What is the Grace Church Foundation?

Posted by & filed under Grace Foundation, Grace Notes, Stewardship.

By the Grace Church Foundation Board

Perhaps you’ve heard our Foundation mentioned from time to time, but you aren’t aware of its purpose or what role it plays in our life at Grace.

In 1995, parishioner Bluma Magher made a financial provision for Grace in her will with the stipulation that it be seed money to begin an endowment fund. In its early years the Board allowed the fund to grow its principal and promoted its existence. From the generosity of Bluma’s gift of $30,250 and the gifts of many others, our Foundation was born and has grown to a total of $239,592 to date.  The Foundation monies are invested and managed by Financial & Investment Management Group in Traverse City.  Twice each year, the Foundation notifies the Vestry of the earnings available for use, and the Vestry discerns whether and where to utilize the proceeds, which are unrestricted.  The Foundation is overseen by an independent board of directors, made up of parishioners who are appointed by the Vestry; they meet four times a year, serving a term of three years.

Little did Bluma know how beneficial her initial contribution would be to the life of Grace Church! Over the last two decades earnings from the Foundation’s principal have supported debt reduction (paying principal on our mortgage), youth formation, rector searches and sabbaticals, roof repairs and our electronic surveillance system.

How can you contribute? By naming the Grace Foundation as a beneficiary in your will or trust document; by naming the Foundation as a recipient of funeral memorial donations; by making a direct donation or pledge to the Foundation; or by donating securities, retirement accounts, real property or a variety of other financial instruments.   Your gift will ensure that the Gospel will continue to be spread, and ministries enabled, long into the future at Grace Church.

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