As you saw on the front page of this week’s Spirit, First Christian Church was very blessed to have received a substantial bequest from the Estate of Bessie Casey. Per Bessie’s request, the first 10% of the bequest will be tithed to Week of Compassion: Haiti. The balance of the funds will be transferred to the “Perpetual Memorial Fund (PMF).” Perpetual means permanent, so the “principal” money in this account is not spent. Each year the church receives the “interest” from investing the PMF money which is then distributed: 25% for ministerial scholarships; 25% broken down to 85% Disciples Mission Fund, 10% Week of Compassion and 5% to Reconciliation; 25% to Local Outreach; and the final 25% for local capital or programming expenditure. For 2015 the income from the Fund totaled $4,458.69! So as the perpetual memorial fund grows, so does the income for our local needs! The current PMF balance is $279,517.97.
Memorial gifts can be used to buy a needed item or service on behalf of the congregation, it can be directed to an Outreach ministry (such as the Sandwich Ministry), directed to the building fund, etc. In other words, the monies are only spent as the donor wishes. Funds given in memory of someone without a specific intent, such as Bessie’s bequest, go into the PMF.
Gifts can also be given to “honor” someone who is still alive. Perhaps remembering family or friends for an anniversary, birthday, or just to say “thanks.” Not sure what to give that person “who has everything” for Christmas? Why not make a contribution to the PMF in their name? As a non-profit organization, all contributions to the church or to the PMF are tax deductible. (Please consult your tax advisor for specific information).
If you have more questions, please stop by my office; we’ll visit over a cup of coffee!