The ELCA Mission Investment Fund Serves Moravians and Lutherans
In the July/August 2008 issue of The Moravian, and article entitled “The Bilateral Agreement Has Benefits for You and Your Church,” introduced a brand new concept of working hand-in-hand with our full communion partners, the ELCA. Recently, the Rev. Mark A. Wimmer, MBA, the Northern Province area representative of the Mission Investment Fund of the ELCA sat down and answered a few questions about how the program works and how Moravians can make the partnership with the ELCA further their ministries. This new territory is an exciting advancement for everyone involved and truly shows how two denominations, working together, can make things happen.
What exactly is the ELCA Mission Investment Fund?The Mission Investment Fund (MIF) is a financial ministry of the Evangelical Lutheran Church in America (ELCA) that helps to build Christ’s church. Its purpose is to provide investment opportunities to ELCA congregations, their members, and other ELCA-related ministries. With the invested monies, the Fund provides loans to new mission congregations and established congregations and related ministries for capital projects. The Fund offers a practical, profound way for individuals and congregations to share God’s love as they increase their financial resources.
What kind of projects does the Fund specialize in supporting?
The primary function of the fund is to provide financing for new mission congregations for purchases of land and construction of first church buildings. In most cases these young congregations do not qualify for loans from commercial sources.
The Fund also provides loans to established congregations and ministries for capital projects — for renovation, refinancing, relocation, or new buildings. In addition to assisting congregations, MIF also provides loans to organizations related to the church, such as outdoor ministries, seminaries, and social ministry organizations.
The Fund also makes loans for capital projects to ministries of the ELCA’s full-communion partners, such as the Moravian Church.
How did the Mission Investment Fund get started?
The Mission Investment Fund began in 1988 when the ELCA came into existence. Predecessor Lutheran church bodies have operated church extension funds since the early 1900s.
This is a program of the ELCA. How did it become available to Moravians?
A few interested people in the Moravian Church inquired about the availability of loans from the fund. As full communion partners, the ELCA and the Moravian church have many ways to participate in and support each other’s ministries. However, making financial resources available from the Fund was a new concept, but one certainly in keeping with the full communion accords.
What were the hurdles in establishing this for Moravians as well as the ELCA?
Moravian leaders were interested in loan and investment opportunities, which the fund was interested in providing. Certain governing documents were modified by the Fund and approved by several ELCA decision making bodies. Both denominations agreed to proceed.
Who qualifies for a loan?
Any ministry of our respective denominations — congregations as well as organizations related to the church — may apply for a loan from the fund for capital projects.
Wouldn’t it be just as easy to get a loan from a regular agency such as a bank?
Depending on location and relationships, a loan from a local bank might make sense. In some circumstances, lenders do not have experience with lending to congregations. Young mission congregations frequently cannot obtain loans from financial institutions. The Fund understands the financial needs of congregations and other ministries and can easily tailor loans to the specific needs of churches and church-related ministries.
Are Moravians already taking advantage of the Fund?
The Moravian Church Northern Province (MCNP) has received a loan from the ELCA. The monies were used for the purchase of a property next to the MCNP’s office in Bethlehem, Pennsylvania. The MCNP has also recently become an investor in the fund.
How do you start the ball rolling to take part in Mission Investment Fund?
Members of Moravian churches who are interested in investing in the fund are encouraged to visit
How does this relationship benefit both Moravians and the ELCA?
The creation of new mission starts and the support of established congregations is a major component of both denominations’ call. This relationship provides for the extension of Christ’s kingdom through the two denominations.
This program is investment driven. Who can invest and why should they consider investing?
Anyone who is a member of a Moravian Church congregation, is employed by one of its ministries, or is affiliated with such a ministry may invest in the fund. Investors earn interest on their investments, which the fund uses to make loans to build, renovate, or extend ministries in the United States. The fund helps investors fulfill a simple, powerful idea: Grow your church, while you also help grow your financial portfolio.
How is this working relationship an extension of cooperative ecumenical history?
This relationship furthers the cooperation that the two denominations have enjoyed for years. In this instance, the Fund is providing financial resources for capital projects that directly benefit a congregation’s members and its neighbors.
Where do you see the possibilities of this new level of cooperation?
In the shorter term, Moravian churches will have another option available to them for financing capital projects. In the longer term, this cooperative relationship could make possible joint ventures between the ELCA and the Moravian Church, including developing or redeveloping mission fields with shared resources.
