- To educate the congregation as to how they can provide a financial heritage that enables FUMC Benton to maintain and grow its services and programs in support of God’s work.
- To direct the FUMC Benton legacy initiative in a positive manner.
- To support the efforts of the trustees, the finance committee, and the church staff.
- To ensure that expenditures support Church ministries but do not supplant the Church's general operating budget.
The legacy funds will be utilized for church programs, long term facility and equipment repairs or replacement, and facility and/or equipment additions. It will not be utilized to fund the church’s general budget.
LEGACY COMMITTEE MEMBERS
As of September 1, 2020
Legacy fund plans
The Legacy Committee encourages all members and/or friends of the First United Methodist Church of Benton to include the Church in their long term financial planning. This can be through bequest in wills or trusts, through naming the Church as beneficiary or partial beneficiary of insurance, annuities, IRA's or through tax avoidance strategies such as charitable gift annuities. The Fund is also an excellent choice for memorials, honorariums, and simple gifts.
Named funds within the Legacy Fund Committee control can be established with a minimum gift of $25,000. The giver of the monies may name the purpose(s) for which the money given may be spent. The giver may specify if the original gift can be spent or if only the income from the gift may be spent. If the original gift is less than $25,000 the giver has 5 years to bring the amount in the named fund to the minimum amount.
The monies that have been given to the Legacy Fund are either kept in a designated account within the Church's bank accounts or are invested at the Arkansas Methodist Foundation. Unless specified otherwise by the giver the gifts invested at the AMF are considered as principal that can only be distributed or spent with approval of Church Charge Conference. Growth from the principal invested at AMF can be distributed for purposes consistent with the Legacy Fund's mission statement.