Giving appreciated assets such as publicly traded stocks, mutual funds, or bonds held more than one year is a great, tax-effective way to support your church. Please reach out if you would like the Georgia United Methodist Foundation to assist you with directing appreciated securities to your church, which eliminates potential capital gains taxes to the donor. The tax code is very generous toward this form of giving. This strategy also results in a more significant gift to the church.
Here are some tips to ensure your transaction goes as planned.
- If your church has a brokerage account for this purpose, provide your broker with transfer instructions from your church.
- If your church does not have a separate brokerage account but does have an account with GUMF, call us for instructions to give to your broker to transfer the shares to GUMF for your church’s account. Unfortunately, brokerage houses often do not disclose the donor’s name or the beneficiary when transferring stocks. Therefore, please alert the Foundation and your church in advance of ordering the transfer. Be sure to provide the stock name and number of shares.
- Contact Misty Kush, GUMF accounting assistant, at 770-449-6726 or firstname.lastname@example.org for additional information.
The Georgia United Methodist Foundation fulfills our purpose in partnership with Methodist congregations and organizations. During this Advent and Christmas season, we give thanks to God for all of the churches and organizations who partner with us to fulfill our mission to provide faith-based financial solutions to Methodists across the State of Georgia.
We give thanks for you and the 600+ relationships that we have with Methodist churches, agencies, districts, and annual conferences across the State of Georgia. We more especially give thanks for those of you who joined as partners in ministry this past year.
We give thanks to our institutional partners, who have entrusted nearly $250 million in assets to our care.
We give thanks to the churches and agencies who partner with us through our Loan Program.
We give thanks to all the Methodist churches, agencies, and families who have invested in our Certificate Program, which provides funds to support our Loan Program.
We give thanks for our donors who have established scholarship endowments, enabling our Methodist students to attend our church-related institutions.
We give thanks to our donors who have established planned gifts to benefit churches and ministries close to their hearts.
We give thanks for our new board chair, Kathryn Dennis, and our new vice chair, Ruth Knox, as well as all of the other board of trustees and committee members, past and present, who faithfully support our ministry.
As we prepare for the arrival of Jesus anew in the world, we at the Georgia United Methodist Foundation give thanks to God for each of you, our clients and ministry partners who work with us to advance the kingdom of God in the world.
GUMF President and CEO Mathew A. Pinson hosted a Year-End Planning and the Importance of Having a Will webinar with Atlanta attorney and author Zoe M. Hicks on November 15, 2021.
Watch it here.
Since its founding in 1964, Cliftondale UMC in College Park has run the race with endurance, pressing forward, ever mindful of its mission to make disciples of Jesus Christ for the transformation of the world.
“Cliftondale has a heart for service and mission, and it shows in our actions. Since my arrival in July 2020, we’ve served over 2,000 families through food distributions and COVID testing and by serving as a COVID vaccination site,” said the Rev. Dr. Theophilus Stanford, pastor of Cliftondale UMC. “I’ve shared with the congregation that I feel a part of God’s vision for our church is that our name is synonymous with Cliftondale, the community. When people think of Cliftondale, the community, they should think of Cliftondale UMC for no other reason than knowing that if there’s a need, we desire to connect with them to fill that need in homes, the community, and in the surrounding schools. We hope to reach the world in new and different ways so that transformation is possible and even desired.”
The Georgia United Methodist Foundation has had the privilege of running alongside Cliftondale UMC, offering support, encouragement, and faith-based financial solutions to help this congregation achieve its dreams for ministry. Cliftondale UMC established an endowment fund after completing GUMF’s Legacy Ministry Training in 2019.
“We learned early on through our relationship with GUMF that they are looking out for the church’s well-being and how the church can be an integral part of the community and in the life of its members,” said Don Winston, Cliftondale UMC Foundation director and board chair. “From matching scholarships for our students to the endowment fund and now a loan, there are a lot of partnership opportunities that GUMF provides our church. And since GUMF is full partners with the Conference, we are going to be full partners with GUMF.”
Earlier this year, Winston worked closely with Jim Pope, GUMF senior advisor to the president and director of lending, and Lori Tucker, GUMF loan administrator, to obtain a loan to expand the church’s parking area and repave its existing parking lot. The capital improvements will be a win-win for the church and the community.
“When the church is full, we don’t have enough parking spaces. And as we look at alternative ways of doing church and focus on missional activities that will make a difference in the community like food drives, health fairs, and wills seminars, we need ample parking,” Winston said. “Our community is growing by leaps and bounds. We also plan to do more things like develop recreational programs for youth and serve as a voting precinct that will allow the community to use the space.”
Jim, who has over 40 years of banking experience, adds, “Their loan is structured as a construction to permanent loan with a 20-year amortization. One of the advantages of borrowing from GUMF is there is no prepayment penalty for additional payments if the church chooses to have a capital campaign. Additionally, GUMF is a nonprofit organization that does not charge intangible tax on its loans.”
Winston identifies the benefits of partnering with GUMF on this loan. “We wanted a lender we could trust that was looking out for our interests,” Winston said. “I’ve closed quite a few loans, and one of the advantages is that it is easier dealing with GUMF than a commercial lender because of the favorable treatment United Methodist churches receive. Jim and Lori made the process seamless and easy. In addition, their loan rates were lower than most of the other institutions. Another outcome of our relationship with GUMF is that they helped us update the church’s deeds and legal documents at no extra charge.
The partnership with GUMF has helped us immensely as we navigate the church’s business and deal with its legacy programs. We have to make sure that the money is there in perpetuity and used in a way that perpetuates the mission and the vision of the church. Cliftondale UMC Foundation board members feel good we partnered with GUMF and didn’t borrow money from a bank. If churches have a need, I recommend GUMF as the go-to-place.”
By Mathew A. Pinson, GUMF President and CEO
Thank you for the trust you place in the Georgia United Methodist Foundation. I am inspired by the realization that our work is anchored by our purpose and mission, which is not replicated by any other financial institution available to Methodists in Georgia.
The purpose of the Georgia United Methodist Foundation is to partner with congregations, organizations, and individuals in direct support of the ministries and mission of the church. In this way, we are a ministry partner as we seek to live out our mission to provide faith-based financial solutions for investing, lending, training, and planned giving.
In this issue of Faith & Money, you will discover how GUMF partners with Cliftondale UMC, East Cobb UMC, and Martha Bowman UMC to elevate and advance their mission. You will also meet Brittney Haynes and Cater C. Thompson, GUMF trustees, and Kamisha Washington, a Gammon Theological Seminary student, who received a scholarship.
You are invited to join us as we live out our purpose in partnership with people called Methodists across the State of Georgia. We will always ask – how can we best help you, your church or your organization achieve your mission? To learn more, please reach out to us at 770-449-6726 or email@example.com.