|
Endowment Foundation Report – April 2006
Completed Projects
- The committee has completed an internal audit. Tom Reed and
Richard Weide presented the audit report to the council for approval
and put forth several recommendations which are in the attached Audit
Report.
- The Endowment Fund name was changed to Endowment Foundation
to better reflect its goals.
- All committees with remaining balances from the 2001
Allocations were contacted.
- A member of Thrivent and Endowment Foundation member for
Augustana Lutheran Church, Paul Gilbertson, presented many suggestions
for Foundation growth, and ideas to get the information out on the
Foundation. Most of these ideas were adopted.
Projects in Progress
- A Website link is being developed for use by the
congregation with history of the Foundation, how the monies have been
spent, contact names, ways to gift the fund with memorial or special
occasion gifts, a copy of the scholarship application, up coming events
held by the foundation and other useful information.
- A pamphlet will be produced to provide the congregation
with information on the Foundation.
- A “pew” bookmark will be produced to provide information
and contacts.
- A single Sunday Adult Forum presentation is being
considered for this year. Possibly using Thrivent materials.
- A free workshop is scheduled for August 27th for an Estate
Planning presentation by congregational and local financial advisors.
- The Terms and Conditions and Governing Bylaws will be
reviewed.
- The current investment is being reviewed with Thrivent for
the development of an investment policy. Thrivent has suggested that
the money, which is earning about 4% be placed in a moderately
aggressive growth fund, currently earning more than 10 %. This switch
has been voted on by the Foundation Committee and a recommendation sent
to the council to reposition the fund.
The Committee is very excited
about the future possibilities for this
Foundation.
Respectfully submitted,
Karen Johnson
Endowment Foundation Chair
|
