Generous Faithful Project Assures God's Kingdom Now and Forever!
Tracy Crump, Georgia United Methodist Foundation Development Committee Chair, and Nancy Young, GUMF Vice President of Development, have teamed up to answer questions about our newest ministry, the Generous Faithful Project.
GUMF: What is the Generous Faithful Project?
CRUMP: The Generous Faithful Project is a movement that recognizes our call, as people of faith, to be generous and our call as disciples of Christ, to grow God’s Kingdom through our giving and service. Through this initiative, GUMF promotes, educates, and provides the resources needed for United Methodists, who wish to join together in building God’s Kingdom now and forever, to do so through legacy giving as well as gifts made during their lifetime.
GUMF: What are the goals of the Generous Faithful Project?
CRUMP: First, GUMF wishes to identify the many different ways you can leave a legacy. Second, our goal is to share how our generous donors have been blessed by empowering others. Third, we wish to serve as a trusted resource to United Methodists to fulfill their vision and plan their legacy.
GUMF: Why is GUMF committed to the Generous Faithful Project and the perfect partner for you?
YOUNG: The mission of GUMF is “Empowering People to Change Lives!” We are perfectly positioned to help empower your church or favorite charity to change lives and as the people of The United Methodist Church, make disciples of Jesus Christ for the transformation of the world. GUMF is a trusted partner who can provide the solutions and resources you need to help you make a gift. You can rest assured that your wishes will be fulfilled. We offer lower fees which yield greater impact. And our investments are also socially aligned with our faith.
GUMF: Why would I want to start this conversation?
CRUMP: We hear from so many generous and faithful United Methodists just how much they care deeply for their church and other UMC ministries and want to assure their continued impact in transforming lives. Unfortunately, though, many United Methodist remain unaware of, or are never asked to, leave a legacy. GUMF is an excellent resource for our Church in facilitating these conversations– and does so with no pressure to make a commitment. We just want to help you clarify what God is calling you to do, and if we can, help you fulfill the vision that God has placed on your heart.
GUMF: What is a legacy gift?
YOUNG: Leaving a legacy is as simple as establishing an endowment, making a gift in your will, or adding your church or favorite charity as a beneficiary to your Individual Retirement Account (IRA). We will work with you, your financial advisor, and your attorney to help you determine the way to give that is most beneficial to you and your family. Here are nine easy ways to leave a legacy gift.
1) Cash: Give with a check.
2) Stock/Investment Assets: Transfer ownership to your church or charity.
3) Charitable IRA Distribution: Transfer distribution to your church or charity.
4)a Real Estate: Transfer title to your church or charity.
4)b Real Estate with Retained Life Interest: Give to your church or charity.
5) Donor-Advised Fund: Set up a fund with GUMF. Give cash/investments, etc. to the fund.
6) Life Insurance: Change beneficiary designation to include your church or charity for all or part of the proceeds.
7) Retirement Plan Assets: Designate your church or charity as beneficiary for all or part of the proceeds.
8) Will or Estate Plan: Leave gifts to your church or charity in your will or estate plan.
9) Trusts, Etc.: Set up a trust and put assets into it.
9)a Charitable Gift Annuity: Donor purchases an annuity contract which obligates GUMF to make payments for a specific period. Any remainder is given to GUMF or designated charity.
9)b Charitable Remainder Annuity Trust: Donor sets up an annuity trust which provides regular payments to donor/designee for a specific time. Remainder is given to charity.
9)c Charitable Remainder Unitrust: Donor creates a trust where a percentage of the value of the trust is distributed annually based upon the market value of the fund. Remainder is given to charity.
9)d Charitable Lead Unitrust: Donor creates a trust that pays a fixed or variable payment to church or charity. Remainder goes to heirs.
GUMF: What is the Generous Faithful Society?
CRUMP: The Generous Faithful Society is a way for GUMF to recognize donors who have made a lasting contribution that impacts Georgia United Methodist churches and ministries. One of the greatest benefits of joining is that through your example you will be encouraging others to leave a legacy gift as well.
GUMF: How do I get started?
YOUNG: To learn more, please contact me, (Nancy Young, GUMF Vice President of Development) at 678-708-6601 or firstname.lastname@example.org. I will arrange a time that is convenient for you to meet either in-person or via Zoom.