Free Will Baptist Foundation has a unique ministry among the national departments: we exist to serve other ministries. The composition of our board reflects this role. Our board is made up of the nine members elected by the National Association plus the directors of each of our national departments.
We serve by providing financial management services. These services are provided to each of these departments through revocable trusts, endowments and planned gifts. However, our ministry is not limited to the national departments. We also manage trusts for many local, state and regional ministries as well. A brief description of these trusts follows.
In ancient Israel, the farmland God divided among the Hebrew tribes was never sold. In times of deepest poverty a family could give up the land under a "lease." A "leaser/purchaser" bought the use and fruit of the land, not the land itself. During Jubilee, all land was restored to the original family owners. Endowments are rooted in this Old Testament principal of "live off the land but do not consume it."
Like the promised land, endowment gifts are preserved so that the principal is not consumed. The earnings are "harvested" to support a specific Free Will Baptist ministry(ies). The original gift remains in place perpetually to earn ministry income
Tithing is taught throughout the Bible and most folks understand the concept in relation to their weekly paycheck. Many have not grasped the idea that tithing also applies to the appreciated value of the assets God has given us. Some manage to do this by leaving a tithe of their estate to the Lord's work in their estate plan.
A planned gift may enable believers to give these appreciated type gifts during their lives while still retaining much of the economic benefits. While planned gifts come in many varieties, all share three characteristics. The donor receives a partial income tax deduction, an income stream for his and the spouse's lifetime in a joint agreement and the balance of the trust at death transfers to the chosen ministry. Agreements may be funded with cash, real estate, stocks, bonds or other assets.
Money Management (Revocable) Trusts
The Foundation offers Money Management trusts that are fully revocable for a church or organization's excess funds. This agreement is also available to individuals and families with some restrictions. The earnings rate varies depending on market conditions but has consistently exceeded the rate of inflation through the years.
Free Will Baptist Foundation is here to serve you. Perhaps we can help you accomplish what God would have you do with your assets. Please contact our office toll free 877-336-7575 or email us at [email protected] if we can help you or your church in any of these areas.
Money Management Trusts for Individuals Estate Plans (Revocable Living Trust)
In 2013, the Foundation began offering a comprehensive estate plan for all Free Will Baptist families. The centerpiece of the plan is a revocable living trust that will enable a family to avoid probate and the loss of 5-7% of their assets in the process. It includes all medical directives, power of attorney documents and guardianship papers. As part of the Free Will Baptist Estate Plan, we will call every year to make sure your plan stays up-to-date. We will also assist the surviving spouse when death comes, and will assist the family when both spouses have died, making sure your wishes are honored. Through this plan, the Foundation will assist you and be with you every step of the way.