History
History - 53 Years of Growth
The Bethlehem Lutheran Church Foundation was formed in 1957, as a separate non-profit corporation, to create a facility for the giving of endowments and permanent memorials. Bethlehem's president of the congregation at that time, John Werness, guided the incorporation of the Foundation along with O.I. Hertsgaard (President of the Foundation), C.M. Jorgenson (Vice President), E.B. L. Eckberg (Secretary), Rudolph H. Anderson (Treasurer), Newell N. Nelson, Sr., N.K Neprud, Harry A. Arne, Bob Thompson and Bill Howard.
The original investment and granting policies remain intact:
- Make safe investments that will generate maximum cash income;
- Grants are to be made from the interest and dividend income only, never invading the principal of the Foundation assets.
Since 1957, the Foundation has grown to $1.6 million in assets. Over that same time horizon, more than $1.2 million in grants have been issued.
