Foundation | Elm Grove Lutheran Church

Our Mission is to enhance, support and encourage the work of God’s church here on earth.

Foundation Funds

The EGL Foundation has three funds into which contributions and income are to be apportioned:

- Living Endowment
- Fund Capital
- Fund Specified Funds

Foundation Policy

This policy establishes operating management objectives to guide the current Board of Directors in the day to day operation of the Foundation.

1) The objective of the Elm Grove Lutheran Foundation is to provide resources to enhance, support and encourage the work of God’s Church here on earth.

2) The Foundation is distinctive in that it will only support programs, purchases and training which will promote the activity of God’s Church here on earth.

3) The Foundation will seek to embrace the total involvement of its members in the activities of the Foundation.

4) The Foundation will manage all funds in a manner which is consistent with the Articles of Incorporation and the By-Laws of the Foundation.

5) The Foundation will honor the stated desire of any donor as long as the desire is consistent with the mission and ministry of Elm Grove Lutheran Church.

6) The Foundation will support both in spirit and in expenditures the preparation and support of Professional Church Workers, i.e., pastors, teachers, DCE’s, etc

FAQ

Does someone from EGL provide oversight for the management of funds?

Yes, there is a Board of Directors consisting of 8 members, plus the pastors, school principal, and church president. Members serve staggered terms of 4 years, after being elected at a Voters’ Assembly. The Board is guided by a policy manual that may be viewed upon request.

Who handles the investments?

LPL Financial, one of the leading finacial services companies and one of the largest independent brokers/dealers in the nation, manages the funds. Richmond Financial Services, located in Mequon, WI, is our local contact. Their advisors have a minimum of 10 years’ experience. The Board has been satisfied with their services and investment strategies.

Does the Elm Grove Foundation have goals and objectives for investing funds?

Yes, The Foundation is managed to provide maximum returns and to meet the objectives of liquidity of investments, full investment of all funds, diversification of risk, and the intent of maintaining a rate of return in excess of the inflation rate.

How are the funds allocated and disbursed?

Living Endowment funds from major gifts, bequests, or endowments use only the income from the investments and focus on missions, church workers, new programs, and operations.

Capital funds from gifts or bequests in any amount may use both principle and income for capital projects at Elm Grove Lutheran Church or through The Lutheran Church-Missouri Synod.

Specified funds from memorials/gifts may use both principle and income for our church or synod operations and may be specifically earmarked by the donor.

How can I learn about the work being accomplished with my donation?

The Chairman of the Board and the Treasurer will meet with you at your request to review income & expenditures related to your donation/fund. You may also request a yearly update at the time you donate funds.