What is the Friends Meeting House Fund?
The Friends Meeting House Fund is a Pennsylvania non-profit corporation set up by FGC to provide a way for Quaker meetings to borrow money to help build, buy or renovate their meeting houses.
How does the Fund Work?
The Friends Meeting House Fund (FMHF) is based on the simple concept of a mortgage pool. Friends and meetings can lend (with interest) a portion of their savings to the FMHF, thereby creating a large pool of money. That money can be lent to meetings for construction, renovation or purchase, with the loans secured by mortgages held by the Friends Meeting House Fund.
The Friends Meeting House Fund also holds small grant funds for improving meeting community spaces and helping meetings become more sustainable and energy efficient.
How is the Fund Managed?
The Friends Meeting House Fund is organized as a Pennsylvania non-profit corporation managed by a ten-member Board of Directors appointed by the Central Committee of Friends General Conference. Represented within its membership is experience with architectural practice, property management, fiscal planning, and real estate lending.
During the almost 60 years that the Fund has been in existence, it has lent or granted over $4,600,000 to more than 200 Quaker meetings in 18 yearly meetings. Inquiries and requests for loans continue to be received from meetings all over North America, indicating healthy growth within the Society of Friends.
Are you interested in: