Bloomington Lutheran Living Hope Endowment/Gift Fund
Purpose
The purpose of the Bloomington Living Hope Lutheran Church Endowment/Gift Fund is to receive and administer approved bequests, estates, insurance, land, stocks, bonds, mutual funds, property, undesignated memorials and other assets to perpetuate the proclamation of God’s Word. Through the Endowment/Gift Fund, the congregation can further God’s kingdom, within our congregation and within our community and world to help ensure that future generations will be told about the Lord.
The fund helps create a source of future income for Bloomington Living Hope Lutheran Church and its school and provides the organization and structure that allows the congregation to encourage and administer gifts.
Why should I consider donating to the fund?
An Endowment/Gift Fund is God-pleasing. Its purpose is to further the mission of the church.
Matthew 28:19a says, "Therefore go and make disciples of all nations."
An Endowment/Gift Fund helps Bloomington Living Hope Lutheran Church and its school to accomplish that mission with sources of funding for special projects and designated programs.
An Endowment/Gift Fund reminds us, God’s people, that wills, estate planning and special gifts are part of Christian stewardship and are God-given opportunities to put love into action for one’s family, as well as for the Lord. In fact, our best opportunity for good stewardship may not be our time on earth, but as we leave this earth to be with the Lord.
The fund provides opportunities to open new horizons for the work of the Lord by assisting programs that enhance the ministry of our congregation for future generations.
There are numerous spiritual reasons to consider a donation to the Endowment/Gift Fund, but there are also many earthly/tax-benefit reasons that become apparent when speaking with an advisor with knowledge of the tax laws and what benefits there are to your family and your church and school.
Definitions of the Endowment/Gift Fund
An “endowment fund” is any dedicated fund which retains principal as a perpetual gift and may distribute growth.
A “gift fund” is any dedicated fund which may distribute both principal and growth.
“Principal” is the original amount contributed to the fund by donors, plus additional contributions by donors.
“Growth” is any interest, dividends, capital gains and appreciation in value that has been earned by a sub-account fund in the current year and past years.
Donor contributions (principal) designated to an “Endowment Fund” sub-account shall be retained as “principal” of that sub-account and only the “growth” may be distributed. Donor contributions (principal) designated to a “Gift Fund” sub-account may distribute both “principal” and “growth.”
Designated funds
Donors to the Endowment/Gift Fund may designate the sub-account(s) to which their gifts shall be directed. Any undesignated gifts to the Endowment/Gift Fund will be directed to the General Endowment Fund sub-account unless the Planned Giving Committee directs otherwise.
The Endowment/Gift Fund is comprised of the following sub-accounts:
- A. General Endowment Fund - distributable growth funds in this sub-account may be used for any purpose within the total ministry of Bloomington Lutheran Living Hope ("BLLH").
- B. General Gift Fund - funds in this sub-account may be used for any purpose within the total ministry of BLLH.
- C. Buildings and Improvements Gift Fund - funds in this sub-account may be used to build, purchase, repair or improve any of the facilities owned and/or operated by BLLH.
- D. Christian Education Assistance and Youth Endowment Fund - distributable growth funds in this sub-account may be used to support the Christian day school, Sunday School, and youth ministries of BLLH.
- E. Christian Education Assistance and Youth Gift Fund - funds in this sub-account may be used to support the Christian day school, Sunday school, and youth ministries of BLLH. [Eagles Legacy Gift Fund]
How can I donate?
You may designate donations in many forms to the Endowment/Gift Fund: memorials, bequests, life insurance benefits, charitable remainder trusts or any other property acceptable to the Planned Giving Committee.
After speaking with a member of the committee, please designate any gift to the fund as “Endowment/Gift Fund” to receive proper credit. Gifts can be designated to any one of the sub-accounts listed above. Any funds not specifically designated will be reviewed by the committee and applied to the General Endowment Fund unless the Planned Giving Committee directs otherwise.
Who administers the Endowment/Gift Fund?
A Planned Giving Committee has been established with the authority to carry out the purposes of the Endowment/Gift Fund.
The committee is responsible for receiving and investing the available assets of the fund through the WELS Foundation. The committee will recommend the best use of the fund’s growth to the Elders’ Council. The committee will render a full and complete account of the fund to the council and congregation on at least an annual basis.
Committee member contacts:
Rev. Scott Spaulding 952-888-2475
Lyle Strehler 952-888-2475
WELS Planned Giving counselor:
Michael Hatzung 651-770-4161
