What is the Endowment Fund?
The Endowment Fund was created in 1967 to assist members and friends of River Road Church, Baptist in providing long-term support for the Church and its programs. The Fund is intended to be a permanent funding source to directly benefit programs and ministries that the Church typically cannot fund through its annual operating budget. This allows the Church to accomplish projects and programs in keeping with its mission and ministries that may not otherwise be possible.
What does the Fund Support?
The Board of Directors considers projects that can extend the reach of the River Road Church, Baptist’s mission to individuals, special situations, and other worthwhile projects. The Board considers requests for both program support and purchases of long-term capital assets. Programs that could be considered for support include music, worship, missions, and Christian education.
Each year the Board of Directors publishes a report about the activities of the Fund. Board members are also available to provide informational programs about the Endowment Fund to interested groups.
How Can I Give to the Fund?
Giving to the Endowment Fund is a special way for members and friends to provide long-term support and blessings to River Road Church, Baptist. Most donors allow the Fund to determine how their gifts can best be used to benefit River Road Church, Baptist. If you would like for the principal of your gift and/or the income it generates to be used only for a particular program or activity, the Fund will carefully follow those wishes. You may also make gifts to the Fund in memory of a deceased individual or in honor of someone still living, providing an ongoing memorial that benefits the Church and its programs.
The Fund accepts gifts of cash, stocks, bonds and, in certain instances, real estate, or other assets. Like gifts to River Road Church, Baptist itself, gifts to the Endowment Fund are deductible for income, gift, and estate tax purposes. To make an immediate gift, please bring or send your gift to the church office with a notation that it is for the River Road Church, Baptist Endowment Fund.
You may provide future gifts to the Fund by naming it the beneficiary of an insurance policy, retirement plan benefit, individual retirement account, living trust, or brokerage account. In your will you also may leave a share of your estate to the Fund in the form of cash, specific assets, a percentage of your total estate, or a contingent gift if a family member or other primary beneficiary does not survive you. By resolution of the Church, all estate gifts, trusts, and memorial gifts that are not designated for a particular purpose or given for use as general operating funds are irrevocably transferred to the Endowment Fund.
You may combine a gift to the Endowment Fund with provisions for family members by using such charitable giving vehicles as charitable remainder trust, charitable lead trust, and gift annuities.
Directors of the Endowment Fund are available to talk with you about giving opportunities. You should also consult your tax and legal advisors about the structure and tax consequences of various types of gifts.
How is the Fund Managed?
The Endowment Fund is a tax-exempt charitable corporation chartered on June 6, 1967. It is legally separate from River Road Church, Baptist, but exists solely to support the Church and its programs. The Fund is administered by a twelve-person Board of Directors who are chosen for three-year terms and are eligible for reelection. The charter requires all Directors to be River Road Church, Baptist members. The Board of Directors appoints its own successors and fills all vacancies as they occur.
The Fund selects professional asset managers to invest its assets. Under the direction of the Board of Directors, investments are made with an eye toward conserving and increasing its capital value, while generating returns that will enable it to support additional projects of the Church.
Endowment Fund Board of Directors
The Endowment Fund: Past, Present, & Future
Written by Ransone Hartz, published in 2013
River Road Church, Baptist turned 21 in 1967. At the time our country was torn over the Vietnam War and Civil Rights. Dedicated members, accepting the financial challenges and risks, signed notes guaranteeing the much needed loan to fund the construction of the sanctuary.
Thanks to the vision of a small group of members an endowment was created:
“…To acquire, establish and maintain in perpetuity a fund, the principal and income of which shall be used from time to time as the board of directors may determine to support or benefit the programs at River Road Church… through direct grants to the church and grants to the programs and courses the church supports or would support if its resources were sufficient to enable it to do so…”
The fund had little growth in its early years, but slowly grew as the directors focused on increasing the value of the fund. As growth continued, the fund became known as a “rainy-day” fund, to be used only in emergencies.
Today, because of the foresight of a few, the fund helps to support both programs and causes of River Road Church, Baptist.
The fund is constituted as a not-for-profit corporation separate from the Church. It is managed by a 12-member Board of Directors. Board members must be members of River Road Church, Baptist and are elected by the Board.
River Road Church, Baptist’s Constitution offers guidance to the directors. Article I, Section 2 – Purpose, reads in part:
Believing in the Bible as inspired of God and in the priesthood of the believer and acknowledging adherence to the teaching of our Lord Jesus Christ, we declare the purpose of the church to be:
- To maintain regular services for public devotion, worship, and prayer, the liturgical forms of which shall be drawn from the rich panoply of the Protestant Tradition;
- To proclaim through word and deed the Gospel message and to urge thereby its personal acceptance;
- To cooperate heartily by prayer, gift, and service in sharing the Gospel of our Lord Jesus Christ with the people of our community and the world;
- To promote systematic Bible study and training in Christian service and to encourage thereby lifelong enlistment in definitive Christian activities;
- To further the study and practice of Christian discipleship as revealed and taught in the scriptures.
Many of the Endowment’s grants have been, and continue to be, for the maintenance and improvement of the facilities. Simply stated, our facilities help carry out the purposes of our Church. Examples of endowment funding are the purchase of 8 Ridge Road, now part of our North Parking Lot, the handicap ramp to the Chapel, and the 1999 Capital Campaign.
River Road Church, Baptist is known for its outstanding music. Endowment funding has provided annual support of the E. Carl Freeman Concert Series, the Boston grand piano in the Sanctuary, and the 2014-2017 Rejoice & Give Thanks capital campaign consultant’s fees and related campaign expenses.
The Endowment has reached out to support the Baptist Theological Seminary at Richmond (BTSR), Hurricane Katrina relief efforts, and the Japanese Earthquake Relief Fund.
The slideshow below gives a more extensive viewing of grants made through the years.
Beginning in 2003, the directors present an annual report at the River Road Church, Baptist’s January business meeting. Members may obtain copies by contacting the Church office.
With the continued increase of resources, River Road Church, Baptist can grow the care for all ages of fellowship, spiritual growth, music, and outreach.
Please pray for our church that it may always be a beacon of faith, love, and hope. As you pray, please consider if God wants you to include River Road Church, Baptist in your stewardship pilgrimage by means of your estate plan.
God has blessed us at River Road Church, Baptist. May we prove worthy of God’s blessings for coming generations.