FAITH LUTHERAN CHURCH
Teaching Reaching and Healing, all with God's Love
Castle Rock, Colorado
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The History of the Faith Lutheran Church
Endowment Foundation


In 2000 Helena Ludvigsen, who was a member of Faith Lutheran Church, gifted the  Church with a substantial memorial gift. In April of 2001 the Congregation voted on a proposal to split the gift into a number separate allocations, on the recommendation of a steering committee.
  • A little over $50,000 was set aside to be invested with AAL (later invested with Thrivent). This amount would earn interest for scholarships. The proposal defined the scholarship use as: Seminary scholarships, Christian Student scholarships for college and scholarships for assistance to families with special needs (such as the cost of education for a disabled child, or extraordinary medical expenses). 90% of any earned interest would go toward these scholarships and 10% of the earned interest would be returned to be added to the principle to “grow” the fund. The congregation voted to allocate up to $4,000 of the earned interest for scholarship. This money was given to adults and youth for Christian Education and College tuition before 2002 and additional scholarships were given when more earned interest became available.              
          The awards history is as follows:
          April 2001 - $800 given to two adults each for Christian Education, and $800 given to two youth each
           for College Scholarship
          August 2002 - $350 given to two adults and three youth each for Christian Education and College
          Scholarship
          July 2005 - $225 given to two youth applicants each for College.
          A total of $5,400 was given in scholarships as of 3/2/06
  • $21,000 was put in and interest-bearing account divided into 3 allocations to be spent down to zero.
          1.  $5,000 for youth for camp scholarships and other program expenses. There is a remaining balance.
          (The remaining $552.25 will be used for youth).
          2.  $15,000 for Christian Education. This money was used for the library. There is a remaining balance.
          ($114.86 has been released and returned to the fund)
          3.  $1,000 for Bibles for the Sunday School 3rd graders. The remaining $824.22 will be used over time for
          3rd grade presentation Bibles
  • $31,000 was allocated for immediate needs. It was divided into 5 allocations to be spent down to zero.
         1.  $10,000 was given to help the mission congregation in Elizabeth.
         2.  $13,000 was given to the Worship and Music committee. (The Worship and Music committee will
         continue to use the remaining $1009.93)
         3.  $6,000 was given to adults and youth for Christian education and college tuition. The remaining $208.76
         will be spent on scholarship.
         4.  $1,000 for lobby benches. There is a remaining balance. (Some benches were purchased and installed). 
         5.  $1,000 for a book cart and sanctuary Bibles. A cart and Bibles were purchased. (The remaining
         $171.28 was returned to the fund).

The Endowment Fund “Terms and Conditions” were adopted in April of 2002
A Resolution setting the functions and responsibilities of the Endowment Fund Committee
was adopted in May of 2002.