The Calvary Endowment Funds are for the purpose of receiving gifts made by donors during their lifetime or at the end of their lives. The Calvary Endowment Funds are separate funds established by Calvary Lutheran Church of Golden Valley. The Funds were created to receive special gifts for outreach, Calvary ministries or other special purposes designated by a donor. The Funds are managed separately from other assets of Calvary, by a Board of Directors comprised of nine Calvary members.

Calvary has two primary endowment funds to which a donor can designate either a lifetime gift or a gift upon death. They are called Outreach Endowment Fund and Congregation Ministries Endowment Fund. In addition, there Special Purpose Endowment Funds , or donors may create their own with approval from the Endowment Fund Board.

Outreach Endowment Fund

Grants from this fund will be used for outreach purposes that go beyond the congregation. The disbursements will consist of the annual income of the fund plus at least 10%, but not more than 25% of the value of all fund's assets. All gifts not designated by the donor and which become effective on or after the donor's death shall be added to this fund.

Congregation Ministries Endowment Fund

This fund exists to support the ministries within Calvary. The distribution policy is designed, over time, to preserve the principal received from donors and preserve the purchasing power of the gifts, with the excess growth being distributed annually to support the ministries at Calvary. The principal shall be held in perpetuity.

Special Purpose Endowment Fund

Other endowment funds have been and may be created as desired by a donor in consultation with the Endowment Fund Board. The purposes and the amount of disbursements shall be as designated in writing by the donor and with the approval of the Endowment Fund Board. An illustration of such a special purpose endowment fund would be the - Seminary Student Scholarship Endowment Fund, or Youth Endowment Fund.

What Will the Assets of the Funds Be Used For?
The assets of the two current funds will be used for both Christian Outreach (the Outreach Endowment Fund) and Ministries at Calvary (the Congregation Ministries Endowment Fund). The assets of special purpose endowment fund will be used as the donor suggests.

Who Manages the Funds?
The Funds and the investments are managed by a Board comprised of nine members elected by the congregation, plus the president of the congregation and the senior pastor.

Who Decides How the Money Will Be Spent?
All benevolent grants from the Funds will be made by the Board subject to approval by the church council.

How Much Will Be Spent Each Year?
For the Outreach Endowment Fund -- The income of the Fund and at least 10%, but not more than 25% of the value of all Fund assets. Generally speaking, a donor's gift to the Outreach Endowment Fund will be used over a ten-year period.

For the Congregation Ministries Endowment Fund -- The growth of the Fund in excess of inflation. The principal shall be held in perpetuity.

For a Special Purpose Endowment Fund -- The amount spent each year shall be as directed by the donor. The principal shall be distributed or retained as directed by the donor, with the guidance and approval of the Endowment Board.

How Might One Make a Testamentary Gift, Making a Gift at the End of One's Life?
A donor should simply make one of the endowment funds a beneficiary or partial beneficiary (percentage or dollar amount) in one of the following ways:

• Bequest in a will
• Beneficiary of a living trust or other trust
• Beneficiary of life insurance
• Beneficiary of bank account or U.S. savings bonds
• Beneficiary of IRA, 401K or other retirement plan
• Beneficiary of a Charitable Remainder Trust
• Transfer of a home while retaining a life estate

What Type of Property Can Be Donated?
One may donate cash, bonds, real estate, art or other investments. The Board, however, reserves the right to decline a gift that it might be unable or unwilling to manage.

Are There Any Tax Advantages In Giving To the Fund?

Yes. Further information can be provided upon inquiry.

Why Should I Consider a Gift to the Calvary Endowment Funds?

Such a gift may be made in the words of the bylaw creating the fund "for the purposes of witnessing to the Christian faith, supporting the mission of Christ's church, and ministering to the needs of people in Christ's name, in the community, the state, the nation, and throughout the world." A gift upon death, is a final opportunity for stewardship, a final opportunity for personal fulfillment, and a final opportunity to declare your values to your family and others whom you have tried to positively influence during your lifetime. A gift made during your lifetime, on the other hand, enables you to see how your gift benefits Calvary's many programs.

How Can I Obtain Further Information About the Fund?
If you would like additional information about the Calvary Mission Endowment Fund or how you can make a gift through your estate please contact Liz Turner lturner@calvary.org by phone at 763.545.5659.