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Endowment Fund

The act or process of furnishing with an income.

What Is the Endowment Fund?

The Endowment Fund of Groce United Methodist Church is established for the purpose of providing members and friends the opportunity to make charitable gifts to Groce that will become a permanent endowment of financial support. More specifically, the income from endowment gifts is used to  support the ministry and purpose of Groce. The principle remains intact permanently.

How Will My Gift Be Used?

A gift to our Endowment Fund may be classified into one of the following categories based on the donor's wishes:

  • Mission Fund

  • Property Fund

  • General Endowment Fund

  • Special Purpose Fund

How Is the Fund Administered?

The fund is administered by the Groce leadership team which is also the finance and trustee committees.

Avenues of Contributing to the Fund

Ways to contribute to the Endowment fund include:

  • Cash

  • Appreciated Securities

  • Real Estate

  • Personal Property (works of art, antiques, jewelry, etc.)

  • Through your will

  • Through life insurance

  • Through life income plans

  • Income gifts

  • Through retirement plans

  • Government bonds

Brief Summary of Tax Advantages of Charitable Giving

Gifts of Cash - deductible up to 50% of adjusted gross income for individual itemizers; up to 10% of taxable income for corporations.

Gifts of Appreciated Property (i.e. stocks, bonds, real estate, etc.) - deductible for full market value at the time of gift up to 30% of adjusted gross for individual itemizers. Capitol gains tax is avoided when long-term appreciated property is given.

Carryover Provisions - if you or your corporation gives more in one year than can be deducted that year, the excess can be carried forward and deducted over the next five years.

Estate Tax Deduction - unlimited deduction for federal estate tax purposes for cash or other property willed to a qualified charity at death.

North Carolina Tax - the higher your income or death tax rate(s), the more you generally save from charitable giving. Therefore, additional allowable deductions for North Carolina income or inheritance tax will result from charitable giving.





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