THE ENDOWMENT TRUST of First Baptist Church of Greensboro was developed in the late 1990s at the request of members who were seeking a way to manage their contributions to FBC as long-term investments that would support special religious purposes. The church adopted the Endowment Trust on February 19, 1997. The purpose of the trust is to provide an opportunity for individuals to express their stewardship, during their lifetime and beyond, by making gifts that will advance the ministry of the church in areas not provided for through the budget. Gifts made to and received by the trust do the work committed to his church by Jesus Christ our Savior and Lord, and exemplify the Spirit of Christ at work in the world.
The trust can receive and manage contributions, gifts, bequests (gifts by will), gifts of property and/or corporate stocks, grants, devises or other transfers, and disburse the net appreciated assets of the trust for designated purposes or for use by FBC. The trust’s assets are invested with the primary intent of long-term preservation of capital and generation of income. The trust is managed internally by a standing committee of five trustees, elected by the church to serve five year terms.
Gifts to the trust are not intended to replace or replenish funds that are budgeted for routine operating expenses. The trust was not set up to support or underwrite the budget of FBC or to interfere in any way with regular giving by its membership. Rather, various accounts or funds have been set up within the trust with designated purposes that are identified in the trust documents.
The W. Randall Lolley Endowment Fund for Christian Religious Purposes
This fund was established to honor Dr. Lolley upon his retirement, by perpetuating endeavors that characterized his ministry. Such endeavors include creative and innovative mission outreach, theological education at home or abroad, scholarly writing and consultation with new churches.
The Capital Assets Endowment Fund
Unusual Building / Maintenance Projects
The Capital Assets Fund maintains monies to be used for exceptional care needs and maintenance of the FBC campus (buildings, land, parking facilities, renovations) by funding projects outside the ordinary expenditures of the Major Maintenance Fund. It is not intended to replace or replenish funds normally budgeted for routine maintenance.
Church Building, Theological Education, Missionary Support
This fund provides for extraordinary mission efforts, including, but not limited to, new church development, repairs and/or maintenance of church buildings, grants to support theological education, and grants to support missionaries and their work.
The Claud B. & Louise L. Bowen Scholarship Fund
The Bowen Scholarship Fund, established by the Bowen’s children, is designed to assist youth who are active in the church’s ministry with their education.
Management & Investment of Funds
First Baptist Church of Greensboro uses the North Carolina Baptist Foundation, Inc. to invest and manage the funds, as well as to maintain an investment policy. The foundation has a well-established history of serving North Carolina Baptist churches and agencies and makes every effort to ensure that the funds are invested in socially responsible securities. The trustees monitor and distribute earnings in accordance with the rules established at the time the trust was established.
Frequently Asked Questions
What is the purpose of the Endowment Trust and why was it established?
The Endowment Trust was established to provide church members and friends a special opportunity to support the long-term welfare of the church and its outreach programs, and as a way to honor their Lord by using their resources to further the kingdom during their lifetime and beyond. Contributions to the trust are maintained in perpetuity and help provide financial strength to the church in the years to come.
What is the Endowment?
An endowment is:
- a permanent transfer of money and/or property to an institution from which the income is used to serve special purposes as designated by the donor;
- unique in that its purpose is not to receive and immediately spend, rather it is designed to receive and invest for income and future growth; and
- able to provide certain tax benefits for donations; consult your tax professional or speak to our church administrator.
Why should I donate to the Endowment Trust in addition to my regular FBC giving?
How can I make a contribution?
You may make donations by check, stock transfer, or IRA distribution designating “Endowment Trust” and the fund name on the envelope. As a donor, you can specify your desire to contribute to an existing endowed fund listed, or make a contribution to FBC and specify it is for the Endowment Trust.
How can I find out more about the Endowment Trust?
Talk to the pastor, church administrator or one of the trustees. The church office can provide names and contact information.
There are many ways to make a charitable contribution to the church while protecting and enhancing your personal and family financial situation. Thoughtful planning with your financial advisor is encouraged. Your gift, of any size or manner, is important to your future and to the future and mission of First Baptist Church Greensboro.