Legacy Ministry Training FAQs
By Nancy Young, GUMF Director of Planned Giving and Scholarships
1. WHAT IS GUMF’S LEGACY MINISTRY TRAINING, AND WHY SHOULD OUR CHURCH CONSIDER THIS OPPORTUNITY?
NANCY: Providing an opportunity for your members to give or leave a gift to your church endowment can be one of the greatest ways for them to give witness to their faith and values. In order to provide this opportunity, churches must establish and promote their endowment. In addition, churches can benefit greatly from having a permanent source of income to fund ministry and mission.
2. WHAT IS AN ENDOWMENT?
NANCY: An endowment is a permanent fund or source of income. Endowment funds are invested to establish a source of income to support programs and ministries. The big difference between endowment funds and other funds is that endowment funds are permanently invested for the benefit of your church.
3. HOW LONG IS THE LEGACY MINISTRY TRAINING?
NANCY: There are 12 training sessions that teach you how to establish and promote your endowment. The training is self-directed, so you can determine how quickly you would like to complete the training.
4. IS THIS COMPLICATED?
NANCY: GUMF would like to make this process easy for you. We provide step-by-step processes as well as turnkey documents for everything you will need to design and implement your customized program. To view the documents, please visit www.gumf.org/training/session-documents.
5. HOW MUCH DOES IT COST TO PARTICIPATE?
NANCY: The fee for our Legacy Ministry Training is ½ of 1 percent (or 50 basis points) of the church’s prior year’s revenue or $5,000, whichever is greater. When you successfully complete our training and set up an endowment fund at GUMF, your fee will be placed in your church endowment account. To be successful, you must complete the homework for the 12 sessions, have a permanent committee and have a resolution that has been approved by your charge conference.
6. HOW DO WE GET MORE INFORMATION?
NANCY: Please contact me (Nancy Young) at 678-708-6601 or firstname.lastname@example.org. I will meet with your leadership to provide additional information and answer your questions. I am available to you throughout the training and will help you successfully complete the program.
This article was originally published in the Georgia United Methodist Foundation's Fall 2018 Faith & Money newsletter.