News from NAUMF & UMDF
The Nashville Area United Methodist Foundation and The United Methodist Development Fund of Tennessee/Kentucky, Inc., are vital ministries of the Memphis and Tennessee Conferences of The United Methodist Church. Dr. Vincent (Vin) Walkup serves as President of the Foundation, and Larry J. Smith, a member of First United Methodist Church in Jackson, is the Chair of the Board of Directors.
The Foundation invests funds, such as endowments, memorials, scholarships, etc., for growth with the interest being used by the church or institution for ministries and mission. Our target is to have 65% of the funds are in various stocks with 35% in bonds and other securities. The purpose is to seek a balanced portfolio for growth to enable and strengthen ministries across the conferences. Our summary report indicates the following are the annualized returns for funds invested with NAUMF:
Past Three Years (annualized): 6.9%
Past Five Years (annualized): 9.5%
Since Inception (12/31/1997; annualized): 11.4%
The United Methodist Development Fund accepts investments from churches, individuals, and ministries of both conferences and loans funds for land, building and renovations to churches and ministries of these two conferences. We have a great opportunity to be in ministry with one another through the Development Fund - United Methodists assisting United Methodists to grow and enhance the ministries of the Gospel.
Currently there are over two hundred, twenty-five (225) active accounts in the Development Fund, including individual accounts, earning 2.40% interest. The Fund has $8,582,185 in participation accounts, which are either invested or loaned to churches and ministries in the conferences. Twenty percent (20%) of the funds are invested as a Reserve Account, since funds are available without penalty upon the request of the depositor.
There are thirty-five (35) active loans with a loan balance of $5,805,538. The current loan rate (as of October 1) is 6.25% fixed for two years.
If you would like to be a part of United Methodists helping United Methodists or to have this ministry to be presented to your lay leadership, Finance Committee, Trustees, and others, contact Vin Walkup at (615) 259-2008 or vwalkup@nashaumf.org.