2011 Annual Report
Grace Lutheran Church Foundation
January 2012
The Grace Lutheran Church Foundation was established 17 years ago with a gift of $270,000 from Alice and Carl Ronnenkamp. Since then many additional gifts have been added to the foundation, increasing the worth of the Foundation to more than half a million dollars. The Foundation Board members have taken seriously the responsibility of managing and distributing the Foundation's funds. We try to be good stewards of these funds, balancing, maintaining the endowment and distributing funds for worthy projects. In a year when the stock market bounces our value up and down regularly, this can be a somewhat frustrating proposition.
On December 1, 2011, the assets of the Foundation were valued at $541,926. The endowed principal is $474,344. This means that we had more than $50,000 available for projects on that day. However with the volatile stock market, the Board is trying to look at things long term with consideration for forecasts, rather than a one day snap shot.
Our assets are up since last year, by about $30,000. This increase is after we have funded almost $20,000 in projects. For additional information about the Foundation please visit our website www.grace97330.org/Foundation/home.html. These are the projects approved in 2011.
Sincerely,
Carolyn Warloe
Board President,
Grace Lutheran Church Foundation |
2011 Projects Approved
| Baptism donations "Future4Kidz" |
$500.00 |
| Kenya Mission, matching funds |
$6,500.00 |
| Replacement sink, faucets, countertops |
$4,541.97 |
| AED replacement (Nurse Fund) |
$1,225.00 |
| Preschool storage cabinet |
$1,183.00 |
| Library education |
$125.00 |
| House of Zion Ministries |
$500.00 |
| High School Ministry: ELCA Youth "Extravaganza" |
$2,145.00 |
| Communication Committee shirts, matching funds |
$510.00 |
| Memorial Funds |
| Rectangular tables, 7 |
$350.00 |
| Wheelchair accessible bathroom (Rudolph) |
$2,145.00 |
| Sound system replacements (Skwark) |
$825.00 |
| Signage in building |
$377 |
| Replace wireless microphone (part Skwark) |
$324.00 |
| Total Projects in 2011 |
$19,955.97 |
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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.
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