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PTCC Grants

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.

PTCC Update of Criteria:
In November 2017, after consultation with the Presbyteries, the PTCC Board updated the criteria for the Up to 10% and Up to 20% of Capital grants. Please see Sections 2, 3 and 4 for the updated criteria and removal of any restrictions on the use of Presbytery approved grants. This update of criteria for these categories of grants is effective November 29, 2017 for grants in 2018 and into the future.

If requested by the Presbyteries and approved by PTCC:

PTCC will make "annual grants" of net revenue and capital, and
PTCC will also make capital grants for church development/redevelopment.

1. Annual Grants of Net Revenue and up to 5% of Capital

Net Annual Revenue Grants

(a) Presbyteries 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.
(b) Any part of the financial return not requested or withdrawn by a Founding Presbytery may be added to the amount available for grant requests in future years or, at the option of the Founding Presbytery, it may be designated as capital in their Account.

Annual Capital Grants of up to 5% of the Presbytery's Account

(a) Annually, each Presbytery shall be entitled to request PTCC for a grant equal to a fixed percent of their capital financial assets.
(b) 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 Presbytery's Account at the beginning of that year.
(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 full court of the Presbytery.
(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.
(e) These grant requests shall be subject to the capital loss provisions described in Article 3.12 of the Operating Agreement (see Item 5 below).

2. Grants for Church Development/Redevelopment Projects of up to 10% of the Presbytery's Account

Procedures

(a) PTCC has established procedures to facilitate a Presbytery 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 1 above.
(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.
(c) A church development project grant request shall not exceed ten percent (10%) of the current value of the capital assets in the Presbytery's Account.
(d) A church development project request from a Presbytery is limited to one-time financial support from the Account for that project.
(e) Consideration by the PTCC Board requires that proper notice has been given and the intended use of the capital has been approved by the full court of the Presbytery that requested the grant.
(f) Six (6) months' notice for a 10% grant request is required to lessen potential losses in PTCC investments due to early liquidation.
(g) These grant requests shall be subject to the capital loss provisions described in Article 3.12 of the Operating Agreement (see Item 5 below).

Definition of Church Development/ Redevelopment

The definition of Church Development/Redevelopment for grants for capital grant requests of up to 10% of the Presbytery's Account shall be as follows:

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

(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 Presbytery 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
(b) The maximum percentage value of 30% may be changed in the future by PTCC depending upon the capital balances in the Presbytery accounts.

3. Extraordinary Grants for Major Church Development/Redevelopment Projects of up to 20% of the Presbytery's Account

Procedures

(a) PTCC has established procedures to facilitate a Presbytery 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.
(b) 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 Presbytery accounts.
(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 full court of the Founding Presbytery.
(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.
(e) An extraordinary grant request shall be subject to the capital loss provisions described in Article 3.12 of the Operating Agreement (see Item 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 Presbytery'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:

New church construction of a stand-alone structure,
A church incorporated within a new building as part of the mixed use within the building,
Redevelopment of an existing church structure or renovation of an existing building to convert it for Church use or,
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

(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 Presbytery 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
(b) The maximum percentage value of 30% may be changed in the future by PTCC depending upon the capital balances in the Presbytery accounts.

4. Eligible Expenses for Church Development/Redevelopment Grants

All expenses related to Presbytery approved PTCC Church Development/Redevelopment capital grant requests of up to 10% of the Presbytery's Account and extraordinary grant requests for major Church Development/Redevelopment Projects of up to 20% of the Presbytery's Account, are eligible for PTCC grants in these grant categories.

5. Article 3.12 of the Operating Agreement: Apportionment of Capital Losses to a Presbytery Account Due to Payment of a Grant Request

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 Presbytery that would negatively affect income of the other Accounts shall be the financial responsibility of the requesting Presbytery, 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.

6. PTCC Requirements for Grant Requests by Presbyteries

A Presbytery will be responsible for making its financial projections sufficiently in advance for PTCC to have funds available to meet the Presbyteries grant requests in accordance with the Operating Agreement. Timing of grant requests for grants from PTCC shall be:

(a) Grant requests for Net Annual Revenue grants and up to 5% of capital grants may be made throughout the year.
(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 Presbytery 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.

7. Principles & Guidelines for Church Development/Redevelopment Projects

The PTCC Board will apply the following principles and guidelines when reviewing grant applications from the Presbyteries for church development/redevelopment projects:

Principles:

1) Church development/redevelopment projects require a partnership between the Presbytery, the Congregation and possibly other stakeholders.
2) Church development/redevelopment projects require a strong sense of stewardship and financial understanding within the Presbytery and the Congregation and a desire to undertake financial responsibilities in a clear and transparent manner.

Guidelines:

1) Presbyteries 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.
2) Church development /redevelopment projects in this category may or may not involve property.
3) Church development/redevelopment should occur in conjunction with Congregational renewal and a clear sense of mission.
4) Ministerial staff should be in place within a Congregation for the duration of each church development/ redevelopment project.

8. Grant Application Forms

(See "Application Forms" section)

9. Recent Grant Approvals by PTCC

(See "News" section)


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