Rev Dr Andrea King serves as pastor at Emmanuel United Methodist Church in Beltsville, Maryland. She is also a graduate of the Financial Leadership Academy, a Foundation coach and a current student in the Advanced Financial Academy. This article will be shared in her church’s newsletter this month encouraging the congregation to consider legacy giving.
In the sixth grade a young girl gave up her education to care for her aunt who was her guardian. Osceola McCarthy said, “I would have gone back. But the people in my class had done gone on, and I was too big. I wanted to be with my class.”
Since Osceola felt she couldn’t pursue her education as an older student, she earned a living washing clothes. “Every month I’d save the same percentage of income and put it away. I was consistent.”
By the time Osceola was in her late 80s, she had amassed $280,000. From the life savings of this Mississippi washer woman, an estimated $150,000 from her estate was donated to the University of Southern Mississippi to finance scholarships for low-income students.
Although Osceola regretted not returning to school, she shared her wealth through legacy giving. Legacy giving is creating financial impact beyond your earthly years. Legacy giving can happen for a school or a non-profit like a church. Often people do not realize that they can leave monetary gifts to their church or make their local church one of the beneficiaries of an insurance policy, an estate, a pension plan, or other financial means.
The Mid-Atlantic Methodist Foundation of The United Methodist Church educates the church about the best means for church members to provide for their current congregation and the future church. One of those means is for the local church to establish an investment account which has the capability to receive contributions or legacy gifts that come in the form of cash, stocks, or bonds.
Such an account also would have the capacity to provide revenue for the local church as the investment grows. With these advantages in mind, the Emmanuel United Methodist Church (EUMC) Board has approved the establishment of a fund to receive financial gifts, which may also include stocks, bonds, and other financial instruments for the benefit of the church.
EUMC has opened an account with the Mid-Atlantic United Methodist Foundation to allow us to accept these legacy gifts.
Even those members who have passed away are able to continue to impact the church by their legacy giving. Consider the benefits of what we currently enjoy as a church because of what others have done before us. Now consider what legacy you desire to leave for the members to come.
Rev Dr Andrea King
Pastor, Emmanuel UMC (Beltsville)