GRACE LUTHERAN CHURCH
FOUNDATION NEWS
Caring for the Ministry of Grace: "Ecclesia Perpetua"
November 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.
The Board of Directors acknowledges the generosity of the following people for donations:
June 2004
In Appreciation of Herb Hansen
Betty Miner, Corvallis, OR
In memory of Clara Storvick
Phyllis Mesecar, Corvallis, OR
In Memory of Lorraine Benson
Alice Anderson, Warren, MN

July 2004
In Memory of Margaret Musch
Millie Babb, Corvallis, OR
David and Diana Scribner, Corvallis, OR
Jenny and Duane Parker, Abingdon, MD
Marna Holcomb, Corvallis, OR
June Beck, Corvallis, OR

In Memory of Mary Benner
to the Ronnenkamp Fund
Winnifred Mathews, Corvallis, OR
Marna Holcomb, Corvallis, OR
Elva and Marilyn Benner, Oceanside, CA
Larry and Marline Benner, Fremont, CA
Millie Babb, Corvallis, OR

August 2004
In Memory of Lorraine Benson
Harold and Arlys Benson, Corvallis, OR

In Memory of Joe Brye
Robert and Marcie Anderson, Corvallis, OR
Harold and Arlys Benson, Corvallis, OR

In Memory of Joe Brye
to a Music Fund
Ted and Swannie Carlson, Corvallis, OR

In Memory of June Nunn
Millie Babb, Corvallis, OR

In Memory of Lloyd Tracewell
Anita McEldowney, Corvallis, OR
August 2004
In Memory of Margaret Musch
June Beck, Corvallis, OR
Ron and Kay Larson, Corvallis, OR
Elizabeth Cundiff, Forest Hill, MD Ruth Alexander, Corvallis, OR
Anita McEldowney, Corvallis, OR
Herb and Donna Hansen, Corvallis, OR
Ken and Sue Kingsley, Corvallis, OR
Tripod Data Systems, Corvallis, OR
Fred and Virginia Gross, Towson, MD
Mary Pfeiffer, Baltimore, MD

In Memory of Mary Benner
to the Ronnenkamp Fund
June Beck, Corvallis, OR
Larry and Donna Blus, Corvallis, OR
Lew and Dona Williams, Corvallis, OR

In Memory of Robert Oligney
Harold and Arlys Benson, Corvallis, OR

In Memory of Marge Amen
to the Ronnenkamp Fund
Kris and Carolyn Warloe, Corvallis, OR

In Memory of Don Skwark
to the Ronnenkamp Fund
Kris and Carolyn Warloe, Corvallis, OR

In Memory of Don Skwark
Herb and Donna Hansen, Corvallis, OR
Phyllis Mesecar, Corvallis, OR
Harold and Gloria Werth, Corvallis, OR
Anita McEldowney, Corvallis, OR

September 2004
In Memory of Marge Amen
Mary and Walter Bublitz, McMinnville, OR
In Service to the Ministry of Christ's Church
Year-to-Date Financial Report-September 2004
Year-to-Date Growth Before Expenditures
Personal Contributions $5,376.00
Earnings $6,377.78
Rental Property Income $5,385.85
Variance: Trust Fund Mkt Value (1) $4,971.13

Total Growth

 $22,110.76
Assets Composition on 9/30/04 (2)
Ronnenkamp Fund $453,454.42
Designated Endowments $60,814.28
Designated Funds $8,547.31
Undesignated Funds $11,124.96
Undistributed Earnings $1,542.74
Cash in Property Account (3) $0.00

Trust Fund Sub-Total

 $535,483.77
Rental Property $90,250.00

Assets Total

 $625,733.77
Foundation Expenditures
CPA Review $725.00
Annual Corporate Fees $114.00
Trust Fund Fees $1,496.92
Administrative Assistant $2,283.79
Supplies $293.62
Projects Funded $5,826.80

Expenditures Sub-Total

 $10,742.13
Rental Property Management Fees $406.87
Maintenance & Cleaning $645.75
Landscape $400.00
Water/Sewer $33.18
City of Corv. Rental Property Fee $0.00
Property Taxes $0.00

Rental Property Sub-Total

 $1,485.80

Total Expenditures

 $12,227.93
Projects Funded/Pending in 2004
GLC Brochures $1,000.00
Pastor Continuing Education $1,000.00
"Reclaiming the L Word" books $999.00
Mr. Kropa medical (Brian Smith Fund) $803.50
"Little Grace" property-painting $1,732.00
Ylvisaker workshop/visit $503.30
Organ repair (Music Instr. Fund) $310.00
Music books (Kuehn Fund) $53.00
Choir music-Ylvisaker (Kuehn Fund) $179.50
Outdoor Banners $400.00
Memorial Funds
Communion Albs & Linen Pieces $1,282.00
NW Parish Nurse Ministries (designated) $100.00
Portable Communion Kits (three) $146.50

Total Projects

 $7,226.80

continued in next column...

 
...continued from previous column
(1)   On 12/31/03 the market value was $85,138.44 below book value. On 09/30/04 the market value was $79,943.14 below book value.
(2)   Amounts listed represent book values rather than market values. Note that $474,344.92 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:
September 2004
In Memory of Marge Amen
Gordon & Mary Ann Matzke, Corvallis, OR
Paul, Shirley and Susan Oman, Corvallis, OR
Cy and Cynara Stadsvold, Corvallis, OR
Hilman and Delores Ratsch, Corvallis, OR
Ron and Barbara Manbeck, Corvallis, OR
Betty McCauley, Corvallis, OR
Ted and Swannie Carlson, Corvallis, OR
Juan and Karen Guzman, Corvallis, OR
Eldon and Carol Erickson, Corvallis, OR
Dale and Mary Jane Weber, Corvallis, OR
Helen Hansen, Corvallis, OR
Larry and Donna Blus, Corvallis, OR
John and Joanne Lattin, Corvallis, OR
Anonymous
Lew and Dona Williams, Corvallis, OR
Millie Babb, Corvallis, OR
Wilma and Mitt Larson, Corvallis, OR
Doris Conger Caldwell, Corvallis, OR
Herb and Donna Hansen, Corvallis, OR
Dorothy Kerchner, Corvallis, OR
Johnnie and Carol Rice , Corvallis, OR
Anita McEldowney, Corvallis, OR
Charlie and Tammy Mercer, Corvallis, OR
Bill Benson, Corvallis, OR
Robert and Suzanne Doerge, Corvallis, OR
Olaf Paasche & Clara McCormick, Corvallis, OR
Trudy Jacob, Corvallis, OR
Donald and Frances Brostrom, Dallas, OR
Cliff and Jo Anne Trow, Corvallis, OR
Philip and Evelyn Magnusson, Corvallis, OR
Harold and Gloria Werth, Corvallis, OR
Edna and Wayne Schultz, Corvallis, OR
Beverly Johnson, Corvallis, OR
John and Marion Swanson, Corvallis, OR
Marjorie Brotherton, Walla Walla, WA
James and Marjorie Crueger, Corvallis, OR
Bethel and Dean Davis, Eugene, OR
Harlow and Ardis Ranton, Corvallis, OR

 

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