Elm Avenue proceeds Fund

Where did these extra funds come from?

Several years ago we sold the office complex we owned across the street on Elm Ave.

The payout was $1,875,000. That money has since accrued some interest so is in the

region of $2 million.

What is it intended for?

The money is not intended for any one thing. The CFO and committee who oversee the

funds strongly feel that it should be for blessing and opportunities that could not

otherwise be met, therefore, one of the things it is NOT intended for is ongoing

operational costs.

What are the parameters for how we decide to invest in something?

A public announcement was made during the March 2021 congregational meeting

inviting congregants to join a committee that would oversee the allocation of funds from

the Elm Ave property sale. The current committee was formed from those congregants

who expressed an interest in being part of the team. The committee established the

following criteria (not all need to be met by every single proposal):

● Identity: We want to support projects that connect to our identity as a community

of faith.

● Mobilizing and Partnership: We want to use this money to connect Grace families

to ministry opportunities in our community and thereby potentially increase their

giving in the community.

● Being the Church: We want to use this money to bless the larger Church in Long

Beach, especially those who have traditionally had less access to financial

resources and have closer connections to those in need.

● Tangible Needs: We want to invest in ways that meet the most basic needs for

people, i.e. housing, jobs, transportation, health, etc.

● Realistic: Giving to projects needs to be done in such a way that does not

drastically increase the administrative burden on Grace staff. Depending on the

agreed upon structure – it may make sense to use some of the $ to pay someone

to help administer it.

Who can present a proposal? How can someone make a proposal?

Anyone can present a proposal to the committee for their consideration. Inquiries can

be made with bbalmer@grcelb.org.

Who decides what proposals to put forward to the congregation?

The committee.

How do we officially pass a proposal?

At a congregational meeting when the sale first went through, it was decided that the

funds couldn’t be used for anything without congregational approval. So proposals are

funneled through the $2 million committee to weigh up alignment, and if approved by

that committee, they are then presented to the Members at a congregational meeting for

vote.