What is the Foundation?
The First United Methodist Memorial Foundation of Glendale is a non-profit corporation created June 23, 1947 when nine men responded to pastor Dr. K. Morgan Edwards’ call.
The purpose so stated then - as it is now - was to use the earnings of Foundation assets “to aid, promote, and develop religious, charitable, educational activities and to make donations to, dispense contributions to and otherwise aid and support those organizations … that are organized and operated exclusively for religious purposes, primarily being the First United Methodist Church of Glendale, California.”
The Foundation grows through generous gifts by past and present members and friends of First United Methodist Church of Glendale and by prudent investment of the funds entrusted to it. The earnings from these gifts support the mission and ministry of First United Methodist Church of Glendale. A gift to the Foundation is truly “The Gift That Keeps On Giving.”
How the Foundation is Managed?
The Foundation is managed by a board of nine Directors, one-third of whom are elected annually for a three-year term, as approved by the Charge Conference. The Board maintains an investment advisory committee that works closely with an outside investment consultant regarding investment policy, objectives and guidelines; selection and review of investment managers; and evaluation of investment performance. The Foundation utilizes a diversified “balanced portfolio” arrangement intended to provide prudent growth potential as well as mitigation of risk. The accounts of the Foundation are audited annually, and a report is presented to the Charge Conference.
Don Galleher serves as an independent non-voting consultant to the Board in the area of Gifts and Bequests.
How You May Give?
Gifts to the Foundation can be made in a number of ways, some during the lifetime of the donor, thus offering immediate value and satisfaction, others as part of an estate plan.
Cash...Make an immediate sizeable donation and take a charitable deduction as provided by law. Any gift or bequest to the church can be made “in memoriam” and, if desired, the donor’s name may appear.
Purchase a life insurance policy naming the Foundation as the beneficiary, and take a charitable deduction equal to the premium amount. Several plans are available in which a new policy can be fully paid in a period of five to seven years.
Appreciated Assets...Contribute appreciated assets, such as stock, real estate or personal property to the Foundation and receive a charitable deduction equal to the current value of the assets without capital gains tax.
Existing Life Insurance... Contribute a life insurance policy that is no longer needed to protect the current beneficiaries and receive a charitable deduction for the cash value of the policy.
Wills...Include the Foundation in a will and reduce estate taxes. Fixed amount, specific assets or percentages of the estate may be specified. Another option is to name the Foundation as recipient of the remainder of an estate after all other expenses and
Trusts... Establish a form of a charitable trust and/or annuities that provide the donor with a fixed or variable lifetime income and
receive a charitable deduction at the same time,
Real Estate... Donate a home or real estate to the Foundation, enjoy the benefits of
ownership for life and recognize a charitable deduction immediately.
Note: this information is general in nature. Before making any decision, please consult with an attorney and/or financial advisor.
“Do all the good you can, by all the means you can,
in all the ways you can, in all the places you can,
at all the times you can, to all the people you can,
as long as ever you can.”
- John Wesley
The John Wesley Society
Donors to the Foundation are eligible to become members of The John Wesley Society, a group formed by the Foundation’s Gifts and Bequests Committee to recognize donors.
Currently, over fifty members of the Society have either made outright gifts to the Foundation or have indicated support for the Foundation through bequest in a will or designated gift in estate planning.
If you would like more information about the Foundation and/or would like to become part of The John Wesley Society, please contact Don Galleher, Gifts and Bequests Consultant at (818) 261-3751 or Don@glendalemethodist.org.