Former and current pastors at Mountain View praised the foundation's assistance in funding the start-up congregation on the city's northwest side. New Church Ventures then organized a 20-year bond sale to fund the transaction, Litton said. They were very meticulous. They knew what they were doing,'' he said. Barry Jude, Mountain View's current senior pastor, said the foundation can be the only way some new congregations find capitalization.
Many new churches fail.
Litton and Jude said the foundation also helps church members by offering financial education seminars on topics including insurance, investments, retirement accounts and financial management. He said his congregation is purchasing 19 acres at Cortaro Farms and Thornydale roads for a new church facility scheduled to open in January 2003. He said his established congregation, with an average weekly attendance of about 425, would have an easier time securing funding outside the foundation than would a start-up. He also said other Arizona churches, in the planning stage or under construction, have been hurt by the foundation's problems. Jude added that his congregation has some emergency money available for members financially struggling because of the foundation's funds freeze.