Endowment at Atonement
The Church of the Atonement has for more than 125 years, since its establishment in 1886, served the community of Chicago’s Edgewater neighborhood. From its inception, the Church of the Atonement has thrived through the generosity of its parishioners in their annual pledges and from many who endowed the Church through living bequests and testamentary gifts.
A vibrant parish life at the Church of the Atonement includes daily worship, education, parish outreach to our community and to those in need -- all of which foster an open and welcoming congregation. Enduring support through the planned gifts and testamentary bequests of members and friends allow the Church of the Atonement to sustain its mission, in our landmark buildings.
There are diversities of gifts, but the same Spirit.- Corinthians 12:4
Our Vestry and our Endowment Guild assume the primary role in overseeing and investing the proceeds of all gifts to the Church of the Atonement.
Recognizing the need to further its mission and ensure its future the Church of the Atonement Endowment Guild was established in 2010. The Guild is comprised of clergy and lay members who act as stewards of your legacy, overseeing the present growth of the fund and ensuring the sustainability of the church for future generations. All assets are held in the name of The Endowment Fund of The Episcopal Church of the Atonement. All funds are currently held and managed by Morgan Stanley asset managers. These documents guide the work of the Endowment Guild:
The precious weekly pledges gratefully received provide for the day-to-day ministries and financial responsibilities of the parish, including our support of the diocese. The Atonement Endowment Fund is entrusted with the sacred task of sustaining and nourishing our beloved church in the years to come, so that the light of Atonement will continue to shine and grow in our neighborhood as a beacon of God’s love through Jesus Christ -- for the next 125 years and beyond. Pledges, membership and attendance wax and wane over the years. The Endowment Fund forms an essential pool of well managed resources upon which our church and parish may depend on in lean times, and serves as a well of blessed surplus from which new outreach and community engagement springs forth in times of abundance.
Planning your estate is a spiritual act...
You can take steps to assure the future of the Church of the Atonement. To learn how you can use your God-given resources to sustain our parish, and for more information regarding the gifting opportunities shown below and their benefits, contact the Endowment Guild.
The Very Rev. John David van Dooren, Rector
The Episcopal Church of the Atonement
Some of the possible ways to contribute to our Endowment Fund are:
Bequest- Include the Endowment Fund of the Episcopal Church of the Atonement in your will or trust for a specific dollar amount, a percentage of your estate, or another type of provision to make a thoughtful gift to the Church.
Cash: All gifts by check shall be accepted by the Church of the Atonement regardless of amount. Checks should be made payable to the Endowment Fund of the Episcopal Church of the Atonement.
Publicly Traded Securities: Readily marketable securities, such as those traded on a stock exchange, can be accepted by the Endowment Fund of the Episcopal Church of the Atonement.
Closely Held Securities: Non-publicly traded securities may be accepted after consultation with the Endowment Guild.
Tangible Personal Property: Any gift of tangible personal property shall be referred to the Endowment Guild prior to acceptance. A gift of jewelry, collections, equipment and software shall be assessed for its value to the Church of the Atonement which may be realized by either being sold or by being used in connection with the church.
Life Insurance: Name the Endowment Fund of the Episcopal Church of the Atonement as beneficiary of all or a percentage of a fully paid life insurance policy you may no longer need and you may receive a charitable estate tax deduction for the portion you designate for charity.
Real Estate: Gifts of homes or real property offer benefits, too, depending on the donor's situation. Real property gifts may include gifts of a primary residence or a vacation home. In some cases the donor may choose to remain in the home for his or her life after the home is deeded to the Church of the Atonement and still be eligible to receive tax savings. Real estate gifts are subject to review by the Church of the Atonement.
Charitable Gift Annuity: To establish a charitable gift annuity, a donor makes a gift of cash or appreciated securities to the Endowment Fund of the Episcopal Church of the Atonement. In exchange, the donor is eligible to receive a charitable income tax deduction and receives annual (or quarterly, or semiannual) payments for life. Payment amounts may be made to the donor or to another person and are based on the age of the person receiving the payments.
Charitable Remainder Trust: A charitable remainder trust is established when cash or securities or another asset are transferred to a trust. The donor or another person receives payments from the trust for life or for a term of years (not exceeding 20). At the end of the lifetime or term of years, the trust terminates and the assets pass to
Charitable Lead Trust: A charitable lead trust is established when cash or securities or another asset are transferred to a trust. The donor arranges for one or more charities to receive payments from the trust. At the end of the trust term, the assets pass to the donor or family members.
Retirement Planned Assets: Name the Endowment Fund of the Episcopal Church of the Atonement as a percentage beneficiary of your retirement plan assets and your estate will receive the appropriate charitable estate tax deduction.
For further information on the Episcopal Church of the Atonement Gift Policies, click here.
NOTE: Please consult your attorney or other advisor(s) before making a bequest or planned gift