Page 16 - WOC Annual Report 2012

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Ministers Retirement
and Healthcare Fund
In 1978, the Council on Development, today the fundraising arm of the
West Ohio Annual
Conference
, was created after a group of visionary leaders saw the necessity of developing a
funding source to meet the needs of retired clergy in the future. Though it became apparent that
the pre-82 clergy retirement shortfall would one day be fully funded, healthcare for retired clergy
and spouses would continue to grow as the cost of healthcare continued to escalate in general.
For over 30 years, the Council on Development has received gifts from various sources to augment
other streams of revenue providing pension income and health benefits, collectively referred to as
The Ministers’ Retirement and Healthcare Fund
, for all of the Conference’s retirees. We are grateful
to the donors who made this a priority in their charitable giving this year.
The December 31, 2010 Consolidated Financial
Statements for the
West Ohio Conference
indicate
the “Post Retirement benefits obligation- healthcare”
liability stood at $71,167,615 following the 12/31/09
amount of $70,172,970. Based on projections of
increased demand and pressure on these benefits
due to the aging of our population and extended life
expectancy, additional resources will be necessary for
years to come. We anticipate this liability will increase
approximately $2 million each year.
The generosity unleashed throughout the
West Ohio Conference
has provided funding
for many ministries. Three areas directly
impacted by West Ohio donors are the
Ministers Retirement and Healthcare Fund,
Clergy Leadership Formation, and the
Wings of the Morning Caravan Campaign.
14
2011 Annual Report
2011 MAJOR AREAS OF FUNDING: MINISTERS RETIREMENT AND HEALTHCARE FUND