Charter Gifts Bequests

MOUNT VERNON UNITARIAN CHURCH
CHARTER OF THE GIFTS AND BEQUESTS COMMITTEE

Purpose:The Gifts and Bequests Committee, working with the Treasurer, Assistant

Treasurer, Finance Committee and Office Staff, provides for the orderly processing of gifts and bequests to the Mount Vernon Unitarian Church (MVUC) and the maintenanceof programs and building projects do not fall within the responsibilities of this committee.

Definitions:Gifts are all gifts given "in memory of" or "in honor of" persons connected

with the life of MVUC.

Bequests are cash or real property that come to MVUC through a Last Will and Testament or a Codicil to a Last Will and Testament.

Endowment Fund is a fund where the principle will be inviolable except as stated in the MVUC Endowment Fund Policy.All bequests and interest earned on investments will be added to the Endowment Fund, except when specified otherwise in the bequest.In addition, a donor or the family of a deceased person may designate a gift to the Endowment Fund.The Endowment Fund is administered by the Endowment Fund Committee.

Special Fund is for gifts that are designated for a special item or project.

Membership:The Committee consists of three members or more, at least one of whom is also a member of the Finance Committee.The Minister(s), the Board Chair, and Treasurer are ex-officio members of the committee.

Responsibilities:The Gifts and Bequest Committee has the following responsibilities:

1.Maintain a gifts and bequests book to catalog memorials and record physical items given such as plantings, furnishings, or libraries.

2.Maintain gifts/bequests records (e.g., on date of BOT acceptance, location, provision for maintenance, location of plaque, working of plaque, church committee responsible for upkeep or care, and pertinent information.)

3.Report to the BOT and appropriate committees any problems with maintenance of given items, together with suggestions for solutions.

4.Make a recommendation as to the location of plaques.

5.Preparation of periodic revision of a Gifts and Bequests information brochure for public distribution serving as a guide to prospective donors on Church policies and advice regarding gifts and bequests.

6.Consult with appropriate people whenever proposed Church renovation or building plans impinge on sites of gifts.

Reports:

1.March:Annual Report on committee plans and accomplishments.

2.August:Annual Budget request for the committee.

Authority Delegated To The Gifts and Bequests Committee:

1. Oversee all projects and programs authorized by the Board of Trustees and funded by gifts given "in memory of" or "in honor of" individuals and bequests.
2. Keep records to perpetuate the memory of persons connected with the life of MVUC.
3. Promote and encourage the giving of gifts and bequests.
4. Turn over unspecified gifts and bequests to the Endowment Committee.
5. Insure that designated gifts and bequests are used for their designated purpose.

Authority delegated To The Treasurer, Assistant Treasurer, and Finance Committee:

1. In accordance with the By-laws of MVUC, Article VII, Paragraph 5, the Treasurer, Assistant Treasurer, or Collector shall be responsible for the accounting and financial reporting for the Special and Endowment Funds.
2. To oversee disbursement of all designated gifts as designated by the donor or the family of the deceased.
3. To invest the Endowment Fund as approved by the Board of Trustees.
4. With regards to the overall financial condition of MVUC, recommend the expenditure of undesignated gifts to the Board of Trustees.
5. Maintain a list of potential items or projects which might be the focus of a gift, if possible, with estimated costs.

Authority Delegated To The Office Staff:

1. Deposit all gift and bequest checks immediately in a depository or investment firm authorized by the BOT and give the receipt of deposit to the Treasurer or Assistant Treasurer.
2. Inform the Gifts and Bequests Committee of the receipt of a gift or bequest.
3. Acknowledge the receipt of a gift or bequest to the donor, friend, and/or appropriate family members.

Authority Reserved To The Board Of Trustees:

1. Authority to establish policies on the screening and acceptance of gifts or bequests.
2. Approval of projects to be funded by gifts that come through the Gifts and Bequests Committee.

 

Re-approved by the BOT April 13, 1998

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