Introduction
For Christians seeking to align their financial investments with their faith, the Church Growth Investment Fund (CGIF) in Jacksonville, Florida, offers a compelling option. Established in 1991, CGIF is a 501(c)(3) public charity that pools investments to provide loans for church facilities and ministries affiliated with the Florida Baptist Convention. This model allows investors to support the expansion of the Gospel while earning a competitive return on their investments.
1. Overview of the Church Growth Investment Fund
CGIF operates by collecting funds from individual and institutional investors and using these funds to offer first and second mortgage loans to churches and ministries. These loans assist in purchasing property, constructing new facilities, refinancing existing debt, or renovating current structures. The interest paid on these loans is then used to pay interest to investors and is reinvested to further the Kingdom’s work.
Key Statistics
- Established: 1991
- Total Assets: Over $235 million
- Number of Investors: Over 900
- Number of Ministry Partners: Over 1,000
- Interest Paid to Investors in 2024: Over $6 million
- Total Loans Outstanding (as of 12/31/24): Over $138 million
These figures underscore the scale and impact of CGIF’s operations in supporting church growth and ministry development across Florida.
2. Investment Options and Terms
CGIF offers various investment products to cater to different financial goals and preferences:
2.1 Demand Certificates
- Minimum Investment: $1,000 for individuals/families and churches; $3,000 for IRAs
- Current Yield: 3.30%
- Early Redemption Penalty: 120 days of interest on the amount of principal withdrawn
2.2 Time Certificates
- 6-Month Certificate: 4.50% yield
- 1-Year Certificate: 4.70% yield
- 3-Year Certificate: 4.25% yield
- 5-Year Certificate: 4.00% yield
- 7-Year Certificate: 4.00% yield
These time certificates offer fixed interest rates over specified periods, providing investors with predictable returns.
2.3 Flexible Certificates
- Minimum Investment: Over $2,000,000
- Tailored Terms: Customized to meet the specific needs of large institutional investors
Flexible certificates are designed for substantial investments, allowing for more personalized terms and conditions.
3. How Investments Support Ministry
The funds invested in CGIF are utilized to provide loans to churches and ministries for various purposes:
- Purchasing Property: Enabling ministries to acquire land for expansion or new locations.
- Constructing New Facilities: Supporting the building of new worship centers, educational buildings, or community outreach facilities.
- Renovating Existing Facilities: Assisting in updating and improving current structures to better serve congregational and community needs.
- Refinancing Existing Debt: Helping ministries manage and reduce existing financial obligations.
The interest paid on these loans not only provides returns to investors but also fuels further Gospel ministry throughout the state and around the world.
4. Eligibility and Participation
Investing in CGIF is open to individuals and churches affiliated with the Florida Baptist Convention. The process typically involves:
- Reviewing Investment Options: Understanding the different certificates and their terms.
- Completing an Application: Providing necessary personal or organizational information.
- Making an Investment: Transferring funds to CGIF based on the chosen investment option.
For those interested in Individual Retirement Accounts (IRAs), a minimum investment of $3,000 is required.
5. Contact Information
To learn more about CGIF or to begin the investment process, you can contact them directly:
- Address: Church Growth Investment Fund, PO Box 23069, Jacksonville, FL 32241
- Phone: 904-345-3221
- Email: lfreeland@floridabaptist.org
- Website: https://floridabaptist.org/cgif-individuals
6. Conclusion
The Church Growth Investment Fund in Jacksonville, FL, presents a unique opportunity for Christians to invest in the expansion of the Kingdom while earning a competitive return. By aligning financial resources with faith-based initiatives, investors can play a pivotal role in supporting the growth and development of ministries across Florida. Whether you are an individual looking to invest personally or a church seeking to support broader ministry efforts, CGIF offers a platform that combines financial stewardship with Kingdom impact.
