The Wellington Association holds the financial proceeds from the sale of church property. These funds enable us to assist with the growth and needs of Baptist Churches in the Wellington Region and to extend the mission of the Church.
Guidelines for the Use of the Association Funds
The first priority is to fund the cost associated in employing a Regional Mission Leader [RML] a Regional Youth Consultant [RYC] and an administrator. Ideally the cost associated with their employment is covered by the annual contributions requested from churches in the area. This has proved insufficient and the costs have been met partly by the interest earned by the funds invested or in some cases, the capital.
In evaluating requests from churches for these funds, consideration will be given to the following factors:
- The nature of the request and whether it is something that falls into the scope of the Association’s mandate – our priority is to invest in the mission of the churches in our region, therefore the funds must be for a mission focused project.
- The amount of funds invested.
- The need to preserve capital if at all possible and use the interest to help churches.
- The history of the requesting church’s commitment to the association’s annual contribution request.
- The degree to which the requesting church itself is funding the initiative relating to the request.
- The effect on the requesting church of other changes to surrounding churches.
Nb: As a way of preserving capital, where funds are made available, consideration will be given as to whether it will be in the form of an interest free loan for a fixed term rather than a grant.
Managing the Investments
Proceeds from property sales will be allocated to various accounts in the following proportions with a record being kept of where the funds have come from. The release of the funds will require the prior approval of the Wellington Association Executive.
There are four categories:
- Church Planting
50% of the proceeds of a property sale. These funds will be used for the purpose of re-planting a new church in or near the same location as the previous church property.
- Church Development and Support
30% of the proceeds of a property sale. These funds will be used to assist churches to employ a pastor for a set period.
- Church Minor Property Needs
5% of the proceeds of a property sale. These funds will be used to respond to requests for small property items up to $5000 in value.
- Association Needs
15% of the proceeds of a property sale. These funds will be used to help fund the operating costs of the Association.
The Executive will ensure the funds are kept in an interest bearing account. After two years, each fund will be reviewed for the purpose of re-investment for a further two years, or where the Executive believes the region will be better served, to re-distribute the funds between the four categories for the purpose of mission.
These guidelines will be reviewed biennially.
If you as a church feel you have a financial need that meets these criteria, feel free to get in touch to discuss and find out more about the application process.