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Showing posts from January, 2015

The Seminary and the ABC District Church Extension Fund (CEF)

In light of recent ABC District Church Extension Fund news, this information may be helpful to our Concordia Lutheran Seminary (CLS) family.

1) Concordia Lutheran Seminary is a corporate entity independent of ABC District, and although we are a seminary of Lutheran Church - Canada, we are not structurally incorporated with ABC District.

2) Concordia Lutheran Seminary owns the property and building at 7040 Ada Blvd NW, and has no current debt against the building.

3)  CLS has endowment money and restricted capital invested in two sources: LCC-FM (the financial Foundation of Lutheran Church-Canada in Winnipeg)  and ABC District Church Extension Fund (CEF).  Roughly 78.5% of our money is with LCC-FM and 21.5% is with ABC CEF.

4) Roughly $898,000 of our assets are invested in ABC CEF. These assets are currently frozen (like all investor assets in the ABC CEF). After the decision is made, whether the short-term or long-term solution is chosen, we lose a significant amount of money.

5) Bec…