Profiles of GivingThe late Rev. Walter Lockett served for 65 years in Christian ministry in the Virginia Conference. Durign his lifetime he established four charitable gift annuities with the United Methodist Foundation. The donor received a lifetime income from the annuities and then the remainder values went to seven important causes. Margaretta Stephens taught school in Henrico County and in Harrisonburg. Mrs. Stephens had established a charitable remainder unitrust with the Conference Foundation from which she received an annual income and which will benefit the work of the Conference Foundation in the future as the remainder beneficiary. Charles Kiracofe, a former chair of the Foundation who worked with Mrs. Stephens in establishing this trust, said, "She saw a need to help ensure the future work of the Foundation throughout the conference. The trust fund benefited Mrs. Stephens during her lifetime and she had the satisfaction of knowing that one day it would be helping others."
Russell and Louise Fox have a vital interest in the Virginia United Methodist Assembly Center in Blackstone. Louise is a graduate of Blackstone College and president of the Blackstone College Alumnae Association. Russell is a Ph.D. graduate of the University of Virginia and a retired Westinghouse physicist. They both are longtime Sunday school teachers and Louise taught in the Hampton public schools. Together, they have established, through the United Methodist Foundation, the Russell and Louise Fox Endowment to provide funds for an annual seminar on science, ethics and religion at the Virginia United Methodist Assembly Center. Bill and Frances Hanna were longtime United Methodists, many of their years spent at Scott Memorial in Virginia Beach. Dr. Bill is a retired geologist and his deceased wife, Frances, taught school. The Frances Shelton and William J. Hanna Unitrust, created from the proceeds of the sale of their home and some appreciated stock, will eventually provide annual support for the work of the Conference Foundation. Meanwhile, the Hannas have been receiving an annual income from the trust. "This fund will allow us to expand our work with local churches — large and small — in establishing new and strengthening existing endowment programs, " said Bill Powell, past chairman of the Foundation’s board. Dr. Raymond Wrenn is a retired pastor of the Virginia Conference and former conference council associate director. He has challenged Camp Overlook in Rockingham County to raise $500,000 in endowment, which he will match over several years in gifts through the Virginia United Methodist Foundation. Wrenn said he is impressed with the camp’s ministry and wants to be sure it continues to operate even if some current sources of income are not available in the future. "Raymond Wrenn has been a generous supporter of Camp Overlook and now he is leading us in this major endowment initiative," said Ron Robey, camp director. Wrenn’s gifts for the Camp Overlook endowment are being made through charitable gift annuities. The late Ralph G. Roop was one of the early directors of the Virginia United Methodist Foundation and served a number of years as chairman of the Foundation’s investment committee. A leading Virginia businessman and longtime United Methodist at Ginter Park and Trinity Church in Richmond, Ralph, and his wife, Inez, have been generous supporters of many church-related causes. Ralph had established two charitable remainder unitrusts with the Foundation — one which benefited Virginia United Methodist Homes and another to perpetuate their commitment to the Revealing Christ Campaign. Edgar and Alice Potts served for 50 years throughout the Virginia Conference including terms as superintendent of the Lynchburg and Norfolk districts. They had a strong interest in the Volunteers in Mission (VIM) program. After her husband's death, Alice wanted to encourage members of Centenary Church in Lynchburg to participate in this program and established an endowment fund through the Conference Foundation, which will provide annual income to the church for this purpose. The Centenary United Methodist Women will administer the VIM scholarships from the Edgar A. and Alice Ruth Potts Endowment. Six friends of Camp Overlook have established charitable gift annuities with the Virginia United Methodist Foundation as an initial response to the Raymond Wrenn Camp Overlook Endowment Challenge. The gifts of Robert N. and Marian Suter, and Garnett and Lena Turner, and Eleanora and Aubrey Liskey will eventually benefit the camp. Meanwhile, they will receive life incomes from the gift annuities which were funded by appreciated securities at a considerable tax benefit to the donors. The Rev. Robert Haley, former chair of the Camp Overlook board, praised these initial leadership gifts from these loyal friends. The charitable gift annuity provides a set lifetime income for the donor based on age and the amount of the gift. The donor receives an immediate income tax deduction and a portion of the annual income to the annuitant is tax exempt. If appreciated securities are used, the donor may receive additional favorable tax benefits. The charitable gift annuity may be established as a single-life or a two-life annuity. The late Phil Ryther liked to help people, particularly underprivileged children. For several years, he sponsored a unique outreach program for children at Aldersgate United Methodist Church in Alexandria. Later, he established an endowed scholarship fund through the Virginia United Methodist Foundation for children to attend Camp Highroad, children who would likely otherwise not be able to do so. The endowment fund is invested through the Foundation and a percentage of the income each year will go to these scholarships. "This is a wonderful outreach ministry which Mr. Ryther’s gift is allowing us to perform," said Rick Dawson, director of Camp Highroad. |
