October News, 2023

Start A New Scholarship–Multiply Your Impact

Pastors and church leaders should plan now to offer a $1000.00 scholarship to students in your congregation. Then, watch the money multiply when your awards are matched in The United Methodist Dollars for Scholars program.

This program involves matching support of your church scholarship by the UM Higher Education Foundation, as well as participating United Methodist-related schools and the United Methodist Foundation of Michigan. Awards may total up to $4,000!

Rev. Dr. David Bell, President and Executive Director, commented, “We are delighted to continue our participation in the UM Dollars for Scholars awards. As a recipient nearly 35 years ago, I know firsthand the impact that this scholarship can make on a student. Our partnership with the highly respected UMHEF aims to make it financially possible for qualified students to attend UM-related institutions of higher education.”

Find More Information here.

Key Elements of SECURE 2.0–New legislation impacting giving options.

A massive new retirement savings package was signed into law last December. The law is commonly known as SECURE 2.0 or the SECURE 2.0 Act. Several provisions have already begun, but many others do not take effect for another year or two. More than ninety provisions are included in the overall plan.

SECURE 2.0 has implications for individual retirement planning and how people will make charitable gifts to the church and beyond. Larger catch-up provisions for those close to retirement, higher age limits for required minimum distributions from traditional IRAs, and more opportunities to protect against running out of money in later years are all integral to this major legislation.

Learn More

S. Lyon First UMC and the MI Area Loan Fund–Partners In Ministry

South Lyon First UMC celebrated its 190^th year in ministry on September 24, 2023. Earlier in 2023, they partnered with the Michigan Area Loan Fund to complete some significant maintenance to their rooflines and HVAC systems.

“Choosing to work with the Michigan Area Loan Fund was easy and allowed our church to move forward with significant maintenance projects so that we could keep ministry in motion. We know we can reach out to the United Methodist Foundation of Michigan for help when we need it. Their resources go a longway to support our ministry efforts,” according to Rev. Mary McInnes.

With the help of the loan fund, the church was able to develop its fundraising plans while the project moved forward.

The Michigan Area Loan Fund, operating since 1969, is a ministry related to the United Methodist Foundation of Michigan. The Fund serves congregations across Michigan with United Methodist or historically Wesleyan connections. The Fund provides both investment opportunities and lending services at competitive rates.

Investments transform local churches by expanding ministries, renovating church facilities, buying property, and launching technology upgrades. The Fund provides loans at favorable rates and terms and, thus, is ideal for churches shifting away from a higher rate commercial loan.

Karen Thompson, Senior Director of Loan Services, is available to discuss the ways in which the Loan Fund can benefit your church’s ministry. More information is available online at www.UMFMichigan.org or by contacting karen@umfmichigan.org .

Foundation Awarded 2023 Platinum Seal of Transparency

The United Methodist Foundation of Michigan has earned a 2023 Platinum Seal of Transparency from Candid (formerly GuideStar). The designation is only awarded to charities illustrating the highest level of responsible fiscal management and commitment to accountability and transparency. As the largest source of information about philanthropy globally, Candid is recognized internationally for providing the most comprehensive data and insights about nonprofits and the social sector.

The Foundation is thrilled to be among this cohort of organizations which seek to make a difference in people’s lives. Building for this future, Candid is the premier source for non-profit organizations to attain recognition for their nonprofit business best practices.

October News, 2023

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