Transcript Evangelical Lutheran Foundation of Eastern Canada (ELFEC)

Overview
The offer
 Three big questions
 Next steps
 Discussion

The ELFEC offer
We create a managed fund for your
congregation
 You continue to own the assets
 We manage your money
 We pay you income annually
 You have freedom from investment
decisions: “What will we do when the GIC
matures?”

Three big questions
What kind of returns will you get?
 How does it work?
 Is ELFEC a trustworthy partner?

Our lawyer’s fine print
Investment returns are affected by factors
which are out of ELFEC’s control
 ELFEC offers no promises or guarantees of
future investment performance
 Return numbers are offered as a historical
overview only
 Returns are displayed after fees deducted:
1% ELFEC; 0.30% investment manager

Historical returns
Year
2004
Net return
5.8%
2005
2006
2007
7.2%
6.9%
2.5%
2008
2009
2010
2011
-6.8%
10.7%
5.8%
1.3%
2012
2013
15-year average
5.8%
8.3%
5.1%
How a Managed Fund works
Your congregation’s name on fund
 You remain owner of assets
 Possibility of capital transfers back
 Add to principal at any time
 Annual income and reporting
 Minimum size $50,000
 Administration fee 1% annually

A trustworthy partner
ELFEC is a federally incorporated (2006)
charitable foundation registered with the
Canada Revenue Agency
 “To responsibly preserve and manage the
financial resources entrusted to the
Church by past and present generations to
enable investment that provides for the
future mission of the Church.”

ELFEC Portfolio
$1,044,918
Holdings: 2013 Q3
Bonds: 25
$5,766,637
$7,672,099
Equities: 37
Total = $ 14,483,654
ELFEC’s record
Disbursements 2008-2012
Type
Grants
Beneficiary
Eastern Synod
Amount
$3,050,159
Transfers
Income
Total
Congregations, camps, etc.
Partners*
636,652
100,395
$3,787,207
* Beginning in 2009
Investment philosophy

Goals:
– Capital preservation
– Reasonably predictable stream of income
– Capital growth to offset inflation

Constraint:
– Responsible Investment
Current directors
Allan Greve (retired hospital CEO)
 Rev. Dr. Mark Harris (WLS prof)
 Susan Heard (retired bank VP)
 Laurie Kitchen (Chartered Accountant)
 Bill Kuehnbaum (retired prof & union exec)
 Sam Marcuson (retired mining exec)
 Wendell Schlumberger (former inv. analyst)
 Janina Vanderpost (retired pension regulator)

Next steps

Congregation
– Decide on amount
– Review agreements
and provide
comments
– Sign agreement
– Write cheque

ELFEC
– Prepare
agreements for
review
– Respond to
questions
– Make revisions as
necessary
– Sign agreement
– Invest money
Your congregation and ELFEC
in partnership?
Your
congregation’s
picture here
ELFEC would be delighted to welcome
your congregation
as an investment partner
Questions?
Please visit us at www.elfec.ca
Download detailed information