IRA Transfer Gift will establish an Endowment
Then he explained that his beloved wife, Virginia, was an organist who played in many different church settings. That variety of worship experience created an appreciation for ecumenism and a need for what Chuck calls "portable missions". By that he meant that they wanted to find a place where they could consistently send their mission support dollars regardless of where they worshipped.
Always the scientist, Charles did his homework in searching for a charity, and in his words, "Church World Service simply stood out because of your breadth of program, low overhead, use of local partner organizations, and that you were welcomed all over the world because you didn't proselytize. Church World Service is imbedded into cultures all around the world, and that has impressed us all these years."
Virginia had fought a ten-year battle against cancer when she passed away on New Years Day 2004. "That experience," Chuck said, "forced me to face my own mortality and focus on what is important to me. We enjoyed a wonderful life together for over 50 years, and now it is time to do what I can to help ensure that the values that are important to Virginia and me get passed on." At the congregational level he did that by helping Church World Service receive a $10,000 grant for our orphans and vulnerable children program in Africa.
On a personal level, he felt that creating a permanent endowment with Church World Service in memory of Virginia was the perfect way to help pass on those values that were so important to both of them. When we shared a way for Charles to leverage his gift to us through the use of life insurance, he was even more enthused. He learned that, through the use of an insurance policy, the impact of his gift to us would be nearly doubled and that made his gift to us all the more significant.
Charles is taking advantage of the recent legislation permitting charitable gifts through the direct transfer of funds from IRAs to make a substantial gift to Church World Service. We, in turn, will buy a life insurance policy on Charles's life, the proceeds of which will one day fund the endowment he has created. Charles said it best when he added, "I want to do what I can now so that a little bit of what is important to Virginia and me lives on. I hope this challenges others to do the same."
What a legacy. Thanks, Charles.
--Ronald Blaum, Director of Gifts & Estate Planning