GRACE LUTHERAN CHURCH
FOUNDATION NEWS
Caring for the Ministry of Grace: 'Ecclesia Perpetua"
August 2005

Board of Directors
Carolyn Warloe
President
Peggy Custer
Treasurer
Michael Beachley
Secretary
Hal Dick
Director
John King
Director
Larry Burt
Director
Jeffrey Beck
Director
Rev. Dan Hallgrimson
Ex-Officio
Neil Christensen
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:
March 2005
In Memory of Laura Dailey
Betty McCauley, Corvallis, OR
Phyllis Mesecar, Corvallis, OR
Victor & Shirley Michel, York, NE
Anita McEldowney, Corvallis, OR
Lucille Koski, Corvallis, OR
William Benson, Corvallis, OR
Andrew & Joanne Daghlian, Corvallis, OR
Louise Erickson, Corvallis, OR
Gertude Jacobs, Corvallis, OR
Dennis and Dorothy Davis, Eugene, OR
J.J. and Shirley Jones, Corvallis, OR
Carlos &Elaine Van Vleet, Corvallis, OR
Edward & Kathleen Heath, Corvallis, OR
Irvin and Nancy Swain, Evansville, IN
Hal and S. H. Athon, Corvallis, OR
Dale & Mary Jane Weber, Corvallis, OR
John and Adeline Hult, Corvallis, OR

In Memory of Wendell Loftsgard
Billie Larson Corvallis, OR

April 2005
In Memory of Laura Dailey
Larry and Donna Blus, Portland, OR
and in appreciation of Dr. Beachley
Charles Dailey, Corvallis, OR

May 2005
Maxine Christiansen, Corvallis, OR
Sue Musil, Corvallis, OR
In Memory of Laura Dailey
Eileen Burkhart, Riverside, CA

To the Kuehn Fund
James and Donna Wernz, Philomath, OR
April 2005
In Memory of June Beck
Helen Falk
Marna Holcomb Renshaw, Corvallis, OR
Hal Dick, Corvallis, OR
Evelyne Hendrix, Corvallis, OR
John and Marion Swanson, Corvallis, OR
Mildred Babb, Corvallis, OR
Stanley and Lois Phelps, Philomath, OR
Robert & Marcie Anderson, Corvallis, OR
Lloyd and Sharon Jochimsen, Albany, OR
Anita McEldowney, Corvallis, OR
Pamela Mayfield, Albany, OR
Ruth Alexander, Corvallis, OR
Wayne and Joann Chambers, Albany, OR
Lew and Dona Williams, Corvallis, OR
Michael & Sandra Beachley, Corvallis, OR
Billie Larson, Corvallis, OR
Norma Moody, Corvallis, OR
Marie Eggers, Corvallis, OR
Mr. and Mrs. Sheldon Meier, Corvallis, OR
Lewis and Gloria Nelson, Corvallis, OR
Helen Ames, Corvallis, OR
LaVerne Johnson, Descanso, CA
Karl and Patricia Best, Snohomish, WA
Annetta Lindskog, Corvallis, OR
Mark and Susan Speulda, Philomath, OR
C. E. Schmidt, Corvallis, OR
Marie Wick, Corvallis, OR
Darrell and Jeann Nichols, Eugene, OR
Darla McDonald, Eugene, OR
Dale and Alene Moulton, Corvallis, OR
Viola Beck
Lillian Meyer, Tracy, CO
Wayne and Edna, Schultz, Corvallis, OR
John and Adeline Hult, Corvallis, OR
Larry and Donna Blus, Portland, OR
 
In Service to the Ministry of Christ's Church

Year-to-Date Financial Report-June 2005
Year-to-Date Growth Before Expenditures
Personal Contributions $43,186.11
Earnings $4,702.33
Project Reimbursement $10.00
Rental Property Income $4,224.92
Variance: Trust Fund Mkt Value (A) ($4,335.80)

Total Growth

$56,459.16
Assets Composition on 6/30/05 (B)
Ronnenkamp Fund $479.565.58
Designated Endowments $61,789.20
Designated Funds $9,053.26
Undesignated Funds $31,962.04
Undistributed Earnings $2,380.07

Trust Fund Total

$584,750.15
Foundation Expenditures
CPA Review $0.00
Annual Corporate Fees $132.00
Trust Fund Fees $1,052.18
Misc. Fees $29.00
Administrative Assistant $1,925.18
Supplies $207.48
Projects Funded $6,431.34

Expenditures Sub-Total

$9,783.18
Rental Property Management Fees $313.99
Maintenance & Cleaning $643.00
Landscape $200.00
Insurance $260.00
Benton County - Title Transfer $41.00

Rental Property Sub-Total

$1,457.99

Total Expenditures

$11,241.17
Projects Funded/Pending in 2005
GLC Brochures $1,000.00
Pastor Continuing Education $1,000.00
Outdoor Banners $297.00
Synod Insert in The Lutheran $350.00
Memorial Funds
Parish Nurse Health Guides (designated) $76.22
Portable Communion Kits (three) $209.95
LED Street Sign $3,000.00
Oil Stocks for Healing Prayers (5) $99.17
Communion Albs (6) & Cinctures (7) $711.00
Sound Equipment for Sanctuary $1,038.00

Total Projects

$7,781.34

continued in next column...

 
...continued from previous column
(A)   On 12/31/04 the market value was $66,923.95 below book value. On 06/30/05 the market value was $62,588.15 below book value.
(B)   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.
The Board of Directors acknowledges the generosity of the following people for donations:

In Memory ofJune Beck
April 2005
Herbert & Donna Hansen, Adair Village, OR
William Benson & Mary Benson Willett, Corvallis, OR
Ron and Kay Larson, Corvallis, OR
Delores Heine, Corvallis, OR
Helen Hansen, Corvallis, OR
Richard & Verna Gallagher, Corvallis, OR
Beverly Johnson, Corvallis, OR
Roger Mickey, Albany, OR
Harold and Gloria Werth, Corvallis, OR
John Gallagher, Corvallis, OR
Marijane Heintzelman, Corvallis, OR
Roy and Marietta Taylor, Corvallis, OR
Elizabeth Markham, Corvallis, OR
Philip and Jeanette Nichols, DeMotte, IN
Karen Logan, Corvallis, OR
Maxine Christianson, Corvallis, OR
Dana Galle-Strowbridge, Corvallis, OR
Richard and Margaretta Scanlon, Corvallis, OR
Mary Hardenbrook, Corvallis, OR
Mary Jo Beck, Sacramento, CA
James and Darlene Leklem, Corvallis, OR
Joseph and Nancy Holder, Black Butte, OR
Jack and Lois Davis, Corvallis, OR
Eldon and Carol Erickson, Corvallis, OR
Betty McCauley, Corvallis, OR
Phyllis Mesecar, Corvallis, OR
Chuck and Dottie Frank, Corvallis, OR
Hal and Rozella Lindsley, Corvallis, OR

May 2005
Corvallis Education Association
Bill and Judy Winkler, Corvallis, OR
Juan and Karen Guzman, Corvallis, OR
Robert and Maud Corl Sr, Corvallis, OR
Dale and Mary Jane Weber, Corvallis, OR
Dick and Lori Hendrick, Corvallis, OR

June 2005
Kris and Carolyn Warloe, Corvallis, OR

 

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