Ascension Church Endowment Guidelines
The Noel and Retha Kimbrough Endowment and the Perry and Elaine Wells Endowment were given to Ascension Church to provide ongoing support to Ascension Church and the Lutheran Foundation of Texas. Now LFOT is known as Legacy Deo. Annual proceeds from the endowments are to be used for the purpose of Christian education, mission and ministry work in the congregation and support of the church at large but shall not be used for normal congregational budgetary expenditures. These monies will be available for current use by our congregation for these purposes.
The Ascension Church Board of Directors has earmarked the annual proceeds from these endowments to be used for 1) church growth and development (25% of the total monies each year) and 2) educational support for Ascension Church members attending a seminary, college, a technical school providing career based training or trade school (75% of the total monies each year).
To qualify, applicants will submit an Initial Application fo Scholarship to the Church Endowment Committee or the Church Office. This application contains the following:
Membership in Ascension Church
Evidence of impending high school graduation or achievement of a GED
Current grade point average
Name of school to be attended and evidence of acceptance at that school
Statement regarding intended use of the monies if awarded
Statement regarding need for financial assistance
Applications must be received by the Church Endowment Team by May 15 of each year and applicants will be notified of scholarship approval. Actual distribution of funds will be made as requested by the applicants and will if at all possible, be made payable to the college or technical school they are attending or will be attending.
Applicants can re-apply each year using the Scholarship Application for Current Students if he/she is a full-time student taking 12 semester hours (or equivalent) each semester. Applicants need to provide the name of the school currently being attended and current grade point average along with intended use of monies awarded.
Recipients of a scholarship must maintain a 2.0 or better GPA. Students who fail to maintain a 2.0 GPA will not be eligible for financial support.
The Church Endowment Team will report the results of all scholarship activities to the Board of Directors.
Scholarships will be available only when funds are available from the proceeds of the above endowment accounts.