That the Council of General Synod adopt the following policy for the administration of the determining grants from the Ministry Investment Fund.
The Ministry Investment Fund (MIF) was established in 2008 by the Financial Management and Development Committee (FMDC) to limit the funding of operational deficits with unrestricted bequests to the National Church.
Starting in 2009, a portion of such bequests are transferred in the year received to Internally Designated Funds (60% in 2009, 70% in 2010, 80% in 2011, 90% thereafter).
The purposes for MIF expenditures and criteria for grant applications from MIF follow:
General Synod management may apply for grants from MIF to provide funds for initiatives that ensure the ongoing mission and ministry of the Anglican Church of Canada in accordance with the mandate given by General Synod, Council of the General Synod, and /or Vision 2019. The MIF is restricted to the following three initiatives:
- 1. To provide seed funding of up to $50,000 for new programme initiatives mandated by General Synod and/or the Council of General Synod – the Case for Support must include a provision for ongoing funding
- 2. To provide funding for up to $50,000 per year and $100,000 in aggregate for single purpose time-limited projects mandated by General Synod and/or the Council of General Synod, and for which no other funding sources are available
- 3. To provide funding for up to $100,000 per year and $250,000 in aggregate for specific initiatives during this transition that are in accord with Vision 2019.
And with the following conditions:
- The maximum aggregate funding in any fiscal year will not exceed $250,000, subject to the following limitation.
- The balance in the Fund may not fall below $2mm.
- Applications may include up to 10% of the total grant to pay for administration costs (i.e. on a grant application of $10,000, up to $1,000 of the grant may be used for administration).
Applications for funding will be approved by a group consisting of the Primate, Prolocutor and the General Secretary, in consultation with the Treasurer.
The criteria will be reviewed in 3 years by the Financial Management Committee reporting to Council of General Synod.
ADOPTED BY CONSENSUS #19-11-10
[*The Minutes of the November 2010 Council of General Synod meeting will not be OFFICIAL until they have been adopted at the Spring 2011 meeting.]