Statement on Alberta-British Columbia District Church Extension Fund
WINNIPEG – The ABC District has announced that, as a result of its Church Extension Fund (CEF) activities, it faces a funding shortfall which will affect the operations of the District and its ability to accept deposits and honour withdrawals from its CEF.
In response, Lutheran Church–Canada (LCC) said it is deeply concerned over the situation. “We are keeping in our prayers all who are affected and those who are dealing with the challenges ahead,” said Rev. Dr. Robert Bugbee, president of Lutheran Church–Canada.
The ABC District is one of three separately incorporated districts which subscribe to Lutheran Church–Canada’s confession of faith. Each district is governed by its own Board of Directors. The districts have established their own Church Extension Funds to support capital projects within their own areas of the country.
Dr. Bugbee also noted that LCC’s Board of Directors is prepared to act quickly to adjust its national budget in response to any impairment to funding, should it occur. “We also want to encourage the districts to constantly review the aims, objectives and investment policies of their Church Extension Funds.”
Commenting that the funding issue is isolated to the ABC District and its CEF, the president observed that “over the years District Church Extension Funds have maintained a stellar reputation providing LCC member congregations with the financial resources they need to facilitate the proclamation of the Gospel.”
LCC was incorporated by an Act of Parliament and creates an ecclesiastical bond among more than 300 member congregations who subscribe to the confession of faith established by LCC. LCC also provides a means by which congregations can act together to finance national and international programs.
LCC member congregations also belong to districts which are established in a given geographic area (Alberta, British Columbia; Saskatchewan, Manitoba, Northwest Ontario; and Eastern Canada). “Mission” contributions to finance national and international programs are received by each of the districts, which then make a single contribution to LCC.
“While the ABC District’s situation is troubling and many people will feel its unfortunate effects, we must never lose sight of our mission as a church—telling the world the Good News of God’s love for us in Jesus Christ,” said President Bugbee.
LCC has been advised that the ABC District leadership has scheduled meetings with investors to discuss short-term and long-term options.For more information, please contact the ABC District at 1-888-474-0063 or email@example.com.
UPDATE (January 14, 2015): Lutheran Church–Canada has published a new statement entitled “Frequently Asked Questions of LCC on ABC CEF Situation.”
UPDATE (January 16, 2015): The Canadian Lutheran has published a summary of information on the current financial situation taking place in the ABC District. It is derived from news reports, official statements, and other communications. It is supplemented with new comments from LCC President Robert Bugbee.
UPDATE (January 27, 2015): Lutheran Church–Canada has published a statement addressing concerns that LCC’s Pension Plan is affected by the ABC District financial situation. It is not.
UPDATE (January 28, 2015): The Canadian Lutheran has published an update on the ABC District situation, following news that the District filed for and received CCAA protection. As before, this summary is derived from news reports, official statements, and other communications.
UPDATE (February 9, 2015): Lutheran Church–Canada President Robert Bugbee has issued a pastoral letter on the ABC District situation to all congregations, pastors, and deacons in LCC.