ELCA Grand Canyon Synod Mission 2021 Investment Fund Update
Partnership in faith
The Mission Investment Fund, a financial services ministry of ELCA, provides individuals, congregations and ministries with a solid, stable, and faith-based way to achieve their financial goals.
MIF offers a range of investments for individuals, congregations and ministries. We use these investments to fund construction and renovation loans for congregations and ministries.
The result? Impact investments, with a transformative impact on our communities: Expanded worship spaces… new space for education and youth ministry… essential daycares for working families… industrial-grade kitchens and communion rooms for community meals .
During the year-long pandemic, MIF provided assistance to investors who needed immediate access to their funds and to borrowers who needed flexibility in their loan repayments. We have worked with our ministerial partner, ELCA Federal Credit Union, to provide fast track loans to congregations, ministries and individuals, as well as paycheck protection program loans for congregations and ministries to keep employees on the payroll and continue their activities.
Our capabilities and capabilities have never been stronger. At the end of 2020, the MIF had 883 loans outstanding, for a total amount of $ 596.4 million. Investment obligations totaled $ 543.1 million. With total assets of $ 773.8 million and net assets of $ 218.2 million at the end of 2020, the MIF maintains a capital ratio of 28.20%, positioning the MIF in the first rank of well-capitalized church extension funds.
Our continued unwavering support for ELCA members, congregations and ministries and the many ways you care for a world in need. We are honored and honored to walk alongside you as a trusted partner.
For more information on MIF capabilities, please visit our website, mif.elca.org.