Frequently Asked Questions

Background:

• The FBCA Heart of Arlington Foundation is a new ministry of FBCA which provides a way for our members to participate in the future work and impact of our church.
• The Foundation will receive financial gifts and invest them for long-term income and growth to provide financial support to FBCA and its ministries. This will provide future generations at FBCA flexibility to utilize more of the church’s resources to maximize ministry impact, community investment, and focus on the vital work of preserving and passing down the biblical doctrine and foundational beliefs that define who we are as a church.
• The Foundation will provide a suitable vehicle for the church to receive larger gifts that may include more complex assets, including legacy gifts from the estates of givers. The Foundation is intended for members’ giving beyond their tithes on income, so giving from assets is generally what the Foundation will receive.

Structure and Governance:

• The Foundation is a separate not-for-profit entity controlled by FBCA. The Foundation is established for the sole purpose of supporting the ministry of FBCA.
• The FBCA Finance Committee oversees the Foundation and will periodically report to the church about the Foundation’s finances.
• The Foundation’s board of directors is a group of church members with significant financial management and planning experience elected by the Finance Committee (currently Bill Wheat (Chair), Carey Hendrickson and Taylor Steele). Dr. Wiles and Phyllis Lisby are officers of the Foundation. Darren Moore has assisted the church with the legal work to set up the Foundation and generosity expert Tim Deatrick (from MortarStone), and HighGround Advisors (our investment advisors) have also provided valuable assistance.
• The initial fund within the Foundation is the Campus Care Fund, which exists to provide consistent, annual financial support to offset the church’s budgeted expenses for facilities and operational costs (decreasing our spending on these areas from budget receipts). Other funds may be established in the future.

Operation of the Foundation:

• The board oversees the acceptance of gifts by the Foundation, investment of gifts received and the distribution of funds from the Foundation to FBCA.
• The Foundation operates under policies approved by the FBCA Finance Committee.
• The Foundation will operate similar to an endowment at a university by investing gifts received for long-term growth and utilizing the Foundation’s earnings and value appreciation to provide financial support to FBCA and its ministries.

Opportunities to Participate:

• Anyone may give to the Foundation at any time, or givers may also make plans to provide estate gifts to the Foundation following their death.
• We will introduce the Foundation to the church in the September 7 worship services, with information tables in the welcome center on September 7 and 14.
• We will offer educational workshops on September 21 and 24 with more information to help members consider how they may want to participate, including giving from sources beyond just current income and gifts that offer potential tax advantages.
• FBCA has a great history of ministry that we desire to continue and grow for generations to come, and the Foundation is an exciting way to participate in FBCA’s future!