2005 Annual Report |
Continuing education - Pastor Dan | $1,000 |
Outdoor banners | $297 |
Synod insert in The Lutheran | $350 |
Laptop computer for Church | $1,426 |
Digital projector | $1,190 |
Director of Lay Ministry (1/3 dispersed) | $15,000 |
Men's Ministry Workshop | $1,000 |
Portable communion kits | $210 |
Parish health guide | $76 |
House of Zion hunger project | $500 |
LED street sign | $3,000 |
Oil stocks for healing prayers (5) | $99 |
Communion albs (6) and cinctures | $711 |
Sound equipment for the sanctuary | $1,038 |
Sanctuary roof lighting (in memory of Marge Amen) | $61 |
LED street sign (supported in part in memory of Marge Amen) | $956 |
Music Director computer and software | $1,375 |
Total Funding during 2005 | $28,289 |
During the first 9 months of this year, receipts for the Foundation totaled $55,294.00. That included $7,354 from the trust fund earnings, $4,224 rental property income, and $43,704, in contributions from individuals and organizations primarily affiliated with Grace. Expenditures in 2005 for the same 9 month period totaled $15,552 including $1,593 in trustee fees to Union Bank of California and $2,423 in Administrative Assistant wages. We are hopeful that growing investments and additional giving will increase our ability to fund projects in the future.
The Board intends to remain accountable and prayerful stewards of the Foundation. As of Sept. 30, 2005, the book value of the Foundations total assets was $584,327. This is a decrease from last year in part as a result of the Foundation deeding the property at 446 NW Kings to the church. The Market value of the Foundations total assets were $529,665 as of Sept. 30, 2005.
Much of our efforts in the coming year will be focused on maintaining sound accounting and auditing procedures, providing information about estate planning and tax benefits to potential donors, encouraging additional contributions, and making sure funds are invested and maintained appropriately.
Carolyn Warloe,
Board President
Grace Lutheran Church Foundation