Foundation

Our Savior Lutheran Church Foundation

PURPOSE

Our Savior Lutheran Church, for many years, has included money in its budget for religious and charitable causes that were not a part of our internal ongoing congregational life. Each year, we send money to Synod that helps to fund many church-wide endeavors, some of which are international in scope. We also directly support local organizations that
are important.

The purpose of the Foundation is to provide funds in addition to the limited funds the church budget provides. As money is accumulated in the fund, it would grow over the years in the future and would exist in perpetuity. A portion of the money earned by the fund would be given annually to local, national or worthwhile foreign causes.

The Foundation will be governed by a 7 member Board of Trustees; 5 would be elected members of the congregation in good standing, plus the Pastor and Congregational Chairperson.

The Board of Trustees, governed by By-Laws approved by the Church Council, would receive, accumulate and invest the contributions and designate the recipient charitable cause.

In Summary, the Foundation provides an opportunity for you to contribute money that will be invested in perpetuity to provide charitable funds for worthwhile organizations far into the future.

SOURCES OF FUNDING

The sources of funding may come in many different ways, such as the following:

• Cash Gifts
  Cash may be received as gifts to honor family, friends, memorials or special occasions.
• Gifts by Will
  Bequests via a will of cash, securities, property or other assets provide an opportunity to make a lasting contribution to beneficiaries of the Foundation gifting.
• Property
  Gifts in the form of property can make a valuable contribution to the Foundation’s fund.
• Life Insurance
  You may want to designate the Foundation as a beneficiary.
• Securities
  A gift of securities that have appreciated in value permits you to avoid paying capital gains tax, plus provides a charitable deduction on your income tax.

ALL CONTRIBUTIONS WILL BE PLACED IN THE FOUNDATION GENERAL FUND

PROFILE OF GIVING

As funds are given to the Foundation, our Trustees will:

• Receive the gift and place it immediately in the Foundation General Fund
• Determine the proper method of investment as money accumulates in the General Fund
• Determine the amount of money to be gifted each year:
  • By determining the fund’s value on December 31st of each year
  • Then taking an average of the last 4 years’ December 31st value
  • Then taking 4% of the average as the amount to be given to charitable recipient