The greatest wealth transfer in U.S. history is underway. A recent study from the Boston College Center on Wealth and Philanthropy projects $59 trillion will be passed down to heirs, charities and taxes between 2007 and 2061. Other studies indicate that this number may be larger.
“When you localize the $59 trillion, a conservative estimate suggests that the net worth of United Methodist baby boomers in Georgia is $75 billion,” said Rev. Charles (Chuck) W. Savage II, president/CEO of the Georgia United Methodist Foundation. “If United Methodists in Georgia were to leave a final tithe of 10 percent or $7.5 billion to church endowments, it would generate $375 million each year for ministry until “Jesus comes back.” This number is based on a spending policy that has been set at five percent.”
How can you ensure your church doesn’t miss out on this opportunity? “Every church should establish a planned giving initiative,” said Foundation Director of Fundraising Services Nancy Young. “Although developing a planned giving initiative may seem like a daunting task, our Legacy Ministry Webinar makes it easy by providing turnkey documents for all areas of planned giving and a development process that is simple to follow. To begin the Legacy Ministry Webinar, recruit your Ad Hoc Committee and contact the Foundation as soon as possible.”
What are the consequences if your church does not implement a planned giving initiative? “Without one, the church robs their members of the opportunity to give one of the most significant gifts of their life – their legacy to be used to further the mission and vision of the church past their lifetime,” Nancy said. “Additionally, the church will not have as many financial resources to expand ministry to make disciples for Jesus Christ for the transformation of the world.”
For more information on establishing a planned giving initiative or participating in the Legacy Ministry Webinar, please contact Foundation President/CEO Rev. Charles (Chuck) W. Savage II at 770-449-6726, 877-220-5664 or firstname.lastname@example.org or Foundation Director of Fundraising Services Nancy Young at 678-708-6601 or email@example.com.
The Georgia United Methodist Foundation helps United Methodist churches, ministries and individuals in Georgia sow seeds of faith for future generations by providing planned giving, investment, lending, fundraising and endowment services. The Foundation also gives grants and scholarships. For more information, call 770-449-6726 or 877-220-5664, e-mail firstname.lastname@example.org or visit gumf.org or gumfplannedgiving.org.