GRACE LUTHERAN CHURCH FOUNDATION NEWS Caring for the Ministry of Grace: "Ecclesia Perpetua" June 2017
Board of Directors Carolyn Warloe President Shelly Lundahl Treasurer Hal Dick Secretary Anne Orwick Director Kris Saathoff Director Bill Strohlein Director Kathy Vohland Director Jeff Beck Ex-Officio Pastor Wendell Hendershott Ex-Officio Joy Linn Administrative Asst. The Grace Lutheran Church Foundation is a professionally managed corporate nonprofit foundation established by Grace Evangelical Lutheran Church, Corvallis, Oregon.
	Beneficiary Designations as Gift Opportunities Edited by Joy Linn
	In addition to wills and trusts, virtually any financial instrument that has a beneficiary designation provides an opportunity to make a revocable gift to support the work of Grace Lutheran Church Foundation and Grace Evangelical Lutheran Church. Life Insurance Policies. It is likely that you have one or more life insurance policies – perhaps a group term policy through an employer or one or more policies you have purchased to address specific needs such as estate liquidity or education funds for children. If the original need for your policy no longer exists or has been addressed in other ways, you may want to consider naming the Foundation as a beneficiary of your policy. Planning pointer: You can split the policy proceeds among more than one beneficiary by giving fractional interests. For example, you might designate one-half for the Foundation and one-half for your spouse or other beneficiary. Fractions are often more useful than specified amounts because the value of policies and other accounts often change over time. Retirement Plan Accounts. Many retirement plans continue to have significant value after the death of the plan participant – value the participant can direct to others through beneficiary designations. Consider naming the Foundation as a beneficiary of all or a part of any retirement plan in which you participate, including employer-sponsored plans or plans you may have created for yourself such as an individual retirement account (IRA) or Keogh plan. If you anticipate that personal and family objectives will be taken care of with other assets, retirement-plan proceeds can make an excellent choice for charitable giving. Reason: Most or all of the contributions and accumulations in such plans have never been taxed. Consequently, all tax-deferred amounts are treated as taxable income to the recipient. Because the Foundation is tax-exempt, it would not pay income tax on retirement-plan proceeds, unlike noncharitable beneficiaries. Continued on next page...

Grace Lutheran Church Foundation Financial Report January 1 - March 31, 2017 Contributions Foundation Total Assets * Expenses $630.00 $596,663.62 $26,976.44 Projects Approved, Pending and Paid MIF4KIDZ Baptism "donations" for     children under age 16, $50 each Giving It Forward Initiative     1:1 matching funds, 2015 grant Sandcastle Preschool Scholarships:     2016-2017 Refugee family assistance (matching) Holden Village Retreat (14 women) Design assessment Grace Center distribution Giving It Forward Initiative     1:1 matching funds, 2017 grant $300.00 $15,391.86 $4,752.00 $4,800.00 $2,505.00 $5,000.00 $1,163.81 $30,000.00 Memorial Funds Diamond Jubilee celebration TV for catechetical instruction 500th Anniversary of the Reformation     Community Celebration Easter breakfast (matching) $1,348.94 $279.99 $3000.00 $1,000.00       Total Projects $69,541.60   * The Foundation's total assets on January 1, 2017 were $594,158.69.

The Board of Directors acknowledges the generosity of the following donors: December 2016 Schultz Family Youth Fund Betty Miner, Corvallis, OR January 2017 Brian Smith Medical Fund Rebekah and Michael Hadlock, Corvallis, OR February 2017 Brian Smith Medical Fund Rebekah and Michael Hadlock, Corvallis, OR In Memory of Marlene Johnson Jody Parker, Corvallis, OR     Beneficiary Designations Continued from previous page. Pay-on-Death Designations. In many states, it is possible to direct organizations that hold funds for you – such as banks and brokerage firms – to pay any account balances remaining at your death to designated persons or organizations. These pay-on-death designations can be extremely useful because they allow such assets to bypass probate. You can name the Foundation as a pay-on-death designee of such accounts. Generally, you can change these designations at any time, so you can be sure that your current designations are in line with your current objectives. Such a designation does not affect your ability to manage, add to, or withdraw from such accounts. Check with your bank or brokerage firm to find out its policy for pay-on-death accounts.