The South Carolina United Methodist Foundation, Inc., is a non-profit public benefit corporation chartered by the State of South Carolina.
The Foundation is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. Gifts to the Foundation are tax-deductible to the extent allowed by law. The financial statements of the Foundation are audited annually by independent certified public accountants.
Organized in 1977, the South Carolina United Methodist Foundation exists to cultivate and administer current and deferred gifts for endowment to benefit United Methodist institutions, agencies, local churches and other charitable purposes. The business, property and affairs of the Foundation are managed by a Board of Directors.
The Foundation is self-supporting. Its annual operating costs are funded by income from its General Endowment and Administrative Fund and from administrative fees charged other funds owned or administered by the Foundation.
Funds owned or administered by the Foundation are invested in diversified portfolios, which may include money market funds, government-backed debt securities, high quality corporate bonds, stock and bond mutual funds, common and preferred stocks, and bank common trust funds. Copies of the Foundation’s most recent Annual Report and copies of the Foundation’s most recent Audit Report are available upon request from the Foundation office.