CHRIST THE KING EVANGELICAL LUTHERAN CHURCH FOUNDATION OF NEW BRIGHTON, MINNESOTA

POLICIES AND PROCEDURES

1. Mission Statement of the Foundation:

To receive charitably gifted funds, invest these funds, and to provide financial support for non-budgeted religious, educational, and charitable programs that further the ministry of Christ the King Lutheran Church.

2. Amount to be disbursed annually by the Foundation:

The Foundation Board of Trustees will issue grants during each calendar year of approximately 6% of the total assets of the Foundation based on the value of the assets determined on January 1 of that year.

[Source: Adopted by the Christ the King Foundation Board of Trustees on November 9, 1999.]

3. Allocation of distributions by the Foundation:

Grants of the Foundation in each calendar year will be awarded to the following categories and in the following percentages:

i. Christ the King Lutheran Church congregational needs – 20% of annual distributions.

ii. Community Needs – 20% of annual distributions.

iii. Global Missions - 20% of annual distributions.

iv. Any of the above - 40% of annual distributions.

[Source: Adopted by the Christ the King Foundation Board of Trustees on November 9, 1999.]

Allocation of gifts to the Foundation:

All gifts of $1001 or more received by Christ the King Lutheran Church that are not designated to a specific purpose by the donor, shall be given to the Foundation.

[Source: Minutes of the Church Council Meeting October 19, 1998]

5. Application for grants from the Foundation:

The Foundation will only consider applications for grants made on the application form designated by the Foundation and available in the church office.

[Source: Adopted by the Christ the King Foundation Board of Trustees on July 14, 1998.]

6. Preference for “Seed Money’ grants:

In evaluating grant requests, the Foundation will give strong preference to requests for Seed Money for programs that will continue as self-supporting or receive their funding from other sources. In certain circumstances the foundation may agree to provide seed money for up to three years as a program moves toward self sufficiency, although it is anticipated that in such a case the grants would decrease each year.

[Source: Foundation Mission Statement and May 12, 1998 Foundation Financial Report approved by the Christ the King Foundation Board of Trustees.]

7. Grants to Individuals:

The Foundation will not make grants to individuals.

[Source: Internal Revenue Service Rules]

8. Governance of the Foundation;

The operations of the Foundation shall be governed by the Articles of Incorporation dated February 14, 1989 and the By-Laws adopted on February 14, 1989.

9. Authorized Signatures for Foundation Transactions:

The President, Vice President, Treasurer, and Secretary or any one of them are authorized to execute any and all documents necessary to engage in transactions relating to securities.

[Source: Adopted by the Christ the King Foundation Board of Trustees on September 12, 1989.]

10. Acknowledgement of gifts to the Foundation:

The Treasurer of the Foundation will send a written acknowledgement to the donor(s) of all gifts received by the Foundation, including the Internal Revenue Service required language for gifts in excess of $250.00.

Version approved by the Christ the King Foundation Board of Trustees
on 01/11/05.

GUIDED BY THE GOSPEL: GATHERING • GROWING • GIVING