The Beulah Foundation Fund Endowment
The Beulah Baptist Church, Alexandria, VA is committed to spreading the gospel of Jesus Christ worldwide while continually providing a local full service holistic ministry to members of our church family and the Alexandria, Virginia community and beyond. The attainment of the vision is premised upon Article II, Purpose and Objectives of our Constitution adopted April 1, 2022. It is in this document that we acknowledge ourselves as an extension of the universal body of Christ and members seeking to fulfill this calling through Christian nurturing to build up our faith and love by continuing to establish and maintaining the ministry of Beulah Baptist Church in our community forever.
It is on these principles that we purpose to establish and create a permanent endowment fund committing to invest in the legacy of the Beulah Baptist Church guided by the goals listed below:
Goals: To accomplish the mission, each member must:
• Believe that the word of God is true and made flesh through Jesus Christ as Lord and Savior
• Belong actively to the church family and community
• Become more spiritually mature actualizing the love of God to all humankind in our lives
• Avail themselves of training and instruction so that we will come to know and understand
❑ spiritual authority
❑ the role and responsibility of spiritual leaders
❑ the role and responsibility as a spiritual follower
• Cooperate with a spirit of unity and put forth integrated (formed, coordinated or blended into a unified whole functioning for the good of the body) efforts to fulfill each phase of the vision
What is an Endowment?
An endowment fund is a permanent, self-sustaining source of funding. Endowment assets are permanently invested and each year, a portion of the value of the fund is paid out as a grant, to support the fund’s purpose. Earnings more than this distribution are used to build the fund’s market value. In this way, an endowment fund can grow and provide support in perpetuity for its designated purpose(s).
The establishment of an endowment fund helps to create a permanent legacy of support for our church and other charities that we may wish to support.
Why an Endowment?
Endowments are not primarily a financial issue; they are a theological issue. When a person creates an endowment gift to the church it makes it possible for that person to perpetuate that person’s faith and trust in God. Giving beyond a person’s death declares to the generations to come that person’s faith in God. Endowment gifts are theological statements that prove a person’s belief that we are never ultimately proprietor owners, we are always only stewards, lifetime guardians entrusted by God to use
wisely what God has placed in our hands to use. For this reason, a person’s bequests to the church is the final expression of the magnitude of that person’s faith. When a church creates an endowment, it is for stewardship and to allow permanent giving. An endowment would allow Beulah to expand our imagination, faith and impact beyond the limits of our annual operating budget.
The purpose of the endowment fund is to support and enhance the mission and the vision of the Beulah Baptist Church by providing future financial support which will enable the church to continue to exist and, if needed, to accomplish projects and programs which might not otherwise be possible. The endowment fund will allow members and friends the opportunity to make charitable donations to Beulah Baptist Church (hereafter referred to as “BBC”) that will become a permanent endowment of
financial support and a living memorial. The endowment fund name shall be The Beulah Foundation.
Management of Funds
The Beulah Foundation Fund will be managed by the investment firm Cetera Advisor Networks LLC which is governed by Beulah’s Investment Committee. Beulah’s Investment Committee will oversee the performance of the Fund, and report annually on the fund performance and holdings to the Beulah Foundation Commission.
Questions and Answers
How can I donate to the Beulah Foundation Fund?
A direct gift is when a donor gives an asset, such as cash, stock or real estate, directly to the Beulah Foundation Fund. All potential donors can use this method, regardless of age, the size of the estate, or the amount of the gift. A donor who makes a cash contribution is eligible for an income tax deduction, while a donor who makes a gift of an appreciated long-term capital asset, such as stock, is eligible for an income tax deduction and can avoid paying capital gains taxes on the asset’s appreciation. A donor
must itemize his or her deductions to receive a charitable income tax deduction.
A bequest is when someone gives assets, such as stocks, bonds and personal property, through his or her will or trust. Any potential donor who has a will or living trust, regardless of age, the size of their estate, or the amount of their gift, can make a charitable bequest. The value of the gift is removed from a person’s estate, which reduces the amount owed in estate taxes.
Charitable life insurance
Donors can use life insurance to donate in a number of ways. They can: transfer ownership of a life insurance contract they already have to the Beulah Foundation Fund; Cash out a current policy and give the proceeds to the church; Purchase a new life insurance contract and name the Beulah Foundation Fund as the owner and beneficiary, or Designate the church as the beneficiary of a life insurance contract they continue to own. Charitable life insurance is an appropriate giving vehicle for
most donors. If the ownership is transferred to the church and the church is the beneficiary, the premium payments may be tax-deductible. All potential donors can use this method, regardless of age or the size of their estate.
What types of gifts can I make to the Beulah Foundation Fund?
Gifts can be from various sources such as cash, stocks, bonds, life insurance policies, bequests, estates, etc.
Will Beulah’s tax-exempt status change by having an endowment”?
Donating to the Beulah Foundation Fund does not change Beulah’s tax-exempt status as a 501(c)(3) nonprofit organization. * Beulah Baptist Church is a 501(c)(3) public charity.
Where can I get more information?
Contact a church official who will put you in contact with someone who can answer your question or contact a member of the Beulah Investment Committee.