Story Magazine - Third Quarter, 2007
Luther Seminary Friend Announces New Challenge
by Andy Behrendt, M.Div. middler
Last financial year, a challenge from Fred Fox doubled the impact of nearly $1 million in donors' gifts to Luther Seminary's Sustaining Fund. This year, Fox is promising even more bang for the buck.
The new challenge from Fox, a friend of Luther Seminary who believes strongly in its mission, is in effect for the 2008 fiscal year that began on July 1.
For donors who gave to the Sustaining Fund in Fiscal Year 2007, a Sustaining Fund gift that is double or more the size of their 2007 gift will be fully matched by Fox. So if a donor who gave $1,000 to the Sustaining Fund in Fiscal Year 2007 gives $2,000 to the fund before June 30, 2008, Fox will respond with a matching $2,000. In all, the impact of the gift for Luther Seminary will quadruple from the previous year.
The new challenge is even more appealing for donors who gave to the Sustaining Fund in the past but didn't give in the 2007 financial year. For those folks, any gift to the Sustaining Fund in Fiscal Year 2008 will merit a double-match from Fox. For example, a $1,000 Sustaining Fund gift from such a returning donor would get $2,000 in matching funds.
Fox will match gifts as large as $50,000 in either bracket.
The Sustaining Fund fuels much of Luther Seminary's operations--from faculty and staff salaries to snow removal--and makes up about a third of the seminary's budget.
"It's obviously vital to the institution," said CloEve Demmer, Director of the Sustaining Fund. "It's crucial for the mission of Luther Seminary and for the church as we prepare strong leaders who can preach the gospel soundly and biblically."
The seminary seeks to raise $4.5 million for the Fund in Fiscal Year 2008.