WELS Foundation receives gift
Filed Under: gift, WELS Foundation
A WELS family that wishes to remain anonymous has made a donation of non-voting, private stock to the WELS Foundation—a separate incorporated entity that manages funds for donors who wish to support some portion of the work of synod, its congregations, or affiliates listed in the WELS Yearbook.
The gift is expected to generate an income of $700,000 in 2008. That income will primarily benefit the congregations and affiliates of the synod. Additionally, $100,000 of the income will go toward the support of WELS' operating budget.
WELS President Mark Schroeder is expressing thanks for the gift. "This is truly a remarkable blessing from God," he says. "We're thankful to him, and we're grateful for the generosity and faith of this family. God continues to bless our synodwide ministry in ways that we could not have imagined."
