Use of Funds
1. For what kind of trips and mission efforts can Mission Possible funds be used?
See Mission Endeavors page.
2. Can these funds be used for a Church-in-a Day project?
3. Can an individual open a Mission Possible account for themselves?
Yes, an adult (age 18 or older) can open an account for themselves. Persons under the age of 18 must have the authorization of their parent or legal guardian.
4. Must the funds be used only for specified mission efforts?
Each partner (UPCI Division) will determine what specific mission efforts are eligible within their respective mission programs. See Partners page and Mission Endeavors page.
5. Can the funds be used as a college scholarship fund or education savings fund?
6. Can the funds be used to attend a UPCI endorsed Bible college?
No. Not at this time.
Changes and Transfers
7. What if a beneficiary chooses to not use the funds personally for a Mission Possible endeavor?
If an individual chooses to forfeit the money placed in their Mission Possible account, they can request the money be moved to another individual who has an account. They can also give the account balance to the mission program of their choice for use as a scholarship for someone who needs financing for a missions endeavor.
8. If the beneficiary decides not to use the funds and the funds are not transferred or redesignated by the account holder where does the money go?
The Mission Possible committee (one representative from each of the partnering UPCI divisions) would determine the best use of the funds within the Mission Possible program.
9. If a beneficiary decides not to participate in a Mission Possible endeavor, can the money be given to the missionary on location?
No. It must remain within the Mission Possible program and be used for a Mission Possible endorsed endeavor.
10. Are Mission Possible funds transferrable?
A Mission Possible account can be transferred into another individuals’ name, but the funds cannot be transferred out of the Mission Possible account into another savings mechanism (bank account, CD, etc.).
11. Can I withdraw my funds for personal use?
No. The funds must remain in the Mission Possible account or be transferred to a UPCI division for use financing a mission endeavor. It is possible to create an account in your name.
12. How do I request funds and how long does it take for me to get the funds after I have submitted my request?
When the beneficiary is ready to utilize funds from a Mission Possible account, they may request the account balance from the UPCI Foundation no less than 30 days in advance of the “needed-by-date”. The funds will be disbursed directly to the UPCI division that is sponsoring the missions endeavor within 30 days. That UPCI division will apply the funds toward the expense of the endeavor. If funds remain in the Mission Possible account following the beneficiaries’ involvement, the funds will remain in the beneficiaries name for future involvement in another short-term missions endeavor. Fill out the Funds Request Form here.
13. If I do not have a beneficiary, can I assist another beneficiary or cause?
Yes. You can gift funds to anyone with a Mission Possible account.
14. Can you change the beneficiary more than once if the 2nd choice doesn’t work out either?
Yes. You can change the beneficiary as many times as you want.
15. Will the full amount I invest go toward the beneficiary?
Yes. Plus interest earned.
16. Will the interest earned be transferred if the account is transferred into another beneficiary’s name?
17. If I have more than one beneficiary with an account, can I transfer funds from one beneficiary to another if one decides not to use the funds or has more funds than he/she needs for their missions endeavor?
18. If my beneficiary decides not to use the funds, and I donate the funds to be designated by the UPCI would I be eligible to receive a tax deductible contribution receipt?
19. What if the intended missions program ceased to exist? Would I have the option of retrieving my funds?
No. There would be other missions endeavor programs available to choose from.
20. Can a non-UPCI member open an account?
Yes. However, the beneficiary must abide by all missions program requirements as determined by the partnering UPCI division.
21. Can a non-UPCI member donate to a Mission Possible account?
Yes. There are no binding requirements related to those giving gifts to MP accounts.
22. What kind of requirements does the beneficiary have to meet to be eligible to participate in a missions endeavor?
Each missions endeavor has its own specific requirements concerning age, marital status, pastoral support, budget, application/approval process, etc. See the Missions Endeavor page for more information and website links.
23. What are the benefits of creating a Mission Possible account vs. creating a savings account myself?
These funds are designated for missions. It ensures the funds will be used for the intended purpose of encouraging the beneficiary to participate in a missions endeavor rather than the funds from a savings account being utilized for other needs.
24. What are the benefits of creating a Mission Possible account rather than giving toward a missions endeavor through my church?
Mission Possible accounts have an interest earning feature that will enable participants to maximize their savings over a long term. But it is also beneficial for short-term users as well. Mission Possible offers direct transfers to the missions program and family and friends from both inside and outside the church can donate online.
25. What are the benefits to the organization vs. creating a savings account myself?
Mission Possible has the potential to position the UPCI one or two decades from now with a deployable team of short-term missionaries. Finances are one of the greatest hindrances to missions involvement. This program helps eliminate that obstacle.
Terms and Timelines
26. Is there a time limit to when the funds have to be used?
There is no time limit.
27. Does the account ever expire?
The account does not expire.
28. Is it possible to choose a short term fundraising option?
Yes, you can use Mission Possible funds for trips taken within the calendar year or later in the future.
29. What is the minimum amount required to start a fund?
30. What is the minimum gift amount?
31. What is the minimum monthly automatic draft amount?
32. How much do I have to have in my fund account before I can start earning interest?
33. Does it cost to open a fund account?
No. There is no fee to open a fund account. There is a minimum gift amount that must be deposited to open a fund – $10.
34. Is there a monthly or yearly maintenance fee for each fund account?
No. The United Pentecostal Foundation pays the account fees from interest earned from the account funds.
35. Is there a limit of how much can be invested at one time?
No. There is no limit.
36. How much interest will be paid and how often?
The interest will be 2% paid quarterly.
37. How secure are my account funds?
The United Pentecostal Foundation is not insured, but funds are invested in the United Pentecostal Church Loan Fund which adheres to all Federal and State securities regulations to insure that investments are safe.
38. Who handles the investments of funds?
The investment of funds is handled by the United Pentecostal Foundation board.
39. Will the account holder or beneficiary have to pay taxes on the interest earned?
No. All interest earned will go into each account held by the United Pentecostal Foundation a 501(c)3 that is tax exempt.