wfn.org | Disciples financial units strengthen partnership

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

Date: December 31, 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-68

	INDIANAPOLIS (DNS) -- Church Extension and the Christian
Church Foundation are strengthening their partnership as
general ministry financial units of the Christian Church
(Disciples of Christ). A key principle in the expanded
partnership is to help congregations formulate and execute
investment strategies.  

	"Church entities have two main types of money - money
needed in the short term, to pay expenses and pay for
capital projects, and long-term money, such as endowment
funds," said Brad Herndon, CFA, Foundation vice president
and chief financial officer. "Our common goal is to make
sure we steer congregations in the right direction with
their investing." 

	"For example, a congregation should not invest money for a
capital project with the Foundation because of the risk
involved and the short-term nature. It should be invested
in Church Extension's investment notes," Herndon said. "On
the other hand, a congregation's endowment fund should be
invested at the Foundation for the long term in hopes of
attaining a higher return."

	Staff members from both general units have been trained to
ask congregational leaders the right questions when
fielding investment inquiries. 

	The two units' own investment decisions give evidence of
their growing partnership. The Foundation's Board of
Directors in October approved investing an additional $4
million with Church Extension, bringing the total of
investment to $5 million. The $4 million will be added to
the fixed income allocation of the Foundation's investment
portfolio.

	Church Extension directors in November approved investment
of $6 million of their unit's permanent funds with the
Foundation. 

	"We are thrilled about the willingness to expand our
partnership with the Foundation in tangible, identifiable
and visible ways," said the Rev. James L. Powell, Church
Extension president. "These latest financial actions are
further examples of our commitment to a lasting
partnership."

	The Rev. James P. Johnson, Foundation president, said the
Foundation is pleased to add Church Extension investments
to its fixed-income portfolio. "We understand the request
for loans from Church Extension remains strong, and we hope
our investment with them will in turn help new churches and
existing congregations facing building needs." 

	The Christian Church Foundation helps Disciples make a
difference through the sharing of their accumulated
resources and helping Disciples congregations be good
stewards of assets entrusted to them. 

	Church Extension is one of the largest Protestant planning
and financial agencies, assisting Disciples congregations
and organizations in all phases of capital expansion and
improvement. Church Extension's mission is to provide
resources that channel the Great Commission into physical
form - including facilities and new congregations. Services
offered by Church Extension include investment
opportunities, lending, consulting and fund-raising
leadership.

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