Every year on the Sunday closest to the anniversary of the consecration of our first Bishop, Archbishop Randolph Adler (26 June, 1992) we collect an special offering. While this offering was originally inteded to present Archbishop Adler with funds to help him in his own ministry, Abp. Adler instead insisted that the best use of this money was to provide grants and loans to our churches that were building and expanding their facilities. The money collected in the Foundation Day offering is dispersed in three ways:
1/3 of the donations received go to provide Grants. Any funds not used in a given year are rolled over the the next year.
1/3 of the donation received go to provide Loans, 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.
1/3 of the donations are Invested into and Vanguard S&P index stock fund. These funds have been accumulating for many years, and at the present there are no plans to withdrawal or distribute the funds.
An accounting of all the money that has been received is available on-line by clicking HERE. Traditionally, the suggested donation has been $10 per person in their family. Please prayerfully considering giving to support the long-term development of the Charismatic Episcopal Church through the Foundation Day Offering.