The Calvary Lutheran Church Foundation is a vital component of the ministry of Calvary Lutheran Church. It was established as a separate extension of the church to accept gifts to be held in an endowment fund. The contribution principal is invested in perpetuity. A gift to the Foundation is a gift that keeps on giving.

The purpose of the Foundation's funds shall be to make disbursements to expand the witness and mission of Calvary Lutheran Church, and to support special missions of the Christian Church in the community, region and world. Perhaps the Foundation's greatest service lies in its capacity to respond. Often when special needs arise within the church or community, there is no funding for them in the budget. The Foundation is in the position to meet needs promptly. Disbursements shall not be made for regular, budgeted operating expenses of the Congregation or benevolences that would ordinarily be considered a continuing responsibility of the congregation. The growth of this fund shall be accomplished through bequests willed to Calvary Lutheran Church or the Foundation, through lifetime planned gifts and through outright gifts.

Written bylaws and policies guide the Foundation Board members. A five member Board, serving three year terms, directs the Foundation. The Foundation's activities are communicated in a report prepared for the annual congregational meeting each February. Annual disbursements from any component fund of the Perpetual Endowment Fund are determined by the Foundation Board in response to written grant requests. The amount of annual disbursement is determined by the formula "6% of the fair market value of Foundation net assets as of September 30 of the preceding year." The Current Loving Care Fund can receive gifts from which the Foundation may disburse both principal and income for Calvary Lutheran Church purposes, which may or may not be designated by the donor.

Distributions from the Perpetual Endowment Fund shall be given according to the following purposes:

• Outreach into the community and synod, including seminaries, colleges and social service agencies.
• American and worldwide missions, evangelism and educational ministries.
• Capital improvements, debt reduction, or equipment for Calvary Lutheran Church of Grand Forks, ND.
• Any one or all of the above designated areas may be distributed in any proportion as determined by the Foundation Board.

One can contribute gifts of any size to the Foundation, in a variety of ways, including:

• To honor or memorialize someone through a gift of cash
• Through gifts of real estate or personal property
• Through investments, such as stocks or mutual funds
• By naming the Foundation as the beneficiary of an insurance policy
• By including the Foundation in a will
• Through your estate planning, utilizing a charitable gift annuity or a charitable trust.
• By leaving retirement plan assets (IRA's, 401K's, etc.) to the Foundation through beneficiary designation.

Benefits To The Donor

Your gift will provide for the future ministry and outreach of Calvary Lutheran Church. Additionally, there may be specific financial benefits including:

• An immediate charitable income tax deduction may be claimed.
• Certain gifts may create fixed or variable rates of income.
• Capital gains tax may be totally or partially avoided with certain types of gifts.
• Estate and gift taxes may be reduced.
• One or more beneficiaries may receive life income from your gift.

If you would like to visit with a current Board Member, you are welcome to contact the church office.

For more information about the Calvary Lutheran Foundation or estate planning, please call the church office at (701) 772-4897.