Post on 25-Jul-2020
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©2013 Colorado Episcopal Foundation
Supporting the Diocese and its Congregations
for Generations to Come
A Program of the Colorado Episcopal Foundation
SAMPLES &
RESOURCES
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The Minister of the Congregation is directed to instruct the people, from time to
time, about the duty of Christian parents to make prudent provision for the well being of
their families, and of all persons to make wills, while they are in health, arranging for the
disposal of their temporal goods, not neglecting if they are able, to leave bequests for reli‐
gious and charitable uses. ‐Book of Common Prayer, p. 445
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SAMPLES & RESOURCES
TABLE OF CONTENTS
1. Now That’s a Good Idea!................................................................................................................5
Checklist………………………………………………………………………………………...7
2. Get Others on Board.......................................................................................................................9
Request a Presentation Form.....................................………………………………………..11
Sample Vestry Resolution and By‐Laws................................................................................13
Christ Church, Greenwich, CT....................................................................................15
Good Shepherd Episcopal Church, Centennial, CO................................................17
St. Stephen’s Episcopal Church, Aurora, CO............................................................19
The Church of Christ the King, Arvada, CO……………………………………….21
Endowment Templates and Samples.....................................................................................23
Endowment Template A..............................................................................................25
Endowment Template B...............................................................................................27
Good Shepherd Episcopal Church, Centennial, CO................................................29
St. Stephen’s Episcopal Church, Aurora, CO............................................................33
St. Stephen’s Statement of Investment Funds...........................................................35
The Church of Christ the King………………………………………………………43
Establishing/Marketing Your Endowment Article..............................................................45
Gift Acceptance Guidelines and Sample...............................................................................49
Gift Acceptance Guidelines.........................................................................................51
Episcopal Diocese of Hawaii.......................................................................................53
3. Giving It Shape...............................................................................................................................55
Enrollment Form, St. Stephen’s, Aurora, CO......…………………………………………..57
Informational Brochure (Sample).…………………………………………………………..59
Newsletter Articles/Ads...........................................................................................................61
One‐Liners……………………………………...............…………….......................................63
4. Enrolling Founding Members/
5. Enrolling New Members and Maintenance (On‐going).................................65
Status Report..................................................………………………………………………...67
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1. NOW THAT’S A GOOD IDEA
Checklist.................................................................................7
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Legacy Society Creation and Development Stages (Page Numbers are from the Samples & Resources handbook)
1 ‐ Now that’s a good idea
Interest
Contact CEF
Identify Leadership (ideally 2 people):_____________________&____________________
2 ‐ Get others on board
Rector Support
Vestry approval ‐ creation of by‐laws
See Christ Church’s Vestry Resolution, pg. 15
See Good Shepherd’s By‐Laws, pg. 17 or St. Stephen’s, pg. 19, or Christ the King,
pg. 21
Establish an Endowment and create necessary documents
See Endowment Templates, pgs. 25 and 27
Good Shepherds Endowment Draft, pg 29
St. Stephen’s Endowment and Statement of Investment & Policy Guidelines, pg. 33
Christ the King Endowment Trust, pg. 43
Gift Acceptance Policy Guideline, pg. 51
Gift Acceptance Guidelines, Diocese of Hawaii, pg 53
3 ‐ Giving it Shape
Choose a Name
Define Criteria for Membership
See St. Stephen’s Enrollment Form, pg. 57
Create any marketing/written material ‐ logo, brochures, sign up forms, etc.
See promotion from Martyn Hart Legacy Society, Saint John’s Cathedral for criteria
for membership and marketing sample, pg. 61
4 ‐ Enrolling Founding Members
Enrollment Period for Founding Members
See St. Stephen’s Enrollment Form, pg. 57
Identify Individuals Who Have Already Made a Gift
Marketing through newsletter, bulletin, website, narthex, emails, phone calls, etc.
Hold celebration event for creation and founding members
5 ‐ Enrolling New Members and Maintenance (On‐going)
On‐going recordkeeping: updating information on Founding and New Member, in‐
cluding passing away
See St. Stephen’s Enrollment Form, pg. 57
On‐going update to CEF on recordkeeping for the Diocese‐wide database
See Status Report, pg 67
On‐going marketing and review of marketing strategy & materials
Annual Recognition of Members
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2. GET OTHERS ON BOARD
Request a Presentation Form.............................………………..11
Sample By‐Laws............................................................................13
Endowment Templates and Samples.........................................19
Establishing/Marketing Your Endowment Article...................39
Gift Acceptance Guidelines and Sample....................................43
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PRESENTATION REQUEST FORM
Church Name: ___________________________________________________________ Address: _______________________________________________________________ _______________________________________________________________ Contact Person: __________________________________________________________ Phone: ___________________________ Fax: ___________________________ Mobile: ___________________________ Email: ___________________________ Please contact us regarding:
□ Stewardship Presentation to □ Vestry □ Stewardship Committee □ Other ___________________
□ Legacy Society Presentation to □ Vestry
□ Stewardship Committee □ Other ___________________
□ Financial Services Presentation to □ Vestry □ Stewardship Committee □ Other ___________________
□ Other ________________________ to □ Vestry
□ Stewardship Committee □ Other ___________________
Proposed date(s) of presentation(s):___________________________________
For further information and/or to submit this form, contact Vivian Berríos-Torres, Program Administrator, at 303-634-6778 or vivian@coef.org,
or mail or fax at the information below.
1 3 0 0 W A S H I N G T O N S T D E N V E R , C O 8 0 2 0 3 303.534.6778 ▪ F A X : 303.534.6012 ▪ T O L L F R E E : 888.543.8532 ▪ www.coef.org
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SAMPLE BY‐LAWS
Christ Church, Greenwich, CT.....................................................15
Good Shepherd Episcopal Church, Centennial, CO.................17
St. Stephen’s Episcopal Church, Aurora, CO.............................19
The Church of Christ the King, Arvada, CO…………………..21
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Christ Church
Greenwich, CT
Sample Vestry Resolution
IN GRATITUDE
For the heritage left to us by
our predecessors and,
~~~~~~~~~
Sensing that we bear a similar responsibility
for future generations
of the Christian community in Greenwich, and
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With a deep sense of thankfulness for our lives here,
we the Vestry of Christ Church approve and support
a program of planned giving as a Christ Church function.
We have individually reviewed our own planned giving
as related to Christ Church, and enthusiastically
encourage all members to do the same.
Unanimously approved by the Vestry of
Christ Church
Greenwich, Connecticut
September 21, 1994
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ARTICLE VII – The Good Shepherd Legacy Society
Section 1. Function of the Good Shepherd Legacy Society
All major gifts and bequests (remainder interests and special gifts) received by the Church of the
Good Shepherd will be invested and managed under the direction of the Good Shepherd Episcopal
Legacy Society (“GSLS” or “Legacy Society”) consisting of five (5) people. Said Legacy Society will
be established by the Vestry with the tasks of management, investment and raising endowment
funds within the parish. The Vestry shall set standards for the determination of a threshold amount
which shall constitute a ʺmajor giftʺ or ʺbequest.ʺ These standards shall be set forth and explained in
the Statement of Endowment Policy (“Endowment Policy”) for guidance to and utilization by the
GSLSC.
Section 2. Qualifications of Committee Members
In order to qualify for appointment to the GSLSC, potential members must be communicants in
good standing, pledgers of record and regular in attendance at the parish. The term of committee
membership shall be five (5) years; however, initial appointments will be staggered such that two (2)
society members will serve an initial one (1) year term, two (2) society members will serve an initial
two (2) year term, and one (1) society member will serve an initial three (3) year term. No more than
one (1) member of the GSLS can be a member of the
current Vestry appointing committee members. Selection criteria for GSLS committee membership
include the following: (1) Skills in obtaining timely input from the Vestry for the application of in‐
vestment proceeds, (2) investment and, or, trust fund experience, (3) skills in marketing of the GSLS
program.
Section 3. Term
After expiration of two terms of service, GSLS members may be appointed to another term on the
GSLS after being off for one year.
Section 4. Quorum
In order to constitute a quorum, at least four (4) members of the GSLS shall attend any regular or
special meeting. Except as hereinafter set forth, all decisions of the GSLS regarding the management,
investment and raising of endowments shall require consent of a minimum of four (4) of the five (5)
members.
Good Shepherd Episcopal Church
Centennial, CO
By‐Laws for establishment of Legacy Society
DRAFT – 06/24/06
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Section 5. Maintenance and Distribution of Funds
The GSLS shall invest, maintain and monitor the funds of the parish endowment in accordance with
the laws governing fiduciaries under the statutes and common law of the State of Colorado. Invest‐
ments shall be made as set forth in the Endowment Policy. Concerning the distribution of the in‐
come from endowment funds, the committee shall determine what is principal and income accord‐
ing to generally accepted accounting procedures. The Endowment Policy will dictate the amount of
funds needing to accumulate prior to income from the investment of the principal being able to be
expended. The Endowment Policy will also stipulate how the funds are to be expended and the use
of principal.
Section 6. Meetings
The GSLS shall meet annually and other times as necessary. Special meetings of the GSLS may be
called at the request of at least three (3) committee members. A report of the GSLS shall be made to
the parish at its annual meeting each year.
Section 7. Removal of Members
Any member of the GSLS may be dismissed from said committee by unanimous vote of the full Ves‐
try. Should all members of the GSLS be dismissed, the responsibilities of said committee shall revert
to the Vestry for a period not to exceed ninety (90) days. By the end of said ninety (90) day period,
the Vestry shall appoint a new GSLS pursuant to these Bylaws.
Section 8. Financial Transactions
All financial transactions of the GSLS shall require the signature of two (2) society members, or one
society member and the Parish Treasurer.
Section 9. Bonded Status
The members of the GSLS shall be bonded in an amount determined by the Vestry, and the cost of
said bond shall be paid by the parish.
Section 10. Disposition upon Parish Dissolution
Should the parish close or this corporation be dissolved without succession, the endowments shall
revert to the corporation known as the Bishop and Diocese of Colorado, Inc., also known as the Epis‐
copal Diocese of Colorado, to be placed in its general endowment, with the income to be spent ac‐
cording to the determination of the Ecclesiastical Authority of the Diocese, his or her designated
committee, or his or her successor.
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St. Stephen’s Episcopal Church Aurora, CO
By-Laws for the Establishment of an Endowment Approved January 16, 1996
ARTICLE X ENDOWMENTS
Section 1. The Corporation shall establish and maintain an Endowment Fund, The purpose of such fund is to provide the Vestry an effective means of maintaining the viability of the ministries and programs of the Corporation and the capital maintenance and repair of the Corporation’s physical plant assets. Section 2. All gifts and bequests in excess of five thousand (5,000) dollars, that are not part of annual giving, will become part of the Endowment Fund. Unless otherwise directed by the donor, funds will become subject to the endowment policies that provide for the distribution, designation, investment or other aspects of the Fund. Section 3, Endowed funds shall be considered as follows: (a) Quasi-endowment. Those funds that the Vestry has determined are to be retained and in vested. The Vestry has the right to decide at any time to expend the principal. (b) Endowment. Those funds in which it is stipulated that the principal of the fund is to be maintained inviolate, in perpetuity, and only the income from the Investment of the fund may be expended. The income may or may not be restricted as to its use.
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ENDOWMENT TEMPLATES & SAMPLES
Endowment Template A...............................................................25
Endowment Template B................................................................27
Good Shepherd Episcopal Church, Centennial, CO.................29
St. Stephen’s Episcopal Church, Aurora, CO.............................33
St. Stephen’s Statement of Investment Funds............................35
The Church of Christ the King, Arvada, CO……………..……43
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Sample Endowment Policy “A”
ENDOWMENT POLICY STATEMENT
The mission of the entity is to ___________________________ .
The endowment fund should be used to sustain the entity and to enable it to perform its mission.
With that general purpose in mind, the endowment should be subject to the following policies:
1. To maintain a reserve.
The endowment fund should have liquid assets in an amount sufficient to operate the entity for a
period of six months in case of a significant decline in the entity’s financial resources. For purposes
of this endowment policy statement, “operations of the Entity” includes not only support of the
Entity’s staff and physical plant but also the investment of the Entity’s resources, principally its
staff and volunteers, in supporting local organizations as well as the other programs of the Entity,
including its support to the Parent Organization.
2. To generate earnings in amounts that may be necessary to supplement the Entity’s annual
operating budget.
Accordingly, the endowment should yield a total return that may be used, if necessary, to sustain
the Entity’s operations. Any amount that is not needed to fund the Entity’s operations should re‐
main in the endowment. For purposes of this Policy Statement, the total return which may be
drawn on, if needed, for a calendar year shall be no more than ___% of the value of the assets in
the endowment averaged over a rolling twelve (12) quarter period, ending on September 30 of the
preceding calendar year. The portion of the endowment that is designated, under paragraph 5 be‐
low, for use as a “Special Account” shall not be included in the calculation of total return. By way
of example, the total return that may be drawn on for 2003 shall be calculated based on the average
of the value of the endowment (excluding the portion that has been designated for use by the Spe‐
cial Account) as of the end of each of the twelve (12) calendar quarters ending on September 30,
2002. The amount that may be withdrawn from the endowment shall not exceed ___% of the total
return for the calendar year, calculated according to the preceding sentences. Withdrawals, if any,
from the endowment shall be made in equal quarterly installments.
3. All unrestricted gifts in excess of $________ shall be added to the endowment.
4. The Special Account shall be included in the endowment and shall be a separate designated
fund.
From time to time, the Entity may purchase parcels of real property in strategic areas of the Desig‐
nated Region for eventual sale to new local organizations to be used for their organizational pur‐
poses. In any fiscal year of the Entity, the amount added to the portion of the endowment desig‐
nated for the Special Account shall not exceed ___% of the amount of the endowment’s total return
(as defined in paragraph 2 above) that can be withdrawn from the endowment for a calendar year,
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as set forth in paragraph 2 above. The principal function of the Entity shall be to support existing
local organizations; purchases of real property shall be subordinate to the principal function. Ac‐
cordingly, first priority for expenditure of the Entity’s income shall be providing support to existing
local organizations.
The proceeds of sale of any real property in the Special Account shall be added to the portion of the
endowment that is designated for the Special Account.
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Sample Endowment Policy “B”
Statement of Endowment Policy
Approved by the Vestry
on (Date)
I. Introduction
Throughout its history the Church has received gifts and bequests of funds intended to provide for
the future of the Church. Over time these funds have become known as the Church’s Endowment
Fund (“Fund”). The Vestry of the Church, in its desire to preserve and protect the future of these
funds and any similar funds that might be received in the future, hereby adopts this Statement
of Endowment Policy.
II. Endowment
The Church’s Endowment Fund includes all those funds that are true endowment funds and those
funds which are “quasi‐endowment” funds. A detailed listing of these funds can be found in the
attached Appendix. To clarify, true endowment funds are funds where the donor has stipulated
that the original principal is to be maintained in perpetuity and only the income generated by the
fund can be distributed. Generally, true endowment funds are created and governed by some
form of legal document (i.e., trust agreement). Quasi‐endowment funds are funds that the Vestry
has determined will be retained and invested similar to endowment funds.
It is the policy of the Church that all gifts and bequests in excess of $10,000 that are not a part of
annual giving will become part of the Church Endowment Fund unless otherwise directed by the
donor and will, therefore, become subject to this and any other policies that provide for the distri‐
bution, designation, investment, or other aspects of the Fund.
III. Distributions
Due to the fluctuating nature of the income stream generated by the Church Endowment Fund
and the desire to maintain the purchasing power of the Fund over time, the Vestry of the Church
has adopted and hereby readopts a “Total Return” policy with respect to annual distributions from
the Fund. Simply stated, this policy is to distribute no more that 5% of the average market value of
the Fund on an annual basis.
More specifically, the 5% is calculated before the start of the fiscal year based on the average of the
prior thirteen calendar quarters’ total market value of the Fund ending with September 30. This
way an exact distribution can be used in preparing the coming year’s operating and capital budget.
This distribution policy applies to the entirety of the Church Endowment Fund and in no way
overrides the terms of any true endowment funds. Nor does it preclude any donor from creating
true endowment funds in the future. It does mean that in years when the income generated by true
endowment funds is less that 5%, an amount greater than 5% will be taken from quasi‐endowment
funds.
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Likewise, in years when the income generated by true endowment funds is greater than 5%, it will
mean that an amount less than 5% will be taken from quasi‐endowment funds.
IV. Designation
The amount distributed from the Church Endowment Fund will be used to enhance the Church’s
operating and capital budget beyond what is possible through the monies raised during the annual
stewardship campaign. Specifically, annual distributions from the Church Endowment Fund will be
used for capital maintenance and improvements, and program and ministry needs, including such
things as Christian Education, Music, Worship, and Outreach.
This designation policy applies to the entirety of the Church Endowment Fund and in no way over‐
rides any designations that may have been placed on funds by their donor. Nor does it preclude any
donor from designating funds in the future.
V. Amendment
This policy may be amended by a three‐fourths affirmative vote of the entire Vestry, including the
Wardens and the Rector, at any meeting for which 21 days’ prior written notice outlining the pro‐
posed changes to this policy has been provided to the Vestry. Notice of any approved amendment to
this policy will be provided to the entire congregation on a timely basis except for amendments
dealing with changes to the Appendix.
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DRAFT – 06/24/06
The Good Shepherd Legacy Society
Statement of Endowment Policy
Approved by the Vestry
on xx/xx/xx
I. Introduction
Throughout its history Good Shepherd Episcopal Church, Centennial, Colorado, (the Church) has
received and will continue to receive gifts and bequests of funds intended to provide for the future
of the Church. Over time these funds have become known as the Church’s Endowment Fund
(“Fund”) invested and managed by the Good Shepherd Legacy Society (“GSLS or “Legacy Socie‐
ty”). The Vestry of the Church, in their desire to preserve and protect the future of these funds and
any similar funds that might be received in the future, hereby adopts this Statement of Endow‐
ment Policy.
II. Endowment
The Church’s Endowment Fund includes all those funds that are true endowment funds and those
funds which are “quasi‐endowment” funds. A detailed listing of examples of these two types of
funds can be found in the attached Appendix “A”. To clarify, true endowment funds are funds
where the donor has stipulated that the original principal is to be maintained in perpetuity and on‐
ly the income generated by the fund can be distributed. Generally, true endowment funds are cre‐
ated and governed by some form of legal document (i.e., trust agreement). Quasi‐endowment
funds are funds that the Legacy Society has determined will be retained and invested similar to
endowment funds.
In efforts to enhance the manageability of any designated funds received, in the event donor desig‐
nated endowments are insufficient at the time of the gift to meet the intended purpose, the gift
shall be retained in the Endowment Fund and earnings to the extent of the “Total Return” referred
in Section IV shall be allocated to the designated endowment. However, if after five (5) years the
accumulated designated gift, earnings and additional gifts received designated for the same pur‐
pose have not been received to carry out the donor’s intended purpose, these designated funds
shall be re‐characterized as undesignated funds.
III. Investments
Investments shall be made at the Colorado Episcopal Foundation unless the GSLS and Vestry con‐
cur that a different investment vehicle is preferable based upon sound investment criteria. Moreo‐
ver, all endowment funds shall accumulate until they reach an amount of $100,000.00. All gifts
and bequests in excess of $10,000 that are not a part of annual giving will become part of the
Church Endowment Fund unless otherwise directed by the donor and will, therefore, become sub‐
ject to this and any other policies that provide for the distribution, designation, investment, or oth‐
er aspects of the Fund.
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IV. Distributions
Concerning the distribution of the income from endowment funds, the Legacy Society shall deter‐
mine what is principal and income according to generally accepted accounting procedures. Due to
the fluctuating nature of the income stream generated by the Church Endowment Fund and the de‐
sire to maintain the purchasing power of the Fund over time, the Legacy Society has adopted a
“Total Return” policy with respect to annual distributions from the Fund. Simply stated, this policy
is to distribute no more than 5% of the average market value of the Fund on an annual basis.
More specifically, the 5% is calculated before the start of the fiscal year based on the average of the
prior thirteen calendar quarters’ total market value of the Fund ending with September 30. This way
an exact distribution can be used in preparing the coming year’s operating and capital budget.
This distribution policy applies to the entirety of the Church Endowment Fund and in no way over‐
rides the terms of any true endowment funds. Nor does it preclude any donor from creating true en‐
dowment funds in the future. It does mean that in years when the income generated by true endow‐
ment funds is less than 5%, an amount greater than 5% will be taken from quasi‐endowment funds.
Likewise, in years when the income generated by true endowment funds is greater than 5%, it will
mean that an amount less than 5% will be taken from quasi‐endowment funds.
V. Designation
The amount distributed from the Church Endowment Funds shall be available to the Vestry annual‐
ly to accomplish the following purposes:
a. For capital improvements, debt reduction or the building program of the parish or
to be held in escrow or spent for major maintenance of this parish;
b. For scholarships or grants to members of the parish who demonstrate need for the
purpose of attending college, seminary, nursing or medical school; for special medical
or psychological needs; for church related camping or leadership conferences; or for
training which enables members of this congregation to grow in the Christian faith and
service to God’s people
c. For outreach into the community, including but not limited to, social service agen‐
cies, institutions and agencies to which this parish relates, and to special programs
designed for those persons in our parish area who are in spiritual and/or economic
need; and
d. For projects of the Episcopal Church at home and overseas, including but not lim‐
ited to, grants to the Domestic and Foreign Missionary Society of the Protestant Epis‐
copal Church in the United States of America for new mission development, profes‐
sional leadership, educational ministries, and stewardship.
e. This designation policy applies to the entirety of the Church Endowment Fund and
in no way overrides any designations that may have been placed on funds by their do‐
nor. Nor does it preclude any donor from designating funds in the future
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VI. Use of Principal
Principal may be taken from endowments only for emergency parish needs by a unanimous vote of
the GSLS and a unanimous vote of the full Vestry.
VII. Conflicts of Interest and Confidentiality
The parish’s affirmative policy shall be to require that all actual or potential conflicts of interest be
disclosed promptly and fully to the Vestry and all other appropriate parties. This policy shall apply
to all Legacy Society members appointed by or reporting to the Vestry, and all employees having
discretionary management authority. When any such person has an actual or potential conflict of
interest, as defined by the written policies of the Vestry and/or COLO. REV. STAT. ʹ 7‐128‐501, he or
she shall make a prompt and full disclosure of such interest to the Vestry prior to its acting on the
matter. Such disclosure shall include any relevant and material facts known to such person about
the person’s relationship or interest and about the matter or transaction which might reasonably be
construed to be adverse to the parish’s interest.
The body to which such disclosure is made shall thereupon determine, by a majority vote, whether
the disclosure shows that a conflict of interest exists or can reasonably be construed to exist. If a con‐
flict is deemed to exist, such person shall not vote on, nor use any personal influence on, nor partici‐
pate (other than to present factual information or to respond to questions) in, the discussions or de‐
liberations with respect to such contract or transaction. Such person may be counted in determining
whether a quorum is present but may not be counted when the Legacy society votes on the transac‐
tion. The minutes of the meeting shall reflect the disclosure made; the vote thereon; where applica‐
ble, the abstention from voting and participation of the interested person; and whether a quorum
was present.
All persons who may serve the Parish as clergy, or as a Vestry Member, Warden, committee mem‐
ber, employee, or agent shall recognize the confidentiality of information provided to such person in
his or her official capacity. Information which may be considered confidential shall include financial
information of individuals or families, medical or psychological information, information concern‐
ing personal or spiritual history, legal information, and any other information which a reasonable
person would consider confidential. The confidentiality of such information shall be maintained
with the care that a reasonably prudent person would utilize to maintain the confidentiality of his/
her own confidential information. This provision shall not be interpreted to prohibit the sharing of
such information among such clergy, staff, agents or volunteers who have a reasonable need to
know such information to carry out their duties on behalf of the parish.
VIII. Amendment
This policy may be amended by a three‐fourths affirmative vote of the entire Vestry, including the
Wardens and the Rector, at any meeting for which 21 days’ prior written notice outlining the pro‐
posed changes to this policy has been provided to the Vestry. Notice of any approved amendment to
this policy will be provided to the entire congregation on a timely basis (at least at the Annual Meet‐
ing) except for amendments dealing with changes to the Appendix.
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ESTABLISHING/MARKETING
YOUR ENDOWMENT*
An endowment is the accumulation of the gifts of assets made to the parish for permanent manage‐
ment and from which only a portion of the value of the gift is used. Strictly speaking, endowment
funds are invested for the long term and only the earnings from the principal can be used.
Successful Parish Funding
A parish’s endowment is but one aspect of total financial resource development that, in most par‐
ishes, is the least understood and the least emphasized in the overall funding of the parish. The sev‐
en elements of successful parish funding include:
1. Offerings
2. Annual Campaigns
3. Endowment
4. Special Appeals
5. Grants that the Parish May Receive for Specific Ministries
6. Capital Campaigns
7. 501(c)3 Organizations
Parish Endowments Blend Three Ingredients for Best Results
Theology ‐ Affirmed by the clergy, lay leadership and congregation; the parish leaders and con‐
gregation have a theological and philanthropic understanding of an endowment and its uses.
Management ‐ Managed in a social and fiduciary responsible manner; the parish has established
sound and well‐understood investment policies
Development ‐ Marketing and educational programs are in place and functioning.
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KEY STEPS IN BUILDING
AN ENDOWMENT*
1. Develop a Long Range Plan/Mission for the Parish
If your parish does not have a current mission statement, one should be adopted. The purpose
of a mission statement is to state what the parish is in business to do. It should specify funda‐
mental reasons for the parish’s existence, establish the scope of parish activities, and provide
overall direction for the parish. The mission statement should provide the basis for the Endow‐
ment Guidelines, particularly those regarding distribution.
2. Establish endowment structure with functioning governance and management documents
guiding the operations
A. Endowment Bylaws
As bylaws will be specific to each church, the Colorado Episcopal Foundation can work with
you to develop your bylaws, and will be glad to provide you with sample parish bylaws on re‐
quest.
A new parish bylaw should be created to deal with the Endowment Committee. The following
is a guideline that each church will alter to suit its own needs.
We recommend you include the following:
Purpose: All bequests received by [Parish Name] will be under the direction of an Endowment
Committee whose purpose shall be to manage, invest and raise endowments within [Parish
Name].
Composition: The Vestry will appoint a committee, being communicants in good standing,
pledges of record and regular in attendance to serve on the Endowment Committee. The Ves‐
try should decide if Vestry members should be members of the Endowment Committee.
Terms: Terms should be limited to a specific number of years. The initial committee should be
set up to have members rotate off in such a manner that new member(s) are added each year.
Meetings: Once the Wills Program has been completed, the Endowment Committee should
meet at least once a year. A report of endowments should be made to the parish at the annual
meeting.
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©2013 Colorado Episcopal Foundation
Removal: Include a provision for removing members, if necessary.
Bonding: The Committee should be bonded for whatever amount the Vestry determines.
Distribution: Include a statement that refers to how the income shall be distributed as defined
in the bylaws.
B. Authorization And Approval
The Vestry should adopt the endowment bylaws for incorporation in the parish bylaws and
affirmed by the congregation at the parish annual meeting.
C. Endowment Committee Appointed
The Endowment Committee appointed by the Vestry, will be the group responsible for setting
up and managing the program.
The Endowment Committee will:
Establish roles for the Committee.
Be responsible for implementing a Planned Giving program, such as the Wills Program or a
similar program in the parish (see “Establishing a Wills Program” on page 50).
Work with the finance committee to see that information on the program is included in all
financial plans, programs and literature.
Work with the newsletter editor, bulletin editor, etc. to see that information in the program
is included.
Remind the Vestry and Rector that each of them should have a will that includes the parish.
Oversee the management of the endowment funds through sound spending and investment
policies
3. An Endowment Marketing program
The endowment marketing effort should be focused on accomplishing the following goals.
The staff, Vestry and Endowment Committee members should seek a consensus about the goals at
the outset. The goals should include the following:
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©2013 Colorado Episcopal Foundation
To give visibility to the parish and the people it serves.
To increase parish awareness of the endowment and its purposes.
To create the expectation that donors will make bequests and other planned and current
gifts.
To disseminate information about charitable gift provisions in wills and estate plans.
To generate donor inquiries for endowment and planned giving information and services.
Spur the donor to say, “Sounds interesting. Tell me more.”
To involve donor and prospects through their participation in testimonials or other mar‐
keting activities.
To identify prospective donors — for the endowment and current programs.
To educate prospective donors about the various ways to make endowment gifts and the
implications of each.
To motivate prospective donors to take action .
To provide helpful information to professional advisors and increase their knowledge of
the parish’s endowment program
To recognize and thank the parish’s endowment donors and their advisors.
To encourage repeat gifts to endowment.
*Some portions of this article are excerpts from Ernest Q. Petrey, Jr.’s Show It & Grow It: Marketing Your Endow‐
ment. Petrey, the CEO of Ardleigh Minerals, Inc. has served in various leadership positions with the Diocese of
Ohio, St. Paul’s, Cleveland Heights, Ohio and with the Consortium of Endowed Episcopal Parishes.
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©2013 Colorado Episcopal Foundation
GIFT ACCEPTANCE GUIDELINES & SAMPLE
Gift Acceptance Guidelines..........................................................51
Episcopal Diocese of Hawaii........................................................53
50
©2013 Colorado Episcopal Foundation
51
©2013 Colorado Episcopal Foundation
Key Points to Consider when Drafting a Gift Acceptance Policy
• Gifts accepted and gifts not accepted:
1. Listing of gifts accepted and not accepted.
2. Mention unrestricted vs. restricted gifts. How are restricted gifts handled? May
want to have a blanket statement that all restricted gifts must be approved by the
vestry before accepting.
3. Gifts that Vestry has given authority to accept without receiving transaction spe‐
cific approval (cash, publicly traded stocks, etc).
4. Gifts that Vestry/other committee must approve before accepting (real estate, etc.).
5. Planned Gifts – probably only want to “accept” bequests and beneficiary designa‐
tions. May want to mention CEF as source for other planned gifts (gift annuities,
Pooled Income Fund, etc.).
• Criteria and specific guidelines for accepting gifts – especially important when
accepting real estate, etc.
• Valuation guidelines – who is responsible for assigning value, who pays for
appraisals, etc.
• Use of legal council.
• Acknowledgment to donor.
• Use of gifts/proceeds – over a certain $ amount, proceeds into endowment, etc (CEF poli‐
cy is anything over $1,000 goes into endowment). Then, mention in endowment policy how
money is to be disbursed and what it can be spent on. If not in endowment, then how is it
spent? Also, may want to include general guidelines on when/how to sell non‐cash gifts.
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©2013 Colorado Episcopal Foundation
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©2013 Colorado Episcopal Foundation
Gift Acceptance Policy ‐ Episcopal Diocese of Hawaii
X. PROCEDURES FOR ACCEPTED PLANNED GIFTS
A. Policy
It is the general policy of the Diocese that all planned gifts received, large or small, will be added
to an endowment. Names of donors to this fund will be recorded and given proper acknowledge‐
ment. Major gifts, in excess of $100,000, will be used to establish named funds within the endow‐
ment. The investment of any unrestricted gifts received by the Diocese will be governed by an in‐
vestment policy which is established by the Diocesan Council and reviewed by them from time to
time.
B. Gifts Designated as to Purpose
Some gifts will be designated as to their purpose by prior agreement with the donor. Such gifts
shall be used for the designated purpose, as long as such purpose exists and is consistent with the
general purposes of the Diocese. The agreement with the donor should include language which
allows the use of the gift to change if circumstances so warrant.
C. Gifts Restricted As to Use of Principal
Donors may wish their gifts to be used as endowments which are restricted (i.e. “no invasion of
principal”). Such restrictions shall be honored using existing Hawai`i State Law and accepted en‐
dowment fund management principles as guidelines.
D. Undesignated Gifts
1. All funds received by the Diocese that are not designated for specific purposes shall be
used for general purposes of the Diocese. These purposes may change from year to year
based on the needs of the Diocese, as determined by the Diocesan Council.
2. It is strongly recommended that the Diocesan Council establish goal oriented funds with‐
in the endowment e.g. Christian Education, Outreach, Capital Improvement etc. as a way to
foster gifts and meet the needs of the Diocese.
3. In no case shall planned gifts be taken into working capital, i.e. the
operating budget.
E. Unrestricted Gifts
Any gift received where the donor specifically states that the principal may be used for any pur‐
pose will be placed in a separate fund in the endowment (or in a named fund if the gift exceeds
$100,000) which allows the use of the principal. Sound endowment fund investment management
principles shall be the governing policy.
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©2013 Colorado Episcopal Foundation
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©2013 Colorado Episcopal Foundation
3. GIVING IT SHAPE
Enrollment Form, St. Stephen’s, Aurora, CO...………………..53
Informational Brochure (Sample)......…………………………..55
Newsletter Articles/Ads................................................................57
One‐Liners………………...…………….......................................59
56
©2013 Colorado Episcopal Foundation
57
©2013 Colorado Episcopal Foundation
TH
E E
NV
ISIO
N L
EG
AC
Y,
ST.
ST
EP
HE
N’S
, AU
RO
RA
O
ur H
oly
Pla
ce
E
nro
llmen
t F
orm
I w
ant t
o be
com
e a
mem
ber
of th
e E
nvis
ion
lega
cy
I ha
ve r
emem
bere
d th
e ch
urch
: In
my
Last
Will
and
Tes
tam
ent
In m
y qu
alifi
ed r
etire
men
t pl
an
In a
life
insu
ranc
e po
licy
Cha
ritab
le G
ift A
nnui
ty
Cha
ritab
le R
emai
nder
Tru
st
Oth
er p
leas
e de
scrib
e) _
____
____
____
____
____
__
(Che
ck a
ll th
at a
pply
) I u
nder
stan
d th
at m
y na
me
may
be
reve
aled
as
a m
embe
r of
th
e S
t S
teph
en’s
Env
isio
n Le
gacy
for
the
pur
pose
of
reco
gniti
on a
nd to
hel
p en
cour
age
othe
rs to
bec
ome
mem
bers
: Y
es, y
ou m
ay u
se m
y na
me
No,
ple
ase
keep
my
gift
anon
ymou
s N
ame_
____
____
____
____
____
____
___
____
____
____
__
Pho
ne__
____
____
____
____
_ A
ddre
ss__
____
____
____
___
____
____
___
____
____
____
_ C
ity _
____
____
____
____
____
Sta
te__
___
Zip
____
____
E
mai
l Add
ress
___
____
____
____
____
____
____
____
____
____
_ S
igna
ture
. ___
____
____
____
____
____
____
_Dat
e __
___
____
__
TH
E E
NV
ISIO
N L
EG
AC
Y,
ST.
ST
EP
HE
N’S
, AU
RO
RA
O
ur H
oly
Pla
ce
Wh
at is
th
e E
nvi
sio
n L
egac
y?
A g
roup
of p
aris
hion
ers
who
hav
e re
mem
bere
d S
t. S
teph
en’s
in th
eir
will
, life
insu
ran
ce, I
RA
or
othe
r re
late
d le
gal o
r fin
anci
al in
stru
men
t. H
ow
do
I b
eco
me
a m
emb
er?
In
clud
e th
e ch
urch
in a
ny o
f the
abo
ve a
nd a
dvis
e th
e E
ndow
men
t Com
mitt
ee o
r th
e R
ecto
r th
at y
ou
have
don
e so
. You
do
not h
ave
to r
evea
l the
siz
e of
yo
ur r
emem
bran
ce, a
ny a
mou
nt w
ill q
ualif
y.
Wh
o is
a F
ou
nd
ing
Mem
ber
?
Any
one
who
join
s th
e E
nvis
ion
Leg
acy
on o
r be
fore
M
ay 3
1 st,
2007
Ho
w d
o I
mo
dif
y a
will
or
oth
er in
stru
men
t fo
r th
is
pu
rpo
se?
Y
ou c
onta
ct y
our
atto
rney
or
finan
cial
adv
isor
. The
C
olor
ado
Epi
scop
al F
oun
datio
n ca
n he
lp w
ith th
is
effo
rt.
If I
hav
e al
read
y re
mem
ber
ed S
t. S
tep
hen
’s in
so
me
way
, wh
at s
ho
uld
I d
o?
F
ill o
ut th
e E
nrol
lmen
t For
m a
nd r
etur
n it
to th
e ch
urch
offi
ce.
58
©2013 Colorado Episcopal Foundation
59
©2013 Colorado Episcopal Foundation
Rem
embe
r ou
r F
utur
e T
oday
1.
Bei
ng a
wit
ness
of J
esus
Chr
ist
2.
Cre
atin
g sa
cred
spa
ces
3.
Cre
atin
g a
lovi
ng a
nd
thri
ving
com
mun
ity
4.
Ref
lect
ing
our
valu
es th
roug
h
plan
ned
dist
ribu
tion
of
mat
eria
l goo
ds
Fo
ur
Leg
aci
es
of
the
Fa
ith
ful.
..
Ret
urn
form
to th
e C
hurc
h O
ffic
e, R
oann
e R
oss,
Den
nis
Log
an, o
r M
arle
ne L
ogan
Re
me
mb
er
ou
r Fu
ture
To
da
y
St.
Jos
eph
’s
Leg
acy
Soc
iety
Rem
emb
er o
ur
Fu
ture
T
od
ay
To
crea
te y
our
own
plan
ned
givi
ng s
cena
rio,
go
to
ww
w.c
oef.
gift
lega
cy.c
om
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©2013 Colorado Episcopal Foundation
I w
ant t
o be
com
e a
mem
ber
of S
t. Jo
seph
’s L
egac
y S
ocie
ty
I ha
ve r
emem
bere
d th
e ch
urch
:
C
heck
all
that
app
ly
In
my
Las
t Will
and
Tes
tam
ent
In
my
qual
ifie
d re
tire
men
t pla
n I
n a
life
insu
ranc
e po
licy
Cha
rita
ble
Gif
t Ann
uity
C
hari
tabl
e R
emai
nder
Tru
st
Oth
er (
plea
se d
escr
ibe)
__
____
____
____
____
____
____
____
____
__
I un
ders
tand
that
my
nam
e m
ay b
e re
veal
ed a
s a
mem
ber
of
the
St J
osep
h’s
Leg
acy
for
the
purp
ose
of r
ecog
nitio
n an
d to
hel
p en
cour
age
othe
rs to
bec
ome
mem
bers
: Y
es, y
ou m
ay u
se m
y na
me
No,
ple
ase
keep
my
gift
ano
nym
ous
Nam
e___
____
____
____
____
____
____
____
____
____
___
Phon
e___
____
____
____
____
____
____
____
____
____
___
Add
ress
____
____
____
____
____
____
____
____
____
____
_ C
ity _
____
____
____
____
____
Sta
te__
___
Zip
____
____
E
mai
l Add
ress
___
____
____
____
____
____
____
____
____
Si
gnat
ure.
___
____
____
____
____
____
____
____
____
____
D
ate
____
____
____
____
____
____
____
____
____
____
___
E
nrol
lmen
t for
ms
rece
ived
on
or b
efor
e
Dec
embe
r 31
st, 2
008
wil
l be
co
nsid
ered
Fou
ndin
g M
embe
rs.
Wh
o is
a F
oun
din
g M
embe
r?
Any
one
who
join
s th
e St
.
Jose
ph’s
Leg
acy
Soc
iety
on
or
befo
re D
ecem
ber
31st
, 200
8
How
do
I m
odif
y a
wil
l or
oth
er
inst
rum
ent f
or th
is p
urp
ose?
C
onta
ct y
our
atto
rney
or
fi
nanc
ial a
dvis
or. T
he C
olor
ado
Epi
scop
al F
ound
atio
n ca
n al
so
help
wit
h th
is e
ffor
t. If
I h
ave
alre
ady
rem
embe
red
S
t. Jo
seph
’s in
som
e w
ay,
wh
at s
hou
ld I
do?
F
ill o
ut th
e E
nrol
lmen
t For
m
and
retu
rn it
to th
e ch
urch
of
fice
.
Wh
at is
the
St.
Jose
ph’s
L
egac
y S
ocie
ty?
A g
roup
of
pari
shio
ners
who
ha
ve r
emem
bere
d S
t.
Jose
ph’s
in th
eir
wil
l, li
fe
insu
ranc
e, I
RA
or
othe
r
rela
ted
lega
l or
fina
ncia
l in
stru
men
t. H
ow d
o I
beco
me
a m
embe
r?
Incl
ude
the
chur
ch in
any
of
the
abov
e an
d ad
vise
the
L
egac
y S
ocie
ty C
omm
itte
e th
at y
ou h
ave
done
so
by
fill
ing
out t
he E
nrol
lmen
t F
orm
and
ret
urni
ng it
to th
e ch
urch
off
ice.
You
do
not
have
to r
evea
l the
siz
e of
you
r re
mem
bran
ce, a
ny a
mou
nt
wil
l qua
lify
.
St.
Jose
ph
’s L
egacy
Soci
ety
Ret
urn
form
to th
e C
hurc
h O
ffic
e, R
oann
e R
oss,
Den
nis
Log
an, o
r M
arle
ne L
ogan
Rem
emb
er o
ur
Fu
ture
To
da
y
St.
Jos
eph
’s L
egac
y S
ocie
ty
En
roll
men
t F
orm
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©2013 Colorado Episcopal Foundation
Ad for Saint John’s Cathedral’s Legacy Society published in Newsletter
Includes criteria for membership.
62
©2013 Colorado Episcopal Foundation
Article Published in St. Joseph’s Episcopal Church, Lakewood, CO Newsletter
Announcing formation of the Legacy Society
The St. Joseph Legacy Society
By Roanne Ross
Imagine that! Our very own Legacy Society that will help support the future of our beloved church
after we are no longer on this earth (gulp, die). It’s hard to write it, “die,” let alone say it, but it’s an
inescapable reality we all have to face. Sorry, I’m not preaching, just talking to myself and working
on being neutral and accepting that some day this world will actually go on without me. Imagine
that!
So... I tithe to St. Joseph now... Why not continue to give after I die? (gulp) So I’m in the process of
rewriting a will (gulp), and have happily changed the original one to leave to St. Joseph the same
percent I’ve been tithing for years. And it feels great! I don’t know why I didn’t do that the first
time around... It just never occurred to me that I could. And maybe it hasn’t occurred to you either.
Right?
So sometime in June, someone from the Colorado Episcopal Foundation will come to St. Joseph’s
between the two Sunday Services to speak to us about being a part of a St. Joseph Legacy Society.
Simply consider giving something to your church when you die (gulp), in your will or as part of
your estate planning. I don’t understand all the details, but THEY do, and they have helped set up
Legacy Societies in many churches in our diocese, including the Cathedral. All I ask you to do is
COME AND SEE the possibilities available to us to continue giving after we die. (No gulp this
time... Wow!)
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©2013 Colorado Episcopal Foundation
One‐Liners
These could be used in newsletters or bulletins as reminders to the congregation to consider the
church when they make or update their will. Make up your own! If you come up with any really
good ones, please let us know.
A WILL is a creative vehicle through which to make thoughtful gifts.
Not only wealthy people need a Will. Even if your estate is modest, your heirs few, your wishes
simple, you too can make a will!
Wills are not restricted to gender. Women live longer than men, earn more than ever before and
control approximately 2/3 of all assets in the United States.
By making a WILL you:
Name guardians for your children
Control the distribution of your assets
Select who will administer your assets
Are a good steward
Remember to include the work of the church in your will.
WRITE YOUR WILL TODAY!
When is the best time to make a WILL? TODAY!
Your WILL is an opportunity to honor those who have given meaning and purpose to your life.
A steward by definition is a manager. Making a WILL is an act of stewardship.
Make sure you know who your heirs will be—make a will!
Who needs a WILL? Every adult who owns anything and cares what happens to it.
When was the last time your WILL had a check‐up?
Who would care for your children if they lost both parents? Through your WILL, you can de‐
clare your choice of guardians.
The cost of making a WILL may be the best bargain you ever receive. It costs little compared to
what you can save your heirs.
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©2013 Colorado Episcopal Foundation
Are you leaving a legacy of “red tape” for your heirs? A WILL can cut through confusion and
help avoid misunderstandings.
Your WILL can be a testimony of your faith. Consider leaving a gift to your church.
Your WILL speaks for you after your death. What does yours say about your Christian commit‐
ment?
Be a WILLING Christian. Remember the church.
Through your WILL you can support:
The St. Francis Center Community Ministry
Your Parish The Colorado Episcopal Foundation
Your church music program Your church altar guild
Your WILL is your final opportunity to practice good stewardship.
Does your WILL reflect your will, God’s will, or the state’s will? If you do not have a WILL, the
state will control your assets, distribute your property, and decide on guardians for your chil‐
dren.
Through an annuity provision in your WILL, you can provide payments for life to a relative or
friend and also make a gift to your church. Your dollars do double duty!
A WILL can safeguard your estate from unnecessary taxes and court costs.
Your WILL should be reviewed every few years.
Is your out‐of‐state WILL valid in Colorado? Probably, but it is a good idea to have your WILL
checked by an attorney when you move to another state.
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©2013 Colorado Episcopal Foundation
4. ENROLLING FOUNDING MEMBERS/
5. ENROLLING NEW MEMBERS AND
MAINTENANCE (ON‐GOING)
Status Report........................................................………………..63
66
©2013 Colorado Episcopal Foundation
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©2013 Colorado Episcopal Foundation
QUARTERLY STATUS REPORT
Fax: 303.534.6012 or ANY QUESTIONS?
Mail: Colorado Episcopal Foundation Call 303.534.6778
1300 Washington St.
Denver, CO 80203
PLEASE PROVIDE THE FOLLOWING INFORMATION:
YEAR_______________________________ QUARTER_______________________
NOTE: Include photocopies of your New Member Enrollment Form with this report to reduce errors in re‐
producing information.
Please list the names of Legacy Society Members who have died this quarter.
Please list the names of Legacy Society Members whose status (e.g. divorced) and/or contact information has changed
this quarter.
Form can be downloaded at www.coef.org/resource/form
New Member Name/s
Gift Vehicle
Beneficiary/ies Enrollment
Date #
Enrollees 1.
2. 3.
1. 2. 3.
1. 2. 3.
1. 2. 3.
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©2013 Colorado Episcopal Foundation
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©2013 Colorado Episcopal Foundation
1 3 0 0 W A S H I N G T O N S T D E N V E R , C O 8 0 2 3
P H O N E : 3 0 3 . 5 3 4 . 6 7 7 8 T O L L F R E E : 8 8 8 . 5 4 3 . 8 5 3 2
F A X : 3 0 3 . 5 3 4 . 6 0 1 2
O F F I C E @ C O E F . O R G W W W . C O E F . O R G
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©2013 Colorado Episcopal Foundation