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When the Missionary Society of the Methodist Episcopal Church (MEC) was officially adopted by General Conference in 1820, it received no funding from the denomination.
Interestingly, General Conference 1924 rejected a proposal to create a single denominational agency, feeling that the goals of efficiency and accountability could be sufficiently realized through central financial control without requiring central administrative or programmatic control.
Moreover, the apportionment system did not completely end the process of direct fundraising by agencies, and developments such as The Advance in 1940 created new opportunities for direct, second mile giving by congregations and individuals.
The General Conference first required the General Council on Finance and Administration (GCFA) to make available a “church-wide [property and liability] insurance program” in 1976. (See Par.
907.13, 1976 Book of Discipline.) The need for action in 1976 is most likely represented by one or more of the following concerns:
General Conference revisited the issue of property and liability insurance in 1992, when for the first time, local church boards of trustees were required to do the following:
After 29 years of UMIP, GCFA formed the United Methodist Property and Casualty Trust (UMPACT) in 2005.
In October 2019, AmVenture changed its name to Suracy Insurance Agency, marking the official transition as an independent insurance agency after separating from its former parent company in January 2019.
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General Council on Finance and Administration of The United Methodist Church may also be known as or be related to Gcfa, General Council On Finance and Administration of The United Methodist, General Council on Finance and Administration and General Council on Finance and Administration of The United Methodist Church.