What is the Zion Vision for Ministry?
For many years, Zion Lutheran Church has had Memorial and Endowment
funds. And now with the creation of the Legacy Society, our goal is to build
a $1.0 million dollar Zion Foundation.
The Foundation will receive various types of gifts, creating a resource
of funds to help our congregation achieve its mission and purpose, as
outlined in the Constitution, Bylaws and Long Range Plan.
The Legacy Society is a new Zion group of persons who have named or who
have given over $1,000 as a special gift to Zion Church in their will,
estate, or other document.
Funds received by the Foundation are kept separate as between the
Memorial and Endowment funds. Only earnings from the Endowment funds are to
be used for special needs or programs. The Memorial funds can use both
principal and earnings as specified by the donor for special needs. Earnings
from both funds can also be used to fund general needs of Zion.
Who manages the Endowment Funds? Funds for Zion Vision for Ministry
program are invested and managed by two separate five member committees.
These members are approved annually at the Annual Meeting. The Senior Pastor
is a member of both committees.
Why the $1.0 Million Foundation Goal?
The establishment of a $1.0 million Endowment would insure the permanent
continuation of Zion Lutheran Church’s many programs. The earnings alone
from such a fund would support programs that have historically been under
funded, or supported by deficit financing, or funded from generous one time
gifts. The need for consistent and assured funding is key to effective
planning and delivery of our many ministries.
What funds make up the Foundation’s programs?
The program consists of four separate and distinct funds:
- The General Fund, for all gifts that are not specifically designated
to a special interest area. We hope this will be the largest fund.
- The Properties Fund, for the extraordinary maintenance and the
improvement of the congregation’s facilities, expansion, and property
acquisition.
- The Outreach Fund, for those ministries that reach out beyond the
ongoing programs of Zion congregation.
- The Special Fund, for those donors who have a particular intent for
the use of their gift.
How can members and friends give to the Foundation
programs?
The following methods might be considered:
- Make an outright cash donation
- Make a particular ministry a beneficiary of your will.
- Make a donation of property or securities, such as: Real Estate,
Stocks, Bonds, IRA, or other Retirement Accounts. Donors could receive
an income tax deduction for the current market value of property or
securities donated, depending upon the type of gift.
- Make the program one of your beneficiaries of a life insurance
policy or annuities. Establishing a new life insurance policy with the
church as owner and beneficiary of the contract is another option. Your
premiums are a tax deduction as a gift to the church.
- Establish a Charitable Trust. Specific trust instruments can be
designed to accomplish an individual’s charitable goals. Legal counsel
is strongly advised when establishing a Trust.