Foundation Day (or Founders Day)
Each year on the Sunday closest to the consecration of our first Bishop, Archbishop Adler (26 June, 1992) we collect an offering. This offering was originally made to present Archbishop Adler with funds to help him in his ministry, instead he said that the best use of this money was to provide grants and loans to our churches that were building and expanding their churches.
These funds are used to help CEC missions and church build and expand their buildings.
Foundation Day Summary
Each year on the Sunday closest to the consecration of our first Bishop, Archbishop Adler (26 June, 1992) we collect an offering, we ask each person to contribute $10 per person in their family to the Founders Day Fund. This money is then distributed in thirds.
Grants are provided from 1/3 of the donations recevied. Funds not used in a given yera are rolled over the the next year
Loans are provided from 1/3 of the donation received, plus the previous loans that have been paid back. Loans are provided at 3% simple interest, with an initial 3 year grace period, in which no interest or fees incur. Funds not used in a given year, are rolled over to the next year.
The investment comes from 1/3 of the donations received. These funds are invested into and Vanguard S&P index stock fund. These funds have been accumulating for many years, and at the present no plans to withdrawal or distribute the funds.
|Current Funds Available||Grants Available||Loans Available||Invested|
|As of Aug 2017||$ 17,724.19||$ 31,386.74||$ 272,601.67|
Foundation Day History
|Fund Raised by Year||2012||2013||2014||2015||2016||2017(to date)|
|Foundation Day Offering||$ 21,338.83||$31,390.54||$27,364.78||$ 21,945.07||28,126.97||$ 14,171.09|
Past Grants and Loans
Investment Funds are kept in Vanguard Low-Cost Mutual fund that indexes the S&P.
How to Apply
Please download and complete this form, along with your Bishop Endorsement, and mail to 50 Saint Thomas PL, Malverne, NY 11565