October 2020
Autumn Newsletter

Total Active Investment Dollars : $68.5 M
Total Active Investments : 972
Total Assets : $73.3 M
Total Active Loans : 156
Total Active Loan Dollars : $59.9 M
Loan Apps Received in Qtr 3: 25
President's Corner
The 75th Anniversary General Conference of the UPCI certainly was different than any of us imagined it would be. The COVID-19 crisis that we are facing as a nation and world has changed all of our lives, General Conference included. We also didn’t get to have our annual appreciation banquet for investors in the Loan Fund as planned. That event has become one of my favorite times of the year as we celebrate what God is doing to help build growing church facilities around the United States.

We are now in our tenth year of operations as a fund. Many have asked how COVID-19 has affected churches making payments on time, or worse, if we have had any defaults. We are thrilled to report we have experienced absolutely no defaults. We have worked with only about ten churches who needed consideration for delaying payments due to reduced income from tithes and offerings. In fact, most of our churches have reported an increase in church giving.
The requests for new church loans are not slowing down either. Clearly there is revival in our churches and growth in attendance, and many churches are needing either new, enlarged, or remodeled facilities. This is indeed a testimony to God’s blessings on the United Pentecostal Church International. We are offering a new special certificate for new investors to try and keep up with our loan demand. It is called the Kingdom Growth Certificate. See our website for full details.

Our annual third-party audit is now complete, and again for the sixth year in a row we had no deficiencies. For those who have any experience with CPAs and audits, you know that this is an incredible achievement. We give our wonderful staff all the credit for their hard work for this to be accomplished. You can request a copy of the audit through our office or view it online here.

As of closing out this quarter we now have $73.3 million in total assets. Thank you for being an investor in the fund and believing in the mission. To God be all the glory!

Stephen M. Drury, President
Investment Options
In these uncertain times, we want to remind our investors that our investments are not directly tied to the stock market! They are invested in our own UPCI churches, and we are working closely with all our congregations to make sure they stay on as solid financial footing as possible. Thank you for your loyalty and investment with us!

>Standard Certificates - Lock in your rate for 1, 3, or 5 years!

>Individual Retirement Accounts - Save for retirement!

>Coverdell Education Savings Accounts - Be ready for college expenses!

>Kingdom Impact Accounts - Flexible month-to-month term!

LOWEST MINIMUM EVER! Now open a Kingdom Impact Account with as little as $25! Simply agree to a $25 monthly ACH until account reaches $250. There's no better time to start putting emergency savings in place, and our Kingdom Impact Account can help!
Church Highlight
LifeChurch in Gilbert, AZ
By: Pastor Terry Baughman

After several moves, two pastors, and twenty-five years in the East Valley of the Phoenix metro area, Abundant Life Church made the acquisition of a rural property in Gilbert, Arizona in 2002. God directed the steps of former Pastor Robert Bibb to position the church in the center of what became one of the fastest growing areas in the country for more than two decades. In 1990, there were just 29,000 residents in the town of Gilbert. By the turn of the millennium the population had swelled to 115,187. Gilbert counted 208,453 residents in the 2010 census and currently the number exceeds a quarter of a million within the town limits. In 2014, Gilbert became the Valley's fourth largest municipality.
The acquired property included a four bedroom ranch house on 1¼ acre of property in Maricopa County on South Greenfield Road. Eventually, they were able to hire a contractor to open up all the rooms of the house for an auditorium. New bathrooms were designed in the area that had been a garage. Only the kitchen remained intact at one end of the house after the renovations were completed. The patio was enclosed to provide a lobby area and a small classroom.
This was the remodeled facility of the church when Terry and Gayla Baughman came to Arizona to assume the pastorate of LifeChurch. As the congregation outgrew the remodeled home church, more chairs were added to provide seating for 125. For one year they held two back-to-back worship sessions on Sunday relieving the congestion. During this time they accelerated payments on the property mortgage and were able to pay off the loan in March of 2013. By the summer, they made arrangements with a nearby charter school to rent their auditorium for the Sunday worship service.
LifeChurch continued to save toward new construction but also considered the purchase of different locations to facilitate church growth. Various options were considered for a larger building on the existing property, but space was so limited an adequate worship center could not be constructed that would also allow sufficient space for parking.
Unexpectedly, the property adjoining the church to the north was listed on the market in March of 2016. It was a one acre parcel with a modular home, small guest quarters, and horse corrals. LifeChurch quickly made an offer and competed with four other bidders to obtain the property. Most of their construction savings went toward the purchase, and additional loans were taken to secure the deal.
In January of 2018, Lead Pastor Terry Baughman challenged the church to “Arise and Build” the long needed new worship center. As they considered some different options for financing they were most comfortable with the UPCI Loan Fund. After making the decision to apply for funding there were still many details to be worked out. Though they were initially approved for a construction loan in 2018, they continued developing the site plan.
The expense to improve the property and prepare for the construction was much more than originally expected. It took thirteen months to work through the process of acquiring the needed permits for the site development and the actual construction. Finally, on the last day of 2019 they received word that the permits had been approved!
Work began immediately on the site and a new updated application was submitted to the UPCI Loan Fund. The process was simplified since the church had previously been approved. More money had been invested by the congregation in the property improvements, and fundraising had put the church in a better position to request the needed funds to complete the project. The loan servicing was professional and personal, and the work continued even throughout the coronavirus pandemic. The projected completion of the project is expected in the first quarter of 2021.
LifeChurch is anchored in a strategic location, just off the Loop 202 and near a busy hub of retail shops, restaurants, banks, hotels, health services, and multi-family housing. The faith community of LifeChurch is positioned for continual growth in reaching out to the East Valley and its 1.5 million residents. Currently there are about 5 million people in the Phoenix metro area making it the 10th largest metropolitan area in the country. There is no limit to the possibilities for growth and evangelism as they prepare for this new phase of ministry in a new larger worship center.

Visit LifeChurch's website or Facebook for more information.
Lender's Report
We ended our fiscal year on June 30th having approved just over $21 million in loans in the last twelve months. That is a record for us by far! Thank you to every investor who helped make it possible for us to provide loans to so many growing churches across the United States!
We have noticed a very interesting trend in the purpose of these loans. For example, we saw a large increase in the number of requests for churches to buy existing church buildings that have closed down, as well as commercial buildings that have been vacated by businesses. 
One pastor, in particular, inquired about a loan to purchase land to build on. After several weeks of conversation, he informed me that a local denominal pastor had just called and offered to sell them their building for 25% of its replacement-cost value! I share this testimony to encourage pastors who are looking to build. Pray and ask God to reveal any buildings in your community that can be purchased at a large discount. God can open doors that you have never considered before! 
The trend continues as I type this report. We ask that you consider investing more in the UPCI Loan Fund to help us provide even more loans for churches that God is opening doors for!
May God bless you, and may God continue to bless the UPCI Loan Fund!

Rick Lovall, Vice President & Senior Loan Officer
Conference Catch Up
Coming Soon - Stewardship Sundays
UPCI Stewardship Group is working on a brand new service for our churches...Stewardship Sundays!

One of our professional representatives will visit your church for a short presentation on all the products and services we offer. (Ministerial Insurance, Loan Fund Financing and Investments, Planned Giving, and more!)

If you are interested in hosting a Stewardship Sunday in 2021, contact us today!
United Pentecostal Church Loan Fund | 636.229.7949 | info@upciloanfund.org | upciloanfund.org