The Foundation was conceived in the 1960s, when the Church received a gift of common stock in memory of long-time member William H. Kruse.  Mr. Kruse’s son, William A. (Bill) Kruse, an accountant and a member of the Church, led discussions with Church leaders regarding optimal ways for churches to manage their financial resources.  The concept of Grace Lutheran Foundation emerged from those discussions.

The Foundation was incorporated on January 31, 1968, with the late William D. Carter, the president of a local bank, as its first president.

As it was being created, the Foundation was presented with the opportunity to purchase the property immediately north of the Church.  It elected to do so, and converted it into a much-needed parking lot for the Church and a source of income for the Foundation, by renting week-day parking spaces. The parking lot is still owned and operated by the Foundation.

Over the years, the Foundation has acquired and sold other properties in the neighborhood.  It currently owns two houses on 12th street, which it rents to students at the University of Colorado.  It also maintains a portfolio of stocks and other liquid investments.  It has no debt.

From its resources, the Foundation provides an annual grant to the Church amounting to roughly 30% of the Church’s annual budget.  It matches gifts from Church members to charities designated by the Church Council through its Partners in Ministry Program.  It provides scholarships to recent high school graduates who are Church members and to others preparing for church vocations.  It honors Church leaders through the presentation of its By Grace Award, and maintains a Wall of Remembrance, recognizing Church members who have been memorialized by contributions to the Foundation.

Grace Lutheran Church was founded in 1937, and has occupied its present location at 13th and Euclid since 1948.  Over the years, it has had a close relationship with the University of Colorado, hosting and nurturing Lutheran Campus Ministry activities, in particular.  It was also instrumental in founding three other congregations in Boulder and Boulder County.  Today, the Church provides a strong Lutheran witness on University Hill, with traditional, liturgical worship services and a strong music program.  It frequently hosts musical performances in its sanctuary, and makes its fellowship hall available to local organizations.