What is a trust?
An agreement to manage assets during life or after death.
How many funds does the Tennessee Baptist Foundation have under management?
Approximately 1200.
How often are written reports furnished?
Reports may be generated monthly, quarterly, semi-annually or annually.
Do you manage money for individuals?
Yes. An individual must establish a revocable trust in which at some point a Baptist cause of their choosing must benefit from a portion of the trust.
How often are income distributions made from revocable trusts?
Income checks are processed on the 10th of each month or as directed by the document.
May withdrawals be made from revocable trusts? If so, how long does it take to process them?
Yes. Withdrawals are possible. The accounting department requests a 30-day notice if possible in order to avoid early withdrawal penalties on investments.
Who provides the financial support to operate the Tennessee Baptist Foundation?
Approximately sixty (60%) percent of the operating budget is funded by an allocation from the Cooperative Program of The Tennessee Baptist Convention. The remainder of the budget is funded by income earned from funds left by Tennessee Baptists to support the Foundation's ministry.
What rate of return can I expect to receive on my investments?
The rate will vary. The Foundation investment philosophy is to invest to earn a reasonable rate of return at an acceptable level of risk. All investments are Baptist sensitive. No investment will be knowingly made in, nor will loans be made to , the liquor industry, tobacco industry, companies dealing in pornographic materials, companies which practice any form of racial discrimination, companies which offer or promote any form of gambling or any company whose products, services or activities are publicly recognizable as being incompatible with the moral and ethical posture of the Foundation.
Is there a charge for the services of the Tennessee Baptist Foundation?
The Foundation does not charge for its Christian Estate Planning Seminar nor for personal consultations with Tennessee Baptists who desire to include a Baptist cause within their Last Wills and Testaments. The Foundation does charge an annual cost-recovery fee of 0.25% (.0025) for its fund management services.
What tax reporting is provided by the Foundation?
All required tax reporting is done in a timely manner.
How does the Foundation provide for the safekeeping of legal documents for wills and trusts?
All documents are kept in a fireproof vault.
