The Lutheran Church Extension Fund (LCEF) is distributing $1,684,407 of its earnings for the fiscal year ending June 30 with 28 LCEF-member districts and The Lutheran Church-Missouri Synod.
The distribution — which was made available in mid-September — includes $1,378,407 for the districts and $306,000 for LCMS Inc. It is an increase of $982,965, or 140 percent, over last year’s distribution of $701,442.
Last year’s distribution was “half the normal distribution because our results did not meet the criteria as prescribed by the guidelines for a full distribution,” according to Tom Helfrich, LCEF’s senior vice-president and chief financial officer. This year’s amount was a “full distribution,” he added, because of “a combination of stronger net income and a stronger capital position.”
More details about LCEF’s 2011-12 fiscal year financial results will be shared at its annual meeting, Nov. 17 in Orlando, Fla.
LCEF’s mission is to support sharing the Gospel — by helping to fund ministries Synodwide — through investments, loans and other services.
“LCEF is blessed to be part of what I call a ‘circle of partnership’ — a loop that doesn’t begin or end with one, but is a continuous ring of LCMS members that wish to build God’s kingdom,” said LCEF President and CEO Rich Robertson. “Investors help ministries stay strong by providing funds for loans and ministry-enhancing support; the ministries in return remain committed to repaying loans and making funds available to other ministries. All are committed to fulfilling the Great Commission, and we are so grateful to God for giving us this strong bond.”
While district and Synod leaders will decide how best to use the money to support local ministries, Robertson said, “We hope this distribution will enhance our church’s ability to reach more people with His message and serve those in need of salvation.”
LCEF estimates that its district and Synod partnerships and the resulting “circular flow of resources” has enabled it to assist more than 80 percent of LCMS ministries over its 34-year history and, in many instances, more than once.
In fiscal year 2011-12, LCEF welcomed more than 450 new loan customers with new loan activity totaling more than $120 million. LCEF has helped congregations, ministries and schools get the funds they need for building, upgrading and remodeling facilities, and has assisted rostered church workers in securing housing and consolidation loans.
LCEF works with more than 50,000 investors to make the funds available for these loans. Together, these partnerships have resulted in a total asset portfolio of $1.82 billion.
To learn more about LCEF, call 800-843-5233 or visit www.lcef.org.
Posted Oct. 17, 2012