 |
GRACE LUTHERAN CHURCH
FOUNDATION NEWS
Caring for the Ministry of Grace: "Ecclesia Perpetua"
May 2004
|
Board of Directors
Carolyn Warloe
President
Karen Guzman
Treasurer
Michael Beachley
Secretary
Hal Dick
Director
John King
Director
Larry Burt
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.
Our thanks to
Dr. Patricia Larsen,
Director, Oregon
Synod Endowment
Fund, for submitting
the article in this
newsletter.
|
| |
STOCK QUIZ |
Here's a little true/false quiz to test your knowledge about using publicly traded stock to make a charitable gift to ministry. Good luck.
____ 1. Only stocks traded on the New York Stock Exchange can be used to make charitable gifts.
____ 2. For tax purposes, it is normally better to sell long-term appreciated stock and give the cash to your congregation.
____ 3. The value of a stock gift is determined on the date when the congregation receives a letter from the donor indicating his or her decision to make the gift.
____ 4. If you buy stock in January and in three months it doubles in value, you can give the stock to your church in June and avoid paying capital gains tax on the appreciation of the stock.
|
____ 5. It is normally better to give stock that has depreciated in value rather than stock that has appreciated.
____ 6. For tax purposes, the value of a stock gift equals the amount of cash received by the church after it sells the stock.
____ 7. Most stock gifts require legal assistance to complete.
If you answered all of these questions "false" you may move to the head of the class. On the other hand, if you used the "T" word, or were unsure of any of your answers, contact a Foundation Board member to request a free brochure on making gifts with stock. We want you to know the advantages of stock gifts -- and how easy these gifts are to complete.
|
The Board of Directors acknowledges the generosity of the following people for donations:
January 2004
In memory of Ted Beck |
Fred and Joan Price, Corvallis, OR
Harold and Arlys Benson, Corvallis, OR
Joseph & Nancy Holder, Black Butte Ranch, OR
|
Eugene Fenske, Gresham, OR
Hal Dick, Corvallis, OR
Shirley Geiger, Murrieta, CA
|
| In Memory of Lorraine Benson |
Hal and Rozella Lindsley, Corvallis, OR
Robert & Marcie Anderson, Corvallis, OR
Ted & Swannie Carlson, Corvallis, OR |
June Beck, Corvallis, OR
Ralph Allen, Corvallis, OR
Harold & Gloria Werth, Corvallis, OR
|
| In Memory of Charles Jackson
Millie Babb, Corvallis, OR
|
|
|
|
|
|
In Service to the Ministry of Christ's Church |
Year-to-Date Financial Report-March 2004
Year-to-Date Growth Before Expenditures |
Personal Contributions
Earnings
Rental Property Income
Variance: Trust Fund Mkt Value (1)
Total Growth
|
$2,590.00
$1,963.72
$2,925.00
$11,218.07
$18,696.79
|
|
Assets Composition on 3/31/04 (2) |
Ronnenkamp Fund
Designated Endowments
Designated Funds
Undesignated Funds
Undistributed Earnings
Cash in Property Account (3)
Trust Fund Sub-Total
Rental Property
Assets Total
|
$452,977.12
$61,046.78
$8,857.31
$9,838.11
$349.72
$897.00
$533,979.71
$90,250.00
$624,229.71
|
|
Foundation Expenditures |
CPA Review
Annual Corporate Fees
Trust Fund Fees
Misc. Fees
Administrative Assistant
Supplies
Projects Funded
Expenditures Sub-Total
Rental Property Management Fees
Maintenance & Cleaning
Landscape
City of Corv. Rental Property Fee
Property Taxes
Rental Property Sub-Total
Total Expenditures
|
$0.00
$50.00
$1,306.19
$2.00
$966.62
$2,049.00
$3,730.69
$234.00
$0.00
$120.00
$0.00
$0.00
$354.00
$4,084.69
|
|
continued in next column...
|
|
The Board of Directors acknowledges the generosity of the following people for donations:
January 2004
In Memory of Fred Alexander
Harold and Gloria Werth, Corvallis, OR
Dolores & Alfred Marchlewski, Naugatuck, CT
Audra Barnett, Corvallis, OR
Wilma Spees, Philomath, OR
Hal Dick, Corvallis, OR
February 2004
Brian Smith Medical Fund
Robert and Phyllis Smith, Gladwin, MI
In Memory of Margaret Mulvaney
Anita McEldowney, Corvallis, OR
|
|
|
...continued from previous column
|
| |
Projects Funded/Pending in 2004 |
Footsteps in Faith
Lending Library Books
Pastor Continuing Education
GLC Brochures
"Reclaiming the L Word" books
Mr. Kropa medical (Brian Smith Fund)
"Little Grace" property-painting
|
$100.00
$52.29
$1,000.00
$1,000.00
$990.00
$803.50
$2,000.00
|
| Memorial Funds |
NW Parish Nurse Ministries(designated)
Portable Communion Kits (3)
Total Projects
|
$100.00
$146.50
$6,201.29
|
|
(1) On 12/31/03 the market value was $85,138.44 below book value. On 03/31/04 the market value was $73,696.20 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 February 2004
Larry and Donna Blus, Corvallis, OR
In Memory of Fred Alexander
Robert and Maud Corl, Corvallis, OR
In Memory of Lorraine Benson
Arnold Benson, Hermantown, MN
Alice Anderson, Warren, MN
Lisa and Ernie Willett Vega, Kennewick, WA
Matthew Willett, Kennewick, WA
Naomi Anderson, Thief River Falls, MN
Amy Willett, Corvallis, OR
Anne Willett, Corvallis, OR
Clark and Marge Amen, Corvallis, OR
Anita McEldowney, Corvallis, OR
Irene Emerick, Corvallis, OR
Terrance McGrath, Corvallis, OR
Emmy Kruse & Karen Knoll, West Fargo, ND
Robert and Maud Corl, Corvallis, OR
Roger and Whitney Lindquist, Corvallis, OR
In Memory of Ted Beck
Ronald and Marilyn Walsh, Corvallis, OR
Betty McCauley, Corvallis, OR
Michael and Sandra Beachley, Corvallis, OR
Trudy Jacob, Corvallis, OR
Anonymous
|
|
|