Christian Philanthropy

When Warren Buffet indicated that his estate plan was to place over $30 billion into long term foundation and endowments, it sent a message to many people about what to do with the blessings of this current generation. The history of many of the larger endowment funds has been almost tragic in that the people who end up making decisions about how to distribute these large funds have often changed the original intent of the donor and indeed the recipient is often very far from a Christ centered organization.

How indeed can anyone be assured that their wishes will be carried out after death and also be assured that the wealth left to family members will not corrupt their lives and lead them into reliance on the wealth instead of on Christ? There are some basics that can help in this process but each of us must come to grips with Biblical truth…

GOD OWNS IT ALL!! Do you believe this? If you do then you will be way ahead of the game for your own planning and you can move to the head of the line in helping your clients and family members who are believers since you will then move toward trying to please the Lord in both your choice of heirs and also the volume of wealth that you should trust with each of them.

I recently had a conversation with Mark Minnella about the Biblical basis for endowment and you will find a treatise attached today from my good friend Rob Cathcart of IHS Foundation who has done considerable research in this regard. The local branch of CFPN and chapter of NACFC have committed to helping encourage clients to pledge endowment assets to Kingdom work over the next few years. Their goal is to see at least $50 million to the Lord’s work and although some might think this too high or too low, it is just a starting point to encourage each advisor to get serious about the disposition of their wealth. Obviously, just one “Christian” version of Warren Buffet would make us revise that goal quickly. Wouldn’t that be fun?

Sent August 14, 2006

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