Growing the Legacy
Hinsdale United Methodist Church established the Copper Cross Endowment in 2009 to commemorate the 50th anniversary of the founding of the church – honoring the legacy given by our founding members by creating our own legacy for the future.
How has the Copper Cross Endowment been Funded?
We have received gifts to the endowment over its 14 years of existence from a multitude of ways, with the largest gifts coming from bequests in the estate plans of our members. With gifts over the 14 years and earnings from our investment gains (less annual distributions to the annual budget), we had accumulated a balance of $1.4 million at December 31, 2022.
More on the Endowment
What exactly is an endowment, and why has HUMC established an endowment?
A financial endowment is money or property donated to an institution, usually with the stipulation that it be invested and the principal remain intact in perpetuity or for a defined time period. This allows for the donation to have a much greater impact over a longer period of time than if it were spent all at once.
Hinsdale United Methodist Church has established an endowment to commemorate the 50th anniversary of the founding of the church – honoring the legacy given by our founding members by creating our own legacy for the future.
Giving to the endowment is one of many stewardship options for you as church members and friends, funded primarily through bequests to remember HUMC in your will – leaving a legacy for an institution that was a meaningful part of your life.
To learn more about the governance and operation of the Copper Cross Fund, Hinsdale United Methodist Church’s endowment, please read our charter.
What’s in a name?
The “Copper Cross” sits atop the sanctuary steeple, at the highest point of HUMC. Another copper cross is found as an inlay in the wooden cross hanging in our sanctuary. The cross first and foremost represents our purpose for being: worshiping God, and following Jesus Christ. It is the most basic proclamation of Christianity. Copper is a primary element of the earth that does not degrade with time. The endowment of HUMC will provide lasting and vital resources to ensure that we, as a congregation, will not be hindered to proclaim our faith and share it with the world. The “support” of this endowment helps makes it possible to physically “support” the copper cross on our steeple, as we carefully plan the long-term maintenance of our buildings. Our sanctuary was built with a long-term vision of growth, and this endowment helps promote growth by addressing its financial burdens.
What is the investment policy for The Copper Cross Fund?
The Endowment Committee’s investment strategy strives to make a positive contribution toward the Social Principles of the Church.
How will the funds be distributed?
Annually, four percent (4%) of the average value (based on a rolling twelve quarters) of all investments will be distributed to the annual budget providing a key source of funding for the church.
How do I make a gift or bequest?
You may contact the Chair of the Endowment Committee to fill out a Copper Cross Fund Gift Form. To contact the Committee Chair, please call the church office at 630-325-1280. You may give a gift of a 401K distribution or make a bequest by preparing a new will or adding a codicil to your present will (401K distributions, wills, and codicils should be prepared by or with the advice of your attorney and tax advisor). All conversations will be confidential unless otherwise directed. Our hope is that you will feel great about what you are doing and will share the good news!
The opportunity of a lifetime – write a will!
One of your most precious legal rights is the opportunity to specify how you wish to have your assets distributed. You have spent a lifetime accumulating your estate, caring for your family, providing for loved ones, and supporting causes and organizations in which you believe. Don’t miss the opportunity of a lifetime by not writing a valid will. With your will you can support organizations that were important to you during your lifetime, such as HUMC.
What is the difference between the Stewardship Campaign, a memorial fund gift, and an endowment gift/bequest?
Our annual Stewardship Campaign supports the operating fund of the church. These funds are generally used in their entirety to pay for church programs, staff salaries, utility bills, office expenses, apportionment, etc. A memorial fund gift will generally be used in its entirety to commemorate a person. An endowment fund gift/bequest will remain in place in perpetuity – with only a portion of the earnings from the gift used annually to support the capital and operating needs of HUMC.
What if I’m not “wealthy?”
This is a common misconception. Gifts made through a will or living trust can be made in ANY amount. HUMC will be grateful for any gift you leave, regardless of the amount. Having that said, many people are surprised at the value of their estates when including your home, retirement accounts, life insurance, mutual funds, etc.
Whatever the size of your estate, consider a planned gift to The Copper Cross Fund – it will be a blessing to you and HUMC!
Why should I make a bequest to The Copper Cross Fund?
Your gift demonstrates to your family the importance of your faith to you.
Your gift will benefit many generations to come.
Making your gift will create a positive legacy to HUMC and be an example to others.
It will bring you JOY
Making a Distribution from your IRA
Tax law also provides a charitable giving opportunity during one’s lifetime. Owners of Individual Retirement Accounts (IRAs) who are age 70 ½ or older may make tax-free charitable gifts of up to $100,000 per year from an IRA directly to Hinsdale United Methodist Church. More specifically:
Gifts must be made directly to the Hinsdale United Methodist Church from the IRA administrator
The donor must be at least 70 ½ years of age
The gift can be counted toward the Required Minimum Distribution (RMD)
Multiple gifts can be made
Gifts can be made for a portion of the Required Minimum Distribution (RMD), all of the RMD, or more than the RMD, up to $100,000
Charitable rollover gifts cannot be made from 401(k) or 403(b) plans
No taxes are paid on these gift amounts
These gifts cannot be used to fund charitable remainder trusts or charitable gift annuities
Sample Bequest Language (which may be modified as desired):
Bequest of cash
“I bequeath the sum of $10,000 to Hinsdale United Methodist Church.”Bequest of a percent of the estate
“I devise and bequeath 20% of the remainder and residue of property owned at my death, whether real or personal, and wherever located, to Hinsdale United Methodist Church.”Contingent Bequest
“If my brother John Doe survives me, I devise and bequeath 20% of the remainder and residue of property owned at my death, whether real or personal, and wherever located to John Doe. If John Doe does not survive me, then I devise and bequeath 20% of my residuary estate, whether real or personal property and wherever located, to Hinsdale United Methodist Church.”
Tax Information for IRA Distribution Donations
We have several HUMC members that have elected to support HUMC by using a portion of their IRA distribution to make their donation to the church. If the donor uses the standard deduction, charitable contributions cannot be itemized. Under the recently changed tax law, it is estimated that about 90% of people are taking the standard deduction versus itemizing.