Leaving Your Legacy

Planned Giving

Planned giving is simply the term used when you plan ahead of time who gets your assets when you die and decide that charities you love should be included. Supporting our church is a tangible affirmation of faith. Planned giving can take many forms, and many of them are simple to execute. The James I. Vance Society recognizes those who make a planned gift or an outright gift to the overall endowment program of First Presbyterian Church.

James I. Vance Society

The James I. Vance Society recognizes those who make a planned gift or an outright gift to the overall endowment program of First Presbyterian Church. The Vance Society strengthens and expands the gospel-centered work of this congregation. By supporting the ministries and programs of the church through planned giving or endowment contributions, members and friends bear witness to their love for Christ’s church and the lasting impact of this faith community for generations. 

Giving to the endowment fund ensures that First Presbyterian continues to make Christ known to all who encounter this place. Planned giving is a way we, as members and friends of First Presbyterian Church, can share a portion of accumulated assets, over and above annual giving, to support the mission of First Presbyterian in perpetuity.  

Who Was James I. Vance?

Born in 1862, James I. Vance was a longtime pastor of First Presbyterian Church of Nashville and was voted one of the nation’s twenty-five leading pulpit ministers in 1925. He was a graduate of King College and Union Theological Seminary. Vance began his ministry at First Presbyterian Church in 1894 and retired in 1936. In his ministry, writing, and community activities, Vance was skilled in adapting the traditional beliefs of Christianity to the issues of the day. He was a sought-after guest preacher in churches nationwide. The James I. Vance Society acknowledges these and many other contributions to First Presbyterian Church of Nashville by naming the endowment’s donor recognition program in his honor. 

Leaving Your Legacy

For over 200 years, God has generously and graciously provided this congregation with everything we need to serve Christ and his kingdom.

How do we respond to these blessings poured out to us in countless ways? Giving to First Presbyterian Church, in whatever form, is an act of faith where we demonstrate our commitment to the church of today and future generations.

Supporting the endowment of First Presbyterian is a tangible expression of that commitment and trust that our Lord will use gifts—given thoughtfully and faithfully—to expand this outpost of the kingdom.

The saints of First Presbyterian that have gone before us have invested faithfully into this place, leaving a rich heritage of serving our congregation, city, and partners worldwide. This legacy is worthy of our pursuit and commitment: faith in a future that we may never see or know but a faith grounded in what Jesus calls us to.

Your Legacy Support

You can support the church endowment program in several ways. Some members prefer to contribute to the endowment fund from accumulated net worth. Others may support the endowment by making periodic contributions. Still, others may choose to include First Presbyterian Church in their estate plans. Any of these avenues of giving is an opportunity to leave a lasting legacy and, at the same time, express our love for Christ’s church by making a testament about the values that we treasure most–our devotion to Christ, to his church, and his kingdom. 

Vance Society donors may designate or restrict their gift for a specific purpose or add to the James A. Webb III General Endowment Fund. If an endowment gift is not designated, the contribution will be directed to the Webb General Endowment Fund. 

If you desire to establish a new endowment fund for a specific purpose, a commitment of $50,000 or more is required but may be funded over an extended period of time. 

An endowment is a perpetual fund designed to support various ministries and programs of the church into the future. But endowments are not meant to replace the regular giving that funds the church’s annual budget. Instead, the endowment fund program will help ensure that First Presbyterian Church has a bright, secure future: a way forward for another 200 years! 

The income generated from the endowment enables the church to respond to special mission and outreach opportunities and to provide resources that sustain the programs and facilities of our church. The ongoing capital needs of our extensive facilities, spread over a beautiful 65+ acre campus, and 250,000+ square feet of building space are constant. However, capital needs can strain the annual budget and limit our programmatic and mission activities. Income from the endowment fund can enable us to address our capital needs in a planned, orderly, and timely way. In addition, providing long-term funding for the capital/building allows us to direct resources to programs, missions, and outreach activities. 

Endowments are permanent in nature, and good management is essential. Your gift will be managed with the utmost care. Special investment and spending policies govern all endowment gifts. These comprehensive policies are transparent and designed to ensure the gift adheres to the donor’s intent.  

Planning Your Gift

Some Vance Society members choose to support the endowment program with a gift or pledge while still active and engaged in the life of the church. All members, however, participate by making a planned or deferred gift. Planned giving is a meaningful way to declare our legacy and support First Presbyterian’s long-term ministry. And it offers the donor a wide range of giving options with different tax options depending on the type of planned gift made. Gifts may be structured in such a way as to express each donor’s interests and tax goals.

Donors have numerous ways to make a planned gift with differing advantages and benefits connected with each one. As you consider these options, we encourage you to consult with your financial advisor or tax attorney to discuss which planned gift opportunities best fit your circumstances. Examples of several common methods:

The bequest is the most often utilized endowment gift, which is a gift conveyed through your will. A bequest can take the form of cash, securities, real estate, or other property. It may be a specific dollar amount or a percentage of the residuary estate. It can be unrestricted or may be designated for a particular purpose. Including First Presbyterian in your will is a compelling testament to your heirs regarding the values and beliefs you treasure most.

Life insurance can be used creatively to make a gift, which can provide tax deductions and may enable the donor to make a much larger gift than might otherwise be possible. First Presbyterian Church can purchase a policy on the life of the donor, the donor’s child, or grandchild. The donor reimburses the church for the premiums with a tax-deductible pledge over several years. The donor may also amend an existing policy so that First Presbyterian Church is named as the beneficiary.

With the CGA option, the donor invests in a fund that benefits the church at the donor’s death but, in the meantime, provides a steady stream of guaranteed income to the donor. The payment’s interest rate is based on the donor’s age at the time of the gift. This means that for older donors, their guaranteed payment may significantly exceed the payment that would result from current market interest rates.

The CRT gift is invested, and the donor receives a return on the fair market value. There are two basic types of CRTs, each of which offers potential tax advantages. The Charitable Remainder Annuity Trust offers the security of a fixed-income payment, while the Charitable Remainder Unitrust offers the opportunity for income growth.

The CLT transfers assets to a trust that provides income to the church for a set period of years. At the end of that period, ownership of the assets reverts either to the donor or to another party designated by the donor.

This is an agreement by the donor which deeds the church ownership of the real estate but reserves the right of the donor to live on or use the property for life.

A gift of real estate is one of the most convenient ways to make a substantial gift to the church. The donor may bypass taxable capital gains on the appreciated value of the property and can receive an immediate tax deduction. In addition, a residence can be given while the donor retains lifetime occupancy.

Many donors may find that they can realize substantial tax advantages by making gifts of appreciated stock to First Presbyterian Church. In such cases, the tax liability on the appreciated value of the securities may be avoided, while the donor may receive a charitable deduction for the stock’s full market value.

Tax laws make giving from your IRA a convenient and attractive way to make a charitable contribution. A popular method of making a deferred gift is to designate the church, via instructions to the IRA custodian, as a primary or secondary beneficiary of a certain percentage of the IRA. Such a designation can be made by IRA owners of any age. IRA owners above a certain age (currently 72) must make potentially taxable withdrawals each year, known as Required Minimum Distribution (RMD). However, income taxes on RMDs within certain limits can be avoided if the withdrawal is paid directly to a qualified charitable organization (QCD). You can instruct your IRA custodian to pay First Presbyterian Church directly.

Pledges to the endowment program can be made over a period of years. Such a gift can be tailored to suit your current and future circumstances, meaning you can fulfill your pledge on a customized schedule.

Pam and Mike Shampain

Our lives have been abundantly blessed by the church’s love of Christ.

First Presbyterian Church’s driving force is its servant’s heart. We are now three generations of family baptized at FPC. Our lives have been abundantly blessed by the church’s love of Christ which has been continually shared with us by this community of believers. It was an easy decision to follow in the footsteps of those who have gone before us and commit God’s gifts back to First Presbyterian Church.

—Pam and Mike Shampain

Ready to Leave Your Legacy?

This overview of The James I. Vance Society is merely an introduction to the many possibilities to support the church’s endowment. We invite you to take the next step of contacting us for an initial conversation.

Questions about Planned Giving? Contact us.

John Eason

Endowment Committee Chair

Mary Russ

Contributions and Donor Relations

Mary Russ provides essential recordkeeping and administrative support for the Finance and Resource Development teams to ensure member contributions are accurate and consistent with donor intent. She plays a vital role in managing the annual stewardship and planned giving programs.

Since 1814

For Christ, His kingdom, and the common good.

Worship with us Sunday at 8:30 or 11:00 a.m.

Founded in 1814, First Presbyterian was born by grace. We are an outpost of the kingdom, called to glorify the Triune God, to make known the crucified and risen Christ, and to advance the gospel of God’s free and redeeming grace. Whether you are a long-time member or are new to First Presbyterian, we would love to help you find ways to get more connected.

First Presbyterian Church Nashville

4815 Franklin Pike, Nashville, Tennessee 37220 Map

615-383-1815 | communicationsfpcnashvilleorg