2024-04-06T14:28:38-07:00 2023-12-31 990EZ 2023-01-01 411798788 THE CONGREGATIONAL CHURCH FOUNDATION OF DETROIT LAKES CONG 7013611338 PO Box 642 Detroit Lakes MN 56502 Terry McGillivray President 7013611338 2024-04-06 Terry McGillivray 999009999 1 1 11 1 AAL2 2023 2023-04-26 12:10:37Z X X X X 18498 X 4690 0 0 13808 0 0 0 0 0 0 0 0 0 0 0 18498 13088 0 0 0 0 0 0 13088 5410 371610 6181 383201 371610 383201 0 0 0 0 371610 383201 0 0 371610 383201 The Foundation supports charitable and educational efforts or organizations both locally and internationally. Organizations supported include the United Church of Christ humanitarian aid to Ukraine, Heifer International. Local charities supported include the Lake Area Crisis Center (which supports people in crisis), groups active in support of veterans and grants to support the homeless in Detroit Lakes, Minnesota. The Foundation supports youth through scholarship gifts, payment of camping costs for youth and support of the local Backpack program. Supplemental funding is provided to the Congregational Church of Detroit Lakes for local and national mission efforts as well as facility maintenance. Grants for Ukraine relief efforts through United Church of Christ, Heifer Project, Lakes Area Crisis Center and support for training of guide or service dogs for veterans. 7437 0 Support for youth includes ascholarship grants for one high shcool grafuate, camping fees for four youth from the congregation and supoort of the local Backpack program. 3101 0 Funds are provided to the supported church for local and international mission work. Funds are also provide for routine maintenance of the church facility. 2550 0 0 Terry McGillivray President 5 0 0 0 Shar Legenhausen Secretary, Treasurer 2 0 0 0 Lori Nustad Director 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MN Terry McGillivray PO Box 642 Detroit Lakes MN 56502 7013611338 0 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X X X 1 Congretational UCC Church of Detroit Lakes MN 410705753 1 1 2550 0 1 2550 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Schedule A, Part IV, Section B, Line 1 Directors of the Foundation are nominated by the board of directors or by members of the congregation. The nominee is approved by vote by the Church Council, the governing body of the church. The nominee(s) are presented for election at the annual meeting of the congregation. The congregation then approve or reject the nominee(s). Directors are selected to have staggered terms of office, so not all directors are up the election or reelection if a given year. Form 990-EZ, Part I, Line 10 This figure is the total earnings of the mutual funds that comprise the Foundations assets. The earnings are deposited into a cash account held at United Church Funds. The Foundation can transfer funds from this account to a bank account as required. Form 990-EZ, Part I, Line 20 The organization holding the assets of the Foundation use a FIFO accounting method: earnings in the fund are used to purchase shares at the current price, then he same number of shares are sold on a first in, first out basis. Given that share prices have risen through during the life of the Foundation, this results in a higher book value for share purchases with earnings and lower book value for those sold. This purchase/sale exchange resulted in an increase in reported book value of $6181 in 2023. There was no change in the number of mutual fund shares in the accounts.