News
WELS CEF Fiscal Hightlights
Audit results show that WELS Church Extension Fund (CEF) closed the 2007-08 fiscal year with nearly $70 million in member investments. WELS CEF currently has outstanding loans of nearly $125 million with 252 congregations. Total net assest increased slightly to just under $74 million.
“Our financials continue to be very strong and we are thankful for the continued support we receive from WELS members and WELS organizations,” says Jim Buelow, president of WELS Church Extension Fund. “Without their trust and investments we would not be able help support mission congregations.” The Church Extension Fund is a self-supporting, not-for-profit corporate affiliate of WELS. Individuals, congregations, or affiliate organizations may invest with CEF. Those investments allow CEF to provide loans—primarily to mission congregations—so they can purchase land, renovate, or build new worship facilities.
In cooperation with WELS Board for Home Missions, WELS CEF completed loans to 18 WELS totaling nearly $15.5 million during the past fiscal year. In addition, four congregation purchased land to build worship facilities in the future. Three congregatons relocated to existing worship facilities.
The 6,000+ individuals and congregations who have invested in WELS Church Extension Fund receive a copy of the annual offering circular annually. It contains the audited CEF financial report and current investment applications. In addition, each congregation will be sent three copies of the offering circular to distribute to interested members.
How your investment helps build churches
During the 2007-2008 fiscal year WELS Church Extension Fund loaned out more than $15.5 million to 18 WELS congregations so they could purchase land or a worship facility. View a full list of the churches that your investment in WELS CEF helped build.
Get Involved -- Free Bulletin Insert
Your congregation can support mission congregations by investing with WELS CEF. Just print the bulletin insert shown below, make as many copies as you need and help inform others about the opportunity to build their financial future, while they are helping to build churches.
CEF in Mission Connection News
Learn how your investment with WELS CEF helps build mission churches. Below is a list of articles which have appeared in previous issues of Mission Connection. Click on the article title to read more.