RESOLVED, that the Executive Council, meeting in Austin, TX, February 11-14, 2005, hereby establishes the Mission Funding Initiative in the Office of the Presiding Bishop, which Initiative shall function in accordance with the Charter attached hereto.
EXPLANATION
By Resolution CIM 009 passed June 14, 2004, the Executive Council established a task force to investigate the formation of a new effort to obtain major gifts. The Standing Commission on Stewardship and Development had expressed the view that such an effort could be successful and could provide strong support for the transformational mission of the Church in new ways, and the Presiding Bishop had expressed his support for such a venture. The task force held several meetings and interviewed a number of other individuals who are engaged in substantial fundraising activities in aid of the Church's mission. By Resolution CIM 014 passed November 4, 2004, the Executive Council continued the work of the task force and sought its final report by the meetings to be held February 11-14, 2005.
The task force has reached the conclusion that such an effort could be successful and could achieve the stated objective.
The task force therefore recommends that the Executive Council pass this resolution and establish the Mission Funding Initiative in the Office of the Presiding Bishop pursuant to the attached Charter.
MISSION FUNDING INITIATIVE
Charter
I. PURPOSE.
The purpose of the Initiative is to work in conjunction with Provinces, Dioceses, congregations and other agencies and components of the Church to secure major gifts from individuals, foundations, corporations, trusts and other entities to further the transformational mission of the Church. Carrying out of this Purpose shall be a direct responsibility of the Presiding Bishop.
II. ORGANIZATION, OPERATION AND OVERSIGHT.
The Initiative shall be organized and operated as the Presiding Bishop shall designate from time to time so as to further its Purpose in the most effective manner. The Presiding Bishop may fix responsibility for operation of the Initiative as he/she sees fit and may assign tasks to existing staff members or may hire additional staff members or engage consultants. Oversight of the work of the Initiative shall reside in the Standing Commission on Stewardship and Development established pursuant to Canon I.1.2(9) and in the Executive Council.
III. FINANCIAL.
A. All financial matters relating to the Initiative shall be under the control and direction of the Financial Officer appointed pursuant to Canon I.4.3(e), subject to the provisions of this Charter. Records of each gift shall be kept showing the name or other identification of the donor, the date the gift was received, and the restrictions if any attached to the gift. All gifts of cash shall promptly be invested pursuant to investment policies of the Domestic and Foreign Missionary Society ("DFMS"). All gifts of securities and other intangible and tangible property shall be promptly converted to cash and then invested in like manner.
B. All gifts collected through the efforts of the Initiative shall be held in three separate accounts (the "Accounts"). One such account shall hold all gifts to which the donor has attached restrictions (the "Restricted Account"); another such account shall initially hold all gifts made jointly to the DFMS and any other entity, such as a Province, Diocese, congregation or agency (the "Shared Account"); another such account shall hold all unrestricted gifts (the "Unrestricted Account"). Each of the Accounts shall be separately audited in conjunction with the annual audit of the accounts of the DFMS, and a separate audit report for the Accounts shall be prepared.
C. The Financial Officer shall report to the Executive Council on the condition of the Accounts at each meeting and shall also make such a report to General Convention at each meeting.
D. Expenses of the initiative shall be absorbed by the Office of the Presiding Bishop in the Budget for the Episcopal Church adopted by the General Convention and the Executive Council from time to time. Such expenses shall not be charged to the Accounts.
IV. DISBURSEMENT OF FUNDS.
A. Funds in the Restricted Account shall be disbursed in compliance with the conditions placed thereon by the donors.
B. Funds in the Shared Account shall be divided between the DFMS and the other entity pursuant to the terms agreed to in each instance. The other entity shall be informed of any restrictions placed on gifts by the donors and shall be responsible for honoring such restrictions. The share of funds designated for the DFMS shall be transferred into the Restricted and Unrestricted Accounts as required by the terms of the gifts.
C. Funds contained in the Unrestricted Account shall be disbursed pursuant to the following:
- Every reasonable effort shall be made to preserve the original principal.
- Income, defined to mean dividends and interest, and appreciation of original principal may be disbursed in accordance with a Mission Plan as described below.
- Appreciation of original principal may be disbursed only upon a finding by Executive Council, adopted on the affirmative vote of two-thirds of the members of Executive Council present and voting at a meeting thereof, that such disbursement is necessary to achieve the goals and objectives set forth in the Mission Plan that cannot reasonably be achieved in a timely manner in any other fashion.
V. MISSION PLAN.
A. The Executive Council shall, when it submits to the General Convention the Budget pursuant to Canon I.4.6(a), also submit a Mission Plan for the same budgetary period. The purpose of the Mission Plan is to show how major gifts are intended to be used to further the transformational mission of the Church.
B. The Mission Plan shall contain the following:
- A Vision Statement to explain the reason for the Mission Plan and to aid in its interpretation.
- A series of goals and objectives.
- A series of detailed plans to carry out the goals and objectives.
C. The General Convention shall give consideration to the Mission Plan thus submitted and shall take such action thereon as it deems appropriate. The Executive Council shall have the authority to disburse the funds contained in the Accounts pursuant to the Mission Plan thus adopted by General Convention and shall also have the authority to make adjustments thereof to reflect changed circumstances.
D. Funds in the Accounts shall not be used to pay expenses normally authorized by the Budget for the Episcopal Church but may be used to augment such expenses so as to meet the goals and objectives in the Mission Plan upon an express finding to that effect by the General Convention or Executive Council, as the case may be.
