The Founders Endowment

The first half of Baptist Bible’s life was spent in Johnson City, NY. Many people remember those days or enjoy the stories of those that do.

In this, our 75th year, we are asking those individuals to create a special endowment to leave a legacy for future generations.

It’s called the Founders Endowment.

How it works

It is a scholarship endowment. Money will be invested and scholarships awarded based on the earnings of the endowment. Scholarships will be granted across the institution to students displaying significant potential for ministry and financial need. The Founders Endowment will benefit students for generations.

Our goal

We want to exceed $1 million in current gifts and future commitments by December 31, 2008. We are asking individuals who remember when the school was in Johnson City or otherwise have such connections to contribute to this endowment.

Where we stand

We now have $1.5 million in scholarship endowments. We want to grow this to help future students.

How to contribute

There are several ways you can give in addition to cash gifts:

• Create a planned gift, benefiting you and students—BBC Foundation offers several charitable trusts and annuities that can help you increase income, decrease taxes, and ultimately fund part of this endowment.
• Give appreciated assets and avoid capital gains tax—If you have appreciated investments, real estate, or other assets, you can avoid capital gains tax by contributing those instead of cash.
• Give a current gift through your IRA and avoid penalties—Because of the Pension Protection Act of 2006, you can make a donation from your IRA and avoid normal taxes and penalties if you are over 59 ½ and give before December 31, 2007.
• Give an estate gift from your IRA or 401K and reduce taxes—Your retirement plan is a great asset to consider as a charitable gift. Estate taxes and income taxes can reduce the value of your IRA or 401K by 50%. Charities do not pay these taxes, leading to a great tax planning strategy.
• Give an estate gift and create a legacy—Leave a bequest to BBC&S through your will. You can also leave a portion of your life insurance policy or annuity to BBC&S by changing your beneficiary designation

Other Options

While some people will give a gift now, others will make a commitment through their estate planning. You can participate by informing us of your desire to give through your estate. Contact Mark Robbins at mrobbins@bbc.edu.