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Joy MCC Endowment Fund, Inc.

What is the Endowment Fund?       

The Fund provides an opportunity for you to make a lasting gift to the Church. As a separate corporation from the church, the Fund invests in long-term areas that preserve capital while providing appreciation in value and return of excess to the church. Some of the ways in which you can give are:

 

Outright gifts of cash, securities, real estate and personal property during your lifetime.

Designate the Fund as a beneficiary in your IRA or life insurance policies.

Make a gift through your will, either as a specific bequest, a percentage of your assets, or as remainder beneficiary.

Gift of your personal residence while retaining a lifetime right to live there with the residence passing to the Fund upon your demise.

 

Why have an Endowment Fund?

The Endowment method provides a lasting memorial while providing on-going income to the church.

 

What happens to my donation or bequest?

 Money and securities, as determined by the Fund directors, are invested in safe areas to provide growth of and income from the funds. Real and personal property are generally sold off to provide funds for investment, however if the property can provide income it may be retained and leased out at the discretion of the Fund directors.

 

What prevents my donation from being eaten away by church expenses?

The bequest cannot be used for any budgetary purpose, for any special project or be whittled away to pay operating expenses. The bequest stays intact working to throw off income to the church. As reasonably as possible, any limitations placed on a donation by its donor will be honored.

 

How is the Fund able to provide income to the church and still keep my bequest or gift intact?

The Fund, as a separate corporation authorized by the church in 1993 and chartered in Florida in 1995, elects its own board of directors at the Spring Church Congregational meeting. The Fund presents candidates to the congregation who then vote upon those candidates for any open positions. One position is reserved for either the Pastor or the appointee of the Pastor. The other positions are rotated on a yearly basis. At the Spring Congregation meeting the Fund also presents to the church a check as distribution of its net investment income for the previous year.

 

For those interested in providing a donation in their Will to the Joy Metropolitan Community Church Endowment Fund, the Fund is a qualified 501(c)(3) charitable organization. Its Federal tax ID number is 59-3355462. The principal office address is 2351 South Ferncreek Avenue, Orlando, FL 32806. Telephone (407) 894-1081.

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