CHICAGO, IL (May 18, 2006) – Following is a brief history and the job description for the position of president of National Covenant Properties.<\/p>\n
Brief history<\/strong><\/p>\n The mission of National Covenant Properties is to be THE<\/em> loan source for Evangelical Covenant churches.<\/p>\n National Covenant Properties (NCP) was established in 1970 by the Evangelical Covenant Church (ECC) as an Illinois not-for-profit corporation for the purpose of making loans to member churches and other affiliated entitles of the denomination. NCP is registered as a 501(c)(3) organization.<\/p>\n Assets currently exceed $245 million. The principal source of funds to make loans is the sale of debt securities by NCP to members of, contributors to, participants in, and affiliates of the denomination and its member churches. The debt securities offered are Five-Year Fixed Rate Renewable Certificates, Variable Rate Certificates, Individual Retirement Account (IRA) Certificates, and Health Savings Account (HSA) Certificates. Certificates are sold nationwide under guidelines that apply to the various jurisdictions in which they are offered or sold by NCP.<\/p>\n National Covenant Properties operates under the loan and investment policies established by its board of directors. The board consists of not less than eight and not more than 13 directors, of which the president of NCP is an ex officio director, as is the president of the ECC. The board of directors meets every other month and currently approves every loan and line of credit in excess of $50,000 made by NCP. The corporate members of NCP are those persons who currently serve as elected members of the Executive Board of the ECC.<\/p>\n NCP functions in close partnership with the Department of Church Growth and Evangelism. The director of technical services of that department currently serves as the secretary on the National Covenant Properties Board of Directors. Consultations and coordination between the president of NCP and this ministry arm of the denomination are essential to the overall support provided to local churches and regional conferences, particularly for new Covenant churches.<\/p>\n Responsibilities<\/strong><\/p>\n The president of NCP serves on a full-time basis, overseeing the work of a small staff and bearing overall responsibility for the successful management of this multi-million-dollar corporation. This responsibility includes financial, personnel, and systems management, as well as extensive and effective relationships with borrowers, investors, and board members. The president, a leader within the denomination, is charged with achieving the strategic goals established by the board of directors. The following outlines key aspects of the various functions of the president:<\/p>\n Qualifications<\/strong><\/p>\n The president of NCP is someone who:<\/p>\n\n
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