SUPPLEMENT DATED JUNE 27, 2000
TO
PROSPECTUS DATED MAY 1, 2000
Timothy Partners, Ltd.("TPL"), the Investment Adviser to each Fund of the
Timothy Plan, previously has absorbed many expenses of the Funds and waived some
or all of its fees in order to maintain certain expense ratios for the Funds
until the Funds could grow to the point where they were more self-sufficient.
The Timothy Plan has now achieved aggregate assets of almost $40 million. TPL
has determined that it may now safely amend its voluntary commitment in order to
allow the Funds to shoulder a greater percentage of their expenses. TPL is
pleased to be able to undertake this amendment, because it reflects the maturing
of the Timothy Plan made possible by morally conscious investors contributing to
the investment growth of the Fund.
Accordingly, the Prospectus for the Timothy Plan Family of Funds, dated May 1,
2000, is supplemented as follows:
FEES AND EXPENSES
THIS TABLE DESCRIBES THE FEES AND EXPENSES YOU MAY PAY IF YOU BUY AND HOLD
SHARES OF THE TIMOTHY PLAN SMALL-CAP VALUE FUND ("SMALL"), TIMOTHY PLAN
LARGE/MID-CAP VALUE FUND ("MID"), AND TIMOTHY PLAN FIXED-INCOME FUND ("FIXED").
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
CLASS A CLASS B
--------------------------------------------------------------------------------------------------------------------
SHAREHOLDER TRANSACTION EXPENSES SMALL MID FIXED SMALL MID FIXED
--------------------------------------------------------------------------------------------------------------------
MAXIMUM SALES CHARGE ON PURCHASES
<S> <C> <C> <C> <C> <C> <C>
(as percentage of offering price) 5.50% 5.50% 4.25% None None None
--------------------------------------------------------------------------------------------------------------------
MAXIMUM DEFERRED SALES CHARGE
(as percentage of the lesser of original
purchase price or redemption proceeds) None None None 5.00% 5.00% 5.00%
--------------------------------------------------------------------------------------------------------------------
REDEMPTION FEES* None None None None None None
--------------------------------------------------------------------------------------------------------------------
EXCHANGE FEES None None None None None None
--------------------------------------------------------------------------------------------------------------------
</TABLE>
*Firstar Bank, N.A., the Trust's custodian, charges a fee of $9 on redemptions
paid by wire transfer.
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
ANNUAL FUND OPERATING EXPENSES CLASS A CLASS B
--------------------------------------------------------------------------------------------------------------------
(expenses that are deducted from Fund SMALL MID FIXED SMALL MID FIXED
assets)
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
MANAGEMENT FEES 0.85% 1.35% 0.95% 0.85% 1.35% 0.95%
--------------------------------------------------------------------------------------------------------------------
SERVICE & DISTRIBUTION (12B-1) FEES 0.25% 0.25% 0.25% 1.00% 1.00% 1.00%
--------------------------------------------------------------------------------------------------------------------
OTHER EXPENSES(1) 1.12% 3.09% 12.72% 0.87% 3.52% 12.78%
----- ----- ------ ----- ----- ------
--------------------------------------------------------------------------------------------------------------------
TOTAL ANNUAL FUND OPERATING EXPENSES
(Before Reimbursement by Adviser)(2) 2.22% 4.69% 13.92% 2.72% 5.87% 14.73%
===== ===== ====== ===== ===== ======
--------------------------------------------------------------------------------------------------------------------
TOTAL ANNUAL FUND OPERATING EXPENSES (After
Reimbursement by Adviser) 1.60% 1.60% 1.35% 2.35% 2.35% 2.10%
===== ===== ===== ===== ===== =====
--------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
(1) The Large/Mid-Cap Value Fund and the Fixed Income Fund commenced offering
Class A shares on July 14, 1999. The Large/Mid-Cap and Fixed Income Funds
commenced offering Class B shares on July 15, 1999 and August 5, 1999,
respectively. "Other Expenses" represents administrative and other expenses
incurred by these Funds during their start-up period.
(2) TPL has agreed to waive receipt of its fees and/or assume certain expenses,
to the extent possible, to insure that total annual operating expenses do
not exceed 1.35% annually for Class A shares of the Fixed Income Fund and
2.10% annually for Class B shares of the Fixed Income Fund. TPL may
terminate its agreement at any time, and will notify you if it does so.
THIS TABLE DESCRIBES THE FEES AND EXPENSES YOU MAY PAY IF YOU BUY AND HOLD
SHARES OF THE TIMOTHY PLAN MONEY MARKET FUND ("MONEY MARKET"). THE MONEY MARKET
FUND OFFERS ONLY NO-LOAD SHARES.
------------------------------------------------------
SHAREHOLDER TRANSACTION EXPENSES:
---------------------------------
MAXIMUM SALES CHARGE ON PURCHASES NONE
(as a percentage of offering price)
MAXIMUM DEFERRED SALES CHARGES NONE
(as a percentage of the lesser of original
purchase price or redemption proceeds)
REDEMPTION FEES NONE*
(as a percentage of amount redeemed)
EXCHANGE FEES NONE
------------------------------------------------------
ANNUAL FUND OPERATING EXPENSES:
--------------------------------
(expenses that are deducted from Fund assets)
MANAGEMENT FEES. 0.60%
SERVICE & DISTRIBUTION (12B-1) FEES. 0.00%
OTHER EXPENSES(1) 5.15%
-----
TOTAL FUND OPERATING EXPENSES.(2) 5.75%
(Before Expense Reimbursements) -----
TOTAL FUND OPERATING EXPENSES 0.85%
(After Expense Reimbursements) =====
-------------------------------------------------------
(1) The Money Market Fund commenced offering its shares on July 9, 1999. "Other
Expenses" represents administrative and other expenses incurred by these
Funds during their start-up period.
(2) TPL has agreed to waive receipt of its fees and/or assume certain expenses
of the Fund, to the extent possible, to insure that the Fund's total
expenses do not exceed 0.85%. TPL may terminate its agreement at any time,
and will notify you if it does so.
All Sections of the Prospectus not specifically amended herein remain in full
force and effect.
