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| Preaching the Word Reaching the World |
Wyldewood Ministry Development Fund
Information and Investment Policy
The Wyldewood (WMDF) was established to provide a vehicle for donors to support the ministries of Wyldewood Baptist Church through planned giving, endowments, grants, investments, etc. It is an integral ministry of Wyldewood Baptist Church and its purpose, leadership, and accountability are provided for in the establishment policy approved by the church on November 29, 2000. Investments and distribution are guided by this policy, which was approved by a vote of the congregation of Wyldewood Baptist Church on January 24, 2001.
There are two main areas of the Wyldewood Ministry Development Fund; Permanent Funds and Designated Funds.
These are gifts that are permanently invested with the revenue used (as specified by the donor) to support the following ministries:
Donors to the Permanent Fund may choose to direct their gifts through either of the following options. (If the gift is not directed, the WMDF Board will determine placement.)
* The above investments are to be listed in Standard and Poor’s 500 with AA or better ratings by Moody’s Rating Service.
Interest distribution from the Permanent Fund: Revenues from the investment of permanent funds are distributed to the designated ministries on a calendar year basis one year after funds (cash, stocks, etc.) are received and invested by the WMDF. Two-thirds of the revenue generated in the Permanent Fund are used for purposes specified by the donor. The other one-third of the revenue is re-invested in the fund to insure continued growth in the fund, to cover cost of operations and to keep up with inflation. (As the fund grows, the percentage of revenue distributed is expected to increase.)
Gifts given to the Designated Fund are invested for a specific period of time. Both the principle and the interest are distributed to various ministries, usually guided by the wishes of the donor. These funds are invested in shorter-term financial instruments at no risk to principle.
A second use of the Designated Fund is to serve other ministries directly associated with Wyldewood Baptist Church. When it is deemed beneficial for them, these ministries may invest their temporary excess money in a Designated Fund. A written statement delineating the intended term of investment must accompany all money placed in the Designated Fund by another ministry of Wyldewood Baptist Church. This money is returned in full, with all accumulated earnings, to the donor ministry according to this pre-arranged distribution.
Designated Funds will be invested in instruments such as:
Interest distribution from the Designated Fund: Interest derived from these investments is distributed entirely to the donor ministry. Interest will accrue until the term of investment expires. All costs, which are directly attributable to that investment (bank fees, brokerage fees, etc.), will be deducted from the returns. If a request for early withdrawal arises, every effort will be made by the WMDF to accommodate our sister ministry without loss. If penalties cannot be avoided, those costs will be borne by the ministry that is withdrawing their funds prematurely.