wfn.org | Church foundation offers break to central conferences

[NewsDesk <NewsDesk@UMCOM.ORG>]

Oct. 3, 2002	    News media contact: Joretta Purdue7(202)
546-87227Washington	10-30-71BP{448}
 
NOTE: A photograph of Byrd Bonner is available at
http://umns.umc.org/photos/headshots.html

By United Methodist News Service

The United Methodist Foundation wants to make long-term investment more
attractive to the church's central conferences - or geographic regions - in
developing countries.

The foundation, a not-for-profit organization that raises and manages
endowment funds for official groups in the denomination, has ceased charging
its administrative fees to central conferences in developing countries,
effective Oct. 1. The management fee that is passed on to managers and
consultants will continue.

Executive Director Byrd Bonner said the action was taken by the foundation's
board at its September meeting "to encourage annual conferences in the
central conferences to think long term."

Currently, fees are assessed on a sliding scale, with the larger investments
meriting a smaller percentage cost. Participants in the foundation, which
was established in 1999, include 10 churchwide agencies, five annual
conferences and a seminary. This year, the Liberian United Methodist
Empowerment Foundation became the first central conference organization to
invest in the United Methodist Foundation.

Participants have a choice of investing in an equity fund, a fixed-income
fund or a balanced fund that is a combination of the equity and fixed-income
funds. Within the equity fund, participants may choose among six portfolios.

"The foundation exists for our entire denomination, and we are intentionally
seeking to serve all of United Methodism," Bonner said. The board of
directors has 20 members from across the denomination, including one from a
central conference.

The denomination's General Council on Finance and Administration established
the foundation to raise and manage endowment funds for United Methodist
ministries while encouraging stewardship as a way of life. More information
about the work of the foundation is available by contacting Bonner at 1200
Davis St., Evanston, IL 60201, or at www.umcfoundation.org on the Web.

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United Methodist News Service
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