ENDOWMENT FUND

History of Myers ParkBaptist Church

Myers Park Baptist Church was founded in 1943 by a visionary group of Baptist families, possessed with a dream to build a unique church that had a high priority for children’s Christian Education. The founders’ vision, commitment and generosity laid the foundation of a church that has become a congregation known nationally as seekers of truth, justice and growing faith.

The cornerstones of ministry at Myers Park Baptist Church are: O Worship, as the core of congregational life, carefully crafted to be rich with meaning and beautiful in its use of music and symbols which draw from historic traditions of the church.O A free pulpitO Education for personal transformation and faith development.O Pervasive local and national outreach ministries.O A congregation open to all, closed to none.

For more than 65 years, Myers Park Baptist Church has been a place where members are encouraged to ask questions, debate issues, and seek truth. Doors are open to all who wish to follow Jesus on a journey of faith. Today the church is a vibrant ecumenical congregation of more than 2000 members who come from more than 20 different faith traditions.

A generous spirit within the early members provided facilities which have enhanced worship, educational programs and outreach to the community. O The land at 1900 Queens Road was a gift from the J.B. Efird Family in 1943.O In 1952 the Sanctuary was dedicated and was debt-free.O At the 1953 dedication, the Roswell educational building was debt-free.O In 1963 at the dedication of the remainder of the education facilities and Heaton Hall, the buildings were debt-free.O In 2003, the Cornwell Center was dedicated as a gift from the Spangler Foundation in memory of Mr. William D. Cornwell, Sr., and honoring Mrs. Ilease Bracket Cornwell and the congregation of Myers Park Baptist church. None of this would be possible without the generous philanthropic spirit of a congregation, where each family prayerfully considers their desire to give, then gives according to recognition of needs in conjunction with the family’s ability to give.

And God is able to provide you with every blessing in abundance, so that by always having enough of everything, you may share abundantly in every work.

II Corinthians 9:8

Endowment Fund Established

The Invitation

In September of 1972, the congregation approved the establishment of the Myers Park Baptist Church Endowment Fund as a way to expand the ministry of the church and help enrich the future of this church. The Endowment Fund provides a way for members to support areas of special interest by accepting gifts, bequests and other forms of planned giving. Gifts of any size are welcomed into the Endowment Fund.

We invite you to reflect on the importance of Myers Park Baptist Church in your life, the life of your family and in the Charlotte community.

The Endowment Fund reflects evidence of generosity in both the early generation of church members and current members who made bequests to the church. Some gifts are unrestricted and others are designated to benefit a special passion of the donor, such as music and worship, or mission, or education, or to support our beautiful campus.

The Endowment also reflects the collective gratitude of many members of Myers Park Baptist Church for the rich spiritual nature of this community, for the contributions of clergy and lay leadership, and for our congregation’s historic impact on the Charlotte community.

The Endowment bears witness to the belief that God does not preclude difficult times, but God is with us in hard times. Many members have made significant gifts and bequests to the church even during very challenging times, underscoring Paul’s message that it is an honor and privilege and blessing to give from the heart.

Individuals are invited to make a difference in the life of Myers Park Baptist Church by making a bequest or a current gift to the Endowment Fund. You may also want to consider making a gift to honor a loved one on an important occasion or anniversary. Gifts both large and small are welcomed. Individuals can make a contribution of any amount to an existing fund or establish a named endowment for a minimum gift of $10,000.

One simple way to make a difference in the future of Myers Park Baptist Church is to remember the church in your will. You may bequeath a specific amount or a percentage of your estate to the church. The bequest can provide critical unrestricted support or, if preferable, benefit a specific area of ministry.

Your estate plan is a statement about what matters most to you. With a bequest, you can create a legacy that expresses your values, honors a loved one and supports those institutions that are most important to you and your family.

You are invited to acknowledge all of your blessings and respond generously with gratitude to God’s abundant grace.

Endowment Administration

Purpose of the Endowment Fund

The Funds

The Endowment Fund is administered by an Endowment Committee, composed of 12 appointed members of the congregation, serving four-year staggered terms. The Senior Minister, Executive Minister and the Church Administrator are Ex-officio members of the Committee.

The Committee’s objective is to pursue an investment policy which allows reasonable growth while prudently safeguarding the principal. This accountability structure includes professional investment of the Endowment’s assets while ensuring that earnings are disbursed according to the donor’s wishes. All grants (or fund disbursements) recommended by the Endowment Committee are approved by the Board of Deacons.

The Myers Park Baptist Church Endowment Fund provides important support for the beautiful campus and grounds and creates new opportunities for mission outreach and ministry over and above the Annual Operating Budget. It also allows the church to provide revenue to initiate new ministry and programs.

Unrestricted funds are particularly important and enable the church to address immediate priorities, including sudden emergencies, or to take advantage of rare opportunities that are not funded by the church’s Annual Operating Budget. All disbursements from the Unrestricted Endowment are approved by the Endowment Committee and Deacons and typically fund projects and programs where there is pressing need. Donors who make unrestricted gifts can be confident that their gifts will make an enormous difference in the life of the church.

The General Endowment FundThe General Endowment Fund is an entity formed for the sole purpose of enriching the life and missions of MPBC. The General Endowment Fund is used to support development and expansion of the ministries of the church that are beyond the parameters of the Annual Operating Budget. These gifts made by individuals as a response to God’s love are managed with care and prudence. The principal of each gift – the original gift or bequest – remains intact and is invested to produce income that benefits the church. Endowment gifts can:• Beginministriesforwhichthereisnofunding.• Supportnewprograms.• Provideadditionalsupportforexistingfunds.

The Cornwell Center Endowment FundThe Cornwell Center Endowment Fund was a generous gift given by the Spangler Foundation for the expressed purpose of underwriting expenses related to the operations of The Cornwell Center.

The Cornwell Capital Endowment Fund The Cornwell Capital Endowment was a generous gift given by the Spangler Foundation to address future capital needs of the facility.

Illustrations of the Impact of Endowments at Myers Park Baptist

A variety of endowment funds have been created by donors to support areas of special interest such as music and worship, scholarships, pastoral leadership and staff development. Six examples follow.

• Establishedin1991,fundsfromtheHelena T. and G. Patrick Hunter Sabbatical Fund have supported rest-time, travel and study by senior pastoral leadership. These funds are critical to ensuring that the church provides opportunities and financial support for the rest and renewal of its pastoral staff and support for additional study. This fund provides financial support to underwrite important restorative experiences in addition to the cost of modest honorariums to those who provide interim ministry. Nationally such funds are often cited by churches as important tools for retaining vibrant outstanding pastoral leadership and ensuring that the tradition of notable scholarship is maintained at Myers Park Baptist Church.

• Jean and Reed Gaskin Fund In 1977, Dr. and Mrs. E. Reed Gaskin gave their home to the Myers Park Baptist Church. Following the sale of the house in 1987, the Board of Deacons voted to establish a fund in the Endowment in honor of Dr. and Mrs. Gaskin. A portion of this fund is designated for specific educational and mission work. The remainder of this fund is undesignated.

• Elizabeth and Sally Dowd Music and Worship Fund Mr. Frank Dowd, Jr. has established a Music and Worship Fund in memory of his wife, Sally Carson Dowd, and his mother, Mrs. Elizabeth Roddey Dowd. The purpose of the fund is to provide resources for the enhancement of worship and music at Myers Park Baptist Church. This fund supports the choir on its annual retreat for music preparation.

• Clyde C. and Ethel T. Dickson Family Fund was established by Mr. and Mrs. Clyde C. Dickson, Jr. honoring Mr. Dickson’s parents with a gift to support programs which enhance the teaching and study of the Bible.

• William S. and Elizabeth H. Lander Fund was established by a gift from their estate. The purpose of the fund is to yield income to be used to expand the mission outreach of Myers Park Baptist Church.

• 50th Anniversary Facilities Fund- In 1993, the congregation contributed to a special fund as part of the celebration of the church’s 50th Anniversary. This fund provides financial assistance for repairs and improvements to the physical campus and grounds of the church.

Since its inception in 1972, the Endowment Committee has made grants available from The Endowment Fund totaling $2,500,000.

Ways to Give

How To Make a Gift to the Endowment

There are various ways to give to the Myers Park Baptist Church Endowment, many of which may offer significant tax benefits to the donor. Here are some of the options to consider in charitable gift planning*:

• Cash• Appreciatedsecurities• Bequestbywill• NameMyersParkBaptistChurchasapercentagebeneficiaryofyourretirementbenefits• NameMyersParkBaptistChurchasabeneficiaryofalifeinsurancepolicy• Realestate• Personalproperty• Lifeincomeplans(CharitableRemainderUnitrustorCharitableRemainder Annuity Trust)

*Remember, if a person has no will or trust, state law determines who inherits all property at death. State laws do not recognize any church or other charity as a beneficiary unless the individual specifically includes preferred institutions or individuals in a legally valid will.

A. Make a Contribution to an Existing EndowmentThe Endowment Fund may currently have a fund that benefits an area of the church of special interest to you. If so, you may wish to contribute to that particular fund in lieu of creating an additional fund. You may decide how much you wish to contribute and if you want to make the gift now or through your estate. You may determine which assets you would like to use to make your gift.

B. Establish an Endowment Fund By establishing an endowment fund, you make a commitment which will support Myers Park Baptist Church forever. An individual or family can establish a named endowment with a gift of $10,000 or more. The process for establishing an endowment requires the individual to answer a few basic questions:

• Howmuchdoyouwishtocontributetoestablishyourendowment?• Howdoyouwishtomakeyourcontribution?Cash?Stock?Realestate?IRA?• Doyouwanttoestablishyourendowmentnoworthroughabequestinyourwill?

Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.

II Corinthians 9:6

TYPE OF GIFT FORM OF GIFT BENEFIT TO CHURCH BENEFIT TO YOU

• Cash • Perpetualincome • IncomeTaxDeduction • Stocks/Securities • InterestincomeusedbyMPBC • Nocapitalgainstax • RealEstate onappreciatedgifts •Insurance

• Cash • Bequestwillbeheldin • Possibleestatetaxdeduction • RealEstate perpetuityandinvestedto • Opportunitytomakea • PersonalProperty fundchurchneeds perpetualgift •PercentageofEstate •RemainderofEstate

• Cash • Endowmentreceivesfullface • Variableorfixedincome • Stocks/Securities valueofpolicyupondeath • Optiontodeferincome • RealEstate ofthedonorormayreceive • Incometaxdeduction surrendervaluepriorto • Reductionofestatetax donor’sdeath • Nocapitalgainstaxon appreciated gift

• Cash • Endowmentreceivescurrent • Atendoftrustperiod,principal • Stocks/Securities giftincometosupportthe returnstodonororheirs; • RealEstate workofthechurchandcharities principalcanpasswithlittle named by the donor or no shrinkage • Taxdeduction

• NameMPBCEndowment • Perpetualgifttohelpmeet • Opportunitytomakea as beneficiary of death the needs of the church major gift benefit • Estateandincome tax savings

• NameMPBCEndowment • Uponthedeathoftheinsured, • Substantialfuturegiftto aspolicyownerand/or remainingassetsgenerate churchatmanageablecost beneficiary incometochurch • Incometaxdeductionfor the value of the policy transferred • Premiumpaymentsmaybe deducted as gifts

Outright Gift

Bequest

Charitable Remainder Trusts

Charitable Lead Trusts

Retirement Plan /IRA

Insurance Policies

*This document is not intended to be tax or legal advice and should not be relied on as such. We encourage you to consult with your legal and tax counsel to understand the implications of a specific charitable gift.

Myers Park Baptist Church

1900 Queens Road, Charlotte, N.C. 28207-2582P: 704-334-7232 • F: 704-372-5150 • www.mpbconline.org