The United Methodist Foundation manages more than 100 endowments and trusts, which support a wide variety of ministry and mission in Indiana. Endowments and trusts are managed with respect to the donor’s wishes in compliance with current laws and regulations. Your ministry goals are important to us and we can help you to achieve them.
This fund represents the net unrestricted earnings of prior organizations designated by the board for mission and ministry grants.
Grandin and Virginia Godley Trust
Grandin and Virginia Godley created this fund from the residual of a charitable remainder trust established with the United Methodist Foundation. Forty percent of the annual distributions are to be used for mission and ministries as designated by the Foundation board.
IN U.M. Loan & Savings Ministry Fund
The IN U.M. Loan & Savings Ministry tithes 10% of its net income every year for facility-related grants. These grants are primarily for handicap accessibility and safety or security issues confronted by a United Methodist church or agency in Indiana.
This fund was created by the United Methodist Foundation, designated by the board for evangelism-related grants.
Bishop Alton Mission Endowment
This fund was created by the United Methodist Foundation in honor and memory of Bishop Alton, designated at his request for mission-related grants.
Mark and Elizabeth Hull Mission Endowment
Mark Hull created this legacy endowment from an estate bequest he designated for mission-related grants.
Bishop Raines Endowment
This fund was created by the United Methodist Foundation in honor and memory of Bishop Raines, designated at his request for mission-related grants.
This fund was created by the United Methodist Foundation designated by the board for mission-related grants.
Grant Application Deadlines:
- April 1 for spring grants distributed by June 30
- October 1 for fall grants distributed by year end
Individual Scholarships and Grants
Many of our endowments and trusts benefit individuals. The United Methodist Foundation has partnered with the Indiana Conference Board of Ordained Ministry to manage many of the scholarships available to streamline the application process for our clergy candidates. Funds available for scholarship or grant requests are listed below.
Emergency Aid for Clergy Retirees and Families
Minister’s Aid Fund
This fund was created by the United Methodist Foundation from gifts restricted to retiree health insurance, conference pension assistance for retired clergy, salary support for incapacitated clergy, or other similar needs.
Minister & Spouse Memorial Fund
This fund was established by the United Methodist Foundation and designated by the board for the emergency needs of retired or incapacitated clergy and their families.
Albright UMC Seminary Scholarship Fund
Albright United Methodist Church created this fund at its closing to celebrate and memorialize the mission and ministry of the church. The fund provides seminary scholarships for certified candidates for ordained ministry.
Icea and Morris Draper Scholarship Trust
This fund was created by an estate bequest from Icea and Morris Draper and transferred to the Foundation by the Board of Ordained Ministry for the education of young Christian men and women for ministerial and missionary work.
Harvey Seminary or Secondary Education Scholarship
Ralph and Louise Harvey created this fund from the residual of a charitable remainder trust. The annual distributions are used for scholarships for Seminary or Secondary education.
Herschel & Guinevere Lesh Memorial Trust Fund
Larry Lesh created a legacy endowment with the United Methodist Foundation that funds three ministry areas. Forty percent of the annual distribution is used to fund scholarships for certified candidates for ministry.
Ministerial Scholarship Fund
This fund was created by the Board of Ordained Ministry for certified candidates for ordained ministry.
P.B. Smith Preaching Scholarship Fund
This fund was created by the Board of Ordained Ministry in memory of Dr. P.B. Smith to provide an annual scholarship to a younger minister in her/his pursuit of better preaching.
Helen Seitz Memorial Trust
Helen Seitz created this legacy endowment from a bequest she designated for scholarships for students preparing for ministry in Christian education.
June (Soliday) Owen created this scholarship legacy to support pastoral leaders in the Indiana Conference who are certified candidates for ordained ministry.
Local Pastor Course of Study Scholarship Fund
This fund was created by Herbert and Nancy Cassel with a donation from a Donor Advised Fund to provide tuition assistance for part-time local pastors attending License to Preach or Course of Study.
Bishop Hodapp Scholarship for West Africa Seminary Students
This fund was established by the United Methodist Foundation in honor and memory of Bishop Leroy Hodapp and designated at his request for scholarships for young persons from Sierra Leone and Liberia.
Educational Debt Reduction
This fund was established by the United Methodist Foundation in honor and memory of Rev. Leon Hartman. It was designated at his request to assist clergy with large education debt who are in full connection with the Indiana Annual Conference.
Van Fleit Ministerial Aid Fund
This fund, created from gifts to the Garret Indiana Methodist Church from members of the Van Fleit family, was transferred to the United Methodist Foundation for management. The purpose of this fund is to provide financial assistance to newly ordained pastors who have substantial educational debt.
Bill Rogers Memorial Mission Trip Fund
This fund was established by Sandy (Rogers) Ferguson in memory of her late husband Rev. Bill Rogers in honor of his love of missions and his conviction that mission trips change lives. Grants are given to individuals making their first mission trip, encouraging them to experience the growth and wonder of serving others around the world.
Rev. Mark Blaising Fund – Africa Medical Clinic
This fund was established by the United Methodist Foundation to honor the memory of Rev. Mark Blaising. It was designated at his request for grants to Indiana area physicians, dentists, or nurses serving in mission medical clinics in Africa or to support the needs of those clinics.
Grant application deadlines:
- April 1 for spring grants distributed by June 30
- October 1 for fall grants distributed by year end
Scholarship application information and deadlines:
- June 1 for fall semester
- November 1 for spring semester
- Emergency Fund requests are processed when received
- Scholarship Info Page
Forms for Applying to the Grants and Scholarships listed above
You can leave a gift for a church, mission, or ministry in several ways and you can choose the method that works best for you and your ministry. The United Methodist Foundation can assist you with the options listed below.
Charitable Gift Annuity
A Charitable Gift Annuity (CGA) provides both a lifetime income to the donor and a gift of the remainder to benefit the ministries of your choice. The CGA can also include other income beneficiaries, such as a spouse or friend. Annuity payments to the donor are based on several factors including the number of beneficiaries, the age and gender of the beneficiaries, and the frequency of the annuity payments.
The donor gets an immediate income tax deduction for a portion of the value transferred to the United Methodist Foundation, and only a portion of the annuity payments received will be taxable. In addition, if appreciated property is transferred, a portion of the capital gains income is avoided completely and the remainder is reported during the donor’s life expectancy.
Charitable Remainder Trusts
Two types of Charitable Remainder Trusts exist, and both involve a donor gifting property to a newly created trust. The two types are:
- Annuity Trust — Provides a fixed annual income
- Unitrust — Provides a variable income determined each year as a percentage of the value of the trust assets
In both cases, the donor retains the right to receive income for life. At the donor’s death, the property goes to the United Methodist Foundation or other specified charity.
The trust property is excluded from your estate for tax and probate purposes. The donor receives an immediate tax deduction for a portion of the amount transferred to the trust. If appreciated property is transferred, the capital gains income is avoided.
Charitable Lead Trusts
With this type of gift, the donor contributes assets to a newly created trust, names a charity to receive trust income for the term of the trust, and names the beneficiary to receive assets at the end of the trust term. Typically, the remainder beneficiaries are family members. The trust term can be for the life of the donor or a term of years.
The donor receives an income tax deduction for a portion of the initial gift, and earnings on trust assets are excluded from the donor’s taxable income. The value of the donor’s gift of future income to a charity reduces the taxable value of assets ultimately transferred to the beneficiaries. Furthermore, appreciation on assets held in the trust avoids federal estate tax at the donor’s death.
Donor Advised Funds
The donor makes a donation to the United Methodist Foundation and receives an immediate income tax deduction. The transfer of funds is irrevocable, but the donor retains the right to recommend grants be made to the charities they want to support.
The proceeds of the gift are held in a professionally managed investment account during the term of the agreement. The donor can recommend periodic distributions of income and/or principal. Doing so makes it easy to make one gift of assets and direct the benefit to support multiple charities and/or support charities over a number of years. Donor Advised Funds are also an ideal tool for those wanting to make large contributions because of high income in an individual year.
Life Estate Agreement
A Life Estate Agreement provides for the transfer of title to your home, farm, or other property to a charity while you retain the right to use the property for the remainder of your life. You retain any income the property produces during your lifetime. You also make any repairs or improvements you desire and retain responsibility for maintenance costs. In the year title is transferred, you receive an income tax deduction. Upon your death, the charity receives the property to use in supporting ministries you designated. The property is excluded from your estate for both tax and probate purposes.
Gift by Will or Revocable Trust
Preparing a will is one of the most important things a person can do. A will assures family members will be cared for and assets accumulated during a lifetime will be distributed in accordance with a person’s wishes. A bequest to the Foundation is an ideal way to provide perpetual support to specific Foundation or Conference ministries, your local church, or other charities. A will or trust allows you to provide for both family members and your church. Including the Foundation in your will can fulfill your desire for responsible Christian stewardship and shows faith in the future of the Church. A will is an excellent way to give what you may not have felt able to during your lifetime.
Donors often choose to establish an endowment fund directing the income toward lasting support of a special ministry. The United Methodist Foundation is equipped to professionally hold and administer such gifts in compliance with applicable regulations and donor wishes. We frequently receive gifts designated to benefit multiple charities or to establish a family named endowment fund for a specific church or ministry.
Gifts of Life Insurance
Life insurance is a low cost way to leave a substantial gift to the Church. Life insurance is often purchased to provide protection for younger family members. Years later, when the children are adults and debts are paid, donors may no longer need the death benefit. Designating the Church or Foundation as owner or beneficiary, you can establish your charitable legacy and it may provide a tax benefit.
The Church can also be named as a secondary beneficiary. If primary beneficiaries like a spouse or child do not survive you, the Church can receive the benefits of the policy. Several variations of this gift are available.
Gifts of Security and Other Property
Gifting securities or real estate can provide significant tax benefits if the property has increased in value. By donating appreciated property, you receive a tax deduction of the fair market value and avoid capital gain income. The United Methodist Foundation is capable of receiving such gifts. Proceeds can benefit a Church ministry or charity of your choice.
Gifts of Bank Accounts
A revocable gift of a bank or investment account is an excellent way to give to the Church. You can name the Foundation or a local church as a contingent owner/beneficiary. Any balance remaining in the account at your death will automatically go to the designated charity. As the donor, you retain the right to close the account or use the funds for any purpose at any time.
Foundation Facilitated Gifts: Gifts of Securities, Life Insurance, or Property
Sometimes a donor wishes to gift an asset, such as stock or a parcel of real estate, to a church or ministry but the organization doesn’t have the ability to accept the gift. The United Methodist Foundation can provide the services needed to accomplish such gifts by selling the asset and distributing the proceeds as directed.