0001752724-20-124412.txt : 20200622
0001752724-20-124412.hdr.sgml : 20200622
20200622151350
ACCESSION NUMBER: 0001752724-20-124412
CONFORMED SUBMISSION TYPE: N-CEN/A
PUBLIC DOCUMENT COUNT: 3
CONFORMED PERIOD OF REPORT: 20191231
FILED AS OF DATE: 20200622
DATE AS OF CHANGE: 20200622
EFFECTIVENESS DATE: 20200622
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: TIMOTHY PLAN
CENTRAL INDEX KEY: 0000916490
IRS NUMBER: 597016828
STATE OF INCORPORATION: DE
FILING VALUES:
FORM TYPE: N-CEN/A
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-08228
FILM NUMBER: 20978348
BUSINESS ADDRESS:
STREET 1: 1055 MAITLAND CENTER COMMONS
CITY: MAITLAND
STATE: FL
ZIP: 32759
BUSINESS PHONE: 4076441986
MAIL ADDRESS:
STREET 1: 1055 MAITLAND CENTER COMMONS
CITY: MAITLAND
STATE: FL
ZIP: 32759
0000916490
S000011344
Timothy Conservative Variable
C000031436
Timothy Conservative Variable
0000916490
S000011345
Timothy Strategic Variable
C000031437
Timothy Strategic Variable
0000916490
S000063763
Timothy Plan US Large/Mid Cap Core ETF
C000206641
Timothy Plan US Large/Mid Cap Core ETF
TPLC
0000916490
S000063764
Timothy Plan US Small Cap Core ETF
C000206642
Timothy Plan US Small Cap Core ETF
TPSC
0000916490
S000063765
Timothy Plan International ETF
C000206643
Timothy Plan International ETF
TPIF
0000916490
S000063766
Timothy Plan High Dividend Stock ETF
C000206644
Timothy Plan High Dividend Stock ETF
TPHD
N-CEN/A
1
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811-08228
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N-1A
S000011344
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S000063766
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S000063765
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Timothy Plan
811-08228
0000916490
549300TW26XMX8DL8P98
1055 Maitland Center Commons
Maitland
32751
US-FL
US
1-800-846-7526
Victory Capital Management, Inc.
4900 Tiedeman Road
4th Floor
Brooklyn
44144
877-660-4400
Sub-Investment Adviser to the Trust
Timothy Partners, Ltd.
1055 Maitland Center Commons
Maitland
32751
407-644-1986
Investment Adviser to the Trust
Foreside Distributors, LLC
3 Canal Plaza
Suite 100
Portland
04101
866-251-6920
Distributor of the Trust
Citi Fund Services Ohio, Inc.
4400 Easton Commons
Suite 200
Columbus
43219
614-470-8000
Administrator and Fund Accountant to the Trust that maintains the accounting books and records for the Funds
Citibank, N.A.
388 Greenwhich Street
New York
10013
800-374-9700
Transfer Agent to the Trust that maintains shareholder records and Custodian for assets of all Funds
Gemini Fund Services
4221 N. 203rd St.
Suite 100
Elkhorn
68022
402-509-1066
Fund Accounting and Transfer Agent Records
N
N
N
N-1A
19
Y
Kenneth Blackwell
N/A
N
Mathew D. Staver
N/A
Y
Bill Johnson
N/A
N
Alan Ross
N/A
N
John Mulder
N/A
N
Charles Nelson
N/A
Y
Richard Copeland
N/A
N
Patrice Tsague
N/A
N
Scott Preissler
N/A
N
Arthur D. Ally
000855097
Y
Deborah Honeycutt
N/A
N
Joseph E. Boatwright
N/A
Y
David Jones
N/A
20770 Hwy 281 N.
Suite 108-619
San Antonio
78258
XXXXXX
N
N
N
N
N
Foreside Fund Services, LLC
008-51293
000046106
N/A
N
Timothy Partners, Ltd
8-49589
000041835
N/A
Y
N
Cohen & Company, Ltd.
925
N/A
N
N
N
N
N
N
N
Timothy Plan US Small Cap Core ETF
S000063764
549300C6ZSD0DJ1FGO83
Y
1
1
0
Exchange-Traded Fund
N
N
Y
N
N/A
0.00000000
0.00000000
N/A
N
N
N
N
Timothy Partners, Ltd.
801-45766
000041835
N/A
2019-04-29
Victory Capital Management Inc
801-46878
000106189
549300YNO08S1SH3I683
N
Citibank, N.A.
N/A
E57ODZWZ7FF32TWEFA76
N
N
Y
Bloomberg L.P.
549300B56MD0ZC402L06
N
ICE Data Services
5493000NQ9LYLDBCTL34
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Y
Citibank, N.A.
E57ODZWZ7FF32TWEFA76
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Y
N
Citi Fund Services Ohio, Inc.
549300OX9HIV34JOX333
N
N
Y
RBC CAPITAL MARKETS, LLC
008-45411
000031194
549300LCO2FLSSVFFR64
15.90000000
15.90000000
MERRILL LYNCH PROFESSIONAL CLEARING CORP
008-33359
000016139
549300PMHS66E71I2D34
9833845.84
CITADEL SECURITIES, LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
2470241.57
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
100.00000000
12304187.41000000
N
10221807.46000000
N
N
N
Timothy Plan Strategic Growth Portfolio Variable Series
S000011345
54930010XZ8E66BC0661
N
1
0
0
Fund of Funds
Underlying fund
N
N
N
N
N/A
0.00000000
0.00000000
N/A
N
N
N
N
Timothy Partners Ltd.
801-45766
000041835
N/A
N
Gemini Fund Services, LLC
84-06083
N/A
N
N
N
ICE Data Services
N/A
N
N
U.S. BANK, N.A.
6BYL5QZYBDK8S7L73M02
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Gemini Fund Services, LLC
84-06083
Filling Number
N
N
N
Gemini Fund Services, LLC
N/A
N/A
N
N
N
WALLACHBETH CAPITAL LLC
8-67936
000147853
549300R371KUKXEXC133
2426.9
2426.9
UBS AG
8-16267
000008174
ETYRV6ORNFJB5NONI676
4271600.06
4271600.06
N
16996084
0
N
N
N
N
Timothy Plan US Large Cap Core ETF
S000063763
5493005RW4DOTZ7WGK45
Y
1
1
0
Exchange-Traded Fund
N
N
Y
N
N/A
0.00000000
0.00000000
N/A
N
N
N
N
Timothy Partners, Ltd.
801-45766
000041835
N/A
2019-04-29
Victory Capital Management Inc
801-46878
000106189
549300YNO08S1SH3I683
N
Citibank, N.A.
N/A
E57ODZWZ7FF32TWEFA76
N
N
Y
Bloomberg L.P.
549300B56MD0ZC402L06
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
ICE Data Services
5493000NQ9LYLDBCTL34
N
Y
Citibank, N.A.
E57ODZWZ7FF32TWEFA76
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Y
N
Citi Fund Services Ohio, Inc.
549300OX9HIV34JOX333
N
N
Y
RBC CAPITAL MARKETS, LLC
008-45411
000031194
549300LCO2FLSSVFFR64
134.46000000
DEUTSCHE BANK SECURITIES INC.
008-17822
000002525
9J6MBOOO7BECTDTUZW19
3.95000000
SUSQUEHANNA SECURITIES
008-47034
000035874
549300RX9GZX8Y9IGJ81
4250.82000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
112.56000000
4501.79000000
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
008-07221
000007691
8NAV47T0Y26Q87Y0QP81
10075841.83000000
CITADEL SECURITIES, LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
81521884.07999999
CITIGROUP GLOBAL MARKETS INC.
008-08177
000007059
MBNUM2BPBDO7JBLYG310
43242.48000000
MERRILL LYNCH PROFESSIONAL CLEARING CORP
008-33359
000016139
549300PMHS66E71I2D34
60020657.24000000
151661625.63000000
N
74274465.81000000
N
N
N
Timothy Plan High Dividend Stock ETF
S000063766
549300FAVKUL2YUBVF05
Y
1
1
0
Exchange-Traded Fund
N
N
Y
N
N/A
0.00000000
0.00000000
N/A
N
N
N
N
Timothy Partners, Ltd.
801-45766
000041835
N/A
2019-04-29
Victory Capital Management Inc
801-46878
000106189
549300YNO08S1SH3I683
N
Citibank, N.A.
N/A
E57ODZWZ7FF32TWEFA76
N
N
Y
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
ICE Data Services
5493000NQ9LYLDBCTL34
N
Y
Citibank, N.A.
E57ODZWZ7FF32TWEFA76
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Y
N
Citi Fund Services Ohio, Inc.
549300OX9HIV34JOX333
N
N
Y
SUSQUEHANNA SECURITIES
008-47034
000035874
549300RX9GZX8Y9IGJ81
5882.44000000
RBC CAPITAL MARKETS, LLC
008-45411
000031194
549300LCO2FLSSVFFR64
103.63000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
156.78000000
CITIGROUP GLOBAL MARKETS INC.
008-08177
000007059
MBNUM2BPBDO7JBLYG310
112.82000000
6255.67000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
556.45000000
CITADEL SECURITIES, LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
59608430.34000000
CITIGROUP GLOBAL MARKETS INC.
008-08177
000007059
MBNUM2BPBDO7JBLYG310
133063.97000000
MERRILL LYNCH PROFESSIONAL CLEARING CORP
008-33359
000016139
549300PMHS66E71I2D34
60080615.62
119822666.38000000
N
64099748.32999999
N
N
N
Timothy Plan International ETF
S000063765
549300LZ49H0E23KKN61
Y
1
1
0
Exchange-Traded Fund
N
N
Y
N
N/A
0.00000000
0.00000000
N/A
N
N
N
N
Timothy Partners, Ltd.
801-45766
000041835
N/A
2019-04-29
Victory Capital Management Inc
801-46878
000106189
549300YNO08S1SH3I683
N
Citibank, N.A.
N/A
E57ODZWZ7FF32TWEFA76
N
N
Y
Bloomberg L.P.
549300B56MD0ZC402L06
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
ICE Data Services
5493000NQ9LYLDBCTL34
N
Y
Citibank, N.A.
E57ODZWZ7FF32TWEFA76
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Y
N
Citi Fund Services Ohio, Inc.
549300OX9HIV34JOX333
N
N
Y
MORGAN STANLEY & CO. LLC
008-15869
000008209
9R7GPTSO7KV3UQJZQ078
17.54000000
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
008-07221
000007691
8NAV47T0Y26Q87Y0QP81
1333.9
UBS SECURITIES LLC
008-22651
000007654
T6FIZBDPKLYJKFCRVK44
1529.77000000
2881.21000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
100.00000000
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
008-07221
000007691
8NAV47T0Y26Q87Y0QP81
20220709.64000000
20220809.64000000
N
23018274.46000000
N
N
N
Timothy Plan Conservative Growth Portfolio Variable Series
S000011344
549300V5POU9T4S7IE38
N
1
0
0
Fund of Funds
Underlying fund
N
N
N
N
N/A
0.00000000
0.00000000
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Timothy Partners Ltd.
801-45766
000041835
N/A
N
Gemini Fund Services, LLC
84-06083
N/A
N
N
N
ICE Data Services
N/A
N
N
U.S. BANK, N.A.
6BYL5QZYBDK8S7L73M02
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Gemini Fund Services, LLC
84-06083
Filling Number
N
N
N
Gemini Fund Services, LLC
N/A
N/A
N
N
N
WALLACHBETH CAPITAL LLC
8-67936
000147853
549300R371KUKXEXC133
1583.75
1583.75
UBS AG
8-16267
000008174
ETYRV6ORNFJB5NONI676
2046875.8
2046875.8
N
14468199
0
N
N
N
N
Timothy Plan International ETF
S000063765
N
50000.00000000
0.09485300
0.00049000
0.90514700
0.00049000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
838.98000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
Y
Timothy Plan High Dividend Stock ETF
S000063766
N
50000.00000000
0.00557300
0.00628300
0.99442700
0.00628300
0.00346200
0.00557800
0.99653800
0.00557800
0.00000000
90.12000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
181.25000000
0.00000000
0.00000000
0.00000000
0.00000000
Y
Timothy Plan US Small Cap Core ETF
S000063764
N
50000.00000000
0.00469800
0.00501600
0.99530200
0.00501600
0.00214700
0.00000000
0.99785300
0.00000000
0.00000000
83.33000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
250.00000000
0.00000000
0.00000000
0.00000000
0.00000000
Y
Timothy Plan US Large Cap Core ETF
S000063763
N
50000.00000000
0.00468300
0.00380600
0.99531700
0.00380600
0.00399400
0.00277300
0.99600600
0.00277300
0.00000000
131.85000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
458.33000000
0.00000000
0.00000000
0.00000000
0.00000000
Y
false
false
true
false
false
false
INTERNAL CONTROL RPT
2
CitiICLetter.txt
TIMOTHY ETFS 12.31.19 IC LETTER
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders and Board of Trustees of
The Timothy Plan
In planning and performing our audit of the financial
statements of Timothy Plan US Small Cap Core ETF, Timothy Plan
US Large Cap Core ETF, Timothy Plan High Dividend Stock ETF, and
Timothy Plan International ETF (the "Funds"), four of the
portfolios constituting The Timothy Plan, as of and for the
period ended December 31, 2019, in accordance with the standards
of the Public Company Accounting Oversight Board (United States),
we considered the Funds' internal control over financial
reporting, including controls over safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-CEN, but not for the purpose of
expressing an opinion on the effectiveness of the Funds' internal
control over financial reporting. Accordingly, we express no
such opinion.
The management of the Funds is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A fund's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles
(GAAP). A fund's internal control over financial reporting
includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the
assets of the fund; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation
of financial statements in accordance with GAAP, and that
receipts and expenditures of the fund are being made only in
accordance with authorizations of management and trustees of
the fund; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition,
use or disposition of a fund's assets that could have a
material effect on the financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may
deteriorate.
A deficiency in internal control over financial reporting
exists when the design or operation of a control does not
allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a
deficiency, or combination of deficiencies, in internal
control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the
Funds' annual or interim financial statements will not be
prevented or detected on a timely basis.
Our consideration of the Funds' internal control over
financial reporting was for the limited purpose described
in the first paragraph and would not necessarily disclose
all deficiencies in internal control that might be material
weaknesses under standards established by the Public Company
Accounting Oversight Board (United States). However, we noted
no deficiencies in the Funds' internal control over financial
reporting and its operation, including controls over safeguarding
securities, that we consider to be a material weakness as defined
above as of December 31, 2019.
This report is intended solely for the information and use of
management and the Board of Trustees of the Funds and the
Securities and Exchange Commission and is not intended to be
and should not be used by anyone other than these specified
parties.
COHEN & COMPANY, LTD.
Cleveland, Ohio
February 28, 2020
INTERNAL CONTROL RPT
3
icletter.txt
TIMOTHY VIT 12.31.19 LETTER
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the Shareholders and Board of Trustees of
The Timothy Plan
In planning and performing our audit of the financial
statements of Timothy Plan Conservative Growth Portfolio
Variable Series and Timothy Plan Strategic Growth Portfolio
Variable Series (the Funds), two of the portfolios constituting
The Timothy Plan, as of and for the year ended December 31,
2019, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), we
considered the Funds internal control over financial
reporting, including controls over safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to
comply with the requirements of Form N-CEN, but not for the
purpose of expressing an opinion on the effectiveness of the
Funds internal control over financial reporting. Accordingly,
we express no such opinion.
The management of the Funds is responsible for establishing
and maintaining effective internal control over financial
reporting. In fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of controls. A funds
internal control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial
statements for external purposes in accordance with
generally accepted accounting principles (GAAP). A funds
internal control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the
fund; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial
statements in accordance with GAAP, and that receipts and
expenditures of the fund are being made only in accordance
with authorizations of management and trustees of the fund;
and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use or
disposition of a funds assets that could have a material effect
on the financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may
deteriorate.
A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of
performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a
deficiency, or combination of deficiencies, in internal control
over financial reporting, such that there is a reasonable
possibility that a material misstatement of the Funds annual
or interim financial statements will not be prevented or
detected on a timely basis.
Our consideration of the Funds internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies
in internal control that might be material weaknesses under
standards established by the Public Company Accounting
Oversight Board (United States). However, we noted no
deficiencies in the Funds internal control over financial
reporting and its operation, including controls over
safeguarding securities, that we consider to be a material
weakness as defined above as of December 31, 2019.
This report is intended solely for the information and use of
management and the Board of Trustees of the Funds and the
Securities and Exchange Commission and is not intended to
be and should not be used by anyone other than these
specified parties.
/s/ COHEN & COMPANY, LTD.
Cleveland, Ohio
February 14, 2020