GRACE LUTHERAN CHURCH
FOUNDATION NEWS
Caring for the Ministry of Grace: "Ecclesia Perpetua"
February 2004
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
Jack Davis
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.
The Board of Directors acknowledges the generosity of the following people for donations:

In December 2003
In memory of Ted Beck

Phyllis Mesecar, Corvallis
La Verne Johnson, Corvallis
John & Adeline Hult, Corvallis
Wayne & Joann Chambers, Albany
Maxine Christianson, Corvallis
Mr. & Mrs. Sheldon Meier, Corvallis
C. E. Schmidt, Corvallis
Clarence & Rosetta Venell, Corvallis
Mary Hardenbrook, Corvallis
Milton Larson, Corvallis
Thomas & Rebecca Kiersky, Corvallis
Guy & Evelyne Hendrix, Corvallis
Lewis & Gloria Nelson, Corvallis
Ruth Alexander, Corvallis
Joel & Audrey Bond Philomath
Lorraine Beyerlein, Corvallis
Robert & Marie Eggers, Corvallis
Carolyn & Jeffrey Roy, Corvallis
William & Lorraine Benson, Corvallis
Hal & Rozella Lindsley, Corvallis
Hilman & Delores Ratsch, Corvallis
Marian Strandt, Albany
Darrell & Jeann Nichols, Eugene
Karl & Patricia Best, Snohomish
Helen Ames, Corvallis
Lloyd & Sharon Jochimsen, Albany
Clark & Marjorie Amen, Corvallis
 Harold and Gloria Werth, Corvallis
Eldon and Carol Erickson, Corvallis
Karen and Juan Guzman, Corvallis
Lois and Jack Davis, Corvallis
Marie Grossnicklaus, Corvallis
Annetta and Donald Lindskog, Corvallis
Anita McEldowney, Corvallis
Lew and Dona Williams, Corvallis
Richard and Lori Hendrick, Corvallis
Robert and Marcie Anderson, Corvallis
Dale and Mary Jane Weber, Corvallis
Robert and Maud Corl, Corvallis
Kris and Carolyn Warloe, Corvallis
Ron and Kay Larson, Corvallis
Herb and Donna Hansen, Corvallis
Alice Beyerlein, Corvallis
Philip and Jeanette Nichols, DeMotte, Indiana
Marna Holcomb, Corvallis
Oliver Spaeth, Corvallis
Joyce Robak, Corvallis
Shirley Pflughaupt, Corvallis
Darla McDonald, Eugene
Kay Dawson, Corvallis
Phyllis and William Malcom, Potomac Falls,
      Virginia
anonymous
 
In September 2003
Larry and Donna Blus

In October 2003
In memory of Rod Mesecar
Phyllis Mesecar, Corvallis
In December 2003
Larry and Donna Blus

In honor of Harold and Gloria Werth
David Werth, Salem
 
In Service to the Ministry of Christ's Church
Year-to-Date Financial Report-December 2003
Year-to-Date Growth Before Expenditures
Personal Contributions $5,295.00
Earnings $12,237.49
Rental Property Income $11,151.17
Variance: Trust Fund Mkt Value (1) $54,871.36

Total Growth

 $83,555.02
Assets Composition on 12/31/03 (2)
Ronnenkamp Fund $454,250.26
Designated Endowments $61,048.70
Designated Funds $9,561.11
Undesignated Funds $4,814.95
Undistributed Earnings $0
Cash in Property Account (3) $897.00

Trust Fund Sub-Total

 $530,572.02
Rental Property $90,250.00

Assets Total

 $620,822.02
Foundation Expenditures
CPA Review $550.00
Annual Corporate Fees $97.00
Trust Fund Fees $1,779.83
Jeanne Smith & Associates $1,052.50
Administrative Assistant $2,917.48
Supplies $96.12
Projects Funded $8,062.31

Expenditures Sub-Total

 $14,555.24
Rental Property Management Fees $981.21
Maintenance & Cleaning $1,399.37
Landscape $480.00
Water/Sewer (tenant reimburse) ($31.78)
City of Corv. Rental Property Fee $8.00
Property Taxes $1,321.18

Rental Property Sub-Total

 $4,158.18

Total Expenditures

 $18,713.42
Projects Funded/Pending in 2003
Footsteps in Faith $100.00
Lending Library Books $52.29
Van Fund (close out) $125.16
Pastor Continuing Education $1,000.00
GLC Brochures $1,000.00
40 Days of Purpose $1,194.00
Luther House-Dr. Peters $400.00
House of Zion Ministries $500.00

continued in next column...

 
...continued from previous column
Projects Funded/Pending in 2003 (continued)
Memorial Funds
Communion Albs & Linen Pieces $1,282.00
Portable Communion Kits $145.99
40 Days of Purpose (Rod Mesecar) $2,415.00
Youth Encounter-Elise Coakley $1,000.00

Total Projects

 $9,214.44
 
(1)   On 12/31/02 the market value was $139,785.64 below book value. On 09/30/03 the market value was $85,138.44 below book value.
(2)   Amounts listed represent book values rather than market values. Note that $474,099.92 of Trust Fund sub-total is restricted endowments that must be maintained as principal.
(3)   Cash in property account does not include $100 minimum required balance.
The Board of Directors acknowledges the generosity of the following people for donations:
In December 2003
In memory of Louise Lysne
Millie Babb, Corvallis

In memory of Louise Lysne
for the Parish Nursing Program
David and Dale Lysne, Corvallis

for the Brian Smith Medical Fund
Dale and Lesley Zerull, Corvallis

In memory of Margaret Mulvaney
Anonymous
Peter and Kay Eilers, Corvallis
Lucille Newton, Corvallis

In memory of Fred Alexander
June Beck, Corvallis
Gertrude Jacob, Corvallis

In January 2004
In memory of Ted Beck
Millie Babb, Corvallis

In memory of Fred Alexander
Ruth Alexander, Corvallis
Millie Babb, Corvallis
Mr. & Mrs. William Luschenat

In memory of Margaret Mulvaney
Millie Babb, Corvallis

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