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FOUNDATION NEWS Caring for the Ministry of Grace: "Ecclesia Perpetua" February 2007 | ||||
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Changing Times It is a time of change for the Foundation. Two founding members of the Board of Directors are moving on to other activities. And so we say a heartfelt "Thank You" to Larry Burt and Michael Beachley for their many years of dedicated service. As the Council approves new members of the Board, we will keep the Congregation informed. | ||||
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Thoughts from Larry Burt about a Memorable Experience | |||||
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We on the Council were going to be dealing with some perplexing budgetary problems (sound familiar?). But to our surprise, not on the regular agenda, was a
visit from Paul Weswig. He told the deacons that he was the executor for Alice and Karl Ronnenkamp's estate which eventually provided Grace with a gift of $264,000 - no strings attached. Paul made it clear that Alice hoped that we would invest the money for future ministry. One of the quickest decisions I ever saw the Council make was to create some type of endowment that would nurture the gift and expand on our ability to minister to our parish and beyond. I was privileged to be a part of a committee that spent about two and a half years developing the concept of the Foundation and how it would operate. Chairing that committee and serving as the Foundation's president for its first nine years of existence was a rewarding and memorable experience. And I have enjoyed the last three years as just one of the guys on the Board. But now it is time to move on to other ministries and allow other members of Grace to have a chance to shape the future of the Foundation. |
Despite setbacks in the stock and bond markets in recent years the Foundation has grown to about $540,000 in assets as of last year, 90% endowed (to remain invested). Much of that growth has been due to the generous gifts of members - many small gifts add up to a lot. But also some quite large gifts from anonymous donors: a rental home - fixed up and sold; a $50,000 portfolio of stocks and bonds, and a gift for the bulk of the purchase price for Little Grace #1, the property at the corner of Kings and Tyler which Grace now owns.
All of this has allowed us to do about 110 ministry projects so far - $295,000. Some small like the $165 projection screen in the Fireside Room for the Catechetics Program; others like the $48,000 (with all the trimmings) purchase of our magnificent Sanctuary Steinway grand piano. Your Foundation board tries to encourage good stewardship of our resources to support ministry needs beyond the general budget. Mostly these are non-recurring commitments. But occasionally the board votes to support recurring projects that require more than one year - our Lay Ministry Program, as an example. The Foundation is indeed a long-term means of extending Grace's ministry. | ||||
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