Loan Draw Documentation Process Future Advance – (Purchase of Fixed Assets, Renovation, Improvements, Equipment) < $5K, require a Contractor’s Invoice and a Construction Loan Draw Form > or = $5K, require the same as Mechanic Lien Mechanics Lien- Major construction with General Contractors and Sub-contractors (all Draws require title run up) Partial Lien Waiver Interim […]
I read an article by Doug Powe that led me to think, “Is change in the church something that I can do or something that I leave to others to do?” I visit a different church almost every week and when I go in I find myself asking, “Is it okay to sit here!” I […]
Sunday, February 10, 2019, was a special day for Cunningham UMC. “The Gathering Place” was dedicated. The Gathering Place is a new Fellowship Hall for Cunningham and it was used to its fullest on Sunday. The Rev. Dr. Thomas E. Frost is the pastor at Cunningham UMC and Tom led the service and preached a […]
On January 25, the Foundation Board of Directors announced the retirement of Ted Soto from the Foundation and Development Company. Over the past three years, Ted has served the Foundation as Sr. Vice-President of Investing and Development and has assisted the organization during a tremendous period of growth and transition. He will be missed but […]
Often times, many churches, small and large, ask the question: “Should we incorporate” as we continue to serve ministries throughout our local communities? In light of debatable discussions, the advantages as well as disadvantages have been the focal point of church incorporation. As an “unincorporated” entity, the church members are personally liable for the events […]
Welcome to 2019! Have there been changes in leadership at your church that took effect on January 1st? Do you have new members on the Trustees or Council or on the Finance or Endowment Committees? If so, it’s entirely possible that people who used to be Authorized Signers are no longer in positions of leadership. […]
John Wesley frequently spoke about money and its relationship to our lives as followers of Christ. Regarding money, his most famous words to early Methodists were to gain, save, and give all they could. Methodists seem quite content to follow two-thirds of his advice – many like to gain and save, but few like to […]
“Are you a philanthropist?” Most people laugh when I ask that question. “Me? Are you kidding?” they ask. “I’m absolutely serious,” I respond. They then usually give me two reasons why they don’t consider themselves to be philanthropists – they aren’t rich and they aren’t old. “Wrong on both counts!” I roar back. This usually […]
The Tax Cuts and Jobs Act of 2017, with its lower tax rates and higher deductions, has put extra money in worker’s paychecks in 2018. And many taxpayers may realize when they do their taxes next season that they are eligible for even more tax breaks. There is no reason to wait until you get […]
Over the past couple of years, the Virginia United Methodist Development Company (DevCo) has partnered with the United Methodist Development Fund in Texas (UMDF) to serve the needs of churches throughout Virginia. Recently, we worked with the UMDF to participate in 50% of the principal loan to fund a $1.2 million parsonage. This partnership enabled […]