Major Renovations, Major Assets
50% of net income as reported December 31st of the previous calendar year and used for assessment purposes or $200,000 whichever is lesser.
Normally all assets of the amalgamating communities of faith will go to the newly amalgamated community of faith.
After covering any unpaid assessments, community of faith indebtedness and the costs of selling real property, remaining assets will be disbursed as follows:
- 5% to Archives
- 30% to the United Church ministry(ies) of the community of faith’s choosing (provided a registered charity)
- 15% to Indigenous Ministries in response to the Calls to the Church (received GC43) to support Indigenous Ministries and to upgrade Indigenous real property
- 12.5% to current year Mission & Service
- 12.5% to Mission & Service Endowment Fund to provide for the future
- 25% to the Regional Council to enable it to provide ongoing support and resources to Communities of Faith and for new church development.