The Free Methodist Foundation
The Free Methodist Foundation, Inc. is similar to the Genesis Conference Foundation only on a much larger scale and their scope of investing options is much greater. They loan depositors’ money for the improvement and acquisition of real estate also. In addition, they manage the Pension Fund for the Free Methodist Church USA and Free Methodist Church USA designated investments. They also assist with and facilitate estate giving through out the FMCUSA.
The Challenge Loan Fund
“The Challenge Loan Fund” was originally funded using the capital obtained when a church property was sold and closed. The money was to be used to help churches in circumstances where conventional funding was not a possibility. For instance, the Genesis Conference Foundation and the Free Methodist Foundation have criteria and guidelines they must follow when making a loan because they are using depositors money to do so. So they cannot exceed certain loan to value ratios, or income requirements. Whereas, the Challenge Loan Fund does not have those parameters and the BOA and Conference Administration can use those funds to assist churches in any manner they see fit.
The Genesis Conference is happy to assist your church in planning projects. As a reminder, any project that involves indebtedness or exceeds 10% of your operating budget requires Conference approval.
For further information or clarification, please contact Dave Francis, Director of Operational Services.