Memorials - St. Paul's Episcopal Church

Memorial gifts may be made in two forms: cash or other easily liquidated assets (stock, bonds, real estate), or in the form of material objects, so-called “gifts in kind” (vestments, statues, art work, liturgical implements).

Gifts of Cash or Easily Liquidated Assets

The Vestry shall approve the acceptance of any restricted gift or memorial fund where a donor has imposed constraints or conditions on the use or purpose of the money, with the understanding that once a contribution is accepted, there is a legal obligation to honor the donor’s restrictions.

I. If the gifts(s) given for a restricted or memorial fund total LESS THAN $5,000, the donation will be handled as follows:

A. Thank you note(s) to donor(s) to be written promptly by the Rector, with the aid of volunteers.

B. If there are no written instructions with the gift, the monies will be deposited into the Memorial Fund for the discretionary use of the Vestry in meeting unbudgeted parish expenses.

C. If there are written instructions with the gift, the Rector and Vestry shall determine if there are potential problems with the restrictions that should be brought to the donor’s attention. The Rector and Parish Treasurer will confer with the donor(s) to match, as closely as possible, the donor’s restrictions to the accounting and business practices and ministry programs of the parish.

II. If the gifts(s) given for a restricted or memorial fund total MORE THAN $5,000, the donation will be handled as follows:

A. Thank you note(s) to donor(s) to be written promptly by the Rector, with the aid of volunteers.

B. If there are no written instructions with the gift, the monies will be deposited into the Searle Endowment.

Gifts in Kind

St. Paul’s Parish may accept gifts of equipment, supplies, professional services, furnishings, books, vestments, transportation vehicles, worship aids, or any other personal property that add materially to accomplishing the mission of the parish or that may be sold to provide additional cash assets. Other gifts of personal property that may provide income or be sold to provide funds to further the parish’s mission may be accepted at the discretion of the Vestry. Such gifts may include works of art; automobiles; stamp and coin collections; antiques; furnishings; oil, mineral, gas, patent and other rights; rare books; collectibles; household items; and so forth. Valuation of gifts-in-kind is strictly the responsibility of the donor. All appraisals shall be paid for by the donor.

A Memorial Gifts Committee has been established to review with the donor the propriety of any proposed gift in kind and to advise the Vestry with regard to acceptance of any such gift. The Vestry of St. Paul’s Episcopal Church may reject any gift-in-kind deemed not to be in the best interests of the church and has final authority to liquidate or of any gift-in-kind in any manner. If an item has been accepted by the parish for use for a particular purpose, when and if the ministry no longer has use for the item, the Vestry may dispose of it as it sees fit, even if originally restricted for a particular ministry by the donor.

Proceeds from the sale or disposal of such gifts will always be the property of the church, and will be added to the Memorial Fund or to the Searle Endowment as determined by the Vestry.