Old First Will Contribute $2,500 to the “Generations of Service” Capital Campaign

Old First Will Contribute $2,500 to the “Generations of Service” Capital Campaign

OLD FIRST WILL CONTRIBUTE $2,500 TO THE “GENERATIONS OF SERVICE” CAPITAL CAMPAIGN OF THE UNITED CHURCH BOARD OF MINISTERIAL ASSISTANCE

 

                        • Meet financial assistance needs for 14,412 retirees in 2027
                        • 150 new Next Generation Leadership Initiative participants
                        • 1,000 participants in the CREDO wellness program
                        • 240 clergy receive personal financial management training, and 500 assistance with seminary debt reduction

In their May meeting, the Elders agreed that Old First would contribute $2,500 to the $50,000 pledge by the Pennsylvania Southeast Conference on behalf of the member congregations to the $20,000,000 Capital Fund Campaign of the United Church Board of Ministerial Assistance, Inc. (an affiliate of the UCC’s Pension Board).  

The United Church Board of Ministerial Assistance (UCBMA) provides the following support to UCC clergy through:

  • Supplementation of Small Pensions
  • Supplementation of Health Premiums
  • Emergency Grants
  • Christmas “Thank You” Gift checks
  • Ministerial Assistance Monthly Grants to meet reasonable living expenses
  • Scholarships
  • New Church Start benefits

The organization provides programs to support ordained clergy throughout their careers in enhancing their vocational and financial wellbeing.  Our pastor, Rev. Michael Caine, is attending one of these programs this week.

The disbursement of ministerial assistance to retired pastor’s in 2017 in the Pennsylvania Southeast Conference of the UCC was around $60,000 of which $12,000 went to retirees in Philadelphia County.

The UCBMA in its long range planning has determined that there is a significant need to increase the endowment to have sufficient funds to meet future needs based on the following:

  1. An expected 31% increase in retired Pension Boards members in the next 10 years from 10,500 to 14,000 (we anticipate 20% of PSEC clergy retiring in the next 4-5 years)
  2. An increase in part-time and bi-vocational clergy whose financial security in retirement will likely be less stable.
  3. A decline in Our Church’s Wider Mission as a major source of funding for UCBMA (32% decline in the past four years)
  4. The need to equip clergy with the skills needed to lead in a time of great change within congregational life is greater than ever.
  5. The need to address clergy debt – and provide the tools to attain financial wellness is significant given the cost of higher education and the increase in student loan debt.

In making this decision, the Elders recognized the potential needs of older clergy who didn’t have as long in the pension system at a decent salary or always lived in parsonages, or in providing ministry to the marginalized earned little money themselves.  The Elders also recognized that the four (4) in-care students from Old First may also be saddled with debt from student loans. The Elders saw how true it is that many of our PSEC congregations are small (in membership) with bi-vocational pastors (like our own Dave Reppert!).  For these reasons, the Elders overwhelmingly supported a contribution of 5% of the Conference’s pledged amount to this important Campaign.

More information about the Campaign and the use of the endowments funds raised can be found at:  https://www.pbucc.org/index.php/capital-campaign    

The executive summary about the campaign can be viewed here.

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