TLC Endowment Newsletter Winter 2018
Endowment Committee Welcomes New Members
During the past year as several changes of the Endowment Fund committee membership occurred, two things remained the same: the building of a principled foundation, and the ongoing dedication of each member to foster the oversight and growth of the Endowment funds.
We are grateful for the early visionaries, beginning with the Schrecengost family and friends, our strong supporter, Pastor Jim Lindus, and all the contributors to the Endowment Fund. The following reflects the current and retiring members of the 2018 Endowment Committee. 2018 Committee President, Paul Krausman Paul was born in Washington, D. C., but since his dad was in the State Department (USAID), he grew up in Egypt, Libya, Tunisia, and Afghanistan before coming back to the United States for college.
During his high school years in France, Paul met his wife, Carol. Her father was in the USAF and stationed in Greece. In college, Paul majored in wildlife ecology and was a research scientist and professor at Auburn University for 2 years, the University of Arizona for 29 years, and the University of Montana for 8 years. During another overseas period, Paul also taught in India, Morocco, and Portugal. During his varied career, Paul worked in the deserts of the Southwest, North Africa, and Asia, and wilderness areas throughout the West studying deer, elk, bighorn sheep, lions, tigers, bears, elephants, and other large terrestrial mammals. The Krausmans have lived on Whidbey off and on from 2007, becoming permanent residents in 2015. Paul’s goal as chair of the Endowment Committee reflects his worldwide experiences when he says: “I hope to work with the Committee to refine our objectives to generate more funds for the endowment to serve Trinity Lutheran Church, and the local, national, and international community.” 1
New Member, Steve Dalgliesh Steve grew up in Kirkland, Washington, and earned a degree in business at Pacific Lutheran University. He has two daughters and six grandchildren.
After forty years in various business industries, Steve and his wife, Susan, moved to Whidbey Island three years ago. As for becoming members of TLC, Steve explains: “Being lifelong Lutherans, we joined Trinity because of its reputation for being welcoming and a great place of stewardship - and we have not been disappointed.” Steve is looking forward to serving on the Endowment Committee, and we are delighted to have him as a member. Other Members: Rich Bacigalupi, Treasurer Lisa Bjork, Vice Chair, Second Term Julie Humling, Secretary, Second Term Johnna Lee, First Term Bill Watts, First Term
Goodbye and Many Thanks to Ervin Knezek For the past three years, Ervin led the Endowment Committee in revising and clarifying our policies and procedures manual. While all members worked on the task, it was Ervin who pulled everything together and taught us all to use “Dropbox.” Last year, he served ably as Chairperson and continued his support for the financial oversight of Endowment Funds as well as communicating with other TLC committees and members. We will miss him as he transitions to a retirement role, but Ervin definitely deserves a bit of “rest and relaxation.”
Remembering Jim Theel Jim served on the TLC Endowment Committee from 2010 to 2015 and chairperson during 2014. A kind and thoughtful man, Jim led the Committee during a time of significant change in terms of the size and scope of our funds. The challenges of large contributions and a variety of funding types required changes in the Committee’s structure and procedures. As a good listener, Jim always respected everyone’s viewpoint and helped the group to reach consensus on sometimes difficult issues. Probably, Jim is “up there” laughing with the angels, as the Committee members continue his good work.
When the Trinity Lutheran Church Endowment fund was established as the Schrecengost Endowment fund in 1999 the goal was to reach a million dollars and to distribute 5%. Who would have imagined then that the fund would reach over three million dollars in seventeen years and be funding grants to the community and scholarships to the youth in our community! Many people from TLC and the Whidbey Island community have observed the impact the fund has on individuals throughout the island, and world ministries of the ELCA. The donors to our Endowment Fund are building a legacy that will outlast their lifetime.
2017 Endowment Funds Breakdown by Categories: Total funds under management at end of 2017: $3,861,538 • Schrecengost (Endowment Fund): $458,680 Combined balances of ELCA & TLC Regular Fund at LPL These funds are principal assets for generating funds available for
benevolences, as well as scholarships at discretion of the Church Council. • Otey: $1,829,277 Dedicated to generating funds for annual Otey scholarship awards. • Ruby: $1,208,611 Includes new gift from Ruby family of approximately $60,000 in Q4 2017. Dedicated to generating funds for annual Ruby Scholarship awards. • Endowment Discretionary Fund at Trinity: $26,000 This money was on account in the TLC general fund. We allocated these funds to the Church Council in 2017 for the potential purpose of funding pastor discretion needs as approved by the Church Council
Oversight & Distribution Process There are three parts to the process at TLC: three separate committees have a role in the three processes. 1. The Endowment Committee: oversees investments • Receives and accepts donations • Reports monthly on financial changes through a treasurers report • Contacts a qualified outside financial advisor for an annual fiscal review • Determines the amount available for distribution each year. Except when a donation includes specific Continued page 5
Tracking the fund’s growth: 1999 $2,982 The Beginning -Schrecengost Fund Established 2000 $40,126 Fund is off to a great start 2005 $115,226 Growth by donations and investment earnings 2010 $281,355 Donations continue 2013 $399,733 Terry Otey Scholarship Fund established 2014 $2,704,521 Ruby Fund Scholarship established 2015 $2,950,265 Distributed $72,500 for Scholarships 2016 $3,302,168 (as of 9/31/2016) Distributed $80,000 for Scholarships 2017 $3,861,538 Approximately $100,000 distributed for scholarships; $20,000 for benevolences 2
Letters from the Ruby Scholarship Recipients Dear Trinity Family,
Dear TLC Family,
Thank you for the opportunity to share some of my highlights from my second year at college. I am grateful for the scholarship you have provided so that I can further my education at a four year university. God is good.
My second year at Washington State University has been by far the best year. I feel like I am finally starting to find my niche in what I am studying, as well as getting involved in things I really enjoy. I am currently majoring in Zoology with a premedical focus and working towards a minor in neuroscience.
I returned to PLU a couple weeks early to serve as a New Student Orientation Guide. It was a unique experience to be able to lead a group of incoming first year students and be a resource for them during their transition to college.
I love studying medicine and my goal is to one day be in a position to give back to the people who have guided and supported me through my rigorous education.
I have enjoyed my new leadership role on campus as the Public Relations Director for Residence Hall Council. I had the honor of being selected to attend the PACURH (Pacific Affiliate of College and University Residence Halls) Conference. The conference was held at the University of Oregon this year and myself, along with six other PLU representatives, took part in the valuable leadership sessions. The topics ranged from stress management to ethical leadership, all with the outcome of improving the quality of campus life.
The Ruby Scholarship has provided me with endless opportunities to study what I am most passionate about, which I am extremely thankful for. It has really made a difference in the quality of education and training that I am receiving. Aside from my studies, I participate in various things around campus such as the local youth group, and volunteering at the Pullman-Regional Hospital. I am also pursuing a career in surgery and have been given the opportunity to teach an anatomy class a few days per week, while still maintaining a high GPA and a part-time job.
One of my most memorable assignments from this past fall was creating a business venture plan with a group of three other students from my “Introduction to Business in the Global Environment” class. We chose to design a nonprofit called The Parkland Project, with the vision to connect the campus with the surrounding Parkland area in order to better the community as a whole.
I am really enjoying my time over here at WSU and my journey is far from being over, so I thank you friends and family at TLC for supporting me through these unknowingly exciting times in my life! Many thanks,
It was quite the learning experience and I am thankful to have had the opportunity. I now have a deeper appreciation for those who successfully run a business, whether it’s for profit or not.
I learned the importance of communication and working well with others because regardless of my passion for bettering the community, I cannot do it alone.
Marisa Etzell 3
Greetings TLC Family,
required with English strictly prohibited
My Junior Year at Whitman College has been the most gratifying year yet. After a summer internship at Fred Hutchinson Cancer Research Center, I was able to finally dive into my major and enjoy a second and wildly fulfilling semester as a Resident Assistant and Senior Resident in a first-year residence hall. The second semester of my Junior Year will be spent studying tropical ecology and conservation in Monteverde, Costa Rica.
My job as a Senior Resident (SR) and Resident Assistant (RA) was much more engaging, and therefore rewarding, in the fall semester. The ten first-year boys in my charge were completely new to the college environment and looked to me for my mentorship, friendship, and emotional support much more than the previous semester. Much of my free time was taken up by my job, but I genuinely loved the work and plan to apply for a Resident Director position at Whitman when I graduate. This summer I will conduct bee pollination research with a professor at Whitman. I am ecstatic for the opportunity to finally conduct independent research, as well as forge a close relationship with a professor from whom I will learn much. I will spend much of my senior year writing my thesis on this work. I am still in the process of finding my concentration within Biology; but
The academic side of my life at Whitman was rigorous and engaging. I took a course on the diversity of all life, which focused on the phylogenetic relationships between organisms. I adored that class and hope to work as a TA in that lab my senior year.
I have truly rediscovered my love for learning about Biology this last semester, and my next in Costa Rica will only enhance that conviction. I have the Trinity Lutheran Church Endowment Committee and the generous donors of the Ruby Scholarship to thank for that.
Additionally, I took a challenging course in genetics, which exercised a critical thinking part of my brain in a new way. I also took a 300-level course in German where we read crime novels and discussed the concepts of crime and justice entirely in German. This class was especially challenging as I was not used to the level of participation
2018 Endowment Committee Standing L to R: Paul Krausman, chairperson; Rich Bacigalupi, treasurer; Lisa Bjork, vice chairperson; Steve Dalgleish, Johnna Lee. Seated: Bill Watts and Julie Humling, secretary. Pastor Jim Lindus, Advisor, not pictured
stipulations, “The distribution amount will be based on the prior year ending December 31, twelve-quarter rolling average of 4%.” (Committee Procedures Manual revised 3.23.16
• Notifies the Church Council of the amounts available for scholarships and charitable giving at prescribed times during the year. 2. The Scholarship Committee: nominates scholarship recipients • Receives applications for the three areas available: Ruby Fund, Otey Fund, and TLC General Endowment Fund. • Evaluates applications based on the specific criteria required of each endowment area. • Nominates recipients and forwards the list to the Church Council for final approval. 3. TLC Church Council: decides on specific awards • Receives amount available for expenditure for the current year from the Endowment Committee • Notifies the Scholarship Committee of the amount available. • Receives and approves nominations for next year’s scholarship recipients from the Scholarship Committee. • Determines any additional expenditures from the General Endowment Fund for charities at the local, national, and/or global community level.
Terry Otey Scholarships Terry Otey was a Vietnam Veteran and a self-made man. As Terry entered his seventh decade he thought about life and death. He worked hard for all he had, and wanted to give back to the South Whidbey Community. Terry trusted Trinity Lutheran Church. When Terry died in 2013, he left most of his estate to our Endowment. His desire was to help South Whidbey High School graduates further their education. 2017 SWHS Graduates Alec Chinnery Seattle Maritime Academy Kinsey Eager University of Washington Spencer Fee Everett Community College Bayley Gochanour Pacific Lutheran University Chloe Hood Whitman College Katyrose Jordan University of Washington Bethany Justus Whitworth University
Amara Garibyan Whitman College Michael Hastings University of Washington Caitlin Zarifis University of Washington
TLC/Pacific Lutheran University Special Scholarship Bailey Forsyth Pacific Lutheran University
Gladys Irene Rees Scholarships
This gift from John and Teddy Rees is given in loving memory of John’s mother, Gladys. Sandra Lund Olsen North Seattle College
Marion Loomis Scholarship
This gift from Becky Loomis is given in loving memory of her mother Marion. Katherine Mozingo University of Washington
General Fund Scholarships
In addition to the Ruby, Otey, Rees, and Loomis Scholarships, TLC is awarding the following Trinity members General Fund Scholarships.
Higher Education Scholarships:
Jordan Henriot Portland Community College
Ruby Family Scholarship:
This generous anonymous gift from Ruby’s family makes it possible for one Trinity graduating female senior per year to receive a $10,000 scholarship renewable for four years of undergraduate work. What a wonderful legacy! Congratulations to TLC members, Hailey Simchuk, Marisa Etzell, and Emma Lungren, with a special thank you to Ruby’s family.
2nd Year Scholarship Renewals Madeline Barker Cornish College of the Arts
Trevor Turpen Community College Kaj Lund Olsen Berklee School of Music Sophie Nilsen University of Portland 5
Maria Young Cascadia Community College
What Is Your Legacy? Throughout life, most of us strive to make a difference---in our families, our communities, and beyond. Sometimes we think about how that care and effort will extend beyond our lifetimes. One way to make a difference far into the future is to contribute to the TLC Endowment. How will a gift to the TLC Endowment make a difference in the future? Since its inception in 1999, the TLC Endowment has continued to grow in its support for young people through scholarships to Washington community colleges, liberal arts colleges/universities, and to other schools of higher learning throughout the nation. These young people are changed forever through the generosity of donors who make a higher education accessible to them. Nearly $100,000 was given in 2017 alone to 22 high school graduates in our area. Additionally, deserving local, national, and international charities have benefitted from TLC Endowment monies as designated through the TLC Church Council annually. For example, gifts address local community needs such as: hunger (local food banks); mental health services for the young (Compass Health of Whidbey); national disaster relief (ELCA Disaster Relief) and international refugee support. (ELCA Refugee Resettlement)
TLC 2017 Endowment Helps the South Whidbey Community and Beyond Blessed to be a Blessing, the Trinity Lutheran Committee approved a record endowment draw for 2018. $20,000 was made available to be distributed at the discretion of the Church Council. This $20,000 was on top of the nearly $100,000 in scholarships that was provided by the TLC Endowment. The Church Council approved the following grants: $5,000 to Compass Health of Whidbey Island. Compass Health works with the most vulnerable of our neighbors here on the Island. $5,000 to ELCA Disaster Relief—helping to rebuild after natural disasters. $5,000 to ELCA Refugee Resettlement. We are in the midst of the worst refugee crisis since World War II. $5,000 to support an ELCA program for young adults called “Young Adults in Global Mission.” We will sponsor a young person as they spend a year in ministry and service in a global setting. In addition, the Church Council has authorized an additional $1,000 to Ryan’s House and $1,000 each to local food banks in Oak Harbor, Coupeville, and Bayview. We give thanks to our generous donors and we appreciate the good leadership and faithful service of the 2017 Endowment Committee: Chair Ervin Knezek, Julie Humling, Bill Watts, Paul Krausman, Johnna Lee, Lisa Bjork, and Rich Bacigalupi. Blessed to be a Blessing – Indeed! Pastor Jim Lindus
weekly service giving envelopes or online option
... IN THE FUTURE by:
We may not know the needs of the future, but the TLC Endowment will be there to respond.
n Designating a portion of your estate in a bequest
How can you donate to the TLC Endowment?
n Assigning or transferring property such as cash, stocks, bonds, real estate
n You can contribute to the TLC Endowment fund NOW by using the
n Assigning life insurance benefits
n Setting up a charitable gift annuity or a charitable remainder trust 6
n Making memorial gifts given in honor of family or friends.”
Advice from an attorney, and other professional advisors should be sought. To learn about ways to make legacy gifts through your will, contact Trinity’s Endowment Committee, or Beth Adams (855953-4401), Regional Gift Planner for the ELCA Foundation.