As I reported in the December Grace Gatherings, the Foundation once again has endowed earnings along with other un-endowed gifts available to fund requests. The Foundation has had a minimum of available funds to support requests since the recession and stock market correction had devalued our investments. On Dec. 1st, the Foundation assets were valued at $514,616.63. The endowed principal of the Foundation was $474,345 which means we had $40,272 of available funds. The Board is expecting several requests for funds in the near future and is pleased to be able to consider them.

During 2010, the Foundation has funded some smaller projects with un-endowed gifts. Unlike our endowed funds where the principal is to be conserved and only the earnings spent, un-endowed funds are available in their entirety. These funds include the Brain Smith Medical Fund, Musical Instrument Fund, Memorial Fund, Benevolence Fund, and General Fund.

The Foundation also includes endowed funds for special purposes; the Kuehn Funds (music), Library Fund, Parish Nurse Fund, and Organ Fund. The largest of our endowed funds is the Ronnenkamp Fund which was donated to support the mission of Grace Lutheran Church. All of these Funds support the congregation to enhance worship, fellowship, and reach out to people outside the congregation. Gifts to the Foundation are used in accordance to any wishes expressed by the donor. Additional information about the Foundation is available at our web site (www.grace97330.org/Foundation/home.html) or contact a Board member.

Sincerely, Carolyn Warloe Board President, Grace Lutheran Church Foundation

Foundation Board: Tom Kiersky, Hal Dick, Neil Christensen, Kris Saathoff, Shelly Lundahl, Anne Orwick and Carolyn Warloe. Since our by-laws provide for only one pastor as an ex-officio member, Wendell Hendershott has been filling that position.

During 2010, the Foundation supported the following projects: