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.
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
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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