MISSION ENDOWMENT MINISTRY
THE PURPOSE OF THE MISSION ENDOWMENT FUND
The purpose of the First Lutheran Church Mission Endowment Fund is to enhance the mission outreach of First Lutheran apart from the general operation of the
Congregation. No portion of the income generated from the fund shall be used
for the annual operating budget of the church.
As a result, the following Continuing Resolution explains more about the Committee that oversees the Fund:
The Mission Endowment Fund Committee’s purpose is to:
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receive requests to donate to the Fund and to identify relevant charities and causes for granting Fund distribution;
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to prudently manage and invest the principle;
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to educate and inform members of the church and others of the Fund’s existence and the financial planning options for donating to the Fund.
WHO ARE THE PRESENT MEMBERS OF THE MISSION ENDOWMENT FUND COMMITTEE?
Douglas Larson, Committee Chair 218 534-2968
Doyle Jelsing, Secretary 320 515-9324
Jenni Cline 218-839-6487
Sue Landsverk 218 839-5421
Steve Spigarelli 218 927-6729
HOW DOES AN ENDOWMENT FUND WORK?
Individuals, couples, families or groups can make gifts or donations to the Fund. These monetary gifts are then added to the principle and are not able to be withdrawn or used for grants or other disbursements. The principle is not to be spent, except in the case of dire financial failure of First Lutheran Church, when the entire fund would be available to save our church. C13.08f in our Bylaws. We are also allowed to fund capital improvements and ELCA missions. However, the income generated from the principle can be used for grants or disbursements for furthering the mission of First Lutheran Church. The money gifted, donated, contributed or whatever you call it, then becomes an ongoing legacy.
In 2018, the Fund Committee moved the principle and income into Thrivent Charitable, a Minnesota non-profit corporation located in Minneapolis. The income generated by this move has enabled the Fund Committee to make numerous grants in the last seven years. Sometimes, the Committee will put out announcements that grants are available, perhaps with wide-open parameters; sometimes with set guidelines and at times, the Committee will make decisions on what to grant.
If there should be no available income, above the total contributions made to the fund, then no grants would be made. Presently, the Fund Committee has determined that up to 5% of the total Fund Balance may be distributed within a year, if that amount is available. For 2025, that amount is $8,000.
HAVE YOU THOUGHT ABOUT PASSING ON A FINANCIAL LEGACY?
It is said that “No one plans to fail, but sometimes people fail to plan.” Passing on some of your financial legacy may never have crossed your mind, or it has. Maybe you have or have not made a will in which you have designated what you want done with your financial resources. You may also have thought that you would like to pass on some of your financial assets to influence the world. But maybe you don’t know where to turn to do that. It is for exactly this purpose that the Mission Endowment Fund of First Lutheran Church was set up. Money can be given to the Fund that will be added to the principle amount. As that money is invested in prudent and careful ways, the income can then be used to help various opportunities for furthering the mission of First Lutheran Church within the church itself or in the community.
Some people make regular gifts to the Fund; some make gifts in memory or in honor of others to the Fund. Still others, designate some of their resources to the Fund when they have died.