WCPC Foundation is a tax exempt corporation formed in 1995 to support the programs of Walnut Creek Presbyterian Church. Its purpose is to provide a vehicle for WCPC’s member and friends to remember the church in their wills or memorials and be assured that such funds will be administered for the benefit of Walnut Creek Presbyterian Church programs, but separate from the annual operating budget.

The emphasis will be on building and equipment needs of our local church, and equipping seminary students in preparation of gospel ministries. However, it will also be possible for the Foundation to help with emergencies and other program needs, both here and abroad.

No. It is designed to be of assistance in helping people think through and plan the distribution of assets remaining when this life is complete. We will all have estates, some large and some small, and WCPC foundation can be used to transfer a percentage of what remains at death to further God’s work in the local church.

Of course, large estates benefit more from the tax aspects of bequests to tax exempt organizations, but that is not the main reason the Foundation was formed. It is the commitment rather than the amount of the gift which is important.

Yes. The Session of Walnut Creek Presbyterian Church each year approves a suggested list of projects for memorial giving in memory of the death of a friend or relative. It is also appropriate to make similar gifts in honor of living persons who deserve to be appreciated for something they have done for others.

It is always possible to designate how you would like to have WCPC Foundation use any funds given to it, and the Board has established procedures to assure that your wishes are honored.

Yes. WCPC is a tax exempt organization under section 501(c)(3) of the Internal Revenue Code, and amounts left to it will not be included in your taxable estate.

The Foundation will be governed by a Board of Directors made up entirely of Walnut Creek Presbyterian Church members. The Board of Directors will receive requests from Session, the Deacons, and Church Departments. The Board will make all decisions on which requests will receive funding.

Of course, if the donor indicates a desire on how gifts should be used, the Board will see to it that such intentions are honored.

The Board will also make decisions on how much of its money should be spent currently and how much should be retained and invested for future needs. Any such investments will be made on a conservative basis with organizations which follow practices that are not in conflict with biblical principles.

No. The Foundation has been established as an alternative for people who would rather leave their money to a separate entity which will emphasize capital needs and other areas of support not normally included in the church’s annual operating budget.

If you have named the church in your will, the Session will determine how the gift will be used. The Session will also diligently honor how such funds are used if the donor has indicated a specific desire.

Yes. Relationships have been established with professional consultants who are available to help with these more complex estate matters.

Yes. Many people have discovered the tax advantages of contributing appreciated securities or real estate to tax exempt organizations and WCPC Foundation is prepared to handle such gifts. Also, in estate planning it is sometimes beneficial to name charities as direct beneficiaries of IRA or Keogh plans. The Foundation is prepared to receive such gifts.

Yes. Many people have discovered the tax advantages of contributing appreciated securities or real estate to tax exempt organizations and WCPC Foundation is prepared to handle such gifts. Also, in estate planning it is sometimes beneficial to name charities as direct beneficiaries of IRA or Keogh plans. The Foundation is prepared to receive such gifts.