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TREASURER’S REPORT

TREASURER’S REPORT. The Evangelical Covenant Church. Evangelical Covenant Church. National Covenant Properties. Paul Carlson Partnership. Covenant Pension Plan. Bethany Benefit Service. Covenant Trust Company. Covenant World Relief. 2005 $1,303,000 2006 $1,315,000 2007 $1,267,000

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TREASURER’S REPORT

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  1. TREASURER’S REPORT
  2. TheEvangelical Covenant Church EvangelicalCovenantChurch NationalCovenantProperties Paul Carlson Partnership CovenantPension Plan Bethany BenefitService Covenant TrustCompany
  3. Covenant World Relief 2005 $1,303,000 2006 $1,315,000 2007 $1,267,000 2008 $1,558,000 2009 $1,016,000 Total $6,459,000
  4. Paul Carlson Partnership 2005 $ 884,000 2006 $1,253,000 2007 $1,186,000 2008 $ 794,000 2009 $ 630,000 Total $4,747,000
  5. Haiti Earthquake Relief $1,049,000
  6. CO FOWM KB PCP MISSION & MINISTRY BUDGET STMs SPE PMs CWR MPs Covenant World Relief Paul Carlson Partnership Project Missionaries Short-term Missionaries Friends of World Mission Kingdom Builders Sustaining Pastoral Excellence Covenant Orientation Mission Projects BaseBudget
  7. Budget Results Expenses Cuts Mix of Revenues Net +$99,000
  8. Bethany Benefit Service Vision Vision New Benefits Vision Group Life at $100,000 Enrollment 3% increase 37 new enrollees
  9. Medical InsurancePremium Increase Comparable market premium increases Cost $avings Bethany premium increases
  10. 1996-2008Pension Benefit Enhancement Total Value$40 Million
  11. Pension Benefits ($ in thousands)
  12. Key Investment Considerations 1992 2009 Asset allocation and diversification—improve risk/return relationship
  13. Assets of Pension Fund ($ in millions)
  14. AssetsNational Covenant Properties ($ in millions)
  15. The Loan Sourcefor Covenant Churches Of the churches that have loans, over 80% have loans with NCP
  16. 2009 New Church LoansNational Covenant Properties In 2009, National Covenant Properties advanced $21,000,000 in new monies to help fund 50 church projects.
  17. Assets under ManagementCovenant Trust Company ($ in millions)
  18. 2009 ResultsCovenant Trust Company New business $11.6 million Distributions $11.6 million % New business to conferences, churches, 41.6%and camps Assets $399.6 million
  19. AUDIT REPORT
  20. TREASURER’S REPORT
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