Kansas Baptist Convention Foundation, Inc.
The Kansas Baptist Convention Foundation, Inc. is the investment arm of the American Baptist Churches of the Central Region. (It was founded in 1959, when we were known as Kansas Baptists.) We are a service organization designed to assist those of you who want to support the ministries of the local church, the ABCCR or its related institutions.
ORGANIZATION – The Foundation is governed by a nine member board of trustees who are elected on a rotating basis by the voting members of the ABCCR at the annual gathering. A maximum of 9 years of consecutive service is allowed. Current president is Freddy Moore, vice-president is Marti Johnson and secretary is Mary Funk. Other members include Jillinda Ansell, Gary Smith, Duane Ramsey, Scott Darling, Brad Fisher and Scott Stannard.
INVESTMENT TASK FORCE – This is a smaller group that meets quarterly with our investment counsel (Chris McGee and Brady Franklin with Endeavor Private Wealth Management) to discuss investments and any suggested changes. Current members are Freddy Moore, Jillinda Ansell, and Harold Wolgast. They report back to the entire board. All board members are welcome to attend these meetings in Topeka, if they choose to do so.
CHURCHES AND INSTITUTIONS ARE WELCOME TO INVEST through the Foundation. As of 8-31-2021 we were managing over $ 7.6 million. Investments are made in corporations that are morally and socially responsible (no tobacco, alcohol or gambling). Our rate of return has been very good although, obviously, some years are better than others. We charge 1% for managing funds of the different organizations and then we annually make distributions of the profits to ABCCR and other institutions within the Central Region. For the year 2020 that distribution was $41,357.10.
INDIVIDUALS can spread large donations to their churches over many years. There have been persons who wanted to give rather large sums to their churches but wanted to have the church receive only $$$ every month instead of all at once. The money was given to KBCF (the donor could claim the entire amount as a contribution that year), and a check is written to the church every month from those funds. This was done quite a few years ago for one church that is still receiving the benefits of those monthly payments.
WE ALSO OFFER CHARITABLE GIFT ANNUITIES—which give the designated annuitant (you or someone else) a fixed income for life and upon his/her death it goes to the ABC church or ministry that you have designated. This is NOT a commercial investment. It is an irrevocable gift of cash, securities or other assets to the Foundation. In exchange for the gift, KBCF will pay you or 1-2 other annuitants a fixed sum each year of life. We pay the same amount that any non-profit will offer and will write an annuity for as little as $1,000 for one beneficiary. Rates are slightly lower than in recent years but still far better than you can get on a CD or other guaranteed investment. Rates for 64-65 is 4.2%; age 70 is 4.7%; age 75 is 5.4%; age 80 is 6.5%; age 85 is 7.6% and if 90 or over it is 8.6%.
LIFETIME BIRTHDAY GIFTS FOR CHILDREN, GRANDCHILDREN OR GREAT GRANDCHILDREN A great way to guarantee that your child, grandchild or great grandchild receives a gift from you every year for their entire life is to buy a Charitable Gift Annuity naming him/her as the annuitant. A child from birth to 8 years of age is 1.5% paid annually (on the birthday, if you choose), so a $2,000 gift would pay them $30 every year for life, even after you have gone to your eternal reward. Rates increase with age of annuitant. Some who have been blessed with these gifts from parents say that every year it just reminds them of how wonderfully kind and thoughtful their parents were – even though they are no longer on this earth.
SMALL CHURCHES WITH OUTREACH MINISTRIES CAN RECEIVE GRANTS –Thanks to the foresight of one of our deceased annuitants, we now have $1,500 grants available to small churches (75 or under) who have an outreach ministry directed to/with the poor and needy families in their communities. Apply June 1 through August 15. Public recognition will be at the ABCCR Annual Gathering in October.
AWARDS TO PERSONS WITH ‘GRANDPARENTING’ PERSONALITIES There is also an award of $150 to someone who has that special ability to relate to children everywhere and whose lives exemplify Christian ‘grand-parenting’ that makes a significant impact on the lives of children in our church/community. Nominations can be made from July 1 – August 15 and up to one recipient from each area will be awarded at the ABCCR Annual Gathering.
MILLIONS OF $ HAVE BEEN DISTRIBUTED since we first started writing Charitable Gift Annuities in 1976. They have gone to local churches, ABCCR, International Ministries, American Baptist Home Mission Society, Bethel Neighborhood Center, Victory Village Christian Academy, and other ABC institutions.
TAX TIP –Charitable donations made directly from a traditional IRA can save taxes. People 70 ½ and older can transfer up to $100,000 yearly from IRAs directly to charity. If married, you and your spouse can give up to $100,000 each from separate IRAs. Qualified charitable distributions can count as the required minimum distributions, but they are not taxable, and they are not added to your adjusted gross income. You can’t deduct the donation as an itemized deduction. The IRA-to-charity strategy can be a good way to get tax savings from charitable gifts for taxpayers not taking charitable write-offs because of the higher standard deductions. The money from the IRA must go directly to a charitable organization. If you need help, just contact us. You can split this $100,000 among various ministries – you just need to have a separate transfer to each one!
TRANSITION TIME –Rev. Wilma E. Engle has been the Director of Planned Giving for the Foundation since November 2010. With 50 years experience in tax preparation, she is very familiar with inheritance/gift taxes, as well as income taxes. She would welcome the opportunity to visit with you individually as to how to accomplish your goals for the financial blessings God has provided for you. Everyone plans what they will give, even if it’s just the regular church offering, so why not plan a little further into the future.
Rev. Timothy Schwartz is now starting to work with her to get a little experience before assuming her position in 2022. We would welcome the opportunity to make presentations at your church, AB Men or Women’s meetings, or other groups as well as on an individual basis.