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Review ECF's Package Re: Action to Protect Trust Investments

12/08/10

Earlier this year the Episcopal Church Foundation (ECF) became aware of certain provisions in the Pension Protection Act of 2006 (PPA) that have caused the Internal Revenue Service to change the tax status of many charitable trusts that benefit a parish, diocese, or other non-profit corporations that benefit the church. These trusts were often created under the Last Wills of parishioners and managed by a bank or trust company acting as the trustee.

ECF is an independent, lay-led organization that helps congregations and other Episcopal groups develop leadership and financial resources for ministry. ECF helps Episcopal churches, dioceses, schools and other ministries establish, manage and grow financial resources. Currently, ECF manages $170 million in endowment and planned giving funds on behalf of over 100 Episcopal institutions and thousands of individual planned giving donors. In this capacity, we are sharing important information regarding trusts.

This week ECF is sending letters to all diocesan bishops, chancellors, and administrators that explains the changes and includes several helpful resources dioceses can use as they assess their individual situations and work to support their parishes that may also be impacted. You can download a copy of the letter here.

This information includes 5 attachments:

If you have questions about this information, please contact Kate Adams, Vice President of Program at 800-697-2858 or email her here.