GRACE LUTHERAN CHURCH
FOUNDATION NEWS
Caring for the Ministry of Grace: "Ecclesia Perpetua"
December 2008
Board of Directors
Carolyn Warloe
President
Shelly Lundahl
Treasurer
Hal Dick
Secretary
Jack Davis
Director
Tom Kiersky
Director
Jeffrey Beck
Director
Kris Saathoff
Director
Pastor Zane Wilson
Ex-Officio
Anne Orwick
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.

MORE THAN ONE PLACE AT A TIME
    Forget that old phrase "You can't be in two places at once." As a member of Grace Lutheran Church you are all over the place, both in Oregon and around the world. Where you are not personally able to travel, someone else is there because of your support. Through them you are present around the world, making a difference in the name of Christ.
    As you look forward to the year ahead, take a few minutes to consider how your giving matters and how you are truly in more than one place.
    Through your donations to the Grace Lutheran Church Foundation, you are helping raise up the leaders of the world. Support of OSU's Luther House campus ministry helps our youth as they continue their education. You help feed and cloth the less fortunate 		through support of the House of Zion ministries.
    Without your help, several renovation projects would not have occurred: the middle school room and most recently the basement renovations.
    Your donations also improved the audio experience during worship services.
    We want to be in more than one place at a time and we are because we support our church in so many ways. You make a difference every day. Together we serve a variety of needs and have a dynamic impact on the lives of others.
    If you would like more information about our church and how to support these causes a helpful person to contact is the Oregon Synod's Director of Planned Giving, Dr. Patricia J. Larsen, at 6835 SW 46th Ave., Portland, OR 97219, call her at 503-244-4102 or email Blessed2give@cs.com.

   The Foundation's Board of Directors feels it is important for the congregation to know that recent market fluctuations have lowered the Foundation's assets to $450,991.31, below the endowed value of the funds which is $474,344.92.
    In May, 2007, the Oregon legislature passed HB 2905 "Relating to Uniform Prudent Management of Institutional Funds Act." The Senate passed the bill in June. The bill added provisions allowing for economic fluctuations.
    One part the Foundation calls to your attention is Section 3, Subsection 4:
"(4) The appropriation for expenditure in any year of an amount greater than seven percent of the fair market value of an endowment fund, calculated on the basis of market values determined at least quarterly and averaged over a period of not less than three years immediately preceding the year in which the appropriation for expenditure was made, creates a rebuttable presumption of imprudence. For an endowment fund in existence for fewer than three years, the fair market value of the endowment fund must be calculated for the period the endowment fund has been in existence."
   This subsection allows the Foundation to continue doing its work, including paying grants already approved. The full text of the bill may be seen at http://landru.leg.state.or.us/07reg/measures/hb2900.dir/hb2905.en.html.
In Service to the Ministry of Christ's Church
January-September 2008
Year-to-Date Growth Before Expenditures
Personal Contributions
Earnings
      Total Growth 		$4,089.50
$16,966.42
$21,055.92
Assets Composition on 9/30/08 (1)
Ronnenkamp Fund
Designated Endowments
Designated Funds
Undesignated Funds
Undistributed Earnings
      Trust Fund
$361,447.73
$49,309.08
$7,425.81
$16,729.61
$16,729.61
      $450,991.31
Foundation Expenditures
CPA Review
Annual Corporate Fees
Trust Fund Fees
Misc. Expenses
Administrative Assistant
Supplies
Projects Funded
      Total Expenditures 		$710.00
$148.00
$198.65
$0.00
$2,303.34
$112.19
$2,450.00
      $5,922.14
Projects Funded/Pending in 2008
Baptism 'donations' for Kids under 16,
    $50 each
Youth Mission Guyana trip
Basement Renovation
 $300.00

$2,250.00
$9,000.00
Memorial Funds
Seder Books
Youth Mission Guyana trip
    (Kirk Johnson)
Basement Renovation
    (Wayne Schultz)
      Total Projects 		$150.00
$105.00

$1,000

$12,505.00

The Board of Directors acknowledges the generosity of the following people for donations:
May 2008
Quincy Levien, Corvallis, OR
Keith and Bekki Levien, Corvallis, OR

In Memory of Marcella Ringbloom
Hal Dick, Corvallis, OR

In Memory of Wayne Schultz
Hal Dick, Corvallis, OR
Betty McCauley, Corvallis, OR

July 2008
In Memory of Agnes Adix
Millie Babb, Corvallis, OR
Norma Moody, Corvallis, OR
To the Music Fund
Art and Marilyn Bervin, Philomath, OR

The Board of Directors acknowledges the generosity of the following people for donations:
August 2008
Quincy Levien, Corvallis, OR
Keith and Bekki Levien, Corvallis, OR

In Memory of Agnes Adix: Parish Nurse Program
Art and Marilyn Bervin, Philomath, OR
Mary Lou Imsland, Thousand Oaks, CA
Lew and Dona Williams, Corvallis, OR
Bob and Eleanor Adix, Texas
Pauline Hughes, Iowa
Jean Lind, Wisconsin
Gail Sperry, North Dakota
Linda Stoenner, Wisconsin
Lee and Mary, Gayer, Iowa
Rev. Bruno & Gladys Schlachtenhanfen, Wisconsin
Ralph and Mary Jane Grieve, Corvallis, OR
Ann Adix, Texas

In Memory of Agnes Adix
Harold and Gloria Werth, Corvallis, OR

September 2008
Charlotte Corkill, Corvallis, OR
Johnny Corkill, Corvallis, OR
William and Lorraine Nielson, Corvallis, OR

In Memory of Harriet Johnson
Harold and Arlys Benson, Corvallis, OR Nelson and Marge Lutey, Salem, OR Betty McCauley, Corvallis, OR Jean Hansen and Family, Corvallis, OR

In Memory of Wayne Schultz
Harold and Arlys Benson, Corvallis, OR

In Memory of Clarice Akerson
Larry and Donna Blus, Portland, OR

In Memory of Gloria Nelson
Larry and Donna Blus, Portland, OR

In Memory of Marcella Ringbloom
Larry and Donna Blus, Portland, OR

May 2008
Quincy Levien, Corvallis, OR
Keith and Bekki Levien, Corvallis, OR
William and Lorraine Nielson, Corvallis, OR
Norval Thomas, Albany, OR

In Memory of Betty Campbell, loving sister
Marilyn Loftsgard, Corvallis, OR

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