In June 1991, the United Methodist
Foundation of New England (UMFNE) was established by the
former Maine, New Hampshire
and Southern New England Annual Conferences of the United Methodist Church to serve New England
United Methodism by:
-
Assisting U.M.
churches/agencies in the management of their reserve/endowed funds,
-
Assisting United Methodists
in making major gifts to benefit their local churches/agencies,
-
Providing
grants and financial assistance to support local church ministries that
address direct human needs such as children and poverty.
UMFNE's
Articles of Agreement allow it to administer funds entrusted to it by United
Methodist institutions and agencies both within and outside the New England
Annual Conference.
UMFNE is one of
the largest U.M. Foundations in the denomination holding over $65.7 million in
invested assets. We are the trustee for several trusts, gift annuities and a
pooled income fund which total over $1.9 million.
More than 380 churches in the New England Conference have placed their reserve
and endowment funds with the Foundation. We also administer the Foundation
Loan Program which serves the building and/or capital needs of U.M. churches
throughout New England.
State Street Global
Advisors, the top investment management firm worldwide with over $1.4 trillion
in assets under management, is our current investment manager. Charles
Schwab Institutional serves as
custodian for the assets of all UMFNE funds.
Major
Objectives:
-
investments
of reserve/endowment funds
-
endowment
development and planned giving
-
financial
and stewardship education
-
missional
loans and financial assistance
