Endowment
The Calvary Lutheran Church Endowment Fund, Rapid City, was established in 1985. In 2017, the funds were moved from Wells Fargo bank to the ELCA Fund Pooled Trust. Oversight is provided by a five-member elected committee made up of Calvary Lutheran Church members. All gifts to the endowment fund are tax deductible. Up to five percent of the fund's value at the end of the calendar year is made available for distribution as accrued interest by the CLC Endowment Committee the following year.
In 2022 the committee established two new funds for endowment donations to provide donation options for donors. These are the Calvary Lutheran Church Endowment Fund held by the Black Hills Area Community Foundation (BHACF) and the Calvary Lutheran Rapid City Endowment Fund held by the South Dakota Community Foundation (SDCF). Similarly, up to five percent of the fund's value (as accrued interest) at the end of the calendar year is available for distribution the following year. Since these fund totals are still relatively small, distributions have not been made from these funds since their inception, allowing these fundsto grow for future use.
Current Endowment Committee Members:
• Peg Seljeskog - Chair (Term expires 2026, eligible for additional term)
• Laura Davies - Secretary/Treasurer (Term expires 2028, eligible for additional term)
• Holli Mitchell, 2nd term (Term expires 2028, eligible for additional term)
• Beth-Anne Ferley (Term expires 2028, eligible for additional term)
• Debra Niemi (Term expires 2028, eligible for additional term)
The Committee is governed by the CLC Endowment Resolution (revised February, 2011) and the Endowment Committee Bylaws (revised November, 2022). Management of the actual funds are handled by the ELCA Endowment Fund, South Dakota Community Foundation, and Black Hills Area Community Foundation. Fund Statements are reviewed during committee meetings.
Endowment Committee has a page on the Calvary website. Along with Calvary program requests, Rapid City not-for-profit organizations dealing with human services are eligible to submit applications for funds via a link in the page. https://www.calvaryrapidcity.org/about-us/endowment
Current available balances of the funds are:
• CLC Endowment Fund held by ELCA Endowment Fund Pooled Trust: $580,622.08 (11/30/2025)
• Black Hills Community Foundation Endowment Fund: $18,696.48 (12/31/25)
• South Dakota Community Foundation Fund: $1353.55 (12/31/2025)
• The Endowment Committee recommends that in 2026, the sum total of the funds available for distribution on December 31, 2025, from the Calvary Lutheran Church Endowment Fund, held by the ELCA Endowment Fund Pooled Trust, be distributed to Calvary Lutheran Church, Rapid City.
Since the final figure of distributable dollars from the ELCA Fund were not available during the committee meeting that determined the CLC distribution decisions, the recommendations for distribution are set by percentage and will be applied based on the year-end dollar value of the fund, as provided by the ELCA Foundation.
These three percentage categories are determined by the 2007 Endowment Fund Resolution, are as follows along with the percentage of 2025 distributable dollars assigned by the Committee to selected programs:
25% to ELCA supported missions
• Lutheran Social Services (LSS) - 12.5%
• Outlaw Ranch - 12.5%
25% Community Outreach in SD
• Church Response - 12.5%
• One Heart Campus - 12.5%
50% Calvary Lutheran Church programs
• Confirmation Program request - 15%
• Pre-School-5th Grade Education request - 15%
•Vacation Bible School Program request - 20%
The Committee continues to recommend that in 2026, no distributions be made from the South Dakota Community Foundation & Black Hills Area Community Foundation funds in order to let them continue to grow for future usage.
The Generosity Forest, located on the Narthex south walls continues to have names of capital and other funds donors. Individuals, couples, or families donating $2000 or more to the endowment fund, any of the capital or remodeling campaigns,special youth programs/fundraising activities, memorials, or anything beyond regular stewardship donations for church operations are eligible for recognition. Please contact the church office to complete a form to be recognized on the Generosity Forest. The form is also on the church website on the Endowment page (lower right).
www.calvaryrapidcity.org/media/Endowment/generosity-wall.pdf
The committee is committed to its duties 2026, encouraging endowment fund growth, reviewing pertinent materials, and keeping its online information and forms up-to-date.
Respectfully presented by the 2025 Endowment Fund Committee: Peg Seljeskog, Beth-Anne Ferley, Holli Mitchell, Laura Davies, Debra Niem
