Annual Report
Grace Lutheran Church Foundation
January 2015

Twenty years ago, the Foundation was established at the 1995 Congregational Meeting. The congregation had received a generous gift from Carl and Alice Ronnenkamp, which became the initial funding for the Foundation. The Ronnenkamps wanted the gift to become an endowed fund, whose earnings would support the ministry of Grace through projects which were not funded in the church's general budget.

The Foundation administers multiple funds, some of which are endowed and many that have specific designated purposes. The Foundation is dedicated to preserving the endowed funds while using their earnings to support projects that will enhance the mission of Grace.

The Foundation encourages gifts to the ministry of Grace that could include cash, real estate, living trusts, stocks, bonds, collectibles, and other assets, while providing benefactors opportunities to support specific projects if they wish. This year, thanks to a generous donation from William Benson, the "William and Lorraine Benson Fund" for the support of traditional music was added to the Foundation.

Since Grace Foundation began, our bylaws have stated that "active management and investment of assets of this Foundation must be handled by one or more trust companies authorized to engage in the business of acting as a fiduciary in the State of Oregon." Since 2008, the funds of the Foundation have been managed by the Endowment Fund of the Evangelical Lutheran Church in America.

During our existence as a Foundation, we have awarded $410,256 to a variety of projects that support the mission of Grace. The Foundation has grown through investments and additional gifts to $713,047.62, almost three times the amount Carl and Alice Ronnenkamp gifted the church. The Foundation currently has $221,500 available for awards.