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What is it? | A nonprofit foundation established on January 22, 1995 by Grace Lutheran Church, Corvallis, Oregon. Funds are professionally managed in a corporate trust account. |
| What is its purpose? |
To provide a means for members and friends of Grace Lutheran Church to extend the ministry of the congregation, to enhance the quality of that ministry, and to establish memorials as living testaments to those to be remembered. |
| How is the Foundation structured? | It has a seven-member Board of Directors approved by the Council; the terms of the Board members are three years and staggered; each year the Foundation sends the Council recommendations for the open positions; the Council also names two ex officio Board members to one-year terms; the Board selects its own officers. |
| Who provides professional management? | Active management and investment of funds must be placed in the hands of one or more trust companies authorized to engage in the business of acting as a fiduciary in the State of Oregon. The trust manager can be changed by the Board with the approval of the Church Council. |
| Does the Foundation provide tax benefits? | Yes! Most gifts are tax-deductible. Strategic gifts may enhance the value of your estate. Consult your accountant, attorney, or any Foundation Board member. |
| How does the Foundation grow? | - through gifts of cash, and Foundation-accepted gifts of real estate and personal property
- through bequests or as a beneficiary
- through transfers of funds from Grace Lutheran Church
- through asset appreciation and interest earned |
| May gifts be designated? | Yes! You may designate your gift to any existing fund. If you wish to create a new fund, please consult with any member of the Board. |
| Are gifts size- restricted? | No! Gifts of any size are encouraged. |
| Who decides how the money is spent? | The Foundation Board decides, with Church Council approval, consistent with donors'conditions and restrictions. For example, some funds prohibit spending the original amounts invested and allow only the income or appreciation generated by the fund to be spent on approved projects. |
| For additional information | Call the church office (541-757-1600) or write:
Grace Lutheran Church Foundation
435 NW 21st Street
Corvallis, OR 97330 |
| How to Use the Foundation
You are encouraged to consider the Grace Lutheran Church Foundation as a personal means of extending the ministry of the congregation. Consult your attorney to ensure that your wishes are accurately stated and in proper legal form. The following examples may suggest possibilities for your giving plans: |
| Sample Will Provisions
EXAMPLE: I give two percent of the residue of my estate unto the Grace Lutheran Church Foundation. (The amount of this gift won't be determined until the death of the testator. The donor specifies no conditions.) |
| Samples of Lifetime Gifts
EXAMPLE: I give and transfer unto the Grace Lutheran Church Foundation my 100 shares of the common stock of United States Steel represented by certificate #AHZ24931. (This is an outright gift with no conditions attached.)
EXAMPLE: I give and transfer unto the Grace Lutheran Church Foundation 50% of the income accrued and paid for years 1998 through 2000 from my Mutual Fund Account 89204 with Security Fidelity Investments Co., to be used for parking lot improvements. (This gift is strictly temporary). |
| Benefits
The Grace Lutheran Church Foundation provides an opportunity for members and friends of the congregation to establish, enrich, sustain, and complete programs and projects in pursuit of the Lord's work in our midst, our community, and beyond.
Among the many possibilities for Foundation support are:
Programs:
Christian Education
Day Care
Evangelism
Family Ministry
Health Ministry
Missions
Youth Ministry
Social Ministry
Stewardship
Worship & Music |
Property:
Art
Building & Grounds Care
Building Furnishings
Choir Robes
Equipment
Hymnals & Music
Library Additions
Musical Instruments
New Construction
Property Acquisition
Remodeling |
Projects:
Art Exhibits
Concerts
Conferences
Endowed Staff Positions
Seminars
Visiting Theologians
Workshops
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"We give thee but thine own,
Whate'er the gift may be;
All that we have is thine alone,
A trust, O Lord, from thee."
Hymn 410, LBW |
The Grace Lutheran Church Foundation offers you a vehicle for supporting the work of the church during your lifetime and beyond.
Stewardship of your accumulated blessings may include the funding or endowing of a church program or project that is especially important to you. Opportunity is also available to memorialize someone special to you, to the Grace congregation, or to Christian endeavor in the world. Aspects of our Christian heritage may also be recognized.
The Grace Foundation can help you accomplish such goals in a variety of creative ways.
Good stewardship suggests that each person should plan for the disposition of life's accumulations at death. It is wise to prepare that plan in consultation with an attorney to make certain that it is legal and clearly states your wishes.
Grace Lutheran Church Foundation
"an opportunity for current and deferred giving"
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