The largest generational wealth transfer in Australia’s history has begun with Baby Boomers set to release $3.5 trillion of wealth over the next 20 years. It is predicted much of this prosperity will be transferred to children and family members, however a small, yet still significant, one percent is forecast to be gifted to not-for-profits, including churches.
Faith-based fundraising expert Brenda Moore says this event provides an incredible opportunity for churches to resource faith-based initiatives and projects in their communities.
“The primary reason a church — or any organisation — will not receive legacy gifts and partake in this incredible transfer of wealth is because they are not asking”
“Stewarding the resources that God has placed in our trust empowers us to make the best use of what God has given us and not miss crucial opportunities.
“Many donors find a deep sense of joy in the opportunity to leave a legacy through a financial gift especially when they know it’s advancing the faith they cherish,” Moore said.
Reverend Paul Clark’s Redcliff Uniting Church congregation in Queensland has been on the receiving end of such a generous gift from a donor in the form of a bequest. The congregation used the bequest to support the development of a $5 million purpose-built, integrated community service centre on the grounds of the church.
The Hub is home to a range of essential local health and community support services, including its anchor tenant UnitingCare Queensland, which delivers counselling and family support services to more than 100 foster families in the region.
“The Hub was a wonderful gift for Redcliffe, right in the heart of the community,” Rev. Clark said.
“The bequest money we received was a really important factor in enabling us to do this work, we were able to turn that capital into a building that empowers ministry and also brings an income to the church longer term,”
“The gift allowed us to become empowered, and since then we’ve had another ten bequests, from people within and outside of the congregation, and I think that was because we had such a good story to tell,”
“We like to imagine over 10 or 20 years how many thousands of people we’re going to impact and change, that’s the legacy we’ve built. We have now moved from building a place, to building people. We are investing in people’s lives and seeing the community come together.”
Are you interested in leaving a gift?
By leaving a gift in your will to the Uniting Church you will touch generations to come, enabling the missional work of the church in communities all over NSW and the ACT. All gifts – no matter how large or small – are greatly valued and help us significantly in our future planning. The stewardship of these gifts is something the Synod takes very seriously and we work hard to maximise the missional impact of every dollar given.
More information, including will wording, can be found here. We strongly recommend you seek the qualified advice of an independent solicitor or legal advisor before making or revising your will.
Jo Maloney is the Media and Public Affairs Consultant at the Uniting Church Synod of NSW & ACT
