Funds Managed by the
Grace Lutheran Church Foundation

 
All funds of unspecified intent donated to the Foundation shall be placed in a fund determined by the Foundation Board of Directors.

Endowed Funds (only earnings available)
When a donation is added to an endowed fund it becomes part of the endowed (irreducible) principal of the fund, unless other directions are provided.
    Ronnenkamp a general fund.
    Storvick Parish Nurse to support the parish nurse program.
    Storvick Pipe Organ to support the maintenance, upkeep, rebuilding, expansion, and otherwise all other aspects associated with the playing of the GELC organ.
    Storvick Grace Center to support them now they have moved to a new location.
    Kuehn for church choir music.
    Library a small fund dedicated to assisting the library.
    Roger Lindquist a priority of the fund is to help people in need.

Non-Endowed Funds (principal and earnings available)
    Brian Smith Medical for use when a catastrophic and overwhelming health problem or medical need seriously impacts household finances.
    Musical Instrument to maintain the piano and purchase instruments.
    Technology to use towards purchasing needed computer and audio/video items for church use.
    Schultz Family Youth Fund to support group youth activities through matching funds.
    William and Lorraine Benson Music Fund to support traditional music, the pipe organ, and the grand piano.

All of these funds earn income and/or interest.

Two additional non-endowed funds do not earn income or interest:
    Memorial when a donation is made to the Foundation as a in memory or in honor of members or friends of Grace Evangelical Lutheran Church, is added to this fund, unless a specific purpose is identified.
    General Unrestricted Fund made up of donations that are not specifically directed to a named fund or a specific use. Used to support projects and to cover operating expenses.

Updated February 2019

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