Grace Lutheran Church Foundation
What is it?
Grace Lutheran Church Foundation is a nonprofit foundation established on January 22, 1995, by Grace Lutheran Church, Corvallis, Oregon. Funds are professionally managed in an investment management 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 offici Board members
to one-year terms; the Board selects its own officers.
Who provides professional management of funds?
Active management and investment of funds must be placed in the hands of one or more
investment managers authorized to engage in the business of acting as a fiduciary in the State of
Oregon. Currently the Foundation’s funds are managed by ELCA Investment Management Services.
Does the Foundation provide tax benefits?
Yes! Most gifts are tax-deductible. Strategic gifts may enhance the value of your estate. Consult your accountant or attorney. Foundation Board members are also available to discuss options.
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 asset appreciation and interest earned
What is an endowed fund?
An endowed fund is one where the original gift(s) or principal is preserved in perpetuity. Only earnings are available to be used.
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.
What are some ways to donate to the Foundation?
There are many ways to contribute to the Foundation. Some examples are: through cash donations of any size; through the gift of appreciated stock; by designating the Foundation as a beneficiary of a retirement or other account or a life insurance policy; through annuities where you receive income during your lifetime; through the donation of real estate, etc.
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