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GRACE LUTHERAN CHURCH
FOUNDATION NEWS
Caring for the Ministry of Grace: "Ecclesia Perpetua"
February 2005
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Board of Directors
Carolyn Warloe
President
Karen Guzmán
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.
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How to Make a Good Gift Better |
More and more people are taking advantage of the many gift-planning options available today. These include bequests by will, revocable trusts, gift annuities, pooled income funds, charitable trusts, gifts of securities and real estate, in-kind gifts, endowment giving, and other possibilities.
Some gifts can be made to benefit the charity now (current gifts) and others can be made now to benefit the charity later (deferred gifts). Some gift arrangements are revocable (you can change your mind); others are irrevocable.
A planned gift usually requires more thought than a quick check written against monthly income. These gifts often come out of estate assets. You have to consider the impact of your gift on your overall financial condition. Can you afford a sizable gift at this time, or should you make it later by will? What is the best way to make this gift? Do you need temporary or lifetime income from your gift arrangement? What are the tax implications?
Careful planning can actually make a good gift better. Consider these potential benefits of planning your gift:
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- Maximize the size of your gift.
- Obtain life income from your gift.
- Optimize the tax-related benefits.
- Tailor your gift to a specific need.
- Protect yourself from hasty decisions.
- Increase your personal satisfaction.
Help for You
Grace congregation and the ELCA Foundation want to help you make a good gift better. Our planned giving director,
Patricia Larsen, can assist you in finding the best gift plan for your needs. She will be sensitive to your financial needs and objectives, and will protect your confidentiality.
For further information about charitable gift planning, call (503) 244-4102 or email her at Blessed2Give@cs.com. Any member of the Foundation Board, listed at the left, will also be willing to talk with you about charitable giving options through the Grace Lutheran Church Foundation.
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Our thanks to
Dr. Patricia Larsen,
Director, Oregon
Synod Endowment
Fund, for submitting
the article in this
newsletter.
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The Board of Directors acknowledges the generosity of the following people for donations:
September 2004
In memory of Marge Amen |
Annetta Cochran, Manhattan Beach, CA
Alvin and Trinette Nicholson, Corvallis, OR
Adeline and Bill Hampton, Corvallis, OR
Frank and Maxine Amen, Walla Walla, WA
Lewis and Gloria Nelson, Corvallis, OR
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Frank Adams, Corvallis, OR
Muriel Corcoran, Corvallis, OR
Marna Holcomb, Corvallis, OR
Helen Dickason, Corvallis, OR
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In Service to the Ministry of Christ's Church |
Year-to-Date Financial Report-December 2004
Year-to-Date Growth Before Expenditures |
Personal Contributions
Earnings
Rental Property Income
Variance: Trust Fund Mkt Value (1)
Total Growth
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$6,106.00
$17,325.17
$7,816.60
$17,990.32
$49,238.09
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Assets Composition on 12/31/04 (2) |
Ronnenkamp Fund
Designated Endowments
Designated Funds
Undesignated Funds
Undistributed Earnings
Cash in Property Account (3)
Trust Fund Sub-Total
Rental Property
Assets Total
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$463,256.97
$61,714.21
$8,728.26
$10,885.98
$0.00
$0.00
$544,585.42
$90,250.00
$634,835.42
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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
Water/Sewer
City of Corv. Rental Property Fee
Insurance
Property Taxes
Rental Property Sub-Total
Total Expenditures
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$725.00
$114.00
$2,008.08
$2.00
$3,100.76
$576.72
$7,238.74
$13,765.30
$601.33
$730.75
$520.00
$99.44
$8.00
$200.00
$1,318.91
$3,469.43
$17,234.73
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Projects Funded/Pending in 2004 |
GLC Brochures
Pastor Continuing Education
"Reclaiming the L Word" books
Mr. Kropa medical (Brian Smith Fund)
"Little Grace" property-painting
Ylvisaker workshop/visit
Organ repair (Music Instr. Fund)
Music books (Kuehn Fund)
Choir music-Ylvisaker (Kuehn Fund)
Outdoor Banners
Natural Church Development
Choir Music (Kuehn Fund)
House of Zion Ministries
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$1,000.00
$1,000.00
$1,000.00
$999.00
$803.50
$1,732.00
$503.30
$310.00
$179.50
$400.00
$500.00
$351.95
$500.00
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continued in next column...
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...continued from previous column
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Memorial Funds |
NW Parish Nurse Ministries(designated)
Portable Communion Kits (3)
DVD Player
Total Projects
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$100.00
$146.50
$59.99
$8,638.74
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(1) On 12/31/03 the market value was $85,138.44 below book value. On 12/31/04 the market value was $66,923.95 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.
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The Board of Directors acknowledges the generosity of the following people for donations:
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| September 2004
In Memory of June Nunn
Alvin and Trinette Nicholson, Corvallis, OR
October 2004
In Memory of Lorraine Benson
Virginia Harger, Spokane, WA
In Memory of Esther Scanlon
Larry and Donna Blus, Corvallis, OR
In Memory of Jean LaCoursiere
Larry and Donna Blus, Corvallis, OR
Mildred Babb, Corvallis, OR
In Memory of Marge Amen
Nancy and Wynn Fischer, Corvallis, OR
November 2004
Jean Winner, Corvallis, OR
In Memory of Marge Amen
William and Judith Winkler, Corvallis, OR
December 2004
In Memory of Martha Brauner
Edward and Mary Anne Hall, Corvallis, OR
Joe Lackner, Scio, OR
Lew and Dona Williams, Corvallis, OR
Lois Uphoff, Payette, ID
Dolores and Robert Morgan, Albany, OR
Harold and Charlene Hunter, Corvallis, OR
Delaine Foreman, Corvallis, OR
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