9th & Crawford -- Phone 785-823-7151

Trinity Foundation of Salina, Kansas

GOAL AND PURPOSE

The Foundation was established to maximize earnings and to benefit our church much like a savings account serves a family.  The principal amount to be funded is $250,000 and, when this amount has been funded, the income from this investment shall be used for major unexpected maintenance or expansion of buildings and grounds, acquiring church or school facilities at other locations, for mission projects, or for scholarships.  After reaching the principal amount, the $250,000 principal in the fund will remain intact but all additional funds generated are then available for use for the above type projects unless Trinity Lutheran Church designates in writing that some or all of the income be reinvested in the Foundation.  Benefit to you?  What a noble way to perpetuate your Christian influence by joining your resources with others like you who love God and our church and desire that Trinity Lutheran Church fulfill "THE GREAT COMMISSION."

ADMINISTRATION

The Executive Director of Trinity is charged with appointing a local Foundation Committee to promote and manage the Foundation.  The Committee consists of three (3) members serving staggered terms of three (3) years with one new member being appointed each year and no restrictions as to reappointments, plus the current Executive Director, the Senior Pastor, the Treasurer (or Assistant Treasurer), and the Director (or a member) of the Stewardship Board.  These four (4) serve as ex-officio voting members of this committee.  The committee as of 2-27-05 is as follows:  Dick Tilgner (appointed to take Roy Allen's place) with one (1) year left to serve; Harold Eagleton with two (2) years left to serve; David George with (3) years left to serve;  Ken Berndt as Executive Director; Pastor Robert C. Schaedel as Senior Pastor; Gary Wood as Treasurer; and Eldon Hyle as Director of the Stewardship Board.  In addition starting in 2003 the committee also named some members to serve as Advisory members to the Committee:  The Advisory members as of 2-27-05 are Roy Allen, Dean Groves, Daran Neuschafer, and Tom Peebles.  While the main custodian of the Foundation shall be the LCMS Foundation, the local Foundation Committee must advise the LCMS Foundation how to invest the funds since it offers a number of options for investing,.  In addition, the local Foundation Committee may, in its discretion, select other investment opportunities, such as Lutheran Church Extension Fund, etc. 

WAYS OF GIVING

The first priority of your giving to Trinity should be your annual plan of giving for the General Operation and Mission Budget.  The Foundation is a second but crucial priority.  It is an opportunity for members to leave tangible assets as a lasting memory to continue the Lord's work.  All gifts are welcome no matter the amount.  By joining small gifts with large gifts it is possible to accumulate significant funds over a period of time.  Many persons prefer to make a gift of thanksgiving on some special occasion and the Foundation would be one of the channels through which such a gift could be made.  Other ways of giving include:  Living Gifts (these may be money, securities, property or a gift, which provides income for life), Life Insurance (if your life insurance  coverage exceeds family needs, you can sign over an existing policy), Bequests (remembering the Foundation in your will), and Real Estate (gifting your personal residence to the Foundation with the right to continue using it for your lifetime, enables you to take an immediate tax deduction and another estate tax deduction at the time of death).

HISTORY AND BACKGROUND OF TRINITY FOUNDATION

The Foundation was started in 1986 with a donation of $1,544.83 from the 50th Anniversary Celebration of Trinity Lutheran Church in Salina.  It was officially approved by the Voters Assembly in June 1987 when the bylaws were amended to add Article 8 which contains the provisions to govern and manage this Foundation.  The first committee consisted of Roy Allen (3), Bill Roth (2), and Dean Groves (1).   In 1988 Bill Roth resigned and Dick Tilgner was appointed to replace him.  In 1993 an agreement was signed with the Missouri Synod Foundation to invest and manage the funds.  In 2001 the bylaws were amended to show that it was now the LCMS Foundation.  Also in 2001, the committee was enlarged by adding the above named four (4) ex officio members.  In 1994 the estate received an annuity of $10,193.65 from Garrett Preston and an additional donation of $40,000 from his estate in 1995.  By 1999, the fund total was $113,864.33.  While the practice was to turn all donations over to the LCMS Foundation as they were received, it was voted in 1999 to keep $1,000 locally for contingencies.  The three (3) committee members continued to accept reappointment each year until 2000 when Dick Tilgner resigned and Harold Eagleton was appointed to replace him.  In November 2003 Dean Groves advised of the committee's decision to name some Advisory members to provide continuing expertise in handling this work.  Dean also announced his decision to not accept reappointment and, when his term expired in 2004, David George was appointed to a three (3) term to serve with Harold Eagleton (2) and Roy Allen (1).  Later in 2004, Roy Allen resigned his position for health reasons and Dick Tilgner was appointed to fill out the rest of Roy's term.  Because of their expertise and long term service on the committee, both Roy and Dean were then named to serve on the Advisory team. 

CURRENT STATUS OF FUND

Since these funds are invested by the LCMS Foundation, the market value fluctuates from time to time; however, the latest account statement from LCMS Foundation  shows this fund with a market value of $153,802.32 as of 12-31-04.  In addition the Foundation has life insurance policies with a cash value as of 9-2-04 of $16,806.81, plus $1,910.45 in the church's restricted funds as of 12-31-04 and $5,545.60 in an LCEF savings account paying 2% interest, for a grand total value of $178,065.18. 

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Last Update:  Wednesday, July 02, 2008

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