The Christian Church Foundation ended 2016 in the strongest financial position in its 56-year history with total assets hitting a record $654.8 million, President Gary Kidwell reports.
Donors provided $4.7 million in new gifts, including $3.9 million that went into endowment funds that distribute income annually to Disciples causes. The Foundation now manages $171.3 million in permanent and donor-advised funds.
“What endures forever is the legacy and the vision of people who loved the church enough to provide these gifts,” Kidwell said. “Congregations, regions, general ministries and other Disciples-related witnesses are able to further expand their witness to the world because of these resources.”
In 2016, $8 million was distributed from endowment funds and other gifts to Christian Church ministries and other charities chosen by the donor. Disciples Mission Fund, the church’s general funding system, received $1 million, representing more than 10% of all gifts to DMF in 2016.
The Foundation manages more than 1,500 named endowment funds. “It is an honor for the Foundation to be entrusted with these legacy gifts and to stand in donors’ shoes in perpetuity,” Kidwell added.
Congregations and other church-related institutions look to the Foundation to receive help promoting and faithfully stewarding their endowment assets. Congregations, regions, general ministries and other related institutions deposited $25.3 million into their investment accounts in 2016. Partner ministries use the income from their accounts to support their unique programs and vision.
The Foundation delivered strong investment returns in 2016, providing growth both to endowment funds and partner investment accounts.
Permanent fund income and other gifts that were distributed to Disciples ministries and other charitable causes, according to donors’ instructions, in 2016 are as follows:
- $2.7 million to general ministries and other recognized organizations
- $1.9 million to Disciples congregations
- $1.5 million to regions
- $1.0 million to Disciples Mission Fund
- $0.6 million to higher education institutions affiliated with the Christian Church (Disciples of Christ)
- $0.3 million to other donor-directed charities.
The Foundation's 2106 audited financials can be found here.