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  • Phone: (651) 464-3323
  • Mailing Address: 886 North Shore Drive, Forest Lake, MN 55025

 

 

Legacy and Endowment

Legacy Giving

Making estate and charitable plans for your future can help your family save on taxes and benefit the ministries of Faith. A charitable bequest is a distribution of your estate to a charitable organization through your last will and testament. You can create a bequest of any dollar amount, donate specific property or designate a percentage of your estate in your will or trust plan. If you wish to make a gift from your IRA or 401(k) plan, this can usually be done by filling out a beneficiary designation form with your plan administrator. 

Planned gifts may be made to the general operation of the church or to a designation that matches your interests and circumstances. Gifts to general operation will be designated by the Church Council to a purpose that best honors our church mission with 10% set aside for mission grants to the community. An option for donor designation is our Endowment Fund. Meet with our pastoral staff to prayerfully plan your gift.

Faith Endowment Fund

Plant a seed, create a legacy
What is an Endowment Fund?

A fund that holds its principal in perpetuity and only pays out earnings and interest. Faith's endowment fund enhances the charitable, educational and religious missions of the church, apart from the general operation of the congregation.

Faith's endowment fund began with a gift from Gladys Solem in 1991. Her legacy lives on and we honor her memory.

Legacy Story of Gladys Solem

Who manages the money?

It is managed by the Endowment Committee and owned by the members of Faith Lutheran Church. The Faith Endowment Articles of Incorporation and By-laws establish how the Endowment Fund operates.

Funds are invested with the ELCA Endowment Fund Pooled Trust-Fund A. This allows for the collective long-term investment of funds belonging to the ELCA and its affiliated ministries. Fund A seeks positive social investments, directing capital to underserved markets, such as community development and renewable energy. 

Faith retains ownership of funds, receives quarterly statements and has online access to monthly performance reporting.

Funds are managed for growth and income to protect principal.  Only the earnings from the funds will be spent annually for special programs and benevolence.

What is the value of the fund?

The current balance is approximately $229,000 with annual earnings of $11,200. 75% of annual earnings are disbursed each year, and 25% is retained to grow principal.

Can anyone donate?

Yes! Give designated gifts at any time by cash, check or securities.

Or plan a gift. Set up a charitable bequest of your estate to Faith through your last will and testament. Create a bequest of any dollar amount, donated specific property or designate a percentage of your estate. If you wish to make a gift from your IRA or 401(k) plan contact your plan administrator.

Can anyone apply for gifts?

Yes! Consideration is given to applications that enhance the charitable, educational and religious missions of the church.

How does Faith distribute gifts?

1. New ministries within Faith
2. Community outreach
3. Statewide outreach
4. Missions of the ELCA in the USA and Worldwide 

Click Here for the Gift Request Form

Further questions?

Contact Joyce Getchell, Faith Business Administrator at 651-464-3323