Grace Lutheran Church Foundation

What is it?

Grace Lutheran Church Foundation is a nonprofit foundation established on January 22, 1995, by Grace Lutheran Church, Corvallis, Oregon. Funds are professionally managed in an investment management account.

What is its purpose?

To provide a means for members and friends of Grace Lutheran Church to extend the ministry of the congregation, to enhance the quality of that ministry, and to establish memorials as living testaments to those to be remembered.

How is the Foundation structured?

It has a seven-member Board of Directors approved by the Council; the terms of the Board members are three years and staggered; each year the Foundation sends the Council recommendations for the open positions; the Council also names two ex offici Board members to one-year terms; the Board selects its own officers.

Who provides professional management of funds?

Active management and investment of funds must be placed in the hands of one or more investment managers authorized to engage in the business of acting as a fiduciary in the State of Oregon. Currently the Foundation’s funds are managed by ELCA Investment Management Services.

Does the Foundation provide tax benefits?

Yes! Most gifts are tax-deductible. Strategic gifts may enhance the value of your estate. Consult your accountant or attorney. Foundation Board members are also available to discuss options.

How does the Foundation grow?

– through gifts of cash, and Foundation-accepted gifts of real estate and personal property
– through bequests or as a beneficiary
– through asset appreciation and interest earned

What is an endowed fund?

An endowed fund is one where the original gift(s) or principal is preserved in perpetuity. Only earnings are available to be used.

May gifts be designated?

Yes! You may designate your gift to any existing fund. If you wish to create a new fund, please consult with any member of the Board.

What are some ways to donate to the Foundation?

There are many ways to contribute to the Foundation. Some examples are: through cash donations of any size; through the gift of appreciated stock; by designating the Foundation as a beneficiary of a retirement or other account or a life insurance policy; through annuities where you receive income during your lifetime; through the donation of real estate, etc.

Funds Managed by the Foundation Type of fund, name and purpose. Endowed Funds (only earnings available) Ronnenkamp – a general fund. Parish Nurse – to support the parish nurse program. Pipe Organ – to support the GLC organ. Grace Center – to support the Center. Kuehn – for church choir music. Library – a small fund dedicated to assisting the library. The Foundation also administers memorial donations given in memory of members and friends of Grace Lutheran Church. Non-Endowed Funds (principal and earnings available) Brian Smith Medical – for use when a catastrophic and overwhelming health problem or medical need seriously impacts household finances. Musical Instrument – to purchase and maintain instruments. Schultz Youth Fund – to support group youth activities that further the church mission and values in the community. Technology – to purchase and maintain computer and audio/video items for church use. William and Lorraine Benson Music Fund – to support additional music, the pipe organ, and the grand piano. For additional information: Call the church office 541-757-1600 or write: Grace Lutheran Church Foundation 435 NW 21st Street Corvallis, OR 97330

Among the many possibilities for Foundation support are: Programs Christian education Day care Evangelism Family ministry Health ministry Missions Youth ministry Social ministry Stewardship Worship and music Property Art Building and grounds care Building furnishings Choir robes Equipment Hymnals and music Library additions Musical instruments New construction Property acquisition Remodeling Projects Art exhibits Concerts Conferences Endowed staff positions Seminars Visiting theologians Workshops

The Grace Lutheran Church Foundation offers you a vehicle for supporting the work of the church during your lifetime and beyond.

Stewardship of your accumulated blessings may include the funding or endowing of a church program or project that is especially important to you. Opportunity is also available to memorialize someone special to you, to the Grace congregation, or to Christian endeavor in the world. Aspects of our Christian heritage may also be recognized.

The Grace Lutheran Church Foundation can help you accomplish such goals in a variety of creative ways.

Good stewardship suggests that each person should plan for the disposition of life's accumulations at death. It is wise to prepare that plan in consultation with an attorney to make certain that it is legal and clearly states your wishes.

Revised June 2014