Lutheran Memorial Endowment Fund
The impact of a person’s life may extend beyond a lifetime. Through prayerful thought and planning, we have an opportunity to share our resources and extend our serving well into the future.
There are many ways to express our gratitude to God for all the blessings we have received. Your church, Lutheran Memorial Church, wishes to expand these options through the Lutheran Memorial Church Endowment Fund.
What is the Endowment Fund?
The Lutheran Memorial Church Endowment Fund is an endowment fund that was established by the congregation in 1990 to be a permanent, self-sustaining source of funding.
What is the purpose of the Endowment Fund?
The Endowment Fund’s purpose is to receive gifts of all kinds. The principal of the gifts will be held in a permanent fund as a financial cornerstone of the church. The income generated from this fund will be used each year for educational, charitable and religious programs of Lutheran Memorial Church. The Fund will help the church meet new challenges and opportunities which would not normally be met by the annual budget.
How does the Endowment Fund operate?
Gifts given to the Endowment Fund become part of a permanent endowment fund. The fund is an accumulation of many gifts, large and small, contributed by persons interested in the welfare and programs of Lutheran Memorial Church. A committee chosen by the congregation oversees the management and distribution of the funds.
How can you participate?
Contributions to the Endowment Fund can occur in a number of ways. Gifts or memorials may be made directly to the Fund in the form of cash, stocks, bonds, life insurance, annuity or IRA beneficiary designation or other property. When you establish an endowment fund, you create a permanent legacy of support for Lutheran Memorial Chruch.
Options for Giving
- Cash contributions are always welcome no matter what size the gift.
- Gifts of real estate and securities can be made to the Endowment Fund. There may be a tax advantages to the donor here, also. Your attorney or CPA will be able to give you current information as to any tax deductions available to you.
- Bequests. A bequest is a gift by will which assures that your property will be distributed as you desire. Donors can specify an amount, a percentage, or a particular asset. A will is a legal document which should be written in consultation with an attorney.
- Life insurance and deferred annuity policies. New and existing policies may be used for gifts to the LMC Endowment Fund. The LMC Endowment Fund should be named as a beneficiary of the life insurance or annuity. Life insurance policies can also be owned by the Endowment Fund with payments then made to fund the policy. Life insurance policies make it possible for the donor to finance a sizable gift to the Endowment Fund by payment of relatively small annual premiums.
- Transfer On Death (TOD). A TOD can be assigned to the LMC Endowment Fund for any mutual fund, securities account, or bank account. On such accounts the donor can complete a beneficiary form naming the LMC Endowment Fund as full or partial beneficiary.
- Donor Advised Funds. Donor advised funds can be set up by the donor and allows the donor to distribute grants to a variety of charitable causes at any time for any amount. Gifts to this type of fund provide for tax benefits to the donor.
- IRAs, 403b and 401k accounts. LMC Endowment can be named as sole or partial beneficiary on these types of accounts. Donors over 70 ½ may be able to directly transfer a portion of their IRA to the LMC Endowment. Contact your CPA or accountant prior to making such a transfer.
- Grain, Cattle, or other tangible assets. Such items can be donated to LMC and sold by the Endowment Fund. Consult your CPA or accountant for proper procedures and process for making such a gift. Such professionals can also discuss the various tax advantages of making such gifts to the LMC Endowment Fund.
- Complex Assets. Complex assets such as C Corp, S Corp or Partnership Interests can be gifted to the LMC Endowment directly or indirectly through a Donor Advised Fund. Involvement of legal and CPA advisors are necessary to ensure maximum benefits to the LMC Endowment Fund and the Donor
*A Letter of Intent should be completed by donors and kept on file by the LMC Endowment Fund to ensure donor’s intent can be honored.
Request More Information
If you wish to have more information about how the Endowment Fund operates, or how you can take part in this program of Lutheran Memorial Church, contact the church office at (605) 224-8608 or complete our Request for Information form. A member of the Endowment Fund Committee will then contact you to provide any assistance you may need to complete your gift.
Gifts of cash to the LMC Endowment are easy to do. Gifts of appreciated securities, real estate, or corporate business interests (C Corp or S Corp shares) require the assistance of tax and legal advisors. It is recommended that you notify the LMC Endowment Committee prior to completing these types of gifts.
www.lpgsd.org (Lutheran Planned Giving of South Dakota)