The New Mexico Conference Board of Trustees is focused on the careful administration of our Conference assets, preparation for the future, and the ministry support for local congregations.
Conference Group Insurance: The Conference Trustees have used Sovereign Insurance Group as our plan administrator since 2020 with insurance provided by Church Mutual. We incurred some real challenges this year with our group program. Due largely to the insurance market, we had several churches that were non-renewed due to the “fire-rating” of their community. Churches in Texas saw an incredible increase in their wind and hail coverage to the point that a major hailstorm would impose deductibles over $500,000 for some of our churches. The churches in New Mexico will also see higher deductibles as the insurance industry is recovering from higher claims frequency and rising costs. NM Conference Trustees are determined to continue shopping and exploring different alternatives, to find an amicable policy for the protection of our churches and the conference.
As insurance rates continue to increase, the Trustees have introduced a new provision allowing churches to submit a request to opt out of carrying property insurance. This request can be submitted to the respective District Superintendent and will be reviewed by both the DS the Trustees for approval. Opting out of property coverage does not release a church from continuing to purchase insurance for Liability and Workers Compensation through the conference insurance plan.
Endowment Funds: With oversight of the Pippin and Thaxton endowment funds, the trustees have two representatives on the Endowment Distribution Committee. Their role is to ensure that funds are awarded for purposes congruent with the original donors.
Conference Office Building: One of the important assets of our annual conference is the office building on Lomas Blvd. in Albuquerque. We continue to strive to see that the building is well maintained to keep it useful and welcoming for all who use it.
Other Assets: Trustees still have a number of church properties that we are in the process of selling. Several of the properties are in smaller communities and the market for them is limited. We will continue to do modest, needed, maintenance in hopes of liquidating these properties as soon as possible for the benefit of our conference.