The Highland Park Presbyterian Church Foundation

Purpose

The mission of the HPPC Foundation is to ensure the financial security of the Highland Park Presbyterian Church - for today and for future generations - so that the church can:

  • Provide a welcoming, reverent, safe and efficient physical structure in which to worship and further our ministry

  • Provide a Christian witness and presence in the community

  • Attract and sustain a vital and diverse congregation

The Foundation fulfills its mission by helping HPPC meet the capital and other extraordinary and non-recurring expenses which are not otherwise provided for in the church’s annual operating budget.

Preserving our beautiful historic church building (built in 1912) and maintaining its systems is the largest item requiring Foundation support.

History of the Foundation

The Foundation was started in 1978.  A significant portion of the Foundation’s assets over the years have come from HPPC members who made large gifts through their wills and estate plans. However, modest gifts have also played a role in the Foundation’s ability to help sustain HPPC as a thriving, diverse, caring family of faith.  We remain grateful for the foresight of the members who established the Foundation and to the individuals who have generously contributed to support the Foundation and HPPC.

What has the Foundation done?

The Foundation has helped fund several major repairs and refurbishments to the church and manse over the years including (but not limited to) the following projects:

  • Asphalt repairs – 2006, 2021

  • Refurbishing the parlor kitchen and installing fire doors on second floor – 2007

  • Tuckpointing & slate repairs – 2008, 2010, 2013

  • Restroom renovations – 2009

  • Apartment renovation – 2010

  • Roof repairs – 2011, 2014

  • Basement stair repairs – 2012

  • Window repairs – 2013

  • One new boiler in 2014 and HVAC repairs 2020

  • Manse remodel – 2021

  • Bell tower repairs - 2022

  • Two new boilers - 2022-23

What resources does the Foundation have?

Through donations and investment growth, the Foundation currently has ~$800,000 to help with current and future capital needs of HPPC.  The Foundation has committed $300,000 of its corpus over the next three years to help fund the building preservation items discussed below.

Current /Future needs

A recent comprehensive engineering study has identified that our historic church building needs $750,000 in repairs/restoration over the next three years and $2.1 million over the next ten years to address:

  • Water infiltration of the building envelope (roof repairs and tuckpointing)

  • Replacement of bell tower roof and structural assessment

  • Window repairs

  • Mechanical systems replacement

  • Asbestos abatement

  • Life-safety & code compliance issues

What future needs can the Foundation support?

Your gift to the Foundation can ensure the Foundation has the resources to assist with the continued renewal, improvement and refurbishment of our Church property and avoid the situation where deferred maintenance leads to more costly repairs. Once the immediate issues are addressed, regular investments in renewal, improvement and refurbishment projects are expected to require ~$100,000 annually.  Your gift to the Foundation will help ensure we can support this level of investment in HPPC on a perpetual basis.

How can I contribute?

There are many ways to contribute to the Foundation.  In addition to knowing your contribution will help ensure the vitality of HPPC and its ministry, most of these donation strategies can also provide significant tax benefits* to you:

  • Gifts of cash – one time or monthly/quarterly/annual pledge.

  • Gifts of appreciated securities (e.g., stocks, bonds, mutual funds) – you get a tax deduction for the full value of the securities and can avoid paying long-term capital gains tax on the appreciation.

  • Qualified Charitable Contributions from your IRA – People over age 70½ can make a Qualifying Charitable Contribution (QCD) to the Foundation through the custodian of their IRA account.  The contribution counts towards any Required Minimum Distribution (RMD) but is not subject to income tax like normal distributions are.

  • Gifts of retirement accounts – traditional retirement accounts can be heavily taxed if left to non-charitable beneficiaries. By naming the Foundation as a beneficiary of your retirement account, you can reduce both income and estate taxes for your heirs.

  • Gifts of real estate - reduce capital gains and estate taxes by deeding your home to the HPPC Foundation and retain the right to live there for you or your family.

  • Bequests through your will or other estate plan documents – this is the easiest way to make a planned gift. Designate a specific amount, a percentage of your estate, or a specific asset.

  • Gifts through donor-advised funds or charitable trusts/foundations - the Foundation can receive gifts either directly from these funds/organizations while the donor/trustee is living or be named as a beneficiary of the fund/trust when the donor/trustee passes away.

  • Gifts of life insurance – make the Foundation a beneficiary of a policy no longer needed for your family or purchase a new policy which names HPPC Foundation as the owner and beneficiary.

  • Gifts through annuities – naming the HPPC Foundation as beneficiary.

  • Other deferred giving strategies

*The Foundation can provide more information about these options to you and/or discuss the options with you and your estate planning or tax advisor, but the Foundation cannot offer specific tax advice. For more information call, email or write to the Foundation at:

Highland Park Presbyterian Church Foundation

330 Laurel Avenue, Highland Park, IL 60035

(847) 432-1695

highlandparkchurchil@gmail.com