Bethel Legacy Fund

While our faith invites us to contribute to the current work of the church, it also invites us to reach into the future.  To support our mission in this way, Bethel Mennonite Church has established a Legacy Fund.

The Legacy Fund receives contributions in support of the core mission of Bethel. Its primary use is to underwrite or subsidize special projects or initiatives which further that core mission. Program initiatives are privileged, but neither capital projects nor support of the annual budget are prohibited. Projects or programs can be allocated funding for a 2–3-year period, but normally will not receive on-going funding.

You are invited to support the Legacy Fund with a gift now, or through a designation in your will.

To discuss options for making such a gift, or to make an application to receive funds for a special project, please contact the church office or contact the Chair of our Bethel Legacy Fund Committee directly.

Background

In 2003 Bethel Mennonite Church established a Memorial Fund. The following guidelines governed this fund:

  • only interest from the fund was to be used, thus treating it as an endowment fund;

  • no money would be allocated from the fund until it reached the range of $300,000-$400,000, with interest earned from the principle to be accrued and compounded;

  • once the target amount was achieved, proceeds from the fund (i.e., only interest generated) could be used be used by Church Council and/or congregation;

  • the fund was to be used for Bethel special missional initiatives, with capital projects excluded

Since the initial vision anticipated no use of the fund until the target goal of $300,000-$400,000 was reached, the fund remained largely in the background.

Yet the fund did grow.  A few larger gifts 5+ years ago increased the fund to just over $300,000.  This instigated new attention to the fund, with a review process generating the following policies and criteria for its use: 

  • the fund was renamed the Legacy Fund;

  • the fund was administered by a Legacy Fund committee, appointed by the Finance Committee

  • grants from the fund were made upon application, with Bethel members, committees and others invited to submit applications;

  • grant applications were reviewed by the Legacy Fund Committee, which made recommendations to Finance Committee for disbursement;

  • the primary criterion for grants was that they align with Bethel’s overall vision, i.e., capital projects or projects outside of Bethel were not excluded;

  • up to a maximum of 20% of the principle could be allocated in a year.

The new approach has now been in place for just over 3 years.  During these years a number of grants were made.  They tended not to be large nor necessarily at the centre of Bethel’s mission.  At the same time, the fund continued to grow—it now stands at roughly $650,000.  This may thus be an appropriate time to ask some questions about how the fund is understood and used.

The Proposal

Proposal Reasoning

This proposal is based on the conviction that Bethel members and friends give to the Legacy Fund because they believe in and support the core vision and mission of Bethel Mennonite church.  Their gift to the fund is a way of contributing to this ongoing vision and mission.  An estate gift allows their support to continue for a period after their death—not indefinitely, as this is not an endowment fund, but for some years at least.  

This reasoning may imply that the use of this fund should become part of the annual Council and congregational budget setting process.  And perhaps it should.  But the reality is that it is easy for Council agenda to be dominated by carrying on regular programming.  The Legacy Fund Committee would have the space to brainstorm what new initiatives or programs currently not offered might most drive forward the Bethel mission.  The Legacy Committee would then not respond to grant applications coming to it, but rather have the freedom and responsibility to initiate and develop program and project proposals that have that have the potential to serve Bethel well.  On occasion it could be assigned the task of administering or overseeing the way the funds are used by a project or program.

Since Church Council is responsible for overseeing the overall Bethel mission, it would make the final decisions.  The Legacy Fund Committee would stimulate and assists Council to develop new initiatives.  It thus becomes a committee assisting Council in its role of managing financial resources so as to best serve Bethel’s mission.

How Much of the Legacy Fund may be Allocated

The following guidelines govern the allocation of Legacy Fund monies:

  • Up to a maximum of 12% of the amount in the fund at the end of the previous fiscal year may be allocated in a year;

  • Up to a maximum of 5% of the fund (within the 12%) may be allocated for the general budget, or for specifically labelled parts of the budget, e.g., seniors ministry; a specific program in community ministry, supporting camp workers, etc.

  • Allocations cannot lower the total amount in the fund below $400,000.

Purpose and Use of the Legacy Fund

The Legacy Fund supports the core mission of Bethel. Its primary use is to underwrite or subsidize special projects or initiatives which further that core mission. Programmatic initiatives are privileged, but neither capital projects nor support of the annual budget are prohibited. Projects or programs can be allocated funding for a 2-3 year period, but normally will not receive on-going funding.

How Are Decisions About the Legacy Fund Made

The Legacy Fund Committee works at new proposals through its own assessment of what might serve Bethel well, alongside conversation with Church Council, Bethel committees, the pastoral team, and possibly individuals or ad hoc groups. It has the role of stimulating creative thought about how the Legacy Fund might most effectively and impactfully drive the Bethel mission, and then developing proposals for these initiatives.

At least once a year it will meet with Church Council for discussion, and the testing or presenting of proposals. Church Council will make the decision about the use of the Legacy Fund for projects of less than $50,000. For projects larger than this amount Church Council will bring a recommendation to the congregation.

The Legacy Fund Committee also has the responsibility of promoting the fund, encouraging Bethel members to donate to it, either with gifts from their estate or through general giving.

Composition of the Legacy Fund Committee

The Legacy Fund Committee will consist of 4 members, nominated by the Executive, affirmed by Council.