The Foundation
The Mt. Carmel Church in Minneapolis Foundation is an organization that enables Mt. Carmel members to live God’s Word by exploring and discerning the gifts of the congregation. The Foundation supports various Mt. Carmel ministries through higher education scholarships, staff development, lay leader training, facility repair and renovation, and program supplies and equipment. Gifts naming the “Mt. Carmel Church in Minneapolis Foundation” are invested in perpetuity with the interest spent on ministry support.
History
Individual members of Mt. Carmel formed and incorporated the Mt. Carmel Church in Minneapolis Foundation in September 1964. Twelve members of the church attended the first meeting in January of 1965. The Articles of Incorporation of 1964 provided that $1,000 in principal was to be retained in perpetuity—unless donors specifically directed the gifts disposition—and to expend the income from the investment of those gifts in excess of that $1,000 for religious, charitable, benevolent and educational uses.
Since 1964, the Foundation has funded expenses not provided for in the annual church budget to benefit the church through gifts and memorials. That funding includes capital improvements to the church structure, purchase of an organ and its maintenance, choir robes, carpeting, audio-visual equipment, new technology, camp scholarships, seminary and college scholarships for members and many more uses. Conservatively, more than $500,000 has been distributed for Mt. Carmel projects, property and people.
A significant change in Foundation policy and practice was adopted in April 2002 with the formal acceptance of an Investment Policy Statement for the Foundation. The investments to this date were limited to Certificates of Deposit, Treasury instruments, and interest-bearing savings accounts. In 2002, the Certificate of Incorporation was amended to include investments in individual stocks, mutual funds, real estate investment trusts or money market mutual funds. An investment advisor was selected and an investment plan for moving the assets through the investment advisor was established. Currently, that investment advisor is Wealth Enhancement Group.
Donate
The Foundation has received gifts ranging from $5 to $100,000 over the years. Gifts are usually received in the form of bequests and memorials. The Foundation has also planned and provided concerts and golf outings over the years as fundraising tools. In 2004, an inaugural dinner was held for members of Mt. Carmel to introduce the Legacy Partners program. This is a focus on growing an alliance of members and friends who have named the Mt. Carmel Foundation or Mt. Carmel Lutheran Church as a beneficiary in their estate plan. That dinner has been changed to a brunch, held annually to introduce that concept of legacy giving to church members.
Request Funds
Current policy calls for funding requests to be submitted at least two weeks prior to a Foundation Board of Directors meeting to the president of the Foundation. Meetings are held the third Tuesday in January, March, May, September and November. People requesting funding are asked to attend the early portion of the meeting to explain the request. The request should be for the purpose of funding a church-related expense that is not provided for in the annual budget for Mt. Carmel Lutheran Church.
Serve
The Foundation welcomes people interested in serving as a director in terms of six years. Those interested in serving on the board of the Mt. Carmel Lutheran Church in Minneapolis Foundation or in learning more information can fill out the form below. Please do not use this form to submit fund requests.
Foundation Board
Ralph Matthes, President
Marlys Hegstrom, Vice President,
Sue Feist, Treasurer
Mary Catherine, Secretary
Dan Gillett
Barb Hollister
Brian Wirth
Kevin Ziegler
