FAQ

 

+ What is the Calvary Reformed Church Foundation?

The Calvary Reformed Church Foundation is a tax-exempt corporation formed to support the ministry of the Calvary Reformed Church of Ripon, California. Its purpose is to provide a vehicle for the friends of Calvary to support the church in special ways right now and to remember the church in their wills, trusts and memorials. Through the Foundation, they can be assured that such funds will be administered for the benefit of Calvary Reformed Church programs, but separate from the annual operating budget.

+ Why was a Foundation established and for what purpose?

Following a Wills and Trusts seminar, the law firm who met with many of our people, informed the Consistory that there are many Calvary members who have a real heart for the church and that a number of people would like to give significant gifts if they can do so without hurting the church.

+ How can giving gifts directly to the church ever hurt the church?

Significantly larger gift amounts suddenly given to the General Fund can give the membership the impression that the church no longer needs their support. Whatever we cease to support also becomes less important to us. Jesus said, “Wherever your treasure is, there will your heart be also.” A church should always need the gifts, talents and financial support of every member.

+ Are there any other benefits for larger gifts going to a Foundation?

Yes, the Foundation members, acting as a separate support corporation for the church, will see that gifts are kept separate from the other church funds and used only for their designated purposes. The giver may want to have his or her gift used only for what is dear to his or her heart and this can be accomplished through the Foundation. The list of ideas for funding is endless.

+ Who will make the decisions on the Foundation’s expenditures?

The foundation is governed by a Board of eight Directors approved by the Calvary Reformed Church leadership team. Additional members include the Lead Pastor, who serves as an ex-officio board member, and a financial consultant.

+ If a gift is given for future church needs, so the money is not used immediately, how will the money be invested?

The Board of Directors will make the decisions on how best to safely invest the funds. Any such investments will be made on a conservative basis with organizations which follow practices that are not in conflict with Biblical principles.

+ If you have already remembered the church in your will, do you need to change it?

No. The foundation has been established as an alternative for people who would rather leave their money to a separate entity which will emphasize capital needs and other areas of support not normally included in the church’s annual operating budget. If you have named the church in your will, the Consistory will determine how the gift is to be used. The Consistory will also diligently honor how such funds are used if the donor has indicated a specific desire.

+ Is the Foundation prepared to handle more complex giving?

Yes. The foundation has established a relationship with the Barnabas Foundation. Barnabas is a Christian organization that provides a free estate planning tools to member organizations. The Calvary Foundation is one of those members. There are many different ways to plan estates and Barnabas is well-versed in all of them and can help you choose what is best for your family. We encourage you to reach out to a board member if you have any questions or click on the Barnabas link.

+ Can the Foundation be named as the beneficiary of a life insurance policy?

Yes, naming the Calvary Reformed Church Foundation as a beneficiary of a life insurance policy could produce desirable estate and income tax advantage.

+ Can the Foundation accept memorial gifts?

Yes, giving can be made in memory of a loved one. It is also appropriate to make similar gifts in honor of living persons who you desire to show appreciation for something special they have done for others.

+ Can the Foundation accept gifts of securities or real estate?

Yes. Many people have discovered the tax advantage of contributing appreciated securities or real estate to tax exempt organizations and the Calvary Reformed Church Foundation is prepared to handle such gifts. Also, in estate planning it is sometimes beneficial to name charities as direct beneficiaries of IRA or Keogh plans. The Foundation can and is also prepared to receive those gifts.

+ Will the money that is left to the Foundation avoid taxation in one’s estate?

Yes. The Calvary Reformed Church Foundation is a tax exempt organization under section 501 (c) (3) of the Internal Revenue Code and amounts left to it will not be included in your taxable estate.

+ Is the Foundation mainly designed for the estates of wealthy people?

No. It is designed to be of assistance in helping people think through and plan the distribution of assets remaining when our life on earth has ended. We will all have estates – some large and some small – and the Calvary Reformed Church Foundation can be used to transfer a percentage of what remains at death to further God’s work in the local church. Of course, large estates benefit more from the tax aspects of bequests to tax exempt organizations, but that is not the main reason the Foundation was formed. It is the commitment – not the gift – that is important.

+ How can I specify where my gift will be used?

It is always possible to designate how you would like to have the Foundation use any funds given to it and the Board has established procedures to assure that your wishes are honored.

+ Who currently serves on the board?

Ward Schemper, Ben Sweet, Marty Van Duyn, Mike Weststeyn, Kurt Eskes, Glenn Spyksma, Ryan Van Groningen, and Anne Maria Boersma.