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Church Growth Fund
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Buildings for the life of the church

The Church Growth Fund

Get the funding you need

Loans for your church

The CGF offers affordable, competitive interest rates. We are able to structure loans with flexible terms that are compatible and meet the financial needs and conditions of each individual borrower.

Learn about church loans
Invest and support

Saving certificates

As a source of funding for loans, the CGF sells interest bearing investments called savings certificates. See rate sheet.

Learn about savings certificates
Created to support churches and ministry

What is the Church Growth Fund?

The Church Growth Fund (CGF) is a nonprofit corporation that makes affordable-rate loans to current and former RCA churches and related agencies for the purchase, construction, and improvement of buildings and other properties used in their ministries. The CGF has been serving RCA congregations for more than 60 years and functions under the supervision of the RCA General Synod. Income generated by loan interest is used to help fund RCA grants and scholarships.

Learn more about grants the CGF supports

How the CGF works

1

Investors buy savings certificates

Savings certificate investors receive a favorable rate of return and the satisfaction of knowing their money is being used by the CGF to make building loans to RCA churches.
2

The CGF loans to churches

Funds from savings certificates are used by the CGF to make loans to current and former RCA churches at affordable rates and on favorable terms, enabling congregations to have buildings that enhance and expand ministry.
3

The CGF contributes to ministry grants

Interest paid by churches on their loans generates earnings that allows the CGF to make contributions to the RCA for ministry grants.

Sunrise Community Church
Tulare, California

Financials

Statement of Financial Position as of September 30, 2024

ASSETS
Cash and cash equivalents $6,218,344
Investments $28,410,939
Investment in RCA Endowment Fund $795,769
Interest receivable $129,732
Prepaid expenses and other assets $3,183
Loans $44,997,829
Allowance for doubtful loans ($1,100,000)
Total Assets $79,455,796
LIABILITIES
Savings Certificates $24,290,692
Other $354,401
Total Liabilities $24,645,093
NET ASSETS $54,810,703

Statement of Activities and Changes in Net Assets

REVENUE
Loan interest $2,350,122
Investment income $981,120
Interest expense ($896,256)
Net interest income $2,434,986
Other operating income and expenses ($119,002)
Operating expenses ($734,565)
Change in net assets from operations $1,581,419
Change due to non-operating activities $2,591,745
Grants to General Synod Council ($900,000)
Total Change in net assets $3,273,164
Cumulative effect of change in accounting principle $660,000

History

1854: The Church Building Fund is established to help churches construct facilities.
1861: The fund makes its first loan – $400 to First Reformed Protestant Dutch Church (now Central Reformed) in Grand Rapids, Michigan.
1958: General Synod establishes the Reformed Church in America Extension Foundation, Inc. to issue debt securities to raise funds for loans to local churches.
1966: The first series of debt securities (CGF Savings Certificates) for the extension fund mature – $212,900 of the $229,600 in matured funds is reinvested.
1993: General Synod approves the merger of the Church Building Fund and the Extension Fund into a single new entity, the Building and Extension Fund.
1998: The Building and Extension Fund board approves making annual contributions to the denomination to support RCA church multiplication.
1999: The first Building and Extension Fund contribution is made to the denomination for church multiplication in the amount of $200,000.
2007: The Building and Extension Fund adopts a new name – the Church Growth Fund – to better reflect its mission.
2011: The Church Growth Fund reaches $50 million in assets for the first time in its history and contributes a record $414,000 to the RCA for church multiplication and church plant grants.
2014: The Church Growth Fund begins contributing a portion of its earnings to help fund scholarships for youth and young adults to engage in mission experiences.
2018: The Church Growth Fund begins contributing a portion of its earnings, to help flourishing churches that are economically challenged complete building improvements.

Tappan Reformed Church
Tappan, New York

View the CGF annual report

This is not an offer to sell our securities to you and we are not soliciting you to buy our securities. We will offer and sell our securities only in states where authorized. The offering is made solely by our Offering Circular. The purchase of our securities is subject to risks, which are described in our Offering Circular. We do not currently offer securities in all states. See How to Invest for a list of states in which we are authorized to sell our securities.

Not FDIC or SIPC insured • Not a bank account • No RCA guarantee • cgf@rca.org