REPORT DELIVERED BY PASTOR NATE
Godsend Task Force Report > Pastor Nate provided the Godsend Task Force update. It was noted that this process needs to be carefully made and based on our mission statement. A recommendation will be ready for both investment and disbursement in approximately May 2018. The funds are sitting in a Mission Investment Fund (MIF) at a rate of approximately 1% based on secured/low-risk funds.
A PROPOSAL FOR BETTER STEWARDSHIP OF THE FUNDS DURING THE INTERIM
Congregation member Bill McHugh suggested that the group investigate moving the $3M into a higher yielding account based on the current market.
A motion was made by Bill McHugh and seconded by Christine Linthacum to research in next 30 days for a better investment return for the windfall funds in order to be better stewards.
Bill McHugh made an amendment to the motion to allow for 30 days to report options to Council and then Council to make a final decision. This amendment was seconded by Anne Hess.
Questions were asked regarding the timeline and a suggestion was made to divide the funds for better rate of return. Jim Wilczak summarized the ambitious goal, noted that it would be about $25k and would have higher risk and added that the May 2018 goal is too soon and should be made in January 2019 at next year’s annual meeting. Katie Hoffman asked the Task Force how and why the decision was made to park the current funds in the original account. Pastor Nate responded to say that the decision was made by Executive Council on the account. Janet Chance called to vote. Christine Linthacum asked a question before the vote was made. Amended vote: 33 in favor, 32 voted against. Amendment passed.
Vote for the Task Force to investigate other investment options in interim within 30 days to present to Council for an increase in return: 26 voted in favor. 38 voted against. Motion did not carry.
A motion was made by Clay Baron and seconded by Colleen Sullivan to change the name to the Zion Godsend Task Force. Motion was carried by majority vote. 4 voted against.
A SECOND MOTION FOR REINVESTMENT
A motion was made by Christine Linthacum to have Council look at other investment opportunities to increase the return over 1% in the 60 days. The motion was seconded by Mike Hugill. The motion was carried by majority vote. 3 voted against.
Listening Station Questions
Task Force Mission
Our role is to do the research and community consensus gathering around the best, long-term, sustainable use of fund from the sale of the, former Zion property.
Task Force Members
Office hours Tuesday & Wednesday 10am-3pm or by appointment.
Please call before coming by.