Current Resources

Alfred and Lorraine Pace Fund
This fund may be used for the acquisition of New Church sites and for ministerial support with a limit of three successive years for the same project. The balance as of 12/31/05 was $409,402 with a 6% distribution available annually. This would yield approximately $24,000 of support each year without reducing the corpus.

New Church Site Fund (Frontiers of Faith, 1990)
This fund may be used for the acquisition of New Church sites. The balance as of 12/31/05 was $289,494. This is a grant fund.

Conference Real Estate Fund (Battan Hospital Sale, 1988)
This fund may be used for the acquisition of New Church sites. The balance as of 12/31/05 was $522,037. This is a loan fund.

Revolving Loan Fund
This fund may be used for capital improvement projects. This is a loan fund with the following repayment policy: The term of the loan is ten years with no payment or interest during the first 5 years. The last 5 years are amortized at 3 less than prime or 5 whichever is higher. A $1,000 "practice payment  is encouraged during the first 5 years. The balance available for a loan varies. Balance as of May 2004 was $162,000.

Equitable Compensation Apportionment Line Item
"The CEC shall receive recommendations from the Bishop and Cabinet for the compensation package for pastors to be assigned to establish a new church. The CEC will determine whether funds are available for the ensuing five years. This support is considered a special ministry and is not limited to basic support levels….
…The CEC will pay 100% of the pastor’s compensation package recommended by the Bishop and the Cabinet beginning at the time of the appointment for the remainder of the initial year and for once calendar year thereafter. (100% funding will be for a maximum period of 19 months) 80% will be paid for the second year, 60% for the third year, 40% for the fourth year, and 10% for the 5th year of the initial compensation set at the time of the appointment. In cases of special need, these percentages may be adjusted to add one year to the total funding formula."