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’
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?
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.
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
Foundation can be made “in memoriam” and, if desired, the donor’s name may
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
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.
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 specified contributions.
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,
Estate... Donate a home or real estate to the Foundation, enjoy the
benefits of ownership for life and recognize a charitable deduction
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.”
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 the church office at (818) 243-2105.