Memorials and Endowments
While there are many opportunities to fulfill the mission of First Lutheran Church, some opportunities require giving not available from the regular church budget. Endowment and memorial funds allow the church to enhance the mission, outreach and ministry of the congregation.
Which fund should I direct my gift to?
First Lutheran Church Endowment Fund was established to receive memorial or honorary gifts that would be invested in perpetuity. By using a portion of the annual earnings, the endowment fund continues to grow and provide a permanent source of income to support the church's Christian outreach with a variety of special ministries. This fund provides scholarships, help to social service agencies, educational institutions, and the greater ELCA church. Gifts to this fund may not be designated. The Endowment Committee, elected by the congregation, serves as stewards for this fund. Gifts may be made payable to the First Lutheran Church Endowment Fund.
First Lutheran Church Memorial Fund was established to receive memorial or honorary gifts that could be spent currently to meet special needs of the congregation not being met by the church's annual budget. You may designate your gift towards one of the areas approved by the Memorial Committee or you may choose to make an undesignated gift to the fund. The Memorial Committee, elected by the congregation, serves as stewards for this fund. Gifts may be made payable to the First Lutheran Church Memorial Fund.
Donors may make contributions to the endowment and memorial funds in a variety of methods.
Cash gifts - qualify as a charitable deduction for federal income tax purposes. Remember to specify which fund is to receive your gift.
Bequests and memorials - Through your will you can perpetuate good works with a living memorial. The endowment or memorial fund can be a beneficiary for all or part of your estate.
Life insurance - there are several ways to give life insurance to these two funds. You can name the First Lutheran Church Endowment or Memorial Fund as the beneficiary or part of the beneficiary on a life insurance contract. A life insurance professional can explain the other ways life insurance proceeds can benefit the church.
Securities - gifts of appreciated securities (stocks and bonds) held more than one year can be given to the endowment or memorial funds. Please consult your tax professional who can explain the tax advantages of such gifts.