Foundation

The Articles of Incorporation state the purpose of the Foundation shall be to faithfully encourage, manage, and distribute bequest, gift, and endowment resources entrusted to it.  The Foundation is charged with using and devoting the income and principal of its funds to the benefit and maintenance of Good Shepherd Lutheran Church and of any and all institutions and lines of work and activity of whatsoever character now or in the future conducted by Good Shepherd Lutheran Church  (or any of its organizations or committees) which the Board of Directors determines will advance the Ministry of Jesus Christ.

Gifts to the Good Shepherd Lutheran Church Foundation Ltd. are considered endowment gifts.  The funds are invested long term and growth and income are used for grants.  Thus, the gift serves the church for many years in the future, long after the donor has passed on to his/her heavenly home.  Currently 4.5% of the total fund balances are available annually for grants.

Gifts given directly to Good Shepherd Lutheran Church are used to pay for operating expenses and specific needs.

If the donor would like to help the church with current needs they should make their donation directly to the church, and if they would like the donations invested and only the growth and income to be used for grants, they should make their donation to the Foundation.

The Foundation hired Thrivent Financial to provide professional financial management for the Foundation.  An investment policy has been established and is reviewed annually for each fund to maximize results and minimize risk.

In the last few years, grants have been made in the following areas:

1. Scholarships for church members attending ELCA colleges and seminaries.
2. Summer interns who manage day camps and various ministry activities throughout the summer.
3. Hearing loops in the sanctuary and Peterson Hall.
4. Financial assistance for youth attending day camps and overnight camps.
5. Digital signage and a high definition camera to improve communication with our membership.
6. Support for the clothes closet.
7. The Good Shepherd, Allied Drive, and Verona Badger Prairie food pantries.
8. Mellowhood Foundation to improve programs for youth in the Madison Campus neighborhood area.
9. Security system at the Madison and Verona Campuses.
10. Bus service for the disabled and elderly to attend worship service at the Madison Campus.
11. Support for youth attending the National Youth Gathering.
12. Support for Feed My Starving Children.
13. Updates for the Holy Cow vehicle and food truck.
14. An app for improving communications.
15. Headsets for the sound systems in Madison and Verona campuses.
16. Field trips for students at Orchard Ridge Elementary School.
17. Projector and related equipment for presentations in Peterson Hall.
18. Prayground equipment for Verona Campus.

The Foundation is an important part of the GSLC ministry, providing funding for programs not part of the operating budget of the congregation.  The following factors, among others, are to be used as a means of evaluating grant requests for available funds which do not have designated purposes (i.e. food pantry, bus service, camperships):

1. The extent to which the project furthers the mission of GSLC and especially the extent to which it brings something new and innovative to the life of GSLC.
2. The extent to which: a) GSLC members are involved in the activity; and b) the activity benefits GSLC.
3. The cost effectiveness of the use of Foundation funds, including the use of Foundation funds in conjunction with other funding sources, and supporting projects or organizations that have especially limited access to other sources of funding.

Yes, you are welcome to request that your donation be added to the current food pantry fund, bus transportation fund, or the campership fund.  The general fund is our largest fund which supports our scholarships and other items listed in question 3.  If you would like to set up a new designated fund, the gift would have to be a minimum of $100,000 due to the extra cost to have a separate fund.  We would work with the donor on a memorandum of understanding regarding use of the funds.  Our gift acceptance policy does state that the Foundation Board of Directors reserves the right to change the designated purpose or purposes of any restricted gift if the restriction does not seem to fulfill the donor’s intentions or becomes impractical, unnecessary, or undesirable.

One of the common ways to make a donation is by naming the Foundation as a beneficiary of your estate.  Another common way is to donate stocks, bonds, mutual funds, or other long-term appreciated assets.  Outright cash gifts or gifts from an Individual Retirement Account (IRA) work very well.  Sometimes the Foundation is listed as a beneficiary of a life insurance policy.  Charitable gift annuities allow you to receive income for life and it also benefits the Foundation depending on how long you live.

Yes, the Good Shepherd Lutheran Church Foundation, Ltd. Is an IRS-qualified 501(c)(3) organization and your contribution is tax deductible to the extent provided by law when no goods or services were received in exchange for the contribution.

The Nominating Committee of the Foundation recommends to the Foundation Board candidates to serve, and if elected by the Board, they are approved by the congregation at their annual meeting.  Each year three people are elected to a term of three years, and they are eligible to serve two terms.  In addition to these nine board members, the church board appoints one of its directors to serve, and the Lead Pastor is an ex-officio member, for a total of eleven directors of the Foundation.

In receiving gifts, every effort is made to honor the wishes of the donor.  It would include consultation with our pastors and staff to assess the unmet needs and dreams for future initiatives.  The donation could be added to the general fund or a new designated fund could be established, with a memorandum of understanding between the donor and the Foundation.