The purpose of the MCPC Endowment Trust (E.T.) is to accept gifts, holding the principal in perpetuity to generate income that will be used as a source of funding for Millwood Presbyterian's mission and ministry.
The E.T. offers two separate funds to accomodate the intentions of donors. One is the Undesignated Fund, which is for all gifts and bequests received where donors do not indicate a specific purpose for the gift. The Designated Fund is intended to manage gifts accoding to the specific instructions of donors. The Endowment Trust will accept only such gifts and bequests as are consistent with the mission and ministries of MCPC and the Presbyterian Church (U.S.A.).
The Board of Directors is responsible for the investment and management of all assets and funds of the Endowment Trust. Although it is the Board's practice to invest a portion of assets through the Investment Management Service of the Presbyterian Church (U.S.A.) Foundation, the majority of its funds are invested in mutual funds as authorized by our Investment Policy and Assett Allocation Guidelines.
It is the intent of the Endowment Trust Board to make annual contribution to MCPC of 4% of the year-end value of the Undesignated Funds using a three year rolling average. All distributions must be spent for mission, capital improvements, and maintenance of church facilities.
The Board is composed of at least six and not more than nine church members elected by the congregation for three year terms.
Ways to Contribute to the Trust:
1. Charitable bequests in your will. Writing a will and structuring your estate gives you the assurance that your intentions for your estate and your heirs will be carried out. Propoer planning cal also minimize estate taxes.
2. Cash gifts in any amount.
3. Life Insurance Policy, naming the MCPC E.T. as beneficiary.
4. Stocks or bonds. Transferring appreciated investments directly to the E.T. may provide a tax advantage to the donor.
5. Property such as home or land.