Laatsch Gift to Sustain CSP’s Lutheran Identity

Concordia University, St. Paul (CSP) is pleased to announce a $10 million gift from Rev. Jim and Karen Laatsch to sustain the University’s Christ-centered Lutheran identity. Representing the largest single philanthropic gift in CSP’s history, this gift establishes The Rev. James F. “Jim” (JC ’61) and Karen R. Laatsch Endowment for the Department of Theology and Ministry and funds two faculty chairs: The Edwin F. and Esther L. Laatsch Endowed Chair in Old Testament Theology and The Robert L. and Ruth F. Eckerman Endowed Chair in New Testament Theology.

“This transformational gift demonstrates Jim and Karen’s tremendous love and deep gratitude for Jesus and His church, ensures a sustainable source of funds for Concordia St. Paul to accent its Christ-centered Lutheran identity, and underscores the critical nature of philanthropy for CSP,” says the Rev. Dr. Brian Friedrich, president of CSP. 

Along with funding two vital faculty positions, the Laatsch’s gift will benefit the ongoing operations of CSP’s Department of Theology & Ministry. “We are incredibly grateful for Jim’s and Karen’s gift,” says Associate Vice President of Faith & Ministry Rev. Dr. Mark Koschmann. “Our students will benefit greatly from an ongoing immersion into theology and how it connects with each of their individual lives and callings.”

The Laatsch’s gift is the result of their faithful, lifelong Christian stewardship and desire to use their resources to benefit the church and its proclamation of the Gospel of Jesus Christ. In fact, the seeds of their gift may be traced all the way back to Jim’s childhood experiences.

Enduring Stewardship

Jim grew up on a farm in the unincorporated community of Caroline, Wis., about 45 miles northwest of Green Bay. One of eight children, he described his family as “poor,” sharing that they had no telephone, refrigerator, bicycle, baseball glove, or TV when he was growing up.

When it came time to attend college, Jim first attended Concordia Teachers College (now Concordia University Chicago) in River Forest, Ill. before transferring to Concordia St. Paul to complete his associate of arts degree. It was during that first year Jim decided that, at some point in his life, he would donate $1,000,000 to the church in thankfulness for his Christian education. “I wanted to do something extraordinary for the cause of Jesus Christ in addition to being a teacher or a pastor,” he says. “We completed the $1,000,000 goal in 2002.”

Karen grew up in a middle class family in Queens Village, New York, a dynamic and diverse urban community. She left the city to attend Carleton College in Northfield, Minn., but it was back in New York where she met Jim, who was a summer intern at her congregation. They were married on September 2, 1966, just before Jim started his fourth year at Concordia Seminary, St. Louis.

After graduating from seminary, Jim’s first two pastoral calls were to congregations in Wray and Johnstown, Colo. Early in their marriage, Jim and Karen dedicated themselves to tithing from their income and focusing on faithful stewardship, including living off one income while saving and investing from the other.  

“Joy is a response to God and God’s gifts to me at a very deep level.”

While serving in Colorado, they built a home and did some of the labor themselves to save money. They also invested in two rental properties, taking advantage of zero-down Federal Housing Administration home loans.

When they moved to Wisconsin, they sold all three properties and used the proceeds from their real estate sales to begin investing in the stock market, staying with it despite the inevitable ups and downs. “We did get into the market at an ideal time by God’s grace,” Jim says. “The Dow was at 770 in August of 1982.”

To ensure they stewarded their investments wisely, Jim earned his securities sales licenses and educated himself on how to effectively invest. “The stock market does not guarantee any rate of return but for the past 100 years investments have doubled every seven years on average if one invests wisely,” Jim explains. “I recommend every investor read the little book The Elements of Investing by Malkiel and Ellis. Investing requires about one hour of your time per month.”

Jim and Karen continue their careful tithing, investing, and saving to this day. Since retirement, the Laatsches have given at least 50% of their annual taxable income for the work of the church. “I would encourage everyone to take that first small step [of stewardship] and see where God will lead them,” Karen says. “It’s an exciting journey.”

Giving with Joy

It might strike some as counterintuitive that giving to the church and living frugal lives leads to personal satisfaction. “My bias is that there is no evidence—scientific or otherwise—that having more things makes you happier,” says Jim. “Having more things makes lots of people less happy.”

After Jim retired from pastoral ministry, he wanted to research what scholars and researchers were learning and publishing about happiness. His original goal was to write a book based on this research, but as he shares, “My writing may show that I am a preacher, not a scientist.”

In reading hundreds of books and journal articles by secular researchers, Jim found that many of their findings aligned well with a biblical view of happiness and joy. “An important corollary for most of these writers is that things that money can buy do not significantly increase our degree of happiness,” he says. 

Jim notes a shift in societal views toward happiness after the Industrial Revolution. “Until 200 years ago happiness was doing good as the Bible teaches,” he observes. “Most people today believe happiness is feeling good.” 

By focusing on stewardship and generosity and not simply trying to buy more things, Jim and Karen have found more life satisfaction and, with it, abiding joy. “Giving to CSP may not make me laugh more but laughter does not indicate that one has more happiness,” Jim observes. “I think [happiness] is doing more good for [God’s] Kingdom.”

“It’s the way that I use the things God has blessed me with that brings joy, not the ‘saving’ of those things,” Karen remarks. “Joy is a response to God and God’s gifts to me at a very deep level.”

Investing in CSP

Through their philanthropic support, Jim and Karen are committed to ensuring that Concordia St. Paul remains a Christ-centered Lutheran university that serves students for generations to come. “I had a great experience at CSP,” Jim says. “My feeling is if CSP can do that for a poor, shy kid in the pre-pastoral program, they have education figured out pretty well.”

Karen has been passionate about urban ministry since her childhood in New York City, and remarks that as she’s learned more about CSP, she sees a number of appealing qualities, including “CSP’s determination to live and teach from a Lutheran faith perspective, [a] very desirable location close to a metropolitan area, [and the University’s] efforts to reach out to and attract students from diverse cultures and backgrounds.” 

This transformative gift from Jim and Karen is a blended gift. They have already begun funding their endowment with qualified charitable distributions from their IRAs and will complete their gift through a combination of continued cash gifts and estate gifts.

Blended gifts are a tremendous option for donors looking to make a transformative impact. “For many donors, their most significant gift will be made through their estate,” explains Vice President of University Advancement Mark Hill. “However, by giving a portion during our lifetime from assets such as stocks, mutual funds, gifts from IRA accounts, and grants from donor-advised funds, we can experience the joy of giving and witness the immediate impact of our gift while celebrating the creation of a lasting legacy.”

Donors may choose to designate their blended gift however they wish. For Jim and Karen, establishing this new endowment ensures they can make an impact far beyond their lifetime. “I tend to think in the long term when making a significant gift,” Karen shares. “I like the idea of a gift that keeps on giving.”

Encouraging Others

Jim thinks many average wage earners like him and Karen aspire to make similar financial contributions to the church and to society. He believes that, with the “proper attitude and proper knowledge,” some may be able to achieve this goal. “[B]ut you won’t know if you can do it unless you try it.”

With disciplined tithing, saving, and investing, Jim and Karen encourage others to follow in their footsteps. “It requires handling money differently than most people do,” Jim explains. “We did it because our God is a loving God. You have this loving God also.”

Wisely stewarding the financial resources with which God has blessed them has allowed the Laatsches to bless Concordia St. Paul, other Concordias, their congregations, and other ministries and nonprofits. They’ve also had the opportunity to travel extensively throughout the world, enjoying God’s creation and people, including five weeks on a dig in Israel with the Rev. Dr. Mark Schuler, Emeritus Professor of Theology at CSP. In addition, they have hiked the Grand Canyon three times, been to 44 of the 50 state highpoints, traveled extensively throughout Europe and Asia, and have season tickets to the Madison Symphony Orchestra. Since 2015, Jim has completed a full marathon and Karen has completed a half marathon in all 50 states.

Throughout their life together, Jim and Karen have enjoyed God’s rich blessings, including their family. “Our three children, their spouses and six grandchildren have been a great source of joy to us,” Jim says. As they live with gratitude, Jim and Karen seek to bless others. This transformative gift to Concordia St. Paul continues their lifelong pursuit of using God’s gifts wisely. “While many think we are generous, God always was most generous to us,” Jim concludes.

Jim’s Key Takeaways About Giving

• St. Paul writes that all Christians should prioritize their income, giving generously to the causes of Jesus Christ. The luxuries which we enjoy would not have been in his personal budget.
• Up until about 200 years ago, people generally believed that happiness is doing good, not feeling good. If you feel good while doing good, you are doubly blessed.
• We genetically inherit much of what we believe and value, such as level of happiness, interest in religion, or political leanings
• In every society in the world, there are nearly the same percentages of people who are very happy, average happy, and very unhappy, regardless of living conditions.
• A significant percentage of people in the developed world believe that every dollar given to charity deprives them of a dollar worth of happiness. A smaller percentage have minds which genetically know that more wealth and material possessions do not raise their level of happiness.
• Some people who want to give generously to charity cannot because they earn low wages or have unusual expenses.
• Who you marry is the most important factor in determining whether you will give much to charity.
• Our goal is to show how and why many more young people earning average incomes can work hard at becoming major givers to the church and to charity.
• In total, probably 5% of households can do what we are doing, but you won’t know if you can do it unless you try it.