DDDF Purpose

THE DEVELOPMENT FUND - WHAT IS IT?

The role of the Development Fund is to help you, your Parish, Schools and Church Institutions to more effectively manage your financial resources so that you are able to better promote the Mission of the Church in your particular area. The Church sees funding as a necessary commodity to help build the Kingdom of God. The Development Fund in managing funds, sees its role as one of stewardship and of service - and not an opportunity to control or set pastoral priorities. The Darwin Development Fund exists to help the Diocese and associated Entities achieve their goals.

WHY HAVE A DEVELOPMENT FUND?

There are a number of significant reasons why Development Funds were established and continue to operate. These include:

Financial benefits

There are a number of major advantages over a similar commercial organisation, resulting in financial savings to the Church and its Entities.
These are:

  • No Shareholders - All DDDF surplus remains for use of Church.

  • Loan Operating Costs - the Fund can operate very effectively on a minimum budget.

  • No Bad Debts - The DDDF has no such problems.

Availability of finance

At times finance has not always been readily available from commercial organisations. While this had not occurred since financial deregulation, it is comforting to know that the availability of finance is not a problem with the existence of the Development Fund

Control over interest rates

The Development Fund provides control over the volatility of interest rates. The Fund is committed to keeping interest rates as stable as possible, this ensures projects can be planned confidently and budgeted accurately.

WHAT DOES THE DEVELOPMENT FUND DO?

Access Deposits

Funds can be deposited with the Development Fund in the same way as with other Financial Institutions. Monies are on-call and immediately available when required. An attractive rate of interest is paid on the daily balance - and there are absolutely no hidden costs.
All monies deposited Church projects and Church organisations as opposed to shareholders within commercial alternatives.

Lends Money

The DDDF provides loans to Church organisations. This includes funding for: Churches, Furniture and Equipment, Schools, Motor Vehicles, Welfare Projects, Bridging Finance, Property, Pastoral Projects. The only cost involved in loans is the interest due on the daily balance. Loans are designed to be flexible to suit particular needs, with interest rates as low as possible.

Provides Financial Advice

The Fund has a role to play not only in the planning and financing of capital projects, but in providing assistance to Church Administrators on all financial matters. St. Francis of Assisi School - Humpty Doo, totally funded by DDDF. Mary Mackillop College project, totally funded by DDDF.

The fund operates with complete confidentiality on all financial matters. Its role is to provide support and advice - it is not to control or direct you in any way.

Interest Rates

Subject to variations in line with market conditions, most often better than what organisations can access on open market.