Endowment Funds & Legacy Giving

The Kirk is blessed with a number of endowment funds that provide considerable support of the annual operating costs of the church.  These funds are intended to supplement member stewardship giving; not replace it. The principal is invested in assets that earn interest, dividends and capital gains. The principal is not intended to be spent, even as the value increases. The Board of Trustees, as part of their responsibility to preserve and protect the assets of the Kirk, carefully assesses the appropriate level of distributions from each fund.

Endowment Funds

Kirk in the Hills is funded through two primary sources, 1. the operating budget generated by the annual stewardship of members and friends and 2. withdrawals from the endowed funds created by the generosity of members and friends. Endowed funds differ from operating funds in two crucial aspects. 

First, each endowed fund is intended for use by the Kirk in perpetuity. The principal is invested in assets that will earn interest, dividends, and capital gains. But the principal is not intended to be spent, even as its value grows. The Board of Trustees, as part of their responsibility to preserve and protect the assets of the Kirk, periodically assesses the appropriate level of distributions from each fund. 

The second differentiating aspect is that endowed funds are established with intended purposes as specified by the original donor or subsequent donors of that fund and must be used exclusively for those purposes.


Our Endowment Funds

There are currently 23 different endowed funds. Donors can contribute to those existing funds at any time in any amount or, with specified minimum contributions, establish a new fund.

To give you an idea of what funds we have, and what kinds of new funds can be set up, some of the Kirk’s funds are outlined below.

Legacy Giving: The Colonel George Society

Strength for Today, Hope for Tomorrow

Legacy giving is donations members plan to make to the Kirk or another non-profit after they pass away. These donations are planned for in advanced and are executed at the appropriate time by the decision-makers (executor, trustees, or others) named by the donor.

Legacy gifts to the Kirk can be unspecified or they can go towards an existing or new endowment fund. These gifts supply the Kirk's ministries for years to come and honor the legacy of the donor and their family.

The Kirk's legacy giving program is The Colonel George Society.

Join the Colonel George Society by remembering the Kirk in your estate plan. The Gifts you give today to the Annual Giving Campaign provide the Kirk with funds for its current programs - strength for today! The gifts you leave at your death in your estate plan will provide the Kirk with funds for its future programs - hope for tomorrow! And if your gifts are left to one of the Kirk's endowment funds, then the gift will stay in trust so future generations can enjoy the Kirk.

How to Make Legacy Gifts

There are a number of ways to make an outright gift in your estate plan. Although the Kirk cannot give legal advice, below is sample language you may want to show your attorney.

You may also make a gift at your death to one of the endowment funds at the Kirk. Although the Kirk cannot give legal advice, below is sample language to name one of the Kirk's endowment funds; you may want to show this language to your attorney.

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Death and Taxes

Nothing is certain in this life except death and taxes- and the life, death, and resurrection of our Lord Jesus Christ.

For IRS purposes, the Kirk is a charity that is tax-exempt under Section 501(c)(3) of the Internal Revenue Code and is also considered a public charity (and not a private foundation). Distributions to the Kirk upon your death should qualify for the federal estate tax charitable deduction. We encourage you to consult with your estate planning or tax counsel on how the various federal, state, or local taxes may apply to your estate plan.

This web page gave examples of outright bequests or distributions to the Kirk- either unrestricted or restricted by being added to one of the Kirk's endowment funds.

There are other kinds of planned gifts that are not outright gifts, such as a charitable remainder trust that will provide you or others with a lifetime annual distribution and the remainder to the Kirk. A portion of those gifts may be deductible for estate or gift tax purposes depending on how those gifts are created.

Please consult with your estate planning and tax counsel with respect to the various kinds of planned giving options that might be suitable for you.

Through the thoughtful and generous contributions of members and friends, endowed funds broaden and deepen the Kirk’s ministry for us today and for future generations in our community of faith. For information about the endowment funds, making a bequest to the Kirk in your will, or making another kind of legacy gift to the Kirk, please contact the Business Manager at 248.626.2515.