Hetrick Endowment Fund - This fund was established to fund seminars and training events for ministries of The Church of God in Michigan which will assist them in effective ministry. As of January 1, 1998, eighty percent (80%) of the annual interest income can be used for restricted purposes of the Fund. The Hetrick Endowment Fund totaled $67,087 in 2016 and 2015, respectively. In addition to the endowed funds, the Board has designated $5,977 and $10,971 in 2016 and 2015, respectively, to be used for the same purposes as the Hetrick Endowment funds.
Michigan Mission Outreach Endowment - This fund was established to support new forms of ministry through the funding of such programs as training for lay teachers, pilot programs for family ministries, urban ministry projects, evangelism and outreach programs. The Michigan Mission Outreach Endowment totaled $5,872 in 2016 and 2015, respectively.
Revolving Loan Endowment Fund - This fund is used to make loans available to congregations for building, renovation and other capital improvement projects that will enhance and energize ministry to their community. The Revolving Loan Endowment Fund totaled $225,611 in 2016 and 2015, respectively.
New Works Fellowship Endowment - This endowment was established to assist The Church of God in Michigan with church planting activities. Spending of the endowment fund is limited to ninety percent (90%) of net investment income. For the first ten years of the endowment, spending is restricted to church planting activities within 25 miles of Kalamazoo, Michigan. For years eleven through twenty of the endowment, spending is limited to southwestern Michigan and after twenty years, the earnings may be spent on church planting anywhere in Michigan. The balance of the endowment is $122,962 as of December 31, 2016 and 2015, respectively.
Pastoral Family Enrichment Endowment
Nevitt Endowment - The Nevitt Endowment was established by the former executive secretary to provide grant funds to enrich the family life of ministers of The Church of God in Michigan. The intent is to grow the endowment to $75,000. When the minimum threshold is achieved, spending is limited to eighty percent (80%) of the gain on the investment. The balance of the endowment is $23,201 as of December 31, 2016.
The Pastoral Family Enrichment Endowment Fund is established by an agreement between Gerald and JoRene Nevitt and the General Assembly of the Church of God in Michigan.
The purpose of the Pastoral Family Enrichment Endowment Fund (PFEE) will be to provide grant funds to enrich the family life of ministers of the Church of God in Michigan. Since there is a plan in place to assist Michigan pastors in continuing education, the fund will focus on the needs of pastors’ spouses and children under twenty-one years of age.
The Board of Directors of the Church of God in Michigan will name an endowment fund committee to allocate grants to applicants not to exceed $1000 per applicant in any one year period. The PFEE committee will receive and approve grants in accordance with guideline approved by the Board of Directors.
The Board of Directors will have the power to establish and change guidelines in accordance with the purpose of the fund so that the fund may remain flexible to meet the needs of pastoral families in the future. However, if possible, Gerald and JoRene Nevitt will be consulted and agree to any major changes to the plan and this agreement.
In general, the PFEE may be used when fully funded in the following ways:
• Personal development of a pastor’s spouse • Continuing education of a pastor’s spouse • Degree completion of a pastor’s spouse • Family Development Events involving the entire family (but not to be used for camp meeting attendance or ordinary vacation plans). • Family camp events • Family enrichment conferences (while not duplicating the purpose of the B. Gale Hetrick Memorial Fund).
The Pastoral Family Enrichment Endowment is funded by monies contributed by Gerald and JoRene Nevitt prior to December 31, 2001, and matching monies invested by the Board of Directors for this purpose. The PFEE shall also be funded by a bequest from the Gerald and JoRene Family Trust after the death of both Gerald and JoRene Nevitt.
The funds contributed by Gerald and JoRene Nevitt and matched by the Board of Directors will be held in an investment directed by the Board of Directors until the fund balance shall reach $100,000 or until the $75,000 life insurance benefit is received at the death of Gerald G. Nevitt.
When the minimum threshold is achieved, the Board of Directors will authorize the PFEE committee to allocate up to eighty percent (80%) of the gain on the investment in any one year.
Adopted by Board of Directors Date June 8, 2001
Older Adult Endowment
Purpose of the Endowment
Older Adult Endowment Fund - This endowment was established by a donor. The intent is to spend up to 60% of each year’s earnings on Older Adult Ministries. The remaining 40% of the earnings will be reinvested and permanently restricted. The donor is requiring a $35,000 match from members and church congregations. Once the Fund reaches a minimum balance of $50,000, the 60% of earnings can be spent. Until the Fund reaches the minimum funding level, any earnings accumulated for spending will be held and remain temporarily restricted. The balance of the endowment is $41,469 as of December 31, 2016 and 2015, respectively.
Provide funds for leadership equipping and training events.
Help establish Older Adult Ministries in the local Church of God congregations in Michigan.
Assist churches and individuals with funds to participate in state recognized Older Adult Ministry activities.
A Great Start
An Older Adult Ministry Endowment has been established through the State Office of the Church of God in Michigan by an anonymous donor. The initial contribution is a great start, and combined with contributions from people like you, the endowment will become a great tool for our older adults.
PEAK YOUR INTEREST
Your contribution will be added to the initial donation. Once the endowment has grown through gifts and the accrual of interest to $50,000, 60% of the interest will be used to benefit our seniors. The remaining 40% will be reinvested into the endowment. Only our seniors will be eligible to use any of these funds.
Thank Your Senior
This will only benefit our seniors. If you are a senior and need financial assistance in order to attend functions recognized by the State Office of the Church of God in Michigan, you will be eligible. For everyone who is not a senior, this is your way of helping the “golden” individuals in your congregation. A way for you to say “thank you” seniors for all you have done for me.
A Gift That Keeps On Giving
The greatest thing about this endowment is that it will never go away. Because only the interest will be used to support senior adult activities, the balance will remain intact. This is truly a gift that keeps on giving.
Some Day You Will Be A Senior
Even if you are not a senior yet, the endowment will be there for you when you are and will continue to be there for the next generations. A comforting thought to know that you can help seniors of today, tomorrow, and beyond with your gift right now.
Use the link below to give through PayPal.
Checks make payable to: Church of God in Michigan
4212 Alpha Street, Lansing, Michigan 48910-0711