DESIGNATION OF FUND This Fund shall be known as the Kingdom Legacy Endowment Fund, hereafter referred to in this document as the Fund.

Transcription

1 CHURCH CONFERENCE RESOLUTION ESTABLISHING A PERMANENT ENDOWMENT AND PLANNED GIVING MINISTRY COMMITTEE AND PERMANENT ENDOWMENT FUND FOR ST. JAMES METHODIST CHURCH OF ATHENS, GEORGIA, INC., operating as St. James United Methodist Church (St. James UMC) DESIGNATION OF FUND This Fund shall be known as the Kingdom Legacy Endowment Fund, hereafter referred to in this document as the Fund. The Fund and its administration will conform to all applicable Georgia laws and regulations, any applicable Federal laws and regulations including the provisions of the Internal Revenue Code and the current Book of Discipline of The United Methodist Church, particularly pertaining to Paragraph ESTABLISHMENT OF THE PERMANENT ENDOWMENT AND PLANNED GIVING MINISTRY COMMITTEE (KINGDOM LEGACY MINISTRY COMMITTEE) There shall be a Permanent Endowment and Planned Giving Ministry Committee of the Church also known as the Kingdom Legacy Ministry Committee (hereafter referred to as the "Committee"), and shall have the power, duty and responsibility of directing the administration of the Fund in accordance with the relevant provisions of the Discipline and the following: The Committee may consist of both voting and non-voting members. The Committee shall consist of ten (10) voting members, as follows: Finance Chair, Trustee Chair, Leadership Chair, Staff Parish Relations Chair, or their delegates, respectively. The Senior Pastor, or the Pastor s delegate, shall be an ex officio (non-voting) member of the Committee. To complete the ten voting members, the Nominations Committee shall seek to appoint a Chairperson and other At-Large representatives from Finance, Trustees, Leadership, Stewardship, other appropriate Church committees or the general congregation as needed. The Nominations Committee or the Legacy Ministry Committee may also seek additional nonvoting members with expertise in the following areas: estate planning, public relations, marketing and sales, finance, banking and other skills the Committee deems desirable. The Nominations Committee shall elect a Chairperson only from the At- Large members established above and elected by the Charge or Church conference. The Committee may elect a Vice-Chair, Secretary, and such other officers (voting or non-voting) as deemed necessary. All voting members of the Committee shall be current members in good standing of the Church. All voting members of the Committee shall serve until their successors are duly appointed, subject to the Term Limits described below. Accurate minutes and records shall be kept of the meetings, decisions, and actions of the Committee, and it shall be the continuous responsibility of the secretary elected by the Committee to record and keep such minutes and records. The Committee shall report annually to the Charge Conference regarding its carrying out of this responsibility. Subject only to the limitations and prohibitions which may be imposed or approved by the Charge or Church conference or a donor, the Committee shall receive and administer all donations, bequests and other gifts made to the Fund directly or from the Church; shall receive and administer all trusts and other Fund Assets as described herein; and shall invest all endowment funds in conformity with all applicable provisions of this Resolution and the Discipline. As required by the Discipline, the Trustees maintain sole responsibility to receive and administer gifts of real property and gifts designated as memorials. The business manager or a designated staff person of the Church and one or more of the members of the Committee designated in writing by the Committee shall be authorized to sign, on behalf of the Committee, any and all documents requiring execution in connection with the administration of property held for the Fund and in the management of special funds included therein in accordance with the decisions of the Committee. Dispersing funds shall require written authority from the Committee with two signatures on the authorization. Revised 4/16/2015 8:05 AM Page 1 of 9

2 PURPOSE OF FUND The Fund is established and shall be operated exclusively for charitable purposes. The Fund is established to provide members and friends the opportunity to make charitable gifts to ST. JAMES METHODIST CHURCH OF ATHENS, GEORGIA, INC., operating as St. James United Methodist Church, (hereafter referred to as the Church ) that will become a permanent endowment for financial support and a living memorial. The Fund is intended primarily for Church purposes which are not funded through the annual operating budget; however, gifts which intend to supplement established programs and ministries are appropriate. There shall be a General Endowment Fund which shall contain all undesignated gifts. Special designated funds within the Permanent Endowment Fund may be established as provided herein. Undesignated gifts: General Endowment Fund Designated funds that may be established with a minimum investment or gift: Buildings and Grounds Improvements Missions (Local and/or International) Children s Ministries Youth Ministries Music Ministries Any other account that may be designated from time to time by the Kingdom Legacy Ministry Committee and approved by the Trustees, or designated by the Trustees directly. INVESTMENT OF PERMANENT ENDOWMENT FUNDS The Fund s investment objectives are: 1. Conservation of principal for the effective maintenance of purchasing power. 2. Regular income at a reasonable rate. 3. Investment of assets in institutions, companies, corporations and funds which make a positive contribution toward the realization of the goals outlined in the Social Principles of The United Methodist Church. The Georgia United Methodist Foundation ( Foundation ) shall be appointed the institutional custodian of the Fund to fulfill the goal of the Committee to act as a socially responsible investor. Reasonable compensation shall be paid to the custodian for services rendered. The Foundation, through an Investment Management Agreement with the Church, will invest all permanent funds received by the Fund. Any disbursements by such custodian from the Fund shall be made only upon the written direction of such person or persons as are designated by the Committee. Any transfer of the Fund s assets from the Foundation to any other agency must be approved by a majority vote of the Trustees upon the recommendation of the Committee. The Committee is expressly authorized and solely empowered to hold, manage, sell, convey, lease, lend, invest, and reinvest any monies or property at any time forming a part of the Fund, in any property, real, personal and/or mixed, of any kind or nature, without being limited or restricted to the type or mix of investments prescribed or authorized for trustees by the laws of Georgia. The Committee is expressly authorized to invest and reinvest any portion or part of the Fund in a common trust fund maintained and managed by the Foundation in accordance with and in compliance with the provisions of the laws of Georgia relating thereto. Income as defined herein from each Fund shall be available for distribution by the Committee in a manner consistent with the designated category. It shall be the duty of the Committee to investigate, analyze, and appraise all factors in connection Revised 4/16/2015 8:05 AM Page 2 of 9

3 with any proposed or suggested purpose or project for which the Income from the Fund may be used, and to disburse such Income in such amounts and to such beneficiaries as the Committee deems appropriate. An appropriate investment strategy for all the Fund s assets will be determined by the Committee. The specific purpose of each Fund authorized by the Committee shall be stated in order to fulfill the wishes of the donor and thereby to segregate and maintain gifts for their stated purposes. POWERS AND DUTIES OF THE BOARD OF TRUSTEES The Board of Trustees (hereinafter referred to as the Trustees ) shall have the following responsibilities with respect to the Fund: The Trustees shall have the full power and authority to accept or reject any and all property of whatsoever nature donated, bequeathed, or devised to the Church, and with respect to any such property accepted, to hold such property in the form in which it is received or to sell, assign, transfer, or otherwise dispose of such property and distribute the proceeds of such sales to the Fund. Except for real property and memorials, the authority to accept such gifts may be delegated to the Committee. The Trustees shall also have the power, authority, and right to establish, either from a portion of the income from the Fund or from any other source from which they may have received property not specifically given, donated, bequeathed, or devised to the Fund, separate accounts named, designated, and set aside for specific special purposes. POWERS OF THE KINGDOM LEGACY MINISTRY COMMITTEE In the administration of the Fund, the Committee shall have the necessary authority to carry out the purpose of the Fund. No power or authority shall be exercised by the Committee in any manner or for any purposes whatsoever which may not be exercised by an organization which is tax exempt, or by an organization donations to which are deductible from a donor s taxable income to the extent allowed by the provisions of the Internal Revenue Code, and other applicable legislation and regulations as they now exist or may hereafter be amended. The acquisition, ownership, sale or transfer of any real or personal property must be consistent with the current Book of Discipline of The United Methodist Church as amended from time to time. The Committee shall have the powers and duties authorized by The Book of Discipline of The United Methodist Church and granted by the Charge or Church conference, specifically: A. To receive and administer any and all conveyances, grants, gifts, donations, personal property of whatsoever nature, legacy memorials, bequests, or devises, absolute or in trust, collectively referred to as Fund Assets or Assets, donated, bequeathed or devised to the Fund, and with respect to any such Assets accepted, to hold such Asset in the form in which it is received, or to sell, assign, transfer, or otherwise convert or dispose of such Fund Assets as the Committee determines, and convey all the proceeds of such sale, assignment, transference, conversion or disposal to the Fund, and to invest all Fund Assets, and the growth from said Assets, on behalf of the Church in conformity with laws of the country, state, or like political unit in which the Church is located. B. When directed by the Trustees, to receive and administer any and all conveyances, grants, gifts, legacy memorials, donations, personal property of whatsoever nature, legacies, bequests, or devises, absolute or in trust, donated, bequeathed, or devised to the Church, collectively referred to as Church Gift or Gift, and with respect to any such Church Gift, to hold such Gift in the form in which it is received or to sell, assign, transfer, or otherwise convert or dispose of such Gifts as the Committee determines, and convey all the proceeds of such sale, assignment, transference, conversion or disposal to the Fund, and to invest all Fund Assets, and the growth from said Assets, on behalf of the Church in conformity with laws of the country, state, or like political unit in which the Church is located. Revised 4/16/2015 8:05 AM Page 3 of 9

4 C. To emphasize the need for adults of all ages to have a will and an estate plan; and to provide information on the preparation of these documents to the members of the congregation. D. To stress the opportunities for church members and constituents to make provisions for giving through United Methodist churches, institutions, agencies, and causes by means of cash donations, wills, annuities, trusts, life insurance, memorials, and various types of real and personal property. E. To arrange for the dissemination of information that will be helpful in pre-retirement planning. F. To update the committee rules and regulations after each General Conference as needed. G. Other responsibilities as determined by the Charge or Church conference. H. To collect, receive, and receipt for the income, profits, rents, proceeds and assets of the Fund. I. To purchase, subscribe for, retain, invest, and reinvest in securities or other property. The intent is that the Fund s investments shall be made independently by the Committee or their contracted manager. These may include investments in bonds, notes, or other securities of the Georgia United Methodist Foundation. The terms securities or other properties as used in this document shall be deemed to include real or personal property, corporate shares, common or preferred stock, or any other interest in any corporation, association, investment trust, or investment company, bonds, notes, mortgages, debentures or other evidences of indebtedness or ownership, secured or unsecured. J. To sell for cash or credit, convert, redeem, exchange for other securities or other property, or otherwise dispose of any securities or other property at any time held by the Committee. K. To hold part or all of the Fund in cash; however, such cash shall be deposited in an account with the Georgia United Methodist Foundation, or a federally insured commercial bank, savings bank, savings and loan association, or broker that is a member of Securities Investor Protection Corporation. L. To employ suitable accountants, agents, legal counsel, and custodians, and to pay their reasonable expenses and compensations. Each separate Fund account shall bear its pro rata share of such reasonable expenses. M. Any other provisions of this resolution notwithstanding, the Committee shall not engage in any act of self-dealing as defined in the Internal Revenue Code; nor retain any excess business holdings as defined in the Internal Revenue Code; nor make any investments in such manner as to incur tax liability under the Internal Revenue Code; nor make any taxable expenditures as defined in the Internal Revenue Code or corresponding provisions of any subsequent Federal or State of Georgia tax law. N. The Committee shall determine all matters regarding management of the Fund, expenditures, and investment by a majority vote (except amendments discussed under Limitations on Use of Principal, Gift Acceptance Policy and "Amendment of Resolution ). O. The Committee, in cooperation with the Church Committee on Finance, shall ensure that the annual audit or review is performed. P. The Committee shall act by a vote of the majority of the Committee members authorized herein to vote, (except amendments discussed under Limitations on Use of Principal, Gift Acceptance Policy and "Amendment of Resolution ). Q. The Ad Hoc committee shall have the authority to act as the full Committee until January 31, By this time the Nominations Committee shall propose additional At-Large members, subject to approval by the Leadership Committee, as described herein. Revised 4/16/2015 8:05 AM Page 4 of 9

5 R. The term majority as used in this resolution is constituted by at least fifty percent (50%) plus one of the Committee members. Any instrument required to be executed by this resolution (except amendments discussed under Limitations on Use of Principal, Gift Acceptance Policy and "Amendment of Resolution ) shall be valid if executed in the name of the Fund by a majority of the Committee. The vote shall be recorded whenever the vote is not unanimous. S. For purposes of this Committee, a Quorum is present when a majority of the voting Committee members then serving are physically present at an officially called meeting with proper notice given as described herein. Dispersing funds and all other official actions taken by the Committee require a majority vote of the total voting members of the Committee then serving, regardless of the number present at a given meeting. T. ABSENTEE / PROXY VOTES: If a Quorum is not physically present at a called meeting, the Chair may elect to conduct or reschedule the meeting. If the meeting is conducted, the Chair shall communicate to all of the nonattending voting members, by or other written form, all items or motions requiring a vote, to obtain their vote on said matters. Whether Yes or No, such votes cast shall be deemed to have the same authority as votes cast in person. No voting member shall be permitted to cast a Proxy vote for another voting member. U. TERM LIMITS: At-Large Members shall be elected by the Charge or Church conference for a term of three years and may serve for a second three-year term. Upon completion of two consecutive terms as described herein, an At- Large Member may serve another two terms after a one-year absence from the Committee. The terms of the initial At-Large Members shall be staggered with two members elected for a one-year initial term, two members elected for a two-year initial term, and two members elected for a three-year initial term. The members of the Committee shall be succeeded by members appointed or elected as provided above. The remaining (un-expired) term of any interim vacancies may be filled by a majority vote of the Leadership Board at a properly called or scheduled meeting, subject to the conditions and requirements described herein of voting Kingdom Legacy Ministry Committee members. DISTRIBUTION OF INCOME For this Resolution, certain term definitions are as follows: Income is defined as the amount distributed annually according to the spending method adopted herein; Corpus Principal or Net Invested Capital shall be the accumulated total initial value of any and all Fund Assets and Church Gifts as described in paragraphs A and B of the POWERS OF THE KINGDOM LEGACY MINISTRY section, or that become part of the Fund from any donated source whatsoever. Unless otherwise specified by the donor, the distribution of the Income from the undesignated or general endowment Fund, and all of the Fund accounts, for such purposes as shall be solely determined by the Committee, shall be distributed according to the Fund spending method described below: The Committee is authorized and shall distribute monies annually from the Fund or Funds as follows: The distribution from the endowment for the current year shall be calculated as the higher of 3% of the value of the total Fund portfolio on January 1 of the current year, or the amount of the prior year s distribution, except that the distribution shall not exceed either 110% of the prior year s distribution, or 7% of the value of the Fund portfolio of the current year ( Income ). Any year in which the total Fund Value equals or exceeds at least three times (300%) of the corpus Principal, the Committee is authorized and shall distribute monies annually from the Fund or Funds as follows: The distribution from the endowment for the current year shall be calculated as 4% of the value of the total Fund portfolio on January 1 of the current year. In subsequent consecutive years that the Fund Value continues to equal or exceed three times (300%) of the corpus Principal, the distribution from the endowment for the current year shall be calculated as the higher of 4% of the value of the total Fund portfolio on January 1 of the current year, or the amount of the prior year s distribution, except that the distribution shall not exceed either 110% of the prior year s distribution, or 7% of the value of the Fund portfolio of the current year ( Income ). Revised 4/16/2015 8:05 AM Page 5 of 9

6 In the event that a required distribution as defined herein would encroach on the corpus Principal of the fund, the restrictions outlined in the Limitations on Use of Principal section shall be observed and prevent any part or all of said distribution until such time that the distribution can be accomplished without encroaching on the corpus Principal of the fund or funds. The initial distributions from the fund shall begin when the Committee determines, but shall be no more than four (4) years from the date of ratification by the Charge or Church conference, or when the fund total value on January 1 of the current year exceeds $500, dollars, whichever first occurs. Unless otherwise specified by the donor, and subject to the limitations imposed by this Charge or Church conference resolution, annual Income distributions from the fund shall be authorized and executed by the Committee no later than the 4 th Thursday of February annually, and said Income disbursed in such amounts and to such beneficiaries as designated by the majority of the Committee, no later than the fourth Thursday of March each year. GIFTS TO THE PERMANENT ENDOWMENT FUND (GIFT ACCEPTANCE POLICY) A Gifts Acceptance Policy document is included as a part of this Resolution for the Church and the Fund. Modifications to the Gift Acceptance Policy document only shall require a vote of four-fifths (4/5) of the Committee, approval from a twothirds (2/3) majority of both the Trustees and Leadership Board, but not a duly called Charge or Church conference. The Trustees and/or the Committee shall have the power, right, and authority to accept and to add to the Fund any and all conveyances, grants, gifts, donations, legacies, bequests, or devises, absolute or in trust, for the use and benefit of the Church or the Fund, which are now, or may be in the future, offered to or placed in the custody or control of the Trustees or Committee, subject to the following: 1. Every acceptance by the Trustees or the Committee shall be in conformity with the laws of the United States of America and of the State of Georgia and in accordance with the Discipline and any applicable directions of the Charge or Church conference, and the donor. 2. A donor may establish a named designated fund within the Fund with a gift valued at not less than Twenty Thousand ($20,000.00) Dollars. Each named designated fund shall be approved by the Trustees upon recommendation of the Committee, and shall be administered in accordance with a written agreement between the Committee and the donor as to the purposes for which the Income of such fund may be used and distributed, which must be consistent with the intent of the purposes of the Fund as set forth in this Resolution. Additional gifts of any amount may be made to a named designated fund by the donor or any other person or organization. The manner of investment of any named designated fund shall be solely in the discretion of the Committee, unless otherwise agreed by the Committee or Trustees at the time the gift is accepted. To facilitate the establishment of named designated funds, a donor may begin with a minimum contribution of not less than $5, dollars. The proposed named designated fund will have up to 5 years from the date of the initial donation to reach the minimum $20, dollar total required to become a permanent named designated fund. Donations to the named designated fund shall accrue throughout the 5 year period, provided that at least $3, dollars is added annually. If the annual or total amount is not reached within the specified timeframes, the Committee may elect to assign all accumulated donations to the proposed named designated fund to the undesignated general endowment fund, and the proposed named designated fund shall not be established as intended. 3. There shall be a General Endowment Fund to which all undesignated Assets and Gifts shall be allocated. 4. Any acceptance of any property hereunder will require the Fund to hold the principal amount in trust only so long as the Church, or its lawful successor, remains an active institution. 5. As referenced in the Gift Acceptance Policy, the Church may receive large undesignated or unplanned gifts from time to time. It shall be the policy of the Church to assign to the General Endowment Fund not less than fifty percent (50%) of any Church Gift or Gifts from a single source with a combined total value in excess of fifty-thousand dollars ($50,000.00), which is made to the Church, and which is not a specifically designated gift by the donor. The remaining percentage shall become Revised 4/16/2015 8:05 AM Page 6 of 9

7 part of the general operating budget of the Church, to be used as determined by the Finance Committee. If the Gift is not liquid (such as real property), the same percentages of any gross revenue derived from the Gift shall be divided and apply as described in this paragraph. BOND AND COMPENSATION The Trustees and the members of the Committee, collectively and individually, shall be excused from executing bond unless requested to do so in writing by the Charge or Church conference. All members of the Trustees and the Committee, and their successors in trust, shall serve without compensation. ACCOUNTING BY THE COMMITTEE The Committee shall render an annual statement to the Finance Committee for the prior year of their transactions regarding the Fund by the fourth Thursday in April each year. At no time shall the identity of individual donors to the Fund, or the individual amounts they donated, be published, distributed or publicly announced, unless written permission to do so is obtained in advance. Donation amounts from donors wishing to remain anonymous will be included in the totals only. The Church, or any member, or any donor to the Funds may file an objection to the accounting in writing to the Finance Committee within sixty (60) days of the date of said accounting. In the absence of such objection, the Committee shall be released, relieved, and discharged with respect to all matters and things set forth in such accounting as though such accounting had been settled by judicial decree of a court of competent jurisdiction. LIMITATIONS ON USE OF PRINCIPAL One of the objectives of the Fund is to conserve corpus Principal and make use of or distribute only the Income from the Fund, unless otherwise specifically authorized in writing by the donor, or donor s legal representative, at the time the gift is made. Neither the Trustees nor the Committee nor anyone else shall have any power, authority, or right, at any time, to expend, distribute as Income, liquidate or encroach upon the corpus Principal of the Fund, as defined herein, or any portion thereof, except as expressly authorized by a donor herein, without the specific recommendation by a (4/5) vote of the Committee members then serving, approval from a two-thirds (2/3) majority of both the Trustees and the Leadership Board, and at least a three-fourths (3/4) vote by those present at a duly announced Charge or Church conference of St. James UMC in favor of accepting such recommendation, except as provided herein under the Merger, Consolidation, or Dissolution of the Church section below. LIABILITY OF THE PERMANENT ENDOWMENT AND PLANNED GIVING MINISTRY COMMITTEE AND THE BOARD OF TRUSTEES No member of the Trustees or of the Committee shall be liable to any donor or any beneficiary or to any person claiming under any donor or beneficiary, or to the Church, by reason of the exercise of any power or discretion hereunder, except in case of (a) fraud or gross negligence on the part of a Trustee or a Committee member or (b) failure to act in conformity with directions of the Charge or Church conference; and all and any directions given to others by the Trustees or the Committee hereunder shall be binding and conclusive on all parties concerned. No Trustee or Committee member shall be personally liable for the acts or omissions of any attorney, agent, accountant, or other assistant of the Trustees or of the Committee employed in connection with the administration of the Fund, provided such attorney, agent, accountant, or other assistant shall have been selected with reasonable care. The Trustees and the Committee shall be excused from filing any inventory or appraisement, statements or settlements of account with any court or public authority so far as is possible under the law and shall have all powers allowed by Georgia law, including without limitation those set forth in Section of the Official Code of Georgia Annotated, as amended from time to time. MERGER, CONSOLIDATION, OR DISSOLUTION OF THE CHURCH Revised 4/16/2015 8:05 AM Page 7 of 9

8 If at any time the Church is lawfully merged or consolidated with any other United Methodist church, all the provisions hereof in respect to the Fund shall be deemed to have been made on behalf of the merged or consolidated Church, which shall be obligated to administer the same in all respects and in accordance with the terms thereto, to use for the purposes for which the gift (or gifts) was intended. Should the Church be dissolved for any reason whatsoever without a lawful successor, the Fund shall be entrusted to the Foundation to direct the distribution of principal and accumulated income to the Athens Elberton District of The United Methodist Church or its successors, which shall be obligated to administer the same in all respects and in accordance with the terms thereto, to use for the purposes for which the gift (or gifts) was intended. SEVERABILITY If any provisions or application of any provisions of this Fund shall be held or deemed to be illegal, inoperative, or unenforceable, the same shall not affect any other provisions or any applications of any provisions herein contained or render the same invalid, inoperative, or unenforceable. AMENDMENT OF RESOLUTION After the initial adoption, this Resolution or any provision thereof may be amended or modified by the Committee as needed. Any proposed amendments or modifications shall be approved by at least 5 voting members of the Committee. The revised Charge Conference Resolution shall be approved by the Leadership Committee and/or a Church or Charge conference for the changes to be accepted. Subsequent modifications or amendments to the Charge Conference Resolution shall occur only after recommendation by a (4/5) vote of the Committee members then serving, approval from a two-thirds (2/3) majority of both the Trustees and the Leadership Board, and at least a three-fourths (3/4) vote by those present at a duly announced Charge or Church conference of the Church in favor of accepting such recommendation. Any proposed amendment shall be in writing and signed by the Chair of each successive committee (Kingdom Legacy Ministry Committee, Trustees, and Leadership) before being presented to the Charge or Church conference. Such vote by the Charge or Church conference of the Church shall be in accordance with any relevant provisions of the Discipline pertaining to notice or otherwise. No amendment or modification shall (1) alter the intent that the Fund be operated exclusively for the purposes stated herein, or (2) alter the intent of any donor. The Committee shall keep a written copy of all approved modifications as part of the permanent records for the Kingdom Legacy Endowment Fund. THIS IS TO CERTIFY that the foregoing Resolution was duly adopted by the duly authorized Charge or Church conference of the ST. JAMES METHODIST CHURCH OF ATHENS, GEORGIA, INC. on this day of, 20, meeting in (City, St.),, by a vote of votes in favor, votes against, and votes abstaining. (Name of Recording Secretary), Recording Secretary Gary Whetstone, District Superintendent Bill Curington, Senior Pastor Revised 4/16/2015 8:05 AM Page 8 of 9

9 The Book of Discipline of The United Methodist Church 2012 Paragraph 2534 St. James UMC Charge Conference Resolution Permanent Endowment and Planned Giving Ministry Committee A charge conference may establish a local church permanent endowment and planned giving ministry committee. The purposes for establishing such a committee include the responsibilities to: 1. Provide the services described in as designated by the donor or at the direction of the charge conference upon notice to the board of trustees. When such property is in the form of investable funds, the permanent endowment fund committee may consider placement for investment and administration with the United Methodist foundation serving that conference or, in the absence of such a foundation, with the United Methodist Church Foundation. A conscious effort shall be made to invest in a manner consistent with the Social Principles and the creation of an investment policy. When the charge conference has designated the committee to provide the services described in , the committee shall have the same investment and reporting duties as are imposed on the board of trustees in that paragraph. 2. The charge conference shall adopt guidelines for endowment and planned giving as developed by the permanent endowment and planned giving ministry committee. Subject to the direction and supervision of the charge conference, the committee shall fulfill its responsibilities in administering the planned-giving and/or permanent endowment fund. Following each General Conference, the charge conference shall update any required changes in the plannedgiving and/or permanent endowment fund documents. 3. Emphasize the need for adults of all ages to have a will and an estate plan and provide information on the preparation of these to the members of the congregation. 4. Stress the opportunities for church members and constituents to make provisions for giving through United Methodist churches, institutions, agencies, and causes by means of wills, annuities, trusts, life insurance, memorials, and various types of property. 5. Arrange for the dissemination of information that will be helpful in preretirement planning, including such considerations as establishing a living will, a living trust, and the need for each person to designate someone to serve as a responsible advocate should independent decision-making ability be lost. 6. Permanent Endowment and Planned Giving Ministry Committee trustees are directed by the charge conference to follow the guidelines and actions initiated by the charge conference, overturn any transaction that the charge conference may deem excessive, and remove any trustee who does not carry out the directions of the charge conference. Careful attention will be given to the election of trustees to ensure that there is no conflict of interest. Following each General Conference, the permanent endowment document shall be brought into line with any changes in the Discipline. 7. Other responsibilities as determined by the charge conference. 8. Resources for these tasks may be secured from conference and/or area United Methodist foundations and development offices, the National Association of United Methodist Foundations, the General Board of Discipleship, the General Council on Finance and Administration, and other appropriate sources for program assistance and direction. Revised 4/16/2015 8:05 AM Page 9 of 9