ENDOWMENT FUND FAQ
What is an endowment?
An endowment fund is a permanent, self-sustaining source of funding that is strategically invested. Each year, a portion of the value of the fund is paid out to support the fund’s purpose, and any earnings in excess of this distribution are used to build the fund’s market value. In this way, an endowment fund can grow and provide support for its designated purpose into the future. These funds can provide an ongoing source of income over time, on which Charis Bible College can make commitments and build its programs. As Charis’s endowment potential grows through prudent gifts and investment management, it will help to ensure the strength and stability of the college.
Is this endowment tax deductible?
Since Andrew Wommack Ministries dba Charis Bible College is a recognized 501(c)3 nonprofit organization, you will be eligible to receive a charitable income-tax deduction for your gift for its fair market value in the year you make the gift.
Why should I give to Charis’s endowment in addition to my regular giving?
Your regular giving goes directly into the operating budget and is used for short-term requirements. By also giving to the Endowment Fund, you are extending your giving influence across generations of people that will be helped by Charis Bible College. These funds provide a steady, predictable source of income over time on which Charis can make commitments and build its programs.
How does the Endowment Fund support the college?
A strong endowment fund allows Charis Bible College to pursue initiatives that increase our ability to reach as far and as deep with the Gospel as possible. In addition to providing stability for the future, endowment gifts help Charis attract and retain top faculty and recruit students from around the world. Students from the United States and around the globe may benefit from a scholarship provided by the Endowment Fund.
Why is having a healthy Endowment Fund so important to Charis Bible College?
It is our heart to make this message of God’s unconditional love and grace available to as many as possible. A strong endowment fund strengthens and enables Charis to offer more scholarships and financial aid, and that, in turn, helps in the recruitment and retention of students. A healthy endowment fund eases pressure on the college’s operating budget and means that our values and priorities, rather than external forces, influence our decisions to a greater degree. Endowment funds can insulate the college and provide a measure of independence from economic, governmental, and political forces, which, in these last days, is of the utmost importance.
Who manages the Endowment Fund?
Charis has retained the services of Kays Financial Advisory Corporation to oversee and manage the investment of this fund. The President, CEO, and Vice President of Charis Bible College are charged with overseeing and monitoring the performance and practices of Kays Financial and the investment of this fund.
What is Charis Bible College’s investment strategy?
Initially, the Endowment Fund will be invested in a relatively conservative allocation of publicly traded securities—primarily mutual funds, exchange traded funds (ETFs), and individual securities. The fund’s allocation and investments will likely change over time, depending on factors such as the fund’s size, liquidity needs, and the relative valuations of asset classes.
What considerations does Charis Bible College take into account with regard to spending endowment funds?
Endowment funds are crucial elements in any financial plan for supporting both present and future generations of students and faculty at the college. Like its peer institutions, Charis Bible College tries to balance the need for current revenue—to cover the cost of today’s program needs—with the need for appreciation in the fund’s principal value to protect and enhance the fund’s future purchasing power.
The Charis Bible College Endowment Fund is established to further the religious and educational purposes of Charis including, most importantly, providing needs-based scholarships to deserving students.
What are some examples of opportunities to endow educational activities and programs at Charis Bible College?
There are many ways to make a gift to Charis’s Endowment Fund. Gift opportunities fall into two basic categories: outright gifts, which are available for immediate investment by Charis; or bequests, in which Charis receives the gift upon the death of the donor. Examples of outright gifts include cash, stocks, bonds, and real estate. Below are some examples of each gifting method:
In addition to being a convenient way to distribute your estate, a will is one of the most important documents you will execute during your lifetime. A will can be a personal expression through which you provide for those people and institutions that are important to you. A will is your final message, reflecting your personal values and leaving a lasting legacy that you will be remembered by. Consider naming Charis as beneficiary in your will.
Though subject to certain rules, you can distribute funds from your retirement plans, such as a 401(k) or an IRA, or add Charis as a primary or contingent beneficiary. Adding Charis as a beneficiary can be as simple as filling out a short form, and it could mean a large gift for Charis without affecting your family's financial security.
Your saving for retirement represents a lifetime of working and planning. If you or your loved ones don't use the funds, why not arrange for Charis to put them to work for the glory of God? Assets in a retirement account will ultimately be taxed if you leave them to your heirs. Consider naming Charis as beneficiary of a portion of your retirement account(s).
By changing your life insurance beneficiary designation, you can distribute a percentage of the death benefit to help the ministries that are important to you. Consider changing the beneficiary designation partially or wholly to benefit Charis Bible College.
Stocks and bonds, especially those that have appreciated in value, are an excellent means of making a gift to Charis.
How do donors benefit from the Endowment Fund?
Alumni, parents, and friends of Charis Bible College who make endowment gifts are drawn to the opportunity to ensure that the College will continue. It is a way to take something temporal and turn it into something enduring. Behind every endowment gift is a personal motivation—to repay a debt of gratitude for the way their own life or the life of a loved one has been radically transformed by this nearly-too-good-to-be-true message that is going forth from Charis Bible College and its graduates. It is a way to perpetuate the gift of this life-giving message.
Inquiries concerning management of Charis Bible College’s Endowment fund or its investments may be directed to:
Charis Bible College
850 Elkton Drive
Colorado Springs CO 80907