This document provides financial summaries for various departments and organizations within the Evangelical Covenant Church from 2005-2009. It summarizes the revenues and expenses for Covenant World Relief, Paul Carlson Partnership, and Haiti earthquake relief. It also provides budget results and overviews of Bethany Benefit Service, the Covenant Pension Plan, National Covenant Properties, Covenant Trust Company, and the audit report.

1. TREASURER’S REPORT

2. EvangelicalCovenantChurchTheEvangelical Covenant ChurchNationalCovenantPropertiesPaulCarlsonPartnershipCovenantPension PlanBethanyBenefitServiceCovenant TrustCompany

3. Covenant World Relief2005 $1,303,0002006 $1,315,0002007 $1,267,0002008 $1,558,0002009 $1,016,000Total $6,459,000

4. Paul Carlson Partnership2005 $ 884,0002006 $1,253,0002007 $1,186,0002008 $ 794,0002009 $ 630,000Total $4,747,000

5. Haiti Earthquake Relief$1,049,000

6. COFOWMKBPCPMISSION & MINISTRY BUDGETSTMsSPEPMsCWRMPsCovenant World ReliefPaul Carlson PartnershipProject MissionariesShort-term MissionariesFriends of World MissionKingdom BuildersSustaining Pastoral ExcellenceCovenant OrientationMission ProjectsBaseBudget

7. Budget ResultsExpenses Cuts

8. Mix of Revenues

9. Net +$99,000Bethany Benefit ServiceNew Benefits

10. Vision

11. Group Life at $100,000

12. Enrollment

13. 3% increase

14. 37 new enrolleesVisionVision

15. Comparable market premium increasesCost $avingsBethany premium increasesMedical InsurancePremium Increase

16. 1996-2008Pension Benefit EnhancementTotal Value$40 Million

17. ($ in thousands)Pension Benefits

18. Key Investment ConsiderationsAsset allocation and diversification—improve risk/return relationship20091992

19. ($ in millions)Assets of Pension Fund

20. AssetsNational Covenant Properties($ in millions)