The Wayne and Theresa Allen Endowment Fund
“Theresa and I are honored to have our name attached to the endowment. The endowment can become a vehicle through which followers of Christ can become faithful stewards long after they have entered into their eternal reward.” -Dr. Wayne Allen
The Wayne and Theresa Allen Endowment Fund provides a special means by which members and friends of First Baptist Carrollton may leave a legacy that will continue to glorify God both now and into the future. Through the Endowment Fund, individuals and families can make charitable contributions to the church – from their current assets or through deferred gifts – that will be used to further the missions and ministries of the church far beyond each donor’s lifetime.
Here’s how it works: Stated quite simply, an endowment fund is a way to ensure that your gift provides revenue for your desired charitable purpose for years to come. Unlike gifts made to the church’s designated accounts, gifts made to the Endowment Fund are not spent, but are invested. The Financial Stewardship Committee (the members of which are elected by the church) then makes available a portion of the earnings from the Endowment Fund to be used for the charitable purpose. The remaining portion of the earnings remains in the Endowment Fund and continues to increase the fund’s value. Over time, the amount of money available for the charitable purpose that you named will far exceed the value of your original gift. Your gift will continue to have an impact in the ministries of the church for generations.
Established on March 4, 2007, the Endowment Fund was named in honor of Dr. and Mrs. Wayne Allen. Dr. Allen served as the pastor of First Baptist Carrollton for 34 years from 1965 to 1999. Dr. Allen frequently preached about the responsibility of Christians to support the ministries of the church through financial gifts. He faithfully taught the Word of God and never shied away from teaching biblical mandates for generously giving from all of the resources God bestows upon His children.
How to Make a Gift to the Endowment Fund
Gifts made to the Endowment Fund must be specifically designated in writing by the donor for the Endowment Fund. Because the Endowment Fund is a ministry of First Baptist Carrollton, gifts designated for the Endowment Fund are generally tax deductible as a charitable contribution to the church.
Making a gift to the Endowment Fund is very simple. Here are the steps that you should take:
- Step 1: Determine What Type of Gift You Wish to Make
There are many types of gifts that can be made to the Endowment Fund, each with its own tax consequences and savings to the donor. Learn more.
- Step 2: Decide How You Wish Your Gift to Be Used
Donors are able to pick from among four different designated uses for their Endowment Fund gift. Learn more.
- Step 3: Make Your Gift to the Endowment Fund
Simple gifts of cash or property can be made directly to the church. Other types of gifts, though, may involve some planning and preparation of appropriate documents by your financial advisors and lawyers. Learn more.
Prospective donors to the Endowment Fund are advised to consult with their attorneys and professional tax advisors in all matters relating to gifts to the Endowment Fund. Neither the church nor any of its representatives may provide legal, accounting, tax, or other similar advice in connection with any gifts to the Endowment Fund, nor make any representation as to the tax consequences associated with such gifts.