Individuals, couples, or families may establish their own Endowment Account and designate the use of the quarterly distribution. An Endowment Account ensures that the people in whose name(s) it was established will be remembered as people who made a difference.
The Covenant Endowment Trust can accept gifts of cash and/or marketable securities (possible tax avoidance).
Endowment Accounts may be established either during a person’s lifetime, or at death by naming an Endowment Account as a beneficiary. For a gift at death, a new or existing Endowment Account may be named as the beneficiary of a will, trust, life insurance policy, IRA, pension plan, profit/sharing plan, 401(k) plan, or other qualified plan or single-premium annuity. The Endowment Account may be established now and increased with additional funding in the future.
A gift can be made now, the account established, and the ministry begins receiving income this year. The principal remains in the Covenant Endowment Trust account in perpetuity (forever), unless the donor specifies that the principal may be paid out after a term of years.
Individuals can also name the Covenant Endowment Trust to receive a bequest from a will or trust. The account is established after death, and the ministry receives income each year thereafter.
800-483-2177 (central office)
844-616-3388 (toll free-direct line)
temitchell@covenanttrust.com