Brentwood United Methodist Church
Wednesday, December 11, 2013
What is the BUMC Foundation
The Foundation was founded in December 1992. The Foundation is a a 501(c)(3) charitable corporation. It is governed by a Board of Directors drawn from the membership of Brentwood United Methodist Church who each serve for a term of three years. Assets of the Foundation are professionally managed by financial institutions.
"Organized for the purpose of supporting the programs, ministry, works, goals and objectivies of Brentwood United Methodist Church." ~ Charter of Brentwood United Methodist Church Foundation, Inc. ~ December 6, 1992
Nine church members were elected to the Board of Directors and three members have been replaced by three new members every year since. After modest beginnings, the Foundation was fortunate to receive significant gifts from members and friends of the Church. These funds are divided into a large general fund and a series of dedicated funds. By policy the Board endeavors to distribute funds and award grants on an annual basis of up to 5% of the Foundations unrestricted assets at the beginning of each year. Recently these annual distributions have been in the range of $100,000 - $170,000.
How are the Grants Used:
How Can I Support the Foundation:
The Foundation is designed to allow individuals the ability to provide long-term support for the missions and ministries of BUMC. This can be through:
Because gifts to the Foundation are tax deductible, there are a number of planning opportunities by which individuals can reduce their own personal taxes while making their gift go even further. In addition,gifts may be structured to provide income to donors or their families over a period of time. Donors seeking to make such gifts should consult with their attorneys or other planning professionals.