FAQ - Texas Methodist Foundation & Central Texas Methodist Foundation Joining of Resources

February 16, 2012

Frequently Asked Questions - TMF/CTMF Announcement

What is the Texas Methodist Foundation (TMF)?
The Texas Methodist Foundation provides financial and leadership services to United Methodist churches, institutions and individuals within the five geographic conferences of Texas, in addition to the Rio Grande Conference of Texas and New Mexico. As the largest United Methodist foundation in the country, TMF provides resources that strengthen the ability of United Methodist churches, institutions, and individuals to advance Christian ministries.
 
What services are offered by TMF?
The Texas Methodist Foundation offers assistance to United Methodists churches, institutions and individuals through: investments; loans; leadership development; stewardship services; gift planning and endowment services; and grants. For more detailed information on our services, please visit our website at www.tmf-fdn.org or call us at 512-331-9971 or 800-933-5502.
 
What led to the acquisition agreement between TMF and the Central Texas Methodist Foundation (CTMF)?
The Central Texas Methodist Foundation approached the Texas Methodist Foundation about combining resources. After an extensive due-diligence process, TMF determined that assuming the majority of CTMF’s assets and liabilities would be a positive move for both organizations and, more importantly, for the ministries of the Central Texas Conference. The retirement of Patricia Sprayberry-Hall, president of CTMF, also played a factor. The transaction was effective February 16, 2012.
 
What will happen to CTMF?
The Texas Methodist Foundation acquired the majority of assets of the Central Texas Methodist Foundation and a comparable amount of liabilities. Assets and liabilities that were not transferred to TMF are being managed by the Foundation for the Central Texas Conference. If you have an account with CTMF, a letter was sent to you on February 16, 2012, with more information about the transition.  
 
When will this change happen?
The transaction was effective February 16, 2012. The appropriate Central Texas Methodist Foundation accounts were transferred to TMF on the same date, February 16, 2012.
 
 
I am an investor with CTMF. What is happening with my funds?
First and foremost, please know that the terms of your contract(s) with the Central Texas Methodist Foundation will be honored by the Texas Methodist Foundation. You should have been notified by a letter from TMF, mailed on February 16, 2012, about the transfer of CTMF investment funds to TMF. You will receive a subsequent letter from TMF Investor Services confirming your account information. In the interim, if you have any questions or concerns, please contact Sara Beltran at 512-331-9971 or 800-933-5502, or email her at sbeltran@tmf-fdn.org.
 
I have a loan with CTMF. What is happening to my account, and how do I make payments?
As with all accounts transferred from the Central Texas Methodist Foundation to the Texas Methodist Foundation, the terms of CTMF contracts will be honored by TMF. You should have been notified by a letter from TMF, mailed on February 16, 2012, about the transfer of CTMF loans to TMF. You will make your payments to TMF going forward. TMF’s expert loan officers are happy to work with you and provide additional information about your specific account. For account assistance, please contact Carol Nelson at 512-331-9971 or 800-933-5502, or email her at cnelson@tmf-fdn.org.
 
I have a trust account with CTMF. What is happening to my account? If you have a life income account, such as an annuity trust or unitrust, with the Central Texas Methodist Foundation, you should have received a letter from Pat Sprayberry-Hall, mailed on February 16, 2012. This letter included a consent form for you to return to complete the transfer of the management of your account to TMF. Upon receipt of your written consent, the terms and provisions of your trust will continue with TMF as trustee. You will receive a subsequent letter from TMF Charitable Services confirming your account information. In the interim, if you have any questions or concerns, please contact Candy Gross at 512-331-9971 or 800-933-5502, or you may email her at cgross@tmf-fdn.org.
 
I have a Charitable Gift Annuity with CTMF. How will I receive my payments? The Texas Methodist Foundation has assumed the contractual agreement for your Charitable Gift Annuity with CTMF. The Texas Methodist Foundation will be issuing your payments and IRS reporting documents going forward. If you have any questions or concerns, please contact Candy Gross at 512-331-9971, 800-933-5502 or email her at cgross@tmf-fdn.org.
 
When will my statements start coming from TMF?
You will begin receiving statements from the Texas Methodist Foundation on your next billing cycle beginning March 31, 2012.
 
Who should I contact at TMF if I have more questions?
For questions concerning investments, please contact:
Sara Beltran at 512-331-9971, 800-933-5502, or sbeltran@tmf-fdn.org
For questions concerning loans, please contact:
Carol Nelson at 512-331-9971, 800-933-5502, or cnelson@tmf-fdn.org
For questions concerning donor funds and relations, please contact:
Candy Gross at 512-331-9971, 800-933-5502, or cgross@tmf-fdn.org