Finance Report 2009

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Finance Report 2009

  1. 1. TREASURER’S REPORT<br />
  2. 2. EvangelicalCovenantChurch<br />TheEvangelical Covenant Church<br />NationalCovenantProperties<br />Paul<br />Carlson<br />Partnership<br />CovenantPension Plan<br />Bethany<br />BenefitService<br />Covenant TrustCompany<br />
  3. 3. Covenant World Relief<br />2005 $1,303,000<br />2006 $1,315,000<br />2007 $1,267,000<br />2008 $1,558,000<br />2009 $1,016,000<br />Total $6,459,000<br />
  4. 4. Paul Carlson Partnership<br />2005 $ 884,000<br />2006 $1,253,000<br />2007 $1,186,000<br />2008 $ 794,000<br />2009 $ 630,000<br />Total $4,747,000<br />
  5. 5. Haiti Earthquake Relief<br />$1,049,000<br />
  6. 6. CO<br />FOWM<br />KB<br />PCP<br />MISSION & MINISTRY BUDGET<br />STMs<br />SPE<br />PMs<br />CWR<br />MPs<br />Covenant World Relief<br />Paul Carlson Partnership<br />Project Missionaries<br />Short-term Missionaries<br />Friends of World Mission<br />Kingdom Builders<br />Sustaining Pastoral Excellence<br />Covenant Orientation<br />Mission Projects<br />BaseBudget<br />
  7. 7. Budget Results<br /><ul><li>Expenses Cuts
  8. 8. Mix of Revenues
  9. 9. Net +$99,000</li></li></ul><li>Bethany Benefit Service<br /><ul><li>New Benefits
  10. 10. Vision
  11. 11. Group Life at $100,000
  12. 12. Enrollment
  13. 13. 3% increase
  14. 14. 37 new enrollees</li></ul>Vision<br />Vision<br />
  15. 15. Comparable market premium increases<br />Cost $avings<br />Bethany premium increases<br />Medical InsurancePremium Increase<br />
  16. 16. 1996-2008Pension Benefit Enhancement<br />Total Value$40 Million<br />
  17. 17. ($ in thousands)<br />Pension Benefits<br />
  18. 18. Key Investment Considerations<br /><ul><li>Asset allocation and diversification—improve risk/return relationship</li></ul>2009<br />1992<br />
  19. 19. ($ in millions)<br />Assets of Pension Fund<br />
  20. 20. AssetsNational Covenant Properties<br />($ in millions)<br />
  21. 21. The Loan Sourcefor Covenant Churches<br /><ul><li>Of the churches that have loans, over 80% have loans with NCP</li></li></ul><li>2009 New Church LoansNational Covenant Properties<br />In 2009, National Covenant Properties advanced $21,000,000 in new monies to help fund 50 church projects.<br />
  22. 22. Assets under ManagementCovenant Trust Company<br />($ in millions)<br />
  23. 23. 2009 ResultsCovenant Trust Company<br /><ul><li>New business $11.6 million
  24. 24. Distributions $11.6 million
  25. 25. % New business to conferences, churches, 41.6%and camps
  26. 26. Assets $399.6 million</li></li></ul><li>AUDIT REPORT<br />
  27. 27. TREASURER’S REPORT<br />

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