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
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.
Non-Endowed Funds (principal and earnings available)
Brian Smith Medical – the origin of this fund is a small amount of
money that remained after assisting with member of the congration's medical bills. It is now
for use when a catastrophic and overwhelming health problem or medical need seriously impacts
Musical Instrument – the origin of this fund is the small amount of
money that remained after purchasing the grand piano in 2001. The continuing purpose of this
fund is to maintain the piano and purchase other instruments, such as the drum set.
Technology – to use towards purchasing needed computer and audio/video
items for church use.
Schultz Family Youth Fund – to support group youth activities through
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 a members or friend 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.
Return to GLCF Home