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GRACE LUTHERAN CHURCH
FOUNDATION NEWS
Caring for the Ministry of Grace: "Ecclesia Perpetua"
February 2003
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Board of Directors
Larry Burt
President
Karen Guzman
Treasurer
Michael Beachley
Secretary
Hal Dick
Director
John King
Director
Carolyn Warloe
Director
Jeffrey Beck
Director
Rev. Dan Hallgrimson
Ex-Officio
Hal Brauner
Ex-Officio
Joy Linn
Administrative Asst.
The Grace Lutheran
Church Foundation is
a professionally
managed corporate
nonprofit foundation
established by Grace
Lutheran Church,
Corvallis, Oregon.
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Your Donations At Work
in 2002, your donations... |
 Helped a man with the medical expenses for a life extending procedure.
Continued to support the lending library with the purchase of books.
Assisted Grace on the Move with the purchase of their van.
Purchased portable communion sets so communion may be given to those unable to come to church.
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Provided on-going support to the Footsteps in Faith process of adult faith development.
Memorial funds purchased tape players for homebound congregation members may listen to worship services in their homes.
Helped House of Zion Ministries provide support to those in need over the holidays.
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| The Board of Directors acknowledges the generosity of the following people for donations: |
| In August 2002 - In Memory of Dee Bentley |
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Trudy Jacob, Corvallis, OR | |
| In September 2002 |
Dale & Mary Jane Weber, Corvallis, OR
In Memory of Dee Bentley
Mary Jane Rostberg, Vancouver, WA
Hope Haga, Bloomington, MN
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In Memory of Debbie Brye
Mrs. Sig Olsen, Yankton, SD
For Grace Center in Memory of Irene Ness
Edna & Wayne Schultz, Corvallis, OR
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In Memory of Irene Ness |
Darlene & Norman Rosholt, Brooklyn Center, MN
Anonymous
Arnold and Edna Ness, Northfield, MN
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Gerhard and Charlene Hegland, Utica, MN
Stewart and Jean Avery, Corvallis, OR
Colleen Swenson, Eugene, OR
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In October 2002 |
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Ted and June Beck, Corvallis, OR |
Larry and Donna Blus, Corvallis, OR |
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In Service to the Ministry of Christ's Church |
Year-to-Date Financial Report - Dec. 2002
Year-to-Date Growth Before Expenditures |
| Personal Contributions |
$5,062.39 |
Earnings | $13,047.61 |
Rental Property Income (1) | $10,768.13 |
Variance: Trust Fund Mkt Value (2) | ($48,680.01) |
Total Growth | ($19,801.88)
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Assets Composition on 12/31/02 (3) |
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Ronnenkamp Fund | $440,042.39 |
| Designated Endowments | $60,269.71 |
| Designated Funds | $13,092.67 |
| Cash in Property Account (4) | $0 |
| Cash Accounts | $7,197.37 |
Trust Fund Sub-Total | $520,601.78 |
| Rental Property | $90,250.00 |
Assets Total | $610,851.78
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Foundation Expenditures |
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CPA Review | $550.00 |
| Annual Corporate Fees | $117.00 |
| Trust Fund Fees | $1,713.80 |
| Jeanne Smith & Associates | $257.00 |
| Administrative Assistant | $2,745.27 |
| Financial Workshop | $50.00 |
| Supplies | $86.28 |
| Projects Funded | $14,684.07 |
Expenditures Sub-Total | $20,203.42
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| Rental Property Management Fees | $1,046.82 |
| Maintenance & Cleaning | $3,781.37 |
| Landscape | $1,080.00 |
| Water/Sewer | $85.48 |
| City of Corv. Rental Property Fee | $8.00 |
| Property Taxes | $2,291.90 |
Rental Property Sub-Total | $8,293.57
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Total Expenditures | $28,496.99
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Projects Funded/Pending in 2002 |
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Footsteps in Faith | $159.25 |
| Lending Library Books | $180.29 |
| Grace on the Move Van Purchase | $12,500.00 |
| Brett Chytraus Fund (medical) | $1,000.00 |
| Portable Communion Sets | $417.30 |
| Zion Ministries Holiday Gifts | $500.00 |
| Tape Players | $79.52 |
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Total Projects | $14,836.36
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(1) Rental Income includes $300 non-refundable tenant fee.
(2) On 12/31/01 the market value was $91,105.63 below book value. On 12/31/02 the market value was $139,785.64 below book value.
(3) Amounts listed represent book values rather than market values. Note that
$474,694.92
of Trust Fund sub-total is restricted endowments that must be
maintained as principal. 11/19/02 - Board voted to reverse cost of living increases
to endowed principals effective on January 1 of 2001 (2.3%) and 2002 (2.7%).
(4) Cash in property account does not include $100 minimum required balance.
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The Board of Directors acknowledges the generosity of the following
people for donations:
| | In October 2002
In Memory of Irene Ness |
| Eldon and Judy Modrell, Corvallis, OR
Mildred Babb, Corvallis, OR
Harold and Gloria Werth, Corvallis, OR
Anita McEldowney, Corvallis, OR
Lillian Swanson, Corvallis, OR
Larry and Betty Whitener, Corvallis, OR
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| In Memory of Paul Weswig
| | Rod and Phyllis Mesecar, Corvallis, OR
The Family of Mildred Rosenstiel, Hillsboro, OR
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| In November 2002 |
| Marcella Ringbloom, Corvallis, OR |
| In Memory of Rod Mesecar |
| Philip and Evelyn Magnusson, Corvallis, OR
Lew and Dona Williams, Corvallis, OR
Harold and Gloria Werth, Corvallis, OR
Robert and Marcie Anderson, Corvallis, OR
Millie Babb, Corvallis, OR
Ann Stone, Corvallis, OR
Edna and Wayne Schultz, Corvallis, OR
Gerald and Phyllis Simonson, Albany OR
Cammie and Dave Bella, Corvallis, OR
William and Judith Winkler, Corvallis, OR
Karen and Juan Guzman, Corvallis, OR
Ted and Swannie Carlson, Corvallis, OR
Nabeel and Jean Mansour, Corvallis, OR
Marna Holcomb, Corvallis, OR
Ronald and Penny Reher, Corvallis, OR
Cy and Cynara Stadsvold, Corvallis, OR
Anita McEldowney, Corvallis, OR
Hal and Rozella Lindsley, Corvallis, OR
Patricia and Erik Meier, Corvallis, OR
Alberta and John Peterson, Corvallis, OR
Eldon and Carol Erickson, Corvallis, OR
Betty McCauley, Corvallis, OR
Ronald and Marilyn Walsh, Corvallis, OR
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In December 2002
In Memory of Rod Mesecar |
| Keith and Wanda Parrott, Corvallis, OR
Dean and Sylvia Aulerich, Corvallis, OR
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