wfn.org | Church Extension Directors Approve Permanent Funds

["Communication Ministries" <wshuffit@cm.disciples.org>]

Transfer to Christian Church Foundation
Date: November 21, 2001
Disciples News Service
Christian Church (Disciples of Christ)
Contact: Curt Miller
E-mail: cmiller@cm.disciples.org
on the Web: http://www.disciples.org

01a-58

	INDIANAPOLIS (DNS) -- During the November meeting of the board
of Church Extension of Disciples of Christ, directors approved
the investment of $6 million of the general unit's permanent
funds with the Christian Church Foundation. James L. Powell,
president of Church Extension, announced to staff and directors
that the Foundation also invested an additional $4 million with
Church Extension, bringing the Foundation's total amount of
investments to $5 million. According to Powell, "We are thrilled
about the willingness to expand our partnership with the
Foundation in tangible, identifiable and visible ways. In
addition, staff have been working on other ways to enhance the
effectiveness of the two units' work, especially in the area of
investments. These latest financial actions are proof that we
are committed to a lasting partnership."

	Powell added, "Our loan demand remains strong and we must
continue to bring additional investment dollars in to meet the
needs of our congregations throughout North America. This is a
priority to our staff and directors."

	Also during the meeting four new Disciples were elected to
serve three-year terms on the board of directors of Church
Extension. Those named were: Miguel Morales, pastor of Buena
Vista Christian Church, Bayamon, Puerto Rico; Irma Rodriguez,
pastor of Capilla Cristiana Church, Lexington, Ky.; Gaylord Yu,
section manager for Motorola, Inc., Schaumburg, Ill. and J.O.
Williams, Sr., pastor of St. James Church of Christ, Fremont,
N.C. and part-time associate regional minister of the Christian
Church (Disciples of Christ) in North Carolina.

	In addition, Minnie L. Smith, retired claims representative for
the Social Security Administration and past second vice
moderator of the Christian Church (Disciples of Christ),
Hannibal Mo., was re-elected to a three-year term.

	Three retiring directors were presented with certificates of
appreciation. Marty B. Hollcroft, church and community volunteer
from Phoenix, Ariz.; Bob Santiago, assistant vice president of
systems, Smith Barney, Queens Village, N.Y. and Charles D.
Watkins, senior minister of Central Christian Church, Decatur,
Ill., were honored for their many years of service to Church
Extension.

	Linda S. Carlson, a CPA and financial manager from Shawnee,
Kan., and W. Darwin Collins, regional minister of the Christian
Church in Pennsylvania, Pittsburgh, will continue to serve as
chairperson and vice chairperson, respectively, through 2002.

	In other board highlights, directors confirmed $29 million year
to date representing 131 loans to assist Christian Church
(Disciples of Christ) congregations and organizations with
facility construction and building improvements.

	During the past five months, loan requests of $14.3 million
were approved by staff and directors to finance 61 projects for
remodeling, new construction and debt refinancing.

	As of September 30, reports showed loan balances of $111.2
million, while Church Extension's assets stood at $123.4
million. Investments placed with Church Extension, a primary
source of loan funds, totaled more than $99 million.

In other action, directors:

	- approved an operating budget of $12 million for the year 2002;

	-heard a progress report on marketing plans for 2002;

	-received reports showing 221 field visits made to
congregations during the past five months;

	-received a New Church Ministry update showing that 38 new
church starts have been initiated in 2001 comparing to an
average of 11-15 new church starts per year before the November
2000 New Church Summit. In addition, 59 individuals attended the
New Church Planter Training Event representing 15 regions of the
Christian Church (Disciples of Christ). 

	-received a development report showing the accessibility loan
fund achieved its initial goal of $500,000 by reaching $550,000
and nine new charitable gift annuitants were added over the past
five months totaling $112,748.

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