Morganton, North Carolina

Calvary Endowment Fund

“Even if I knew the world would go to pieces, I would still plant my apple tree.”
—Martin Luther

What will be your legacy?

What will be your testament of faith?

The Calvary Endowment Fund was established at Calvary Lutheran Church ELCA of 119 N. King Street, Morganton, North Carolina 28655 in 2006.

What is it?
It is an endowment for the church supported primarily through planned gifts.

What Exactly is an Endowment?
Basically it is a savings account where you only spend the interest.

Why Not Spend All of it?
By creating an endowment it guarantees available income every year for church needs. It can also be used as collateral for loans. The fund will free-up current money used for maintenance for mission and outreach, increasing what we can do for our world.

What Will Our Fund be Used For?
The primary purpose of the fund is to provide money for the maintenance of the church facilities including the organ. This will accomplish two things:
1. Regular maintenance of the facilities will save the church money in the long run, and
2. The Calvary fund will free up current money used for maintenance therefore increasing funds for mission and outreach.

Why Participate?
You have included the church in your charitable giving every year. You believe in her mission. You see the effects of her outreach and ministry. You can leave a legacy of your commitment and faith to the church and your church family by including Calvary in your estate plan. Join others in making a difference.

How do I Participate?
Funds can be gifted to the church through:
Cash and securities – You can make contributions of cash and securities to the fund on a one-time or periodic basis. Gifts of appreciated stocks and bonds can often provide you significant tax advantages.
Simple will or living trust – You can make a bequest to the fund through your will or living trust.
Life insurance or IRA – Make the Church the primary or secondary beneficiary of your insurance policy or IRA.
Real estate – You can make a gift of real estate or other items of value. (Must be deemed salable and without undue liability to the church by the congregation council or their agent).
Life income agreement – Calvary can be the beneficiary of a life income agreement (Charitable Remainder Trust, Lead Trustor Annuity).

How do I Include Calvary in My Will?
Use either of these options in your Last Will and Testament:

Bequest of a certain amount: I give the sum of _______dollars ($ ) to Calvary Lutheran Church of Morganton, North Carolina to be added to the Calvary Endowment.

Or

Bequest of a percentage: I give to Calvary Lutheran Church of Morganton, North Carolina, ____% of my residuary estate to the Calvary Endowment.

How do I make Calvary Lutheran a Beneficiary of an Insurance Policy or IRA?
Call the insurance provider or IRA manager and ask for a change of beneficiary form. Fill it out and send it in.

Distributions
The funds will be managed by the ELCA Foundation. Investment income from the fund will be distributed annually.

There will be an annual review of the investments by the endowment and finance committees and recommendations made to the Congregational Council for usage. If you would like copies of all the procedural and policy guidelines they are available to any member of the congregation.

For further information or resources, contact:
Anyone on the Endowment Committee

or

The ELCA Foundation
8765 West Higgins Road
Chicago, IL 60631
800.638.3522

Calvary Lutheran Church Pastor, or the Financial Secretary
(828) 437-0780

As each has received a gift, employ it for another…in order that in everything God may be glorified.
1 Peter 4:10-11

The Calvary endowment web page is not intended for legal advice. Please consult an attorney