Foundation Day

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ICCEC Foundation Day

What we Do

Each year on the Sunday closest to the consecration of our first Bishop, Archbishop Adler (26 June, 1992) we collect an offering. This offering was originally made to present Archbishop Adler with funds to help him in his ministry, instead he said that the best use of this money was to provide grants and loans to our churches that were building and expanding their churches.

This year, on 26 June, we ask each person to contribute $10 per person in their family to the Founders Day Fund. This money is then distributed in thirds. One third is given out in loans, one third is given out in low interest loans (currently 3%), and one third in invested for the future. Click on the above Tabs to see the details.

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Donations

Thank you for making a gift to the Foundation Day ministry. If you are mailing a donation, please send to ICCEC, 50 Saint Thomas Place, Malverne, NY 11565-1438, checks made out to ICCEC, with a note or memo line that says it is for Foundation day. Your generosity and faithfulness will help us proclaim the Gospel to all peoples of the world. May God bless you as you give.

 

Foundation Day

 

Foundation Day Offering Amount
2016 (as of today) $ 21,236.00
2015 $ 20,667.00
2014 $ 23,813.77
2013 $ 44,070.53
2012 $ 33,890.52
2011 $ 33,218.73
2010 $ 36,064.99
2009 $ 35,102.35
2008 $ 27,174.37

* 2014 Donations are North America Only, 2014 Offerings from Europe, South America and Asia are kept in country of origin.

Fiscal Summary

Each Year 1/3 of the funds are invested for the future. The funds have been invested conservatively and there have been no loss of principle since 2008, when the fund began active management. The fund had purchased share of Center Pointe Bank in 2007, at $10 a share at the IPO. These shares suffered from the subsequent bank down turn. While the bank stock has suffered, the bank has grown, so the stock has been held until the initial investment is met or exceeded. See stock chart below.

 

The cash in the fund is held in two Vanguard no load funds. The first Vanguard Short-Term Federal Fund Admiral Shares (VSGDX) keeps the bulk invested and ensures maintenance of a workable principle. This is a bond fund and produces income and growth primarily through dividends, no growth in price. The remaining cash and all new invested funds are invested in the Vanguard 500 Index Fund (VFINX). This funds fluctuates more, but allows for a greater growth potential.

 

Funds will continue to be invested for the foreseeable future.

 

Foundation Day Fiscal Summary
Total Given Grants Loans Cash Invested Investment Value
2016 Available
  $13,000.49 $21,720.66 $ 98,775.80 $219,434.00*
           
2016 Distributions
         
2016 Donations to date
$ 21,236.00 $7,078.67 $7,078.67 $ 7,078.67  
2016 Loan Re-Payments
    $4,400.00    
           
         

* Does include CENP Bank Stocks

Recent Foundation Day Projects

2015

Grant, Church of the Resurrection, Kansas $17,600

Grant, Church of the Resurrection, $3,825.31 (2014)

Grant, Saint Pauls Church, Nevada, $12,000

Loan, Saint Pauls Church, Nevada, $13,000

 

2013

Loan: Church of the Good Shepherd, MD (Inner City Mission) $25,000

Loan: Holy Apostles Church, MD $17,000

 

 

 

 

 

 

 

 

 

 

Grant: Church of the Resurrection, Kansas $3,925.31

Grant: Church of the Good Shepherd, Maryland (Inner City Mission) $5,000.00

Grant: Saint John the Beloved, Philippines $2,2250.00

Grant: Holy Apostles, MD $25,000.00

 

 

 

 

 

2012

Loan: Saint Luke's, GA (Paid in Full)

 

 

 

 

 

 

 

 

2011

Grant: Holy Trinity, PA $17,500 $17,500.00

 

 

Grant: Cathedral Church of the King, KS $15,000.00

 

 

 

 

 

 

2010

Grant: Holy Trinity, PA $17,500 $17,500.00

 

 

Grant: Cathedral Church of the King, KS $15,000.00

 

 

 

 

 

Older

Here photos of Churches help with Foundation Grants and Loans in the Past.

 

Grant: Holy Trinity, ID $10,000.00

Grant: Christ the King, AL $1,000.00

Grant: Church of Resurrection, NC $6,000.00