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St. Olaf Foundation
The St. Olaf Foundation was established in 1980 to provide for long range Christian stewardship. The purpose of the foundation is to hold the principal of all monies, securities, and properties that have been given to it, in accordance with the requests or directions of the donor(s), and use the income earned from any interest for various religious, charitable, scientific, literary, and educational purposes.
The management and control of the property and affairs of the foundation shall be vested in the foundation board which is composed of seven elected persons. No funds shall be used for normal budgeted operating expenses of St. Olaf Lutheran Church, or for any capital expenses.
The Board meets twice a year to decide where the monies should be spent. If they receive no requests, the proceeds are given to charities.
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