SJE Endowments

BCP-in-pew-rackWhat is your legacy?

The SJE Legacy Society is our record of those currently living who have chosen to include St. John’s in their estate planning and have given the Parish Office a record of the designation. When people make an estate provision for the church and count themselves as members of our Legacy Society, they are not just receiving recognition, but giving witness to their faith through the church. For more information about how you can be include St. John’s in your planned giving, click here for the enrollment form. You can also click here to see the current members of the St. John’s Legacy Society—those who have made one of the plans outlined below to include St. John’s in their own estate. NOTE: We are currently trying to collect names for the Legacy Society. If your name is not listed, then please fill out the form above to inform the Parish Office so we can add your name to the list!

Scroll down, or click below, to find out more about how you can support the ministry of this parish for generations to come.

SJE Consolidated Endowment Fund

ECF-Small-Logo-400x4001-322x322Our parish endowment funds exist in consolidated form, invested with the Episcopal Church Foundation. The consolidated endowment operates on a “Total Return” policy, where a small percentage is drawn each year, enabling the principal investment to remain over the long-term.

  • Original Endowment FundUsed to support the operating budget of our parish mission and ministries. (12/31/2015 Value, $100,417 • 2016 Draw $4,632)
  • Daniels Trust – 90% of draw used to support the operating budget of our parish mission and ministries, 10% reinvested. (12/31/2014 Value at ECF $127,394 12/31/2014 Value of Loan $11,480 • 2016 ECF Draw, $4,501, 2016 Draw from Loan $130)
  • Idema Mission & Outreach Fund — Used to support the mission and outreach ministries of our parish. (12/31/2014 Value, $10,839 • 2016 Draw $358)
  • Landscaping Endowment Fund – Used to support the maintenance and beautification of our campus, including the Memorial Garden and the St. Francis Garden. Gifts of $100 usually result in an inscribed brick in the pathway. (12/31/2014 $13,012 • 2016 Draw $403)
  • Building Endowment FundUsed to fund various improvements to our building and property. (12/31/2014 $650 • No 2016 Draw)
  • Music & Fine Arts Endowment Fund – Used to support the musical and arts ministries of our parish. (12/31/2014 $1,197 • No 2016 Draw)

A new Endowment Fund may be established by the Vestry with a significant gift (usually $500 or more) offered to “seed” the new Fund. The designation could any other area of our Parish Life. Draws are not made until the value reaches $10,000.

Hill Family Christian Education Fund

While not a part of the parish assets, this separate fund is housed at the Grand Haven Area Community Foundation (GHACF) and exists to provide funds for expanded or new program costs for children & youth ministry (Value, ~ $65,000 / 2014 Draw $2,200)

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How YOU can make a planned gift

We hope that you will consider including St. John’s Episcopal Church Endowments in your estate or financial plans and help sustain our mission for generations to come. Whatever approach you choose, your gift will enable future generations to continue our mission to “Worship God, Be Transformed in Christ, and Change the World.”

There are many options for including St. John’s in your long-range planning.  Whichever of the options below you might chose, you want to specify “St. John’s Episcopal Church” as the beneficiary and also designate which of the above Endowment Funds you would like your bequest to be designated for.

Different Options for Planned Giving Include

Bequests and Wills

The simplest way to make a planned gift is by naming St. John’s Episcopal Church in your will. A bequest is a meaningful way to support our work without affecting your cash flow during your lifetime. Your attorney can include it when you prepare or revise your will or you can add a codicil at any time.

There are several types of bequests:

  • specific bequest indicates the amount of cash, securities or other asset you wish to leave to St. John’s (usually specifying one of the above Endowment Funds as well). Or, instead of a set amount, you can indicate a specific percentage of the total value of your estate.
  • residuary bequest leaves the remaining portion of your estate (or a percentage of the total) after all other bequests have been satisfied.
  • You can make one of the Endowment Funds of St. John’s the recipient of a contingency bequest, which takes into account the possibility of a change in your beneficiary’s circumstances.

Specific Bequest
You can make a bequest to one of the Endowment Funds of St. John’s for a specific dollar amount or percentage of your estate:

I give, devise and bequeath to St. John’s Episcopal Church in Grand Haven, MI the sum of $________ as an unrestricted gift, to be [placed into NAME Endowment Fund OR to be used at the sole discretion of St. John’s Episcopal Church].

Or, you can make a bequest for specific assets, such as securities, real estate or personal property. Please be as specific as possible in identifying the property:

I give, devise and bequeath to St. John’s Episcopal Church in Grand Haven, MI my [insert description of the asset], to be  [placed into NAME Endowment Fund OR used and/or disposed of, as St. John’s Episcopal Church determines for its general purposes].

Residuary Bequest
You can make a residuary bequest, which gives all or a portion of the residue of your estate to one of the Endowment Funds of St. John’s after payment of expenses and any amounts designated to other beneficiaries.

I give, devise, and bequeath to St. John’s Episcopal Church in Grand Haven, MI X percent of the rest, residue and remainder of my estate as an unrestricted gift, to be [placed into NAME Endowment Fund OR to be used at the sole discretion of St. John’s Episcopal Church].

Contingency Bequest
You can make a contingency bequest to one of the Endowment Funds of St. John’s, which allows you to account for a change in your beneficiary’s circumstances.

I give, devise, and bequeath [insert name] X percent of the rest, residue, and remainder of my estate if s/he survives me. If [insert name] does not survive me, I give, devise and bequeath to St. John’s Episcopal Church in Grand Haven, MI, X percent of the rest, residue, and remainder of my estate as an unrestricted gift, to be [placed into NAME Endowment Fund OR to be used at the sole discretion of St. John’s Episcopal Church].

Unrestricted and Restricted Gifts
Gifts that do not restrict the use (unrestricted gifts) allow St. John’s to use these resources where they are most needed. St. John’s is also grateful for gifts that are designated for a specific purpose that advances our mission (restricted gifts), such as to one of our Endowment Funds or to support to a specific initiative or for a specific program.

If you are interested in making a restricted gift and it is to a mission instead of an Endowment Fund, then it is important that you include language to ensure that St. John’s may re-direct the use of your gift if the specified initiative, program or purpose ceases to need funds in the future:

I give, devise and bequeath to St. John’s Episcopal Church in Grand Haven, MI the sum of $_____ to be used for the [insert name of program] for so long as the Vestry determines that the need exists. Should the need no longer exist, the Vestry may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.

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Retirement Plans
You can contribute to one of the Endowment Funds of St. John’s through your retirement plan. Certain retirement plans, including IRAs, Keoghs, 401k and 403b plans, allow you to defer paying taxes until you withdraw income during retirement. However, after your death these accounts are often exposed to significant taxes.

Therefore, you might find it beneficial to contribute all or part of these funds to St. John’s while leaving other assets to your heirs. Simply name one of the Endowment Funds of St. John’s (or simply the parish itself) a beneficiary of your retirement plan. You will retain control of the plan during your lifetime, and you can change your beneficiary at any time if your circumstances change.

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Charitable Trusts
A charitable trust is a way to achieve your current and long-term financial, estate and philanthropic goals. A donor makes an irrevocable transfer of cash, stock, real estate or other assets to a trust which produces income for the donor or other beneficiary, for a fixed period of time of up to twenty years or until the donor or other beneficiary dies. At the conclusion of the trust period, the remaining principal assets will be distributed to St. John’s.

Charitable trusts take two forms — charitable remainder trusts and charitable lead trusts.

charitable remainder trust allows you to designate the beneficiary of regular payouts from trust proceeds (for either a fixed dollar amount or a fixed percentage) during your lifetime or for a period of time, not to exceed twenty years. At the same time, St. John’s is designated a remainder beneficiary. This allows you to claim a tax deduction for the estimated portion of the assets that will ultimately go to ECF upon death or the expiration of the fixed period.

Charitable lead trusts appeal to individuals who wish to make a gift but retain the property. These irrevocable trusts are, essentially, the reverse of charitable remainder trusts in that the payments from a charitable lead trust will first go to St. John’s  for a specific period of time, usually between 10 and 20 years, after which time the principal of the trust will revert to you or to those you have designated.

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Bank Accounts, Securities and Certificates of Deposit
A no-cost way to make a planned gift to St. John’s is by designating it the recipient of a bank account or security. You can instruct any financial institution in which you have an account or the holder of a security to place your asset in a trust (often called a Totten Trust or a Transfer upon Death Account) which will be transferred, upon your death, directly to St. John’s Episcopal Church in Grand Haven, MI, or to one of the Endowment Funds named above.

This allows you to retain complete control of the asset during your lifetime and to give the remaining asset to St. John’s upon your death. Most Totten Trusts can be created easily, using a form obtained from your bank, financial institution or the holder of the security.

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Life Insurance Policies
St. John’s welcomes philanthropic support through gifts of life insurance policies when the policies are paid in full and St. John’s is named as the owner and irrevocable beneficiary of the policy.

You can name one of the Endowment Funds at St. John’s (or simply the parish itself) as the primary or contingent beneficiary of an existing or new life insurance policy. Although a current income tax deduction is not available, it will result in a federal estate tax deduction for the full amount of the proceeds payable to the charity, regardless of policy size. Or you can make an assignment or gift of a life insurance policy that you currently own or donate a new life insurance policy, approaches which allow a current income tax deduction.

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