Administrative Cost Reduced, Effective Third Quarter of 2019

7/10/2019
Greetings in the name of Jesus!

It is with great joy that I share good news!  Because of your support and the growth of assets under management, the Board of Directors of the UM Foundation of WPA is pleased to announce a 10 basis point reduction in our administrative cost.  This amount represents a nearly 12 percent decrease in cost for our account holders. 

What does this mean?  For years the Foundation has charged an annual administrative cost of 85 basis points or .85 cents per $100.00 under management.  Beginning with the third quarter of 2019 this annual administrative cost will be 75 basis or .75 cents per $100.00 under management.  For a church or organization with $1,000,000.00 this will mean an additional $1,000.00 per year in its account available for mission and ministry.  Thinking big picture, there will be nearly $100,000.00 additionally in the accounts of churches and organizations each year.

The best news is that this reduction will be automatic with no action needed on your part. 

It is also important to note that while the Foundation is reducing its administrative cost by nearly 12 percent, the services offered to our account holders continue to expand - from online access to account information to our ability to offer ACH deposit.  New educational programs include the laity academy and, coming soon, complete stewardship kits available upon request at no cost!  It is because of your utilization of the Foundation’s Funds management ministry, that all of this is possible. Thank you for your continued support and confidence in the work of the Foundation.
 
Grace, Hope, and Joy!

Rev.  Ed Bailey, Executive Director
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