The Unitarian Universalist Community Church of Santa Monica

Featured Articles - January, 2004

Board Discusses Its Decision Regarding Morgan Bequest

There was a long discussion at the December board meeting about the use of the $480,000 Earl Morgan bequest recently left to the church, with Pat McGuire and Kathy Cook in attendance. See Pat’s letter in the November newsletter for the points he made in urging that a portion of the money be given to aid “the poor, the environment, world peace.” Kathy Cook discussed the decision process, saying an attempt should have been made to get congregational input on the disposition before a decision was made. She expressed concern that the board had rushed the decision and the only information about it was in the October board report in the November issue.

For purposes of discussion, Warren Mathews moved that a special meeting of the congregation be called to consider any proposals members may make for the disposition of the funds. The motion was defeated unanimously, with with a board decision, and the board does not elect to reverse itself, the bylaws-approved method of redress is by petition. It would be an error for the board to call a congregational meeting to question its own decision, but use of the petition process is encouraged. The major argument in favor of the special meeting is that it would be non-confrontational for the board to take the lead in setting it, as a petition- forced meeting might be perceived as confrontational.

The board had not considered the allocation of the bequest to be controversial so as to require a congregational meeting.

The congregation had approved the building program, and without the Morgan bequest could not fully complete it. Redoing the sanctuary would have had to be delayed. The congregation has clearly indicated in earlier meetings that the sanctuary is an important part of the building program. In addition, the new building can contribute to the larger community by offering space to nonprofit organizations. The board reasoned that it had been elected to make decisions such as this and it followed the bylaws in the process of making it. The bylaws committee will consider a new provision on how to deal with future bequests.

With a Gift Annuity You Can Do Well by Doing Good

“You don’t have to be rich to give, only caring.” — Anonymous

“Enduring Gift” sure sounds like a very long time. The purpose of an enduring gift is to advance our efforts above and beyond the support received through the annual pledges. There are numerous ways to give your support to a Unitarian Universalist future. You may give through a cash gift, a will or bequest, a trust, a memorial gift, life insurance, an IRA or other retirement fund designation, or a gift annuity.

What is a gift annuity? It is a purchase of a tax-preferred financial instrument, and in exchange you will receive a lifetime guaranteed income. At your death, the remaining portion of the gift is paid to your named charitable beneficiaries. You may designate how your gift will be used. You may choose to have the satisfaction of knowing that you have added to the enduring mission and principles of our church.

Here are the benefits:

• You receive a lifetime, guaranteed fixed dollar amount paid quarterly. A person beginning her or his annuity payment at the age of 70 would currently receive 6.5 %. A 75-year-old person would receive 7.1 %. An 80- year-old person would receive 8.0 %. You may begin the annuity payments any time you wish.

• Annuity payments are part tax-free, part ordinary income, and part capital gains income.

• You may claim a one-time, charitable income tax deduction for a percentage of your contribution. Talk to your financial planner about the wisdom of giving a gift annuity to our church.

For further information contact Ron Crane or call the church office at (310) 829-5436.

— Ron Crane, Chair, Planned Giving Committee

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