A Legacy of Love and Giving
The Lewinsville Presbyterian Church Foundation is a tax-exempt organization under section 501 (c)(3) of the Internal Revenue Code. Donations and bequests can be made directly to the Foundation with the same tax benefits as if they were made to Lewinsville Presbyterian Church. The Foundation, established in 1985, is charged with supporting large-scale projects and capital improvements, which would normally fall outside the regular operating budget of the church.
The Foundation processes all memorial gifts made to Lewinsville and also invests funds for various committees that are either permanent accounts or accounts holding monies that will be used in a future budget cycle.
To explore gifts to the Foundation, please contact the current Chair of the Foundation’s Governing Board, Paul Phillips via email (firstname.lastname@example.org) or regular mail at Lewinsville Presbyterian Church Foundation, P. O. Box 538, McLean, VA 22101. The Foundation will gladly provide general information regarding donations and bequests upon request.
The 1% Distribution – Ties that Bind
A message from the
Lewinsville Presbyterian Church Foundation Governing Board
What do the recent establishment of The 1846 Covenant Society, the payment of the “Peters’ Property” mortgage and the annual 1% distributions made to Lewinsville from 2005 through 2008 have in common? Answer: They are all initiatives of the Lewinsville Presbyterian Church Foundation.
The purpose of The 1846 Covenant Society is to recognize members and friends of the congregation who have indicated they have included Lewinsville in their estate planning. The Foundation’s current payment of the “Peters’ Property” mortgage and the “1% Distributions” were made possible through income earned by the Foundation’s Endowment Fund.
The Foundation was organized as a responsible way to provide stewardship of the bequests and gifts made to Lewinsville. Over the years its Endowment Fund has grown and now stands at slightly above $1 million – but it is not yet where its founders hoped it would be. Growing the Endowment Fund is one of the Governing Board’s primary goals.
On October 18, 2009, The 1846 Covenant Society was announced to the congregation and an invitation was extended to join our new legacy organization. If you have a will and have made provisions for Lewinsville in your estate planning, you are eligible to become a member. For additional information, please CLICK HERE or click on the link to The 1846 Covenant Society on the menu on the left.
In 2007, Lewinsville and the Lewinsville Retirement Residences had the opportunity to jointly purchase the “Peters’ Property,” which was adjacent to both of their current properties. To facilitate the transaction, the Foundation agreed to assist by paying the church’s monthly mortgage payment on its “Peters’ Property” loan. These payments are approximately $26,000 annually.
Beginning in 2005, the Foundation provided Lewinsville an annual one percent distribution based on the total value of the Endowment Fund as of the end of each year. Through January 2008, $42,535 was disbursed from the Endowment Fund to Lewinsville for capital projects outside the normal operating budget. In August 2008, the Foundation and Session agreed to suspend the annual one percent distribution until such time as the Foundation’s financial obligations pertaining to the “Peters’ Property” loan are reduced.
The Governing Board extends its gratitude to donors – past and present – whose generous gifts continue to strengthen the Foundation. Your gifts have made possible the purchase of the “Peters Property,” loans (later forgiven) that helped jumpstart Chesterbrook Residences, and many improvements to Lewinsville Church, including a computer system, carpeting and furniture for the youth center, extensive landscaping and exterior doors for St. Andrew’s Hall, to list a few.
BE SURE TO VISIT THE 1846 COVENANT SOCIETY PAGES
BECOME A MEMBER TODAY!