The aim of the Christian steward is to receive, manage and pass along the gifts of God. Because of a need to help the members in the planning of their gifts, the people who are University Park United Methodist Church established a permanently endowed foundation in 1983. The UPUMC Foundation is a fund set up exclusively to receive gifts of cash and property through gift planning and memorials.
The Foundation is a permanent fund that retains each gift which is contributed. Only the investment income is used. Each gift remains in the principal body of the Foundation, and as the gift earns investment income, the original gift is perpetuated year after year. Every contribution gives to the church forever!
The Foundation is designed to extend the ministries of the church beyond its routine operations. Consequently, the existence of the Foundation in no way removes each member's responsibility for regular percentage giving to the operating budget. The budget of our church is all-important and is the responsibility of the congregation every year to provide for the everyday bills, salaries and programs for the membership. The Foundation provides enrichment to programs that would otherwise not be possible.
Charitable gifts can be made to the Foundation anytime. Wills, life insurance policies, certain real estate, living memorials and cash contributions continue to be the strength of the Foundation. The Foundation is recognized by the Internal Revenue Service as a 501(c)(3) charitable foundation. Contributions to the Foundation are deductible for federal tax purposes, subject to limitations applicable to public charities.
The Foundation is governed by a six-member Board of Trustees drawn from the UPUMC membership. Additional non-voting members of the Board include the Pastor and Secretary of the Foundation. Regular meetings of the Foundation are held at the church, and all business is reported periodically to the Administrative Council. All financial reports are kept at the Church office by the Business Administrator.
Most of the Foundation's funds are invested with the Texas Methodist Foundation, 11709 Boulder Lane, Suite 100, Austin, Texas 78726-1808. Financial statements are provided monthly to the UPUMC Foundation.
Use of Funds
The Foundation provides the security of knowing that gifts left to a particular purpose or cause will be handled in a responsible way, and will be used only in accordance with your wishes. Income from the Foundation may go toward any of the many programs or needs within our congregation. Examples include:
- Pastoral care
- UPUMC mission projects, local and worldwide
- Older adult ministries
- Children's and youth ministries
- Music ministries
- Renovations and maintenance of church buildings and grounds
Gifts may be made without a specific designation as to use. In this case, the Foundation's Board of Trustees will determine the specific use to best fulfill the mission and ministry of the Church. Such unrestricted gifts are of great importance in funding new and expanded ministries.