2020 Endowment Fund Merit Based Scholarship
The CUMC Endowment Fund merit-based scholarship program will make one award, up to $3,000, to the selected candidate, that can be applied towards tuition, books, or other school related expenses during the 2020-2021 college school year. The scholarship will not be awarded if no applications are received that meet the selection criteria.
A Letter from the Endowment Committee Chair
To the CUMC Congregation,
The Centreville United Method Church (CUMC) endowment fund, established in July of 1998, has been focused on building a diversified portfolio with a long term investment perspective to help grow the vision and mission of CUMC. The purpose of the endowment fund is to provide support to the church for any expenses that might not be covered by the operating budget. To date, the endowment portfolio has grown to over one-half million dollars as a result of contributions and investment returns. Based on this amount, the Endowment can spend approximately $25,000 annually in projects to help support the church.
CUMC’s endowment fund operates through the investment of contributions and uses the interest generated for committee approved spending. As financial stewards, the committee has the responsibility to ensure that approved grant requests meet the requirements of endowment fund spending and align with the mission of CUMC and its respective ministries. Current sub-funds include the children’s ministry, music ministry, missions, space and facilities, and scholarships. Just this past year, through the missions fund, we provided $6,100 towards the construction of the CUMC Activity Field for installation of a baseball field to institute the “The Upward T-ball program”. This aligns with CUMC’s goals of drawing the community into our church family through youth oriented activities. It will also result in tax savings for CUMC by eliminating any potential real estate taxes on that parcel of land. This is just one of the many grants that have been approved. Other grants approved have been for scholarships, the Welcome Center in the Narthex, landscaping, audio and visual equipment, musical instruments, library resources, a commercial freezer, and mission support.
Contributions are vital to the success of the endowment fund. These contributions provide financial resources that are invested to grow the endowment fund and promote the mission of CUMC. Donors may support the endowment in many ways. Forms of contribution include cash, securities, bequests, life insurance, annuity trusts, real estate and proceeds from the sale of a business. In many cases, gifts of appreciated assets generate a tax deduction at the asset’s full market value and no tax liability for the donor.
Interested contributors can access the online giving section. CLICK HERE or contact Anne Muradaz at firstname.lastname@example.org for guidance on contributing. The Centreville United Method Church and endowment committee are thankful for the gifts that have been provided and look forward to continued contributions which will further enhance the vision and mission of CUMC.
Chairman of the Endowment Committee
Centreville United Method Church