First Baptist Church Foundation
To Download the Foundation Brochure, click here.
To Hear an Audio Message about the Foundation, click here
Why do we have the
Foundation? The First Baptist Church of Clemson Foundation was
established December 4, 2003, to receive and manage Church funds that are to
be invested and not spent. Our endowment funds are invested through the CBF
Foundation.
Is the Foundation related to
annual contributions? No, Foundation gifts are given to the Church in
addition to annual contributions and capital campaign gifts.
How are Foundation gifts
defined? They can be bequests in a will or funds given to establish an
endowment or to support an existing endowment.
What is the relationship between
the Church and the Foundation? There is a strong relationship between
the Church and the Foundation. Funds earned by the Foundation are returned
to the
Church to supplement programs and activities in the annual Church budget.
Investment income earned can be restricted funds to a specific program or
activity of a donor’s choosing. Or, they may be unrestricted earned funds to
be spent at the discretion of the Stewardship and Finance Committee.
What is a bequest? A gift of personal property, such as money,
stocks, bonds, real estate, etc., owned by a decedent at the time of death,
which is directed by
the provisions of the decedent’s will.
What is an endowment? A permanent fund of money established to benefit the Church. It has a specific purpose defined for which the income derived from the money or property is to be applied. In an endowment fund, the principal is invested and only a portion of the investment earnings is spent. The balance of the earnings is reinvested so that the endowment grows over time. In this manner, the endowment becomes a perpetual source of funding.
How do I establish an
endowment? You should contact the Church Financial Secretary who will
contact the Foundation President. A Fund Trust Agreement will be prepared to
administer the endowment according to the directions of the donor.
What is the minimum amount to
establish an endowment? After the necessary Fund Agreement is executed,
an endowment may be started at any time and in any amount. A minimum of
$10,000 must be funded before the endowment earnings can be spent.
Who do I contact at the Church about
my requests in my will? You may contact the Church Financial Secretary.
We need to know if you have made or plan to make a bequest to the Church
Foundation.
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