PTCC and the four Presbyteries of Toronto Conference entered into an Operating Agreement dated October 1, 2010 to establish policies and procedures to govern the operation of PTCC. These include the investment of the assets by PTCC, the payment of the net annual revenue to the Presbyteries, and the payment of capital grants.
Toronto Conference and the former Presbyteries established the New Ministries Development and Leadership Fund in 2016 and entered into an MOU with PTCC to process grant requests and administer the assets transferred to PTCC of approximately $3 million.
In 2018 PTCC entered into an MOU with the former South West Presbytery to process grant requests and administer approximately $1.16 million of the start-up capital of the Urban Forest Ministry Fund.On January 1, 2019 Shining Waters Regional Council became the successor to Toronto Conference, Living Waters Presbytery, Toronto Southeast Presbytery and South West Presbytery. Western Ontario Waterways Regional Council became the successor to Northern Waters Presbytery.
On January 1, 2019 Shining Waters Regional Council became the successor to Toronto Conference, Living Waters Presbytery, Toronto Southeast Presbytery and South West Presbytery. Western Ontario Waterways Regional Council became the successor to Northern Waters Presbytery.
In April 2022 Shining Waters Region and PTCC entered into an MOU to consolidate the Region PTCC Fund, the New Ministries Development & Leadership Fund, and the Urban Forest Ministry Fund) into the Shining Waters Region Fund (2022) with a consolidated capital value of approximately $8.0 million.
PTCC looks forward to the future and playing an active role in the work and mission of Shining Waters and Western Ontario Waterways Regions by making grants of annual earned income and capital.
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Applications for Annual Net Revenue grants and Up to 5% of capital grants from the Shining Waters Region Fund (2022) will be accepted by PTCC, after submission to the Region and approval by the Grant Review Committee and the Regional Executive. |
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Details of the grants available from the Shining Waters Region Fund (2022) and the Terms of Reference may be obtained from Shining Waters Region. |
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Applications for grants from the Western Ontario Waterways Region's PTCC Fund (2010) and the New Ministries Development and Leadership Fund will be accepted by PTCC, after submission to the Region and approval by the Regional Executive. |
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Details of these grants and Terms of Reference may be obtained from Western Ontario Waterways Region. |
If requested by Western Ontario Waterways Region and approved by PTCC:
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PTCC will make "annual grants" of net revenue and capital, |
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PTCC will make capital grants for church development/redevelopment. |
NET ANNUAL REVENUE GRANTS:
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Regional Councils shall be entitled to request grants equal to the expected net financial return earned by their Account during the year, as advised to them by the Treasurer of PTCC. |
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(b) |
Any part of the financial return not requested or withdrawn by a Regional Council may be added to the amount available for grant requests in future years or, at the option of the Regional Council, it may be designated as capital in their Account. |
ANNUAL CAPITAL GRANTS OF UP TO 5% OF THE REGIONAL COUNCIL'S ACCOUNT:
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Annually, each Regional Council shall be entitled to request PTCC for a grant equal to a fixed percent of their capital financial assets. |
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PTCC's consideration of a capital asset grant request may be expected when the annual amount requested is not greater than five percent (5%) of capital in the Regional Council's Account at the beginning of that year. |
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(c) |
Consideration by the PTCC Board requires that proper notice has been given and the intended use of the capital has been approved by the Regional Council executive. |
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(d) |
Three (3) months' notice for a grant request of 5% of capital is required to lessen potential losses in PTCC investments due to early liquidation. |
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These grant requests shall be subject to the capital loss provisions described in Article 3.12 of the Operating Agreement (see Item 3.5 below). |
PROCEDURES:
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PPTCC has established procedures to facilitate a Regional Council to make an application to request a grant from PTCC from their Account for a project such as church development /redevelopment, in excess of the requested 5% capital draw down in Item 3.1 above. |
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(b) |
Church development/redevelopment refers to the work of any congregation or congregations working together to redevelop property or programs to meet the needs of the community they serve. This could include but not be limited to amalgamation, specialized ministries such as youth, seniors, and community ministries, and it may or may not involve property. |
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A church development project grant request shall not exceed ten percent (10%) of the current value of the capital assets in the Regional Council's Account. |
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A church development project request from a Regional Council is limited to one-time financial support from the Account for that project. |
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Consideration by the PTCC Board requires that proper notice has been given and the intended use of the capital has been approved by the Regional Council executive that requested the grant. |
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Six (6) months' notice for a 10% grant request is required to lessen potential losses in PTCC investments due to early liquidation. |
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These grant requests shall be subject to the capital loss provisions described in Article 3.12 of the Operating Agreement (see Item 3.5 below). |
DEFINITIONS OF CHURCH DEVELOPMENT/REDEVELOPMENT:
The definition of Church Development/Redevelopment for grants for capital grant requests of up to 10% of the Regional Council's Account shall be as follows:
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"Church Development/Redevelopment refers to the work of any congregation or congregations working together to develop/redevelop property or programs to meet the needs of the community they serve. This could include, but not be limited to, amalgamation, specialized ministries such as youth, seniors and community ministries, and it may or may not involve property." |
CRITERIA FOR UP TO 10% OF CAPITAL GRANTS
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(a) |
The sum of the annual grant commitments from the Up to 10% and 20% of Capital grant commitments in any year is capped and is not to exceed 30% of the January 1st audited Regional Council Account value, less any prior commitments under each grant category that have been made for payment in that year, as part of a multi-year grant, and |
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The maximum percentage value of 30% may be changed in the future by PTCC depending upon the capital balances in the Regional Council accounts. |
PROCEDURES:
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PTCC has established procedures to facilitate a Regional Council to make an application to request an extraordinary grant for more than ten percent (10%) but not more than twenty percent (20%) of the capital in its Account for a major church development/redevelopment project. |
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An extraordinary grant request shall be part of the ongoing PTCC financial management process, so that PTCC has an opportunity to provide an assessment of the impact that such an extraordinary grant request has on the overall PTCC investments, and for all the Regional Council's accounts. |
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(c) |
Consideration of an extraordinary grant request by the PTCC Board requires that proper notice has been given and the intended use of the capital has been approved by the Regional Council executive. |
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(d) |
Six (6) months' notice is required for an extraordinary grant request in excess of 10% to lessen potential losses in PTCC investments due to early liquidation. |
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(e) |
An extraordinary grant request shall be subject to the capital loss provisions described in Article 3.12 of the Operating Agreement (see Item 3.5 below). |
DEFINITION OF MAJOR CHURCH DEVELOPMENT/REDEVELOPMENT
The definition of Major Church Development/Redevelopment for extraordinary grants for Projects of up to 20% of the Regional Council's Account shall be as follows:
Major Church Development/Redevelopment refers to the work of any congregation or congregations working together to develop or redevelop property to meet the needs of the community they serve and includes major "capital" church development/redevelopment projects or new initiatives in ministry not involving property, such as:
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New church construction of a stand-alone structure, |
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A church incorporated within a new building as part of the mixed use within the building, |
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Redevelopment of an existing church structure or renovation of an existing building to convert it for Church use or, |
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Major new initiatives in Ministry not associated with improvement to or building a Church or other buildings. |
CRITERIA FOR UP TO 20% OF CAPITAL GRANTS
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(a) |
The sum of the annual grant commitments from the Up to 10% and 20% of Capital grant commitments in any year is capped and is not to exceed 30% of the January 1st audited Regional Council Account value, less any prior commitments under each grant category that have been made for payment in that year, as part of a multi-year grant, and |
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(b) |
The maximum percentage value of 30% may be changed in the future by PTCC depending upon the capital balances in the Regional Council accounts. |
All expenses related to Regional Council approved PTCC Church Development/Redevelopment capital grant requests of up to 10% of the Regional Council's Account and extraordinary grant requests for major Church Development/Redevelopment Projects of up to 20% of the Regional Council's Account, are eligible for PTCC grants in these grant categories.
Notwithstanding the three (3) months' notice provision and the six (6) months' notice provisions, any capital loss arising from the execution of a grant request(s) by a Regional Council that would negatively affect income of the other Accounts shall be the financial responsibility of the requesting Regional Council, and the amount of any capital loss would be deducted from their grant and credited as a capital addition and prorated to the other Accounts.
A Regional Council will be responsible for making its financial projections sufficiently in advance for PTCC to have funds available to meet the Regional Council's grant requests in accordance with the Operating Agreement. Timing of grant requests for grants from PTCC shall be:
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(a) |
Grant requests for Net Annual Revenue grants and up to 5% of capital grants may be made throughout the year. |
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(b) |
Grant requests for up to 10% of capital or an extraordinary grant request of up to 20% of capital shall be made no later than September 30 of the year prior to which the Regional Council is requesting the draw down, and the first draw shall not be available until six (6) months after the approval of the grant request by the Board of PTCC. |
The PTCC Board will apply the following principles and guidelines when reviewing grant applications from the Regional Councils for church development/redevelopment projects:
PRINCIPLES:
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Church development/redevelopment projects require a partnership between the Regional Council, the Congregation, and possibly other stakeholders. |
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Church development/redevelopment projects require a strong sense of stewardship and financial understanding within the Regional Council and the Congregation and a desire to undertake financial responsibilities in a clear and transparent manner. |
GUIDELINES:
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Regional Councils and Congregations shall ascertain the need for the Church Development/Redevelopment project and its viability through the development of a sound business plan before the project begins. |
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Church development/redevelopment projects in this category may or may not involve property. |
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Church development/redevelopment should occur in conjunction with Congregational renewal and a clear sense of mission. |
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Ministerial staff should be in place within a Congregation for the duration of each church development/ redevelopment project. |