He is glorified, and the giver receives abundant blessings of joy and fulfillment in this life.
What is the Fifth Avenue Baptist Church
Memorial Endowment Fund?
The Fifth Avenue Baptist Church Memorial Endowment Fund was established in 1981 to help meet the needs of our church and community, as well as to provide church members with an outlet for giving and ministering to others for future generations. The Memorial Endowment Fund consists of a variety of funds established by gifts of church members. Some of the funds are designated for specific purposes, while others are undesignated and are used to meet ongoing needs within the church and community. To preserve the legacy of each fund, the committee is restricted to distribute only the interest generated by each fund. Over the past 30 years, the Memorial Endowment Fund has responded to the physical, emotional, educational, and spiritual needs of hundreds of people. It has allowed our church to minister to our community and our world in many different and meaningful ways. And it has given our church members a wonderful outlet for sharing the love of Christ.
What is the Memorial Endowment Fund used for?
The Memorial Endowment Fund helps our church, church members, and community in a variety of ways, including:
- Expanding services and ministries to the elderly
- Providing educational training of children's teachers and workers
- Expanding services and ministries for children and youth
- Helping defray expenses and provide support to FAB ministerial students and students preparing for humanitarian careers
- Maintaining and improving church facilities and grounds
- Providing emergency needs, physical or spiritual, to the church and community
- Providing annual Christian educational programming
Who manages these funds?
The Memorial Endowment Fund is managed by an eight-member group known as the Memorial Endowment Fund Board. The Board includes the Finance Committee Chair, Properties Management Chair, American Baptist Women President, Church Moderator, Trustee Chair, and three other members nominated by the Nominating Committee and elected by the Church. This board has full authority over the distribution of income from undesignated gifts, and is bound by the terms of any gift made for specific purposes. The Memorial Endowment Fund Board is not authorized to expend the principal of any fund for any purpose, unless so designated by the donor.
How can I support the Memorial Endowment Fund?
Consider giving a gift of money, stock, or property to support a purpose of your choosing. Remember the Memorial Endowment Fund in your will. Honor the memory of a friend or loved one with a memorial gift.
We suggest that you consult a trusted tax advisor, financial planner, and/or estate planner to determine the current state of the law, applicable tax benefits, and the appropriateness of this kind of gift to your specific situation.
Ways Memorial Endowment gifts may be given:
- Cash: Gifts of cash provide immediate benefits to the donor and the church.
- Last Will and Testament: A deferred gift, giving some portion of one's estate at death by naming Fifth Avenue Baptist Memorial Endowment Fund as a beneficiary in one's will.
- Property and Securities: The gift of appreciated assets may provide additional tax advantages because of their appreciated value.
- Life insurance and Annuities: These can provide tax advantages when the church is the beneficiary and/or named the owner.
- Trust Funds: Trust funds can provide income for you and/or your family, then become an endowment fund of your approved choice at the end of the specified term. There are a number of types of trusts that can be set up to meet your long range estate planning desires.
Am I eligible to receive assistance from the
Memorial Endowment Fund?
Quite possibly, depending on your type or level of need. If you have questions, call the church office at 304.523.0115.
A copy of the Memorial Endowment Committee Bylaws and the fund guidelines are available for review in the church office.
"The endowments are a ministry. I know because they ministered to me! I was in the last semester of writing my
dissertation when federal funding ran out. I didn't know how I was going to make ends meets, or how I would
ever be able to continue in my studies. The Endowment Committee stepped in just then with the most generous,
most timely, most gracious gift. Endowments, and the good and godly people that administrate them, got me
through that tough last semester. I will forever be in their debt--and in debt to my beloved Fifth Avenue
Baptist Church, whose outstanding generosity makes such gifts possible!"
-- Dr. Cliff Winters, former ministerial student
"During my ministry at FAB, I saw how Memorial Endowments created support for new and existing
ministry opportunities. Endowments provided a vehicle for ministries that reached out beyond the
columns that would not have been able to be established without their initial support. These endowments
provided opportunities for members of our church and community with help of basic needs, education,
and support through unforeseen events. Without these endowments, many ministries would not exist
nor would countless lives have been touched. God has used these endowments in powerful ways!"
--Rev. Jana Stoner, former Minister of Children and Missions
"The Memorial Endowment Fund has been wonderful for the youth of our church. It allowed several
young people to participate in the mission trip to Nicaragua and it has regularly helped defray the costs
of attending Camp Cowen. Whenever there is a special need, it seems the Memorial Endowment Fund
has responded to it."
--Cyndy Hardwick, former Fifth Avenue Baptist Youth Minister