Helping Students

By: Richard Carnes

Late summer is always an exciting time for our children and young adults beginning to report back to schools and colleges across the state. The freshness of a new school year is full of potential and new learning experiences. But, for some students, the hope of achieving their academic dreams may be deferred due to a lack of enough financial resources.

The Kentucky Baptist Foundation is honored to work with numerous donors whose passion is helping students receive the necessary financial support to achieve their educational goals. One example of this collaboration is the scholarship funds that donors have created to help off-set the costs of students’ education. For the upcoming academic year, the Kentucky Baptist Foundation had the privilege of awarding 57 scholarships to college and seminary students totaling $74,850 from the 17 scholarship endowments administered by the Foundation. The Foundation is also honored to assist several Kentucky Baptist churches by providing investment oversight and administration of the scholarship funds churches have established for their students.

You may share this same commitment to helping students achieve their educational goals and would like to explore how you can implement a legacy gift plan to fund a scholarship endowment like the ones referenced above. Or you may have a Christian school, college or Baptist seminary that you would like to support through a legacy gift.

The Kentucky Baptist Foundation staff is available to assist you by providing guidance in creating these scholarship funds and charitable endowments to support worthy Christian education causes across the state and the nation. To make intentional plans to care for your family and the ministries God is inspiring you to support, call upon the Kentucky Baptist Foundation as a helpful partner. If you have questions, please contact the Kentucky Baptist Foundation office at our toll-free number (866) 489-3533.

Richard Carnes is the president of the Kentucky Baptist Foundation, P O Box 436389, Louisville, KY 40253; toll-free (866)489-3533; KYBaptistFoundation.org.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

School Time!

By: Richard Carnes

The beginning of a school term is always an exciting time for our children and young adults as they return to school and college campuses across the commonwealth. I recently received pictures of my oldest granddaughter as she began her first day of preschool. There was a twinkle in her bright eyes and a tear in mine as I reflected on her blessed life so far. For my granddaughter, the beginning of her next educational adventure should be smooth. But, for many budding young scholars, the hope of achieving their academic dreams may be deferred due to a lack of sufficient financial resources.

The Kentucky Baptist Foundation is honored to work with numerous donors whose passion is helping students receive the necessary financial support to achieve their educational goals. One example of this collaboration is the scholarship funds that donors have created to help off-set the costs of students’ education. For the upcoming academic year, the Kentucky Baptist Foundation had the privilege of awarding 56 scholarships to college and seminary students totaling $78,150 from the 17 scholarship endowments administered by the Foundation.

You may share this same commitment to helping students achieve their educational goals and would like to explore how you can implement a legacy gift plan to fund a scholarship endowment like the ones referenced above. Or you may have a Christian school, college or Baptist seminary that you would like to support through a legacy gift.

The Kentucky Baptist Foundation staff is available to assist you by providing guidance in creating these scholarship funds and charitable endowments to support worthy Christian education causes across the state and the nation. To make intentional plans to care for your family and the ministries God is inspiring you to support, call upon the Kentucky Baptist Foundation as a helpful partner. If you have questions, please contact the Kentucky Baptist Foundation office at our toll-free number (866) 489-3533.

Richard Carnes is the president of the Kentucky Baptist Foundation, P O Box 436389, Louisville, KY 40253; toll-free (866)489-3533; KYBaptistFoundation.org.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Celebrating Students

By: Richard Carnes

Graduation ceremonies are occurring across the Commonwealth of Kentucky at this time. It is always an exciting time for students and their families as they celebrate the achievement of an educational milestone and look forward to the next phase of the student’s life. For many students, college or technical school awaits them, but some budding young scholars must defer the hope of achieving their academic dream due to a lack of sufficient financial resources.

The Kentucky Baptist Foundation has been honored to work with numerous donors whose passion is helping students secure the necessary financial support to achieve their educational goals. One example of this collaboration is the scholarship funds that donors have established at the Foundation to help off-set the costs of student’s education. The Kentucky Baptist Foundation’s scholarship committee met recently to review student applications and grant scholarship awards for the upcoming academic year. The scholarship committee was privileged to award 74 scholarships to college and seminary students totaling $93,385 from the 17 scholarship endowments administered by the Foundation.

You may share this same passion for education and would like to explore how you can implement a legacy gift plan to fund a scholarship endowment like the ones referenced above. Or you may have a Christian school, college or Baptist seminary that you would like to support through a legacy gift. Also, churches can create scholarship funds through the Foundation that will provide much needed financial assistance to their college bound students.

The Kentucky Baptist Foundation staff is available to assist you by providing guidance in creating these scholarship funds and charitable endowments to support worthy Christian education causes across the state and the nation. To learn more, you may contact the Foundation’s trust counsel, Laurie Valentine, or me at our toll-free number (866) 489-3533.

Richard Carnes is the president of the Kentucky Baptist Foundation, PO Box 436389, Louisville, KY 40253; toll-free (866) 489-3533; KYBaptistFoundation.org

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Back To School

By: Richard Carnes

Late summer is always an exciting time for our children and young adults beginning to report back to schools and colleges across the state. The freshness of a new backpack, the wonder of a full box of sharpened crayons, and spring in the step of new athletic shoes all make for the beginning of their next educational adventure. But, for many budding young scholars, the hope of achieving their academic dreams is deferred due to their lack of sufficient financial resources.

The Kentucky Baptist Foundation has been honored to work with numerous donors whose passion is helping students receive the necessary financial support to achieve their educational goals. One example of this collaboration is the scholarship funds that donors have created to help off-set the costs of students’ education. For the upcoming academic year, the Kentucky Baptist Foundation had the privilege of awarding 77 scholarships to college and seminary students totaling $79,930 from the 17 scholarship endowments administered by the Foundation.

You may have this same passion and would like to explore how you can implement a legacy gift plan to fund a scholarship endowment like the ones referenced above. Or you may have a Christian school, college or Baptist seminary that you would like to support through a legacy gift.

The Kentucky Baptist Foundation staff is available to assist you by providing guidance in creating these scholarship funds and charitable endowments to support worthy Christian education causes across the state and the nation. You may contact the Foundation’s trust counsel, Laurie Valentine, or me at our toll-free number (866) 489-3533.

Richard Carnes is the president of the Kentucky Baptist Foundation, P O Box 436389, Louisville, KY 40253; toll-free (866)489-3533; KYBaptistFoundation.org

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Access to Christian Higher Education

By: Barry G. Allen- President & CEO

The accessibility to a Kentucky Baptist Christian higher education is a concern of mine, and I trust, a concern of yours as well.

I believe Christian higher education is more essential today than ever before, and yet, it is becoming less accessible to many students due to the ever increasing cost. This reality is true also for public higher education. But it is the Christian higher education institution that is dependent upon private gifts from you and me to keep it accessible to the students whose family financial circumstances require financial assistance.

At the heart of their missions, our Kentucky Baptist Christian education institutions are teaching institutions with a focus on helping their students become lifelong learners who will make a positive difference in the world through service to Jesus Christ and to their fellowman. Campbellsville University President, Dr. Michael Carter, has stated it this way: “The very essence of Christian higher education, especially in the Baptist tradition, is in the degree that we allow the transformational teachings of the Christian faith to permeate the learning environment of the university…Our mission is about excellence in the classroom…also about the quest to bring our faith through our relationship with the Lord Jesus Christ, led by the Holy Spirit, to the world in which we live…This is why Christian higher education is so important and why it is really a contemporary form of ‘missions.’”

There are a variety of channels through which you can provide financial assistance to maintain accessibility for those students who need it. Gifts of any amount can be made to existing scholarship funds of the institution of your choosing or to the Kentucky Baptist Foundation. The KBF has existing scholarship funds that benefit all of the Kentucky Baptist Christian higher education institutions, or you can establish your own scholarship fund with guidelines specific to your preferences.

Call us toll free to assist you in maintaining accessibility for students to receive a Christian higher education at Campbellsville, Cumberlands and Georgetown. 

For more information, please call us at (502) 489-3533 or toll free in KY at 1-(866) 489-3533

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

The Browns: Scholarship Beneficiaries

Although Karen and Dudley Brown of Frankfort knew they were having triplets, they thought all were boys until Torie followed the birth of her brothers Dustin and J.W. at Lexington’s Central Baptist Hospital. Now the triplets have all graduated from Georgetown College. Torie graduated cum laude; majoring in psychology. Dustin and J.W. were business majors.

Having reared these triplets and two older sons, Mike and Todd, Karen and Dudley never dreamed the triplets would have been able to attend a private, Christian school. They always wanted them to receive a liberal arts education in a Christian setting, but did not think it would be financial feasible until Kojo Poku, Georgetown’s admission’s counselor, enlightened them about the financial aid opportunities from Georgetown and the Kentucky Baptist Foundation. The combination of scholarships and full-time jobs bridged the financial gap for the Browns. For Karen and Dudley, the Kentucky Baptist Foundation scholarships were an answer to prayer. They felt fortunate and blessed to have the triplets educated at Georgetown College, which molded them into well-rounded individuals prepared to go into the world and be successful in all aspects of life.

Georgetown College staffer Kay Blevins had this to say about the Brown triplets: “Kudos to their parents, who simultaneously raised three very caring ambitious people who identify themselves as triplets but are very unique in their own individuality.”

The Kentucky Baptist Foundation is pleased to have made an investment in the Brown triplets upon the recommendation of their pastor, Wallace Kent of Crestwood Baptist Church in Frankfort. We congratulate them on their many accomplishments, recognitions and awards at Georgetown College and wish them well in following God’s call in their lives.

Each year, the Kentucky Baptist Foundation awards approximately $200,000 in scholarships to Kentucky Baptist students who attend Georgetown College, Campbellsville University and the University of the Cumberlands. This is possible because of the generosity of people like the late Francis and Ruth Moore of Lexington, whose love for their Lord and appreciation of a Christian values-based education led them to establish, via a bequest in their Wills, the Francis and Ruth Moore Scholarship Fund.

Georgetown College President Bill Crouch said, “As the first Baptist college west of the Allegheny Mountains, we are extremely grateful for the important role played by Kentucky Baptists and the Kentucky Baptist Foundation in the life and ministry of Georgetown College. We take seriously our responsibility to provide a setting where Torie, J.W., and Dustin, and all of our students will be nurtured, strengthened and challenged as they seek God’s plan and purpose for their lives. The Kentucky Baptist Foundation serves as a living testimony of the importance of Christian stewardship and to the indescribable blessing of investing in tomorrow’s Christian leaders today…”

Call Laurie Valentine or Barry Allen toll-free for assistance in developing a stewardship plan and experiencing the joy of investing in tomorrow’s Christian leaders.

A Hybrid Giving Idea

By: Barry G. Allen- President & CEO

           You may desire to provide a perpetual stream of contributions for the benefit of your church, a favorite Baptist cause and/or other Christian ministries, but you are unable at this time to fund fully the perpetual endowment fund to make that happen.

            A flexible endowment fund, administered by the Kentucky Baptist Foundation, is an option worthy of your consideration.  It allows you to have a plan that establishes a permanent endowment fund over a defined, but flexible time period.  During this flexible funding period, you also make on-going contributions directly to the cause(s) you intend to benefit.

            A simple example would be to establish a flexible endowment to provide scholarship assistance for students to attend one of our Kentucky Baptist Christian education institutions.  To provide $1,000 of annual assistance the endowment fund would need to be $25,000 assuming a 4% annual distribution rate.  The distribution rate is not the same as the investment earnings rate.  The distribution rate takes into consideration the rate of inflation and the investment costs so the fund will have an inflation-adjusted growth to the principal over time.

Let’s assume you could establish the flexible endowment fund with a $10,000 gift, and you would agree to contribute the remaining $15,000 over the next five years.  Alongside your $15,000 pledge to fund fully the endowment, you also pledge to contribute directly to the institution during the funding period the difference in the $1,000 scholarship assistance and the distributable earnings from the invested principal in the endowment fund.  As you fund the principal of the endowment, the principal should grow in value to produce an increasing amount of distributable earnings, and therefore, your direct annual contribution to the institution should decrease.  Once the endowment has been funded fully with the $25,000, you would have no more responsibility to make contributions related to this flexible endowment.

Scholarship assistance is just one of many ideas that lend themselves to this hybrid giving idea.  Call Laurie Valentine or me toll-free for more information about how you can make a lasting difference with a flexible endowment fund.