MISSION OF FINANCIAL DEVELOPMENT TEAM

I.  PURPOSE OF COMMITTEE - To prudently manage the Shiloh Congregation’s financial assets.

II. SCOPE OF THE COMMITTEE’S ACTIVITIES - INCLUDES:

1. Evaluating Shiloh’s financial investment instruments, considering parameters such as rate of return, risk appropriate for the organization, matching investment horizon (timing need) vs. potential investment value fluctuation.

2. Establishing where significant and/or unusual financial gifts such as bequeaths, stocks, etc. should reside until needed.

3. Providing knowledge to Congregation how they could potentially improve Shiloh’s long-term financial resources through instruments as memorial endowment funding, wills, trusts, etc.

4. Clarifying the different financial funds and instruments used by Shiloh.

5. Advises Treasurer on appropriate account segregation and financial instruments appropriate for the various Shiloh funds.

6. Evaluate loans appropriate for Shiloh as needs arise.

III. REPORTS TO Shiloh Board of Deacons quarterly or as appropriate when financial instrument recommendations are needed.

IV.  GOALS

A. Invest Shiloh resources in financial instruments expected to achieve returns at or above the norm for their financial risk category, considering items such as historical performance, stability of financial institution, etc.

B. Invest in financial instruments appropriate for the time horizon of when the funds are expected to be needed.

C. Improve the long term financial stability of Shiloh, helping to assure funding is available when needed.

 

OPTIONS FOR MEMORIAL GIVING

Want to donate to a memorial or to honor someone? Here’s help deciding which church fund is appropriate. Shiloh offers the following opportunities for you:

Endowment Fund – The initial amount donated here will not be spent. Shiloh invests the money, generally in CD’s. The interest is used to pay Shiloh’s general expenses and helps to maintain Shiloh’s viability into the future.

Memorial Gifts Fund – Recognizes someone or an event by purchasing a specific item you feel Shiloh needs, e.g., new piano, carpet, paraments, etc.

Undesignated Fund – You may have no specific item in mind but want to help Shiloh. The Stewardship Committee and Consistory will decide how best to use this fund.

Educational Loan Fund – Gifts here provide low-interest loans to Shiloh students to further their education.

Temporary Specific-Use Funds – As needs arise at Shiloh, various funds are established until the item is paid for. Currently, funds exist for stained glass windows, new bus, choir robes, and Contingency Fund Memorial Bricks.

On-Going Specific Needs – You may donate to specific uses, as Youth Activities, Bus Repairs, Contingency Fund, etc.

Shiloh provides the many ways above for you to remember someone as you help your church. If you have questions, contact the Financial Development chair, other committee members, or Church Office.

 

WAYS YOU CAN REMEMBER THE CHURCH IN

YOUR PERSONAL FINANCIAL PLANNING

1. BEQUESTS

A bequest is a gift you pass to a person or entity through your will. Through your Last Will and Testament, you can choose to continue your support of and involvement with this congregation far beyond your own lifetime. For more information on bequests, click on the link here: Bequests

2. LIFE INSURANCE

If you’re looking for a way to benefit yourself with possible increased cash flow and tax savings and benefit Shiloh UCC, consider a gift of life insurance. The owner of a life insurance policy may find that the original purpose for the protection no longer applies. It may have been purchased to provide financial security for a spouse now deceased, to educate children now grown and self-sufficient, or to furnish liquidity for estate taxes since reduced or otherwise avoided. Thus, life insurance is increasingly being used as a tool in planning charitable gifts. For more information, click on the link here: Life Insurance

3. GIFT ANNUITIES AND CHARITABLE REMAINDER TRUSTS

Gift Annuities are an easy solution if you want to receive lifetime income and provide support for the future mission of Shiloh. A Gift Annuity is an irrevocable agreement in which a donor transfers assets (such as securities or cash) to the UCC in return for lifetime annual income of a fixed amount. Thereafter the remaining principal benefits would go to Shiloh, or another UCC-related entity of your choosing. For more information, click here: Gift Annuities & Charitable Remainder Trusts

 

MEMORIAL EDUCATION FUND

Shiloh has a Memorial Education Fund that loans up to $3,000/yr. to high school graduates to further their education. Loans are made without interest until 1 year after graduation or until student leaves school, whichever occurs first. Monthly payments begin then to pay 4% interest plus principal. Student applicants must be Shiloh members. Submit Loan Application Form by June 1 for academic year beginning September. Further details are given in the Shiloh Memorial Education Fund Policy, viewed when you click on the underlined link here.

 

STOCK HOLDING POLICY

Shiloh UCC may receive investment stocks from donors. The Shiloh Stock Holding Policy describes how these stocks are handled.