Over the past year the financial market has experienced great volatility.
The problem began within the mortgage-backed securities market (especially with so-called “sub-prime loans”) that has mushroomed into a full blown credit crisis with large-scale impact on a wide variety of financial institutions, including the failure of major investment banks. Write-offs of losses from mortgage-backed securities held by large financial institutions have risen to a staggering $510 billion. It is not over yet and that these events will affect the financial services industry for years to come.
As unsettling as all this is to everyone, it is important to maintain a long-term perspective. The investment portfolio for the Hawai’i Conference Foundation (HCF) is positioned for sustained growth over a period of years and performance history has indicated this to be true. Growth has consistently out-paced inflation. As gloomy as the events of today may seem, history tells us things will get better.
The HCF Trustees, with the help of an investment monitor consultant, review the progress of our funds to ensure that performance is in line with or better than like funds.
15 Craigside Retirement Residence Sales Progressing
To date, has sold 120 of the 171 studio and one bedroom retirement units available at 15 Craigside Senior Living Community in Nu`uanu. Arcadia expects to break ground in 2009 and the project to be completed in two years. United Church of Christ members have preference in this continuing care retirement community. For more information, visit http://www.15craigside.org.
Hawaii Conference Foundation elections announced:
Rev. David Iha and Mr. William Paris were elected as new Trustees to replace Edwin Fong and Janet Fujioka who completed their terms. Mr. Fred Trotter was also elected as a Trustee by the Hawaii Conference Council.
The following officers were elected by the Board of Trustees:
Chairman Rev. David Hirano
Vice Chair Mr. Russell Kaupu
Secretary Ms. Gloria Ganibi
Treasurer Rev. David Iha
Assistant Treasurer Mr. David Takagi
Rev. Dr. David Hirano is the immediate past Chair of the Hawaii Conference Council. A retired minister, having served in the national setting of the church, Rev. Hirano serves as an interim senior minister and lives in Kailua, Oahu.
Mr. Russell Kaupu is an attorney and part of the management team of the MacNaughton Group, a real estate development firm. Russell previously served as Chair of the Hawaii Conference Foundation for several years and is Chair of the Hawaii Conference Foundation Property Management Committee. He is a member of Kalihi and Moanalua Church.
Ms. Gloria Ganibi is the Lay Associate for Administration at Church of the Crossroads and is a member of Moanalua Community Church of Honolulu.
Rev. David Iha is the Chair of the Admin Missional Team of the Hawaii Conference. Rev. Iha is a member of Lihue Christian Church.
Mr. David Takagi is affiliated with Takagi & Takagi, Royal Alliance Associates and John H. Connors Insurance. He is the Hawai’i agent for the United Church Insurance Board program. David is a member of Church of the Crossroads and he has served in the national setting of the United Church of Christ.
Hawai'i Conference Foundation is ranked number 6 again in Pacific Business News’ List of Foundations & Trusts that do not accept grant proposals.
Our Mission
The mission of the Hawai'i Conference Foundation is to support Conference ministries as a faithful steward of the assets of the Hawai'i Conference.
History of the Hawai'i Conference Foundation
The Hawa'i Conference Foundation was formed in 1968 to be the faithful steward of the property belonging to the Hawai'i Conference United Church of Christ. The Hawai'i Conference Foundation is the investment and property management arm of the Conference. Under the leadership of an 11-member Board of Trustees, the Foundation manages both real property and financial assets for the Conference, its Associations and its 125 churches. The Members of the Foundation consist of its Board of Trustees and the Board of Directors of the Hawai'i Conference United Church of Christ.
The link below provides you with an in-depth history of why and how the Hawai'i Conference Foundation was formed.
History of the Hawai'i Conference Foundation