What is a Virtual Endowment (“VE”)?
A VE ‘shelters’ your gifts and stewards them over time in the St. Luke’s Foundation while allowing you flexibility for fulfilling your charitable giving goals to the ministries you are passionate about. A virtual endowment is simply, ‘money held’ in an account by the St. Luke’s Foundation in your name that is invested in order to grow and be used for the ministry areas you desire once it is fully capitalized.
The goal of our VE Program is to reduce the need for year-over-year fundraising or the emergency use of endowment principal for operational needs. A fully funded VE allows SLLCS to draw off the dividends and gains to be used to fund your charitable giving goals at St. Luke’s. There are several methods for funding a Virtual Endowment. Once fully funded, a Virtual Endowment will continually give to your chosen ministry areas indefinitely! What a wonderful way to ensure God’s work is supported in perpetuity!
Example: Establish a Virtual Endowment of at least $50,000
- Make arrangements in your estate plan to ensure your Virtual Endowment is fully funded from your estate. Simply supply us with paperwork that your VE has been added to your estate planning documents as a bequest item.
- If you do not currently have an estate plan, St. Luke’s Transfer the Blessings Ministry can help you.
- This type of fulfillment can also be achieved by taking out a life insurance policy and naming your Virtual Endowment as primary beneficiary. Annual premiums for this insurance policy are almost always significantly less than making a recurring monthly or annual gift.
There are alternative Virtual Endowment funding options to explore. Contact our Stewardship Office to find out more: firstname.lastname@example.org or 407-365-3228
- If you have ever desired to ensure that your favorite ministry areas could be funded indefinitely (even after the Lord calls you home); or if you have ever wanted to create an endowment fund, but lacked the ability to fully endow one all at once, then a Virtual Endowment was created with you in mind.
- Stewardship goals: As a baptized believer in Christ, we are called to steward the resources He gives you in this life for His Kingdom purposes as an act of worship. A Virtual Endowment allows you to make a considerable difference through long term giving opportunities, thus helping fulfill your stewardship response to His generosity.
- By having your VE gifts invested, over time your gift will grow unlike a standard donation.
- A VE permits your family members to contribute to your named fund (ex: the Lowman Family Fund). This is an especially rewarding way to honor a family member or a friend.
- A VE can include a direct estate plan giving opportunity (bequest) to ensure it is fully funded with no out of pocket expense to you to fund your VE.
- Commingling the funding of your Virtual Endowment with your Estate Plan charitable donations could assist your heirs in saving taxes with the inheritance you leave them.
- All of your funds are invested so over time they should grow and provide more resources for God’s Kingdom.