Frequently Asked Questions
What is planned giving?
Planned giving is simply giving that requires a little extra planning to accomplish. Typically, a planned gift is structured to be completed in the future – for example, describing a gift in a will or trust document or naming the church as a beneficiary of an IRA.
What is the Legacy Society?
The FLC Foundation Legacy Society recognizes those individuals who have chosen to leave a lasting charitable legacy by including the Foundation in their will, trust, or estate plan. The Legacy Society honors its individual members’ charitable passions while establishing its members as philanthropic role models in our church community.
What is the First Lutheran Church Foundation?
The Foundation is a separate entity intended to provide a source of income for the continuing work of the congregation and the church-at-large.
What is its purpose?
The Foundation was established in 1986 to provide investment income to continue building and strengthening the congregation’s ministries.
How will the earnings be used?
The Foundation’s Board of Directors vote to use income from investments to help First Lutheran Church in its ministries, such as to reach out in service to others, to care for facilities, to support new visionary programs, to grow special ministries, and to encourage stewardship.
Is the Foundation an alternative to First Lutheran Church’s normal stewardship needs?
No, it is a separate entity independent of other church accounts. Contributions to the Foundation are invested for the long term. Funds not used for ministry purposes remain in the fund, earning additional income.
How is the Foundation administered?
It is an entity administered by the Foundation’s Board of Directors. The duties of the Board are to collect, invest, administer, and safeguard Foundation assets and promote donations and bequests on an ongoing basis.
How are Foundation donations invested?
Donations are currently invested with the ELCA Endowment Fund.
How can I contribute to the Foundation?
You are encouraged to consider the Foundation in your will or to give a memorial to express love for a family member or friend. Other ways you can contribute include cash gifts, donations of property or stocks, trust arrangements, charitable bequests, or planned gifts of life insurance.
How much should I give?
Any contribution is acceptable and is not limited by specific designations. Any amount is welcome, and all gifts are tax-deductible as law allows. Consult your tax advisor for more information.
For additional information, please email foundation@flcduluth.org. Thank you!