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rr:AfterTaxesOnDistributionsAndSalesMember tp1:C000012347Member 2012-01-30 2013-01-29 0000916490 tp1:S000004484Member tp1:DjGlobalModeratelyAggressivePortfolioIndexMember tp1:C000012347Member 2012-01-30 2013-01-29 pure iso4217:USD <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyAggressiveGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyAggressiveGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyAggressiveGrowthFund column period compact * ~</div> 485BPOS 2012-09-30 TIMOTHY PLAN 0000916490 false 2013-01-30 2013-01-30 2013-01-29 Aggressive Growth Fund CLASS A: TAAGX | CLASS C: TCAGX INVESTMENT OBJECTIVE The investment objective of this Fund is to provide you with long-term growth of capital. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyPlanInternationalFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyPlanInternationalFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyPlanInternationalFund column period compact * ~</div> 0.055 0 0 0.01 0 0 0 0 International Fund CLASS A: TPIAX | CLASS C: TPICX INVESTMENT OBJECTIVE The investment objective of this Fund is to provide you with long-term growth of capital. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. 50000 Shareholder Fees (fees paid directly from your investment) 0.055 0 0 0.01 0 0 0 0 0.0085 0.0085 0.0025 0.01 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.01 0.01 0.0025 0.01 0.0057 0.0057 0.0002 0.0002 0.0184 0.0259 0.0102 0.0102 0.0001 0.0001 0.0213 0.0288 A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. Example: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 727 362 1097 805 1491 1375 2590 2925 262 805 1375 2925 The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. PORTFOLIO TURNOVER The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 34% of the average value of its portfolio. 0.34 PRINCIPAL INVESTMENT STRATEGIES 754 391 1180 892 1631 1518 2877 3204 <ul type="square"><li style="margin-left:-20px"> This Fund seeks to achieve its investment objectives by normally investing at least 80% of the Fund’s total assets in the securities of foreign companies through the purchase of American Depository Receipts (ADRs), without regard to market capitalizations.</li></ul><ul type="square"><li style="margin-left:-20px"> This Fund invests using a growth investing style. Growth funds generally focus on stocks of companies believed to have above-average potential for growth in revenue, earnings, cash flow, or other similar criteria. These stocks typically have low dividend yields and above-average prices in relation to such measures as earnings and book value. Growth and value stocks have historically produced similar long-term returns, though each category has periods when it outperforms the other.</li></ul><ul type="square"><li style="margin-left:-20px"> The Fund invests its assets in the ADRs of companies which the Fund’s Investment Manager believes show a high probability for superior growth. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria. </li></ul><ul type="square"><li style="margin-left:-20px"> The Fund allocates investments across countries and regions at the Manager’s discretion. </li></ul><ul type="square"><li style="margin-left:-20px"> The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets will be held in cash and/or cash equivalents. </li></ul><ul type="square"><li style="margin-left:-20px"> The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles. </li></ul> PRINCIPAL RISKS <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyLarge/Mip-CapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyLarge/Mip-CapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyLarge/Mip-CapGrowthFund column period compact * ~</div> 291 892 1518 3204 0.3904 0.0962 0.0873 0.075 0.0766 -0.4527 0.3046 0.2789 0.0291 0.124 0.0623 0.0623 0.0405 0.1581 0.1055 0.1055 0.0686 0.1581 -0.0005 -0.0007 -0.0006 0.0323 0.0036 0.0038 0.0031 0.0323 0.067 INVESTMENT OBJECTIVE 0.063 0.1032 0.0587 FEES AND EXPENSES Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) As with most other mutual funds, you can lose money by investing in this Fund. 0.0346 0.0301 Example: PAST PERFORMANCE 0.0296 0.0691 PORTFOLIO TURNOVER PRINCIPAL INVESTMENT STRATEGIES PRINCIPAL RISKS PAST PERFORMANCE Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) Average Annual Total Returns (for periods ending on December 31, 2012) The investment objective of this Fund is to provide you with long-term growth of capital. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. The Fund commenced investment operations on May 1, 2011. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. 0.055 0 0 0.01 0 0 0 0 The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. www.timothyplan.com (800) 846-7526 The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) 0.0085 0.0085 0.0025 0.01 -0.4538 0.3388 0.0058 0.0059 -0.1734 0.0001 0.0001 0.0169 0.1472 0.0245 0.0723 You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. 50000 A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 712 348 1053 764 1417 1306 2438 2786 The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. 248 764 1306 2786 Best Quarter 2009-06-30 0.1929 Worst Quarter 2008-12-31 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 127% of the average value of its portfolio. -0.2453 Average Annual Total Returns (for periods ending on December 31, 2012) 0.0836 0.0807 0.0544 0.1355 0.1276 0.1276 0.0829 0.1355 -0.0685 -0.0734 -0.0597 -0.0657 -0.065 -0.0684 -0.056 -0.0657 <ul type="square"><li style="margin-left:-20px">The Fund seeks to achieve its investment objective by primarily investing at least 80% of the Fund’s total assets in larger U.S. stocks. Larger stocks refer to the common stock of companies whose total market capitalization is generally greater than $2 billion. Current income is not a significant investment consideration and any such income realized will be considered incidental to the Fund’s investment objective. </li></ul> <ul type="square"><li style="margin-left:-20px">This Fund invests using a growth investing style. Growth funds generally focus on stocks of companies believed to have above-average potential for growth in revenue, earnings, cash flow, or other similar criteria. These stocks typically have low dividend yields and above-average prices in relation to such measures as earnings and book value. Growth and value stocks have historically produced similar long-term returns, though each category has periods when it outperforms the other.</li></ul> <ul type="square"><li style="margin-left:-20px">The Fund normally invests in a portfolio of securities which includes a broadly diversified number of common stocks that the Fund’s Investment Manager believes show a high probability of superior prospects for above average growth. The Fund’s Investment Manager chooses these securities using a “bottom up” approach of extensively analyzing the financial, management and overall economic conditions of each potential investment. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria. </li></ul> <ul type="square"><li style="margin-left:-20px">The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets will be held in cash and/or cash equivalents.</li></ul> <ul type="square"><li style="margin-left:-20px">The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles.</li></ul> -0.0441 -0.0487 -0.0395 -0.057 -0.042 -0.0451 -0.037 -0.057 <ol><li style="margin-left:-20px">General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them. </li><li style="margin-left:-20px">Stock Market Risk | The Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time. </li><li style="margin-left:-20px">Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities. </li><li style="margin-left:-20px">Growth Risk | The Fund often invests in companies after assessing their growth potential. Securities of growth companies may be more volatile than other stocks. If the portfolio manager’s perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the Fund’s return. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities. </li><li style="margin-left:-20px">Larger Company Investing Risk | Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. Also, larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. </li><li style="margin-left:-20px">Mid-Sized Company Investing Risk | Investing in mid-sized companies often involves greater risk than investing in larger companies. Mid-sized companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of mid-sized companies, therefore, tend to be more volatile than the securities of larger, more established companies. Mid-sized company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a mid-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period. </li><li style="margin-left:-20px">Who Should Buy This Fund | The Fund is most appropriate for investors who understand the risks of investing in the domestic stock markets and who are willing to accept moderate amounts of volatility and risk. </li></ol> As with most other mutual funds, you can lose money by investing in this Fund. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-t to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyPlanInternationalFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyPlanInternationalFund column period compact * ~</div> The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. www.timothyplan.com (800) 846-7526 The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyPlanInternationalFundBarChart column period compact * ~</div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 0.084 0.0678 0.0607 0.1526 0.1302 0.1114 0.0917 0.1526 0.0114 0.0069 0.0083 0.0312 0.0156 0.0106 0.0118 0.0312 0.046 0.0419 0.039 0.0752 0.026 0.0211 0.0211 -0.05 Large/Mid-Cap Growth Fund CLASS A: TLGAX | CLASS C: TLGCX Best Quarter 2001-12-31 0.1648 Worst Quarter 2001-03-31 -0.2399 0.2004 0.0843 0.0344 0.0477 0.0509 -0.363 0.3174 0.175 -0.0095 0.1466 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyLargeMipCapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyLargeMipCapGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyLarge/Mip-CapGrowthFundBarChart column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothySmall-CapValueFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothySmall-CapValueFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothySmall-CapValueFund column period compact * ~</div> Small Cap Value Fund CLASS A: TPLNX | CLASS C: TSVCX 1.27 The investment objective of this Fund is to provide you with long-term growth of capital, <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Dec-01</center></td><td></td><td><center>Mar-01</center></td></tr> <tr><td></td><td>   </td><td><center>16.48%</center></td><td></td><td><center>-23.99%</center></td></tr></table> with a secondary objective of current income. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. 50000 You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. Shareholder Fees (fees paid directly from your investment) 50000 0.055 0 Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. 0 0.01 Example: 0 0 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0 0 The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. PORTFOLIO TURNOVER The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 147% of the average value of its portfolio. 1.47 PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li style="margin-left:-20px">This Fund seeks to achieve its investment strategy by normally investing at least 80% of the Fund’s total assets in U.S. common stocks without regard to market capitalizations. </li><li style="margin-left:-20px">This Fund invests using a growth investing style. Growth funds generally focus on stocks of companies believed to have above-average potential for growth in revenue, earnings, cash flow, or other similar criteria. These stocks typically have low dividend yields and above-average prices in relation to such measures as earnings and book value. Growth and value stocks have historically produced similar long-term returns, though each category has periods when it outperforms the other. </li><li style="margin-left:-20px">The Fund invests its assets in the securities of a limited number of companies, which the Fund’s Investment Manager believes show a high probability for superior growth. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria. </li><li style="margin-left:-20px">The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets will be held in cash and/or cash equivalents. </li><li style="margin-left:-20px">The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles. </li></ul> PRINCIPAL RISKS Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0085 0.0085 0.0025 0.01 0.0049 0.0049 0.0001 0.0001 0.016 0.0235 A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. Example: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <ol><li style="margin-left:-20px"> General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px">Stock Market Risk | The Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time. </li><li style="margin-left:-20px">Larger Company Investing Risk | Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. Also, larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. </li><li style="margin-left:-20px">Smaller Company Investing Risk | Investing in smaller companies often involves greater risk than investing in larger companies. Smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of smaller companies, therefore, tend to be more volatile than the securities of larger, more established companies. Smaller company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a small-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period. </li><li style="margin-left:-20px">Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities. </li><li style="margin-left:-20px">Growth Risk | The Fund often invests in companies after assessing their growth potential. Securities of growth companies may be more volatile than other stocks. If the portfolio manager’s perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the Fund’s return. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities. </li><li style="margin-left:-20px">Who Should Buy This Fund | The Fund is most appropriate for investors who understand the risks of investing in the stock market and who are willing to accept significant amounts of volatility and risk. </li></ol> 704 338 1027 733 1373 1255 As with most other mutual funds, you can lose money by investing in this Fund. 2346 2686 PAST PERFORMANCE The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. 238 733 1255 2686 The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. www.timothyplan.com (800) 846-7526 The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. PORTFOLIO TURNOVER The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 65% of the average value of its portfolio. 0.65 Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) PRINCIPAL INVESTMENT STRATEGIES Average Annual Total Returns (for periods ending on December 31, 2012) After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. <ul type="square"><li style="margin-left:-20px"> The Fund seeks to achieve its investment objective by primarily investing at least 80% of the Fund’s total assets in U.S. Small Cap stocks. Small Cap stocks refer to the common stock of smaller companies — companies whose total market capitalization is less than $2 billion. This Fund invests using a value investing style. Value funds typically emphasize stocks whose prices are below average in relation to such measures as earnings and book value; these stocks often have above-average dividend yields. Growth and value stocks have historically produced similar long-term returns, though each category has periods when it outperforms the other. </li></ul><ul type="square"><li style="margin-left:-20px">In determining whether to invest in a particular company, the Fund’s Investment Manager focuses on a number of different attributes of the company, including the company’s market expertise, balance sheet, improving return on equity, price to earnings ratios, industry position and strength, management and a number of other factors. Analyzing companies in this manner is known as a “bottom up” approach to investing. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria. </li></ul><ul type="square"><li style="margin-left:-20px">The Fund may invest in equity securities of foreign issuers in the form of American Depositary Receipts (ADRs). ADRs are certificates held in trust by a U.S. bank or trust company evidencing ownership of shares of foreign-based issuers, and are an alternative to purchasing foreign securities in their national market and currency. </li></ul><ul type="square"><li style="margin-left:-20px">The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets will be held in cash and/or cash equivalents. </li></ul><ul type="square"><li style="margin-left:-20px">The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles. </li></ul> PRINCIPAL RISKS <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyLarge/Mid-CapValueFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyLarge/Mid-CapValueFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyLarge/Mid-CapValueFund column period compact * ~</div> <ol><li style="margin-left:-20px"> General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px">Stock Market Risk | The Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time.</li><li style="margin-left:-20px"> Smaller Company Investing Risk | Investing in smaller companies often involves greater risk than investing in larger companies. Smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of smaller companies, therefore, tend to be more volatile than the securities of larger, more established companies. Smaller company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a small-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period.</li><li style="margin-left:-20px"> Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities.</li><li style="margin-left:-20px"> Foreign Risk | The Fund’s investments in foreign securities may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies. This is because the securities markets of many foreign countries are relatively small, with a limited number of companies representing a smaller number of industries. Foreign issuers are not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in a foreign country. There is a risk that fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of the Fund’s investments in foreign securities. </li><li style="margin-left:-20px"> Value Investing Risk | Because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “value” stocks may perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time. It is also possible that a value stock may never appreciate to the extent expected. </li><li style="margin-left:-20px"> Who Should Buy This Fund | The Fund is most appropriate for investors who understand the risks of investing in the stock market and who are willing to accept moderate amounts of volatility and risk.</li></ol> As with most other mutual funds, you can lose money by investing in this Fund. PAST PERFORMANCE The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up- to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. (800) 846-7526 www.timothyplan.com The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. Large/Mid Cap Value Fund CLASS A: TLVAX | CLASS C: TLVCX INVESTMENT OBJECTIVE FEES AND EXPENSES Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Example: PORTFOLIO TURNOVER PRINCIPAL INVESTMENT STRATEGIES PRINCIPAL RISKS PAST PERFORMANCE Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) Average Annual Total Returns (for periods ending on December 31, 2012) The investment objective of this Fund is to provide you with long-term growth of capital, This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. 50000 A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. <ul type="square"><li style="margin-left:-20px">The Fund seeks to achieve its investment objective by primarily investing in U.S. common stocks. The Fund will normally invest at least 80% of the Fund’s total assets in companies whose total market capitalization exceeds $2 billion. This Fund invests using a value investing style. Value funds typically emphasize stocks whose prices are below average in relation to such measures as earnings and book value; these stocks often have above-average dividend yields. Growth and value stocks have historically produced similar long-term returns, though each category has periods when it outperforms the other.</li></ul><ul type="square"><li style="margin-left:-20px"> In determining whether to invest in a particular company, the Fund’s Investment Manager focuses on a number of different attributes of the company, including the company’s market expertise, balance sheet, improving return on equity, price to earnings ratios, industry position and strength, management, and a number of other factors. Analyzing companies in this manner is known as a “bottom up” approach to investing. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria. </li></ul><ul type="square"><li style="margin-left:-20px"> The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets will be held in cash and/or cash equivalents. </li></ul><ul type="square"><li style="margin-left:-20px">The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles.</li></ul> As with most other mutual funds, you can lose money by investing in this Fund. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up- to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. (800) 846-7526 www.timothyplan.com The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 7% of the average value of its portfolio. 0.07 0.2799 0.0875 0.1942 0.1841 0.1702 -0.4005 0.2219 0.2022 0.0076 0.1319 Best Quarter 2003-06-30 0.1772 Worst Quarter 2008-12-31 -0.2381 0.055 0 0 0.01 0 0 0 0 0.0085 0.0085 0.0025 0.01 0.0047 0.0047 0.0001 0.0001 0.0158 0.0233 702 336 1021 727 1363 1245 2325 2666 236 727 1245 2666 0.0694 0.0682 0.0451 0.16 0.1128 0.1128 0.0733 0.16 -0.0104 -0.0123 -0.01 0.0166 -0.0067 -0.008 -0.0064 0.0166 0.0813 0.0744 0.0695 0.071 0.0618 0.0545 0.0518 0.0473 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyLarge/Mid-CapValueFundBarChart column period compact * ~</div> <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Jun-03</center></td><td></td><td><center>Dec-08</center></td></tr> <tr><td></td><td>   </td><td><center>17.72%</center></td><td></td><td><center>-23.81%</center></td></tr></table> <ol><li style="margin-left:-20px">General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px">Stock Market Risk | The Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time. </li><li style="margin-left:-20px">Larger Company Investing Risk | Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. Also, larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. </li><li style="margin-left:-20px"> Mid-Sized Company Investing Risk | Investing in mid-sized companies often involves greater risk than investing in larger companies. Mid-sized companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of mid-sized companies, therefore, tend to be more volatile than the securities of larger, more established companies. Mid-sized company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a mid-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period.</li><li style="margin-left:-20px">Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities.</li><li style="margin-left:-20px"> Value Investing Risk | Because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “value” stocks may perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time. It is also possible that a value stock may never appreciate to the extent expected. </li><li style="margin-left:-20px">Who Should Buy This Fund | The Fund is most appropriate for investors who understand the risks of investing in the stock market and who are willing to accept moderate amounts of volatility and risk.</li></ol> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyLargeMidCapValueFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyLargeMidCapValueFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyPlanHighYieldBondFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyPlanHighYieldBondFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyPlanHighYieldBondFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyFixedIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyFixedIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyFixedIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyPlanHighYieldBondFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyPlanDefensiveStrategiesFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyPlanDefensiveStrategiesFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyPlanDefensiveStrategiesFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyStrategicGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyStrategicGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyStrategicGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyConservativeGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyConservativeGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyConservativeGrowthFund column period compact * ~</div> Emerging Markets Fund CLASS A: TPEMX | CLASS C: TPECX Fixed Income Fund CLASS A: TFIAX | CLASS C: TFICX INVESTMENT OBJECTIVE FEES AND EXPENSES Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Example: PORTFOLIO TURNOVER PRINCIPAL INVESTMENT STRATEGIES PRINCIPAL RISKS PAST PERFORMANCE Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) Average Annual Total Returns (for periods ending on December 31, 2012) INVESTMENT OBJECTIVE The investment objective of this Fund is to generate a high level of current income consistent with prudent investment risk. Defensive Strategies Fund CLASS A: TPDAX | CLASS C: TPDCX INVESTMENT OBJECTIVE The investment objective of this Fund is the protection of principal through aggressive, proactive reactions to prevailing economic conditions. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. The investment objective of this Fund is to provide you with long-term growth of capital. Conservative Growth Fund CLASS A: TCGAX | CLASS C: TCVCX FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. Shareholder Fees (fees paid directly from your investment) This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. Strategic Growth Fund CLASS A: TSGAX | CLASS C: TSGCX 0.055 0 0 0 0.045 0 0.01 0 0 0 The investment objective of the Fund is to generate medium to high levels of long-term capital growth. 0 0.01 0 0 0.055 0 0 0 0 0.01 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) FEES AND EXPENSES 0 0 0 0 0.006 0.006 This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. 0.0025 0.01 0.0049 0.0049 0.0013 0.0013 0.0147 0.0222 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Shareholder Fees (fees paid directly from your investment) 0.006 0.006 0.0025 0.01 0.0046 0.0046 Example: 0.0001 0.0001 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.0132 0.0207 -0.0015 -0.0015 0.0117 0.0192 0.012 0.012 0.055 0 0.0025 0.01 0.0049 0.0049 0 0.01 0.0001 0.0001 0 0 INVESTMENT OBJECTIVE 0.0195 0.027 691 325 0 564 0 295 988 693 1307 837 636 1188 2208 2551 1129 1102 1960 2392 Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. 50000 A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finder’s fee of 0.50% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $4 million, and 0.25% on all mounts in excess of $4 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. 225 693 1188 2551 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 195 636 The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. PORTFOLIO TURNOVER The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 247% of the average value of its portfolio. -0.0208 1102 -0.0269 PRINCIPAL INVESTMENT STRATEGIES -0.0135 0.0422 2392 0.0065 0.0065 0.0374 0.0267 0.0256 0.0595 Example: The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 19% of the average value of its portfolio. 0.0372 0.0247 0.0244 0.0518 0.19 737 373 1128 838 1544 1430 2700 3032 273 838 1430 3032 The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. To achieve its goal, the Fund will invest varying percentages of the Fund’s total assets in the investment Sectors set forth below: <ul type="square"><li style="margin-left:-20px">Real Estate Investment Trusts (REITs), that invest in different kinds of real estate or real estate related assets, including shopping centers, office buildings, hotels, and mortgages secured by real estate, all of which are historically sensitive to both inflation and deflation.</li></ul><ul type="square"><li style="margin-left:-20px">Commodities-based Exchange Traded Funds (ETFs), which trade like stocks, yet provide the opportunity to invest in inflation sensitive physical commodities and/or commodities futures markets. Commodity ETFs invest in Physical Commodities and/or Commodity Futures Contracts, which Contracts are highly leveraged investment vehicles.</li></ul><ul type="square"><li style="margin-left:-20px">Treasury-Inflation Protected Securities (TIPS), which coupon payments and underlying principal are automatically increased to compensate for inflation as measured by the consumer price index (CPI).</li></ul><ul type="square"><li style="margin-left:-20px">Cash and cash equivalents.</li></ul><ul type="square"><li style="margin-left:-20px">The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies by taking large, small, or even no position in any one or more of the Asset Classes in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li style="margin-left:-20px">The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles.</li></ul><ul type="square"><li style="margin-left:-20px">Current income is not a significant investment consideration and any such income realized will be considered incidental to the Fund’s investment objective. To allow for optimal flexibility, the Fund is classified as a “non-diversified” fund, and, as such, the Fund’s portfolio may include the securities of a smaller total number of issuers than if the Fund were classified as “diversified”.</li></ul> PRINCIPAL RISKS 50000 “Other Expenses” are estimated for the Fund’s first year of operations. PORTFOLIO TURNOVER The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the fund’s performance. The Fund is new and has not yet had any portfolio turnover. <ul type="square"><li style="margin-left:-20px">To achieve its goal, the Fund normally invests in a diversified portfolio of corporate bonds, U.S. government and agency securities, convertible securities and preferred securities. The Investment Manager will only purchase securities for the Fund that are investment grade, with a rating of at least “BBB” as rated by Standard & Poor’s or a comparable rating by another nationally recognized rating agency. The Fund may also invest in debt securities that have not been rated by one of the major rating agencies, so long as the Fund’s Investment Manager has determined that the security is of comparable credit quality to similar rated securities. The Fund has adopted a non-fundamental investment policy that under normal circumstances will invest at least 80% of its assets in fixed income securities. This policy may not be changed without at least 60 days prior written notice to Fund shareholders. </li></ul> <ul type="square"><li style="margin-left:-20px">In managing its portfolio, the Fund’s Investment Manager concentrates on sector analysis, industry allocation and securities selection, deciding which types of bonds and industries to emphasize at a given time, and then which individual bonds to buy. The Fund attempts to anticipate shifts in the business cycle in determining types of bonds and industry sectors to target. In choosing individual securities, the Fund seeks out securities that appear to be undervalued within the emphasized industry sector. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria. </li></ul> <ul type="square"><li style="margin-left:-20px">The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets will be held in cash and/or cash equivalents. </li></ul> <ul type="square"><li style="margin-left:-20px"> The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles.</li></ul> PRINCIPAL INVESTMENT STRATEGIES 0 0.0075 0.005 0.005 FEES AND EXPENSES Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Example: PORTFOLIO TURNOVER PRINCIPAL INVESTMENT STRATEGIES PRINCIPAL RISKS PAST PERFORMANCE 0.0167 0.0167 0.0282 0.0357 <ul type="square"><li style="margin-left:-20px"> This Fund seeks to achieve its investment objectives by normally investing at least 80% of the Fund’s total assets in the common stock of companies domiciled and/or headquartered in emerging market countries through the purchase of American Depository Receipts (ADRs) and direct investments in such companies on Foreign stock exchanges, without regard to market capitalizations. Emerging markets or emerging economies are nations with social or business activity in the process of rapid growth and industrialization. Companies “domiciled” in such countries are companies that are organized and registered in the country. Companies “headquartered” in a country are those companies that have their main office in the country, but may be “domiciled” in another country.</li></ul><ul type="square"><li style="margin-left:-20px"> This Fund invests its assets in companies which the Fund’s Investment Manager believes show a high probability for superior growth. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Such criteria include market positioning, management strength, transparency of accounting and financial reporting, and other criteria. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria. </li></ul><ul type="square"><li style="margin-left:-20px"> This Fund invests using a growth investing style. Growth funds generally focus on stocks of companies believed to have above-average potential for growth in revenue, earnings, cash flow, or other similar criteria. These stocks typically have low dividend yields and above-average prices in relation to such measures as earnings and book value. Growth and value stocks have historically produced similar long-term returns, though each category has periods when it outperforms the other. </li></ul><ul type="square"><li style="margin-left:-20px">The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles.</li></ul> Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) PRINCIPAL RISKS Average Annual Total Returns (for periods ending on December 31, 2012) The investment objective of the Fund is to generate moderate levels of long-term capital growth. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. <ol><li style="margin-left:-20px"> General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px"> Real Estate Investment Trust Risk | The Fund is subject to the risks experienced in real estate ownership, real estate financing, or both. As the economy is subjected to a period of economic deflation or interest rate increases, the demand for real estate may fall, causing a decline in the value of real estate owned. Also, as interest rates increase, the values of existing mortgages fall. The higher the duration (a calculation reflecting time risk, taking into account the average maturity of the mortgages) of the mortgages held in REITs owned by the Fund, the more sensitive the Fund is to interest rate risks. The Fund is also subject to credit risk; the Fund could lose money if mortgagors default on mortgages held in the REITs.</li><li style="margin-left:-20px"> Commodities-based Exchange Traded Funds Risk | Commodity ETFs invest in Physical Commodities and/or Commodity Futures Contracts which Contracts are highly leveraged investment vehicles, and therefore generally considered to be high risk. By investing in Commodity ETFs the Fund assumes portions of that risk. ETFs may only purchase commodities futures contracts (the buy side), therefore the Fund’s risk includes missing opportunities to realize gains by shorting futures contracts (the sell side) in deflationary economic periods. It is possible the Fund’s entire ETF investment could be lost.</li><li style="margin-left:-20px"> Treasury-Inflation Protection Securities Risk | Because the real rate of return offered by TIPS, which represents the growth of your purchasing power, is guaranteed by the Federal Government, TIPS may offer a lower return than other fixed income instruments that do not have such guarantees. Other conventional bond issues may offer higher yields, and the Fund may invest in such bond issues if deemed advantageous by the Advisor and Investment Managers. </li><li style="margin-left:-20px"> Interest Rate Risk | When interest rates rise, bond prices fall; the higher the Fund’s duration (a calculation reflecting time risk, taking into account both the average maturity of the Fund’s portfolio and its average coupon return), the more sensitive the Fund is to interest rate risk.</li><li style="margin-left:-20px"> Credit Risk | The Fund could lose money if any bonds it owns are downgraded in credit rating or go into default. For this reason, the Fund will only invest in investment-grade bonds. The degree of risk for a particular security may be reflected in its credit rating. Bonds rated at the time of purchase BBB by Standard & Poor’s, or unrated, but determined to be of comparable quality by the investment manager, are subject to greater market risk and credit risk, or loss of principal and interest, than higher-rated securities.</li><li style="margin-left:-20px"> Sector Risk | If certain industry sectors or types of securities don’t perform as well as the Fund expects, the Fund’s performance could suffer.</li><li style="margin-left:-20px"> Excluded Security Risk | Because the Fund does not invest in Excluded Securities (including certain REITs), and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other Funds that invest in a broader array of securities.</li><li style="margin-left:-20px"> Non-Diversification Risk | Because the Fund may invest in a smaller number of securities, adverse changes to a single security might have a more pronounced negative effect on the Fund than if the Fund’s investments were more widely distributed.</li><li style="margin-left:-20px"> Who Should Buy This Fund | The Fund is most appropriate for investors who seek a hedge against inflation, understand the risks of investing in each of the various asset classes, and who are willing to accept moderate amounts of volatility and risk.</li></ol> <ol><li style="margin-left:-20px">General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them. </li><li style="margin-left:-20px">Interest Rate Risk | When interest rates rise, bond prices fall; the higher the Fund’s duration (a calculation reflecting time risk, taking into account both the average maturity of the Fund’s portfolio and its average coupon return), the more sensitive the Fund is to interest rate risk. </li><li style="margin-left:-20px">Credit Risk | The Fund could lose money if any bonds it owns are downgraded in credit rating or go into default. For this reason, the Fund will only invest in investment-grade bonds. The degree of risk for a particular security may not be reflected in its credit rating. Bonds rated at the time of purchase BBB by Standard & Poor’s or, unrated, but determined to be of comparable quality by the Investment Manager, are subject to greater market risk and credit risk, or loss of principal and interest, than higher-rated securities. </li><li style="margin-left:-20px">Sector Risk | If certain industry sectors or types of securities don’t perform as well as the Fund expects, the Fund’s performance could suffer.</li><li style="margin-left:-20px">Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier that other Funds that invest in a broader array of securities. </li><li style="margin-left:-20px">Who Should Buy This Fund | The Fund is most appropriate for investors who want a high level of current income and are willing to accept a minor degree of volatility and risk. </li></ol> PAST PERFORMANCE The Fund commenced investment operations on November 4, 2009. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. As with most other mutual funds, you can lose money by investing in this Fund. 50000 Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up- to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. Average Annual Total Returns (for periods ending on December 31, 2012) A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyPlanHighYieldBondFund column period compact * ~</div> High Yield Bond Fund CLASS A: TPHAX | CLASS C: TPHCX INVESTMENT OBJECTIVE The investment objective of this Fund is to generate a high level of current income. FEES AND EXPENSES -0.0114 This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. -0.0117 -0.0071 0.1192 You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. 50000 Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finder’s fee of 0.50% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $4 million, and 0.25% on all mounts in excess of $4 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. 0.076 0.066 0.0604 0.1131 Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. 0.0292 0.0289 Example: 0.0193 0.1192 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. www.timothyplan.com (800) 846-7526 PORTFOLIO TURNOVER 0.055 0 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 24% of the average value of its portfolio. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. 0.24 0.0874 0.0775 PRINCIPAL INVESTMENT STRATEGIES 0.1131 <ul type="square"><li style="margin-left:-20px">To achieve its goal, the Fund normally invests at least 80% of its total assets in a diversified portfolio of high yield fixed income securities. These include corporate bonds, convertible securities and preferred securities. The Investment Manager will generally purchase securities for the Fund that are not investment grade (“junk” bonds), meaning securities with a rating of “BB” or lower as rated by Standard & Poor’s or a comparable rating by another nationally recognized rating agency. The Fund may also invest in debt securities that have not been rated by one of the major rating agencies, so long as the Fund’s Investment Manager has determined that the security is of comparable credit quality to similar rated securities. The Fund has adopted a non-fundamental investment policy that under normal circumstances will invest at least 80% of its assets in fixed income securities. This policy may not be changed without at least 60 days prior written notice to Fund shareholders.</li></ul><ul type="square"><li style="margin-left:-20px">In managing its portfolio, the Fund’s Investment Manager concentrates on sector analysis, industry allocation and securities selection, deciding which types of bonds and industries to emphasize at a given time, and then which individual bonds to buy. The Fund attempts to anticipate shifts in the business cycle in determining types of bonds and industry sectors to target. In choosing individual securities, the Fund seeks out securities that appear to be undervalued within the emphasized industry sector. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria. </li></ul><ul type="square"><li style="margin-left:-20px">The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets will be held in cash and/or cash equivalents. </li></ul><ul type="square"><li style="margin-left:-20px">The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles.</li></ul> PRINCIPAL RISKS <ol><li style="margin-left:-20px">General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px">High Yield Security Risk | Investments in fixed-income securities that are rated below investment grade (“high yield securities”) by one or more Nationally Recognized Statistical Rating Organization (NRSRO) may be subject to greater risk of loss of principal and interest than investments in higher-rated fixed-income securities. High yield securities are also generally considered to be subject to greater market risk than higher-rated securities. The capacity of issuers of high yield securities to pay interest and repay principal is more likely to weaken than is that of issuers of higher-rated securities in times of deteriorating economic conditions or rising interest rates. In addition, high yield securities may be more susceptible to real or perceived adverse economic conditions than higher-rated securities. The market for high yield securities may be less liquid than the market for higher-rated securities. This can adversely affect the Fund’s ability to buy or sell optimal quantities of high yield securities at desired prices.</li><li style="margin-left:-20px">Interest Rate Risk | When interest rates rise, bond prices fall; the higher the Fund’s duration (a calculation reflecting time risk, taking into account both the average maturity of the Fund’s portfolio and its average coupon return), the more sensitive the Fund is to interest rate risk. </li><li style="margin-left:-20px">Credit Risk | High Yield securities (“junk” bonds) are subject to greater risk of loss than investment grade securities. The degree of risk for a particular security may not be reflected in its credit rating, and high yield securities may be particularly subject to this risk. Bonds rated, at the time of purchase, BB or lower by Standard & Poor’s (“junk” bonds) or, unrated, but determined to be of comparable quality by the Investment Manager, are subject to greater market risk and credit risk, or loss of principal and interest, than higher-rated securities. </li><li style="margin-left:-20px">Sector Risk | If certain industry sectors or types of securities don’t perform as well as the Fund expects, the Fund’s performance could suffer.</li><li style="margin-left:-20px">Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier that other Funds that invest in a broader array of securities.</li><li style="margin-left:-20px">Who Should Buy This Fund | The Fund is most appropriate for investors who want a high level of current income and are willing to accept a significant degree of volatility and risk. </li></ol> As with most other mutual funds, you can lose money by investing in this Fund. 0 0.01 PAST PERFORMANCE The Fund commenced investment operations on May 7, 2007. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up- to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. 0 After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 0 The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. www.timothyplan.com (800) 846-7526 0 The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. 0 Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) -0.2955 <ol><li style="margin-left:-20px"> General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px"> Stock Market Risk | This Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time. </li><li style="margin-left:-20px"> Emerging Market Risk | The Fund’s investments in the securities of emerging countries may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies or funds that invest across a larger spectrum of the foreign market. This is because the securities markets in some emerging countries are relatively small, with a limited number of companies representing a smaller number of industries. Issuers in emerging countries are frequently not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in emerging foreign countries. </li><li style="margin-left:-20px"> Issuer-Specific Changes | The value of an individual security or a particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole.</li><li style="margin-left:-20px"> Currency Risk | Because the securities being purchased by this Fund are frequently foreign stocks denominated in non-U.S. currency, there is a risk that fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of the Fund’s investments in foreign securities.</li><li style="margin-left:-20px"> Larger Company Investing Risk | Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. Also, larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. </li><li style="margin-left:-20px"> Smaller Company Investing Risk | Investing in smaller companies often involves greater risk than investing in larger companies. Smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of smaller companies, therefore, tend to be more volatile than the securities of larger, more established companies. Smaller company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a small-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period. </li><li style="margin-left:-20px">Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities. </li><li style="margin-left:-20px">Growth Risk | This Fund invests in companies after assessing their growth potential. Securities of growth companies may be more volatile than other stocks. If the Investment Manager’s perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the Fund’s return. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities. </li><li style="margin-left:-20px">Who Should Buy This Fund | This Fund is most appropriate for investors who understand the risks of investing in the international stock markets and who are willing to accept significant amounts of volatility and risk.</li></ol> 0.5317 0.1167 0.0403 Best Quarter 0.1262 2002-09-30 0.0598 After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Worst Quarter 2004-06-30 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. -0.0355 Average Annual Total Returns (for periods ending on December 31, 2012) <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Jun-09</center></td><td></td><td><center>Dec-08</center></td></tr> <tr><td></td><td>   </td><td><center>27.25%</center></td><td></td><td><center>-21.55%</center></td></tr></table> Best Quarter As with most other mutual funds, you can lose money by investing in this Fund. 2009-06-30 0.2725 Worst Quarter 2008-12-31 -0.2155 PAST PERFORMANCE 0.045 0 0.057 0 0.01 0.0344 0.0111 0.0311 0.0065 0 0.0065 0 0.0519 -0.0005 0.0865 0 0 0.0546 0 0.0075 0.0711 0.0256 0.006 0.006 This is a new Fund without an operating history. Accordingly, performance information is not available at this time. 0.0046 0.0046 0.0025 0.01 0.0147 0.0147 0.0054 0.0054 This is a new Fund without an operating history. Accordingly, performance information is not available at this time. 0.0258 0.0333 0.0001 0.0001 0.0078 0.0051 0.0422 0.0036 0.014 0.0215 218 673 1154 0.0394 0.0288 0.0311 0.0595 2483 0.0324 0.0223 Example: 0.0217 0.0527 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.0749 0.0544 0.0482 0.1513 0.1074 0.0888 0.0693 0.1513 0.0613 0.0368 0.0371 0.0953 0.0628 0.0411 0.0402 0.0953 797 436 1308 1024 1845 1736 3304 3622 The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. PORTFOLIO TURNOVER The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 33% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Dec-11</center></td><td></td><td><center> Sep-11</center></td></tr> <tr><td></td><td>   </td><td><center>8.42%</center></td><td></td><td><center>-4.57%</center></td></tr></table> The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 0.0527 0.0321 0.0612 www.timothyplan.com (800) 846-7526 The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. As with most other mutual funds, you can lose money by investing in this Fund. 0.0522 0.0283 0.0296 0.0612 Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. 50000 You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. 0.33 2.47 336 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyPlanEmergingMarketsFund column period compact * ~</div> 1024 1736 3622 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyPlanEmergingMarketsFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyPlanHighYieldBondFundBarChart column period compact * ~</div> Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. 0.1294 0.0891 0.0465 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. PRINCIPAL RISKS <ol><li style="margin-left:-20px"> General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px">Stock Market Risk | The Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time. </li><li style="margin-left:-20px"> Foreign Risk | The Fund’s investments in foreign securities may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies. This is because the securities markets of many foreign countries are relatively small, with a limited number of companies representing a smaller number of industries. Foreign issuers are not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in a foreign country. The Fund may invest in emerging markets. Emerging markets expose the Fund to additional risks due to the lack of historical or regulatory controls.</li><li style="margin-left:-20px"> Issuer-Specific Risk | The value of an individual security or a particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. </li><li style="margin-left:-20px">Currency Risk | Because the securities represented by ADRs are foreign stocks denominated in non-U.S. currency, there is a risk that fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of the Fund’s investments in foreign securities.</li><li style="margin-left:-20px">Larger Company Investing Risk | Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. Also, larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. </li><li style="margin-left:-20px">Smaller Company Investing Risk | Investing in smaller companies often involves greater risk than investing in larger companies. Smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of smaller companies, therefore, tend to be more volatile than the securities of larger, more established companies. Smaller company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a small-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period.</li><li style="margin-left:-20px">Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities.</li><li style="margin-left:-20px">Growth Risk | The Fund often invests in companies after assessing their growth potential. Securities of growth companies may be more volatile than other stocks. If the portfolio manager’s perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the Fund’s return. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities. </li><li style="margin-left:-20px">Who Should Buy This Fund | The Fund is most appropriate for investors who understand the risks of investing in the international stock markets and who are willing to accept significant amounts of volatility and risk.</li></ol> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 32% of the average value of its portfolio. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyFixedIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyFixedIncomeFund column period compact * ~</div> 0.32 <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Jun-09</center></td><td></td><td><center>Dec-08</center></td></tr> <tr><td></td><td>   </td><td><center>19.29%</center></td><td></td><td><center>-24.53%</center></td></tr></table> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyFixedIncomeFundBarChart column period compact * ~</div> Shareholder Fees (fees paid directly from your investment) <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyPlanEmergingMarketsFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyPlanEmergingMarketsFund column period compact * ~</div> Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) 0.3881 0.116 -0.0101 0.1969 0.0287 -0.325 0.2005 0.242 -0.0272 0.1709 2003-06-30 0.2035 2008-12-31 -0.2699 <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Jun-03</center></td><td></td><td><center>Dec-08</center></td></tr> <tr><td></td><td>   </td><td><center>20.35%</center></td><td></td><td><center>-26.99%</center></td></tr></table> 0.1065 0.1059 0.0692 0.1635 0.1511 0.1511 0.0982 0.1635 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyAggressiveGrowthFundBarChart column period compact * ~</div> 0.0162 0.0155 0.0133 0.0356 0.02 0.0193 0.0166 0.0356 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothySmallCapValueFund column period compact * ~</div> 0.0742 0.0635 0.0609 0.0972 0.0402 0.028 0.0299 0.0575 <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Sep-02</center></td><td></td><td><center>Jun-04</center></td></tr> <tr><td></td><td>   </td><td><center>5.98%</center></td><td></td><td><center>-3.55%</center></td></tr></table> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothySmallCapValueFund column period compact * ~</div> A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothySmall-CapValueFundBarChart column period compact * ~</div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyAggressiveGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyAggressiveGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyPlanDefensiveStrategiesFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyPlanDefensiveStrategiesFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyPlanDefensiveStrategiesFundBarChart column period compact * ~</div> Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.012 0.0095 0.0078 0.1124 -0.0014 -0.0064 -0.0038 0.0344 Best Quarter 2003-06-30 0.0414 0.0397 0.2022 0.0825 Worst Quarter 2008-12-31 -0.2884 0.0516 0.0516 0.0335 0.1124 0.0026 -0.0012 0.0005 0.0344 0.0308 0.0244 0.0249 0.0616 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleShareholderFeesTimothyIsraelCommonValuesFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposedTimothyIsraelCommonValuesFund column period compact * ~</div> Best Quarter Worst Quarter <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Jun-03</center></td><td></td><td><center>Dec-08</center></td></tr> <tr><td></td><td>   </td><td><center>20.22%</center></td><td></td><td><center>-28.84%</center></td></tr></table> <ol><li style="margin-left:-20px">General Risk | As with most other mutual funds, you can lose money by investing in the Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px">Portfolio Risk | The Fund is indirectly subject to the following risks that are inherent in the Traditional Funds in which the Fund invests:</li></ol><ul type="square"><li style="margin-left:60px"> Stock Market Risk: The Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time.</li></ul><ul type="square"><li style="margin-left:60px"> Larger Company Investing Risk: Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. Also, larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. </li></ul> <ul type="square"><li style="margin-left:60px">Mid-size Company Investing Risk: Investing in mid-sized companies often involves greater risk than investing in larger companies. Mid-sized companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of mid-sized companies, therefore, tend to be more volatile than the securities of larger, more established companies. Mid-sized company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a mid-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period. </li></ul> <ul type="square"><li style="margin-left:60px">Small Company Investing Risk: Investing in smaller companies often involves greater risk than investing in larger companies. Smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of smaller companies, therefore, tend to be more volatile than the securities of larger, more established companies. Smaller company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a small-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period. </li></ul> <ul type="square"><li style="margin-left:60px">Excluded Security Risk: Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities. </li></ul> <ul type="square"><li style="margin-left:60px">Growth Risk: The Fund often invests in companies after assessing their growth potential. Securities of growth companies may be more volatile than other stocks. If the portfolio manager’s perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the Fund’s return. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities. </li></ul> <ul type="square"><li style="margin-left:60px">Value Investing Risk: Because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “value” stocks may perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time. It is also possible that a value stock may never appreciate to the extent expected. </li></ul> <ul type="square"><li style="margin-left:60px">Sector Risk: If certain industry sectors or types of securities don’t perform as well as the Fund expects, the Fund’s performance could suffer. </li></ul> <ul type="square"><li style="margin-left:60px">Foreign Risk: The Fund’s investments in foreign securities may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies. This is because the securities markets of many foreign countries are relatively small, with a limited number of companies representing a smaller number of industries. Foreign issuers are not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in a foreign country. </li></ul><ul type="square"><li style="margin-left:60px">Currency Risk: Because the securities represented by ADRs are foreign stocks denominated in non-U.S. currency, there is a risk that fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of the Fund’s investments in foreign securities. </li></ul><ul type="square"><li style="margin-left:60px">High Yield Security Risk: Investments in fixed-income securities that are rated below investment grade (“high yield securities”) by one or more NRSROs may be subject to greater risk of loss of principal and interest than investments in higher-rated fixed-income securities. High yield securities are also generally considered to be subject to greater market risk than higher-rated securities. The capacity of issuers of high yield securities to pay interest and repay principal is more likely to weaken than is that of issuers of higher-rated securities in times of deteriorating economic conditions or rising interest rates. In addition, high yield securities may be more susceptible to real or perceived adverse economic conditions than higher-rated securities. The market for high yield securities may be less liquid than the market for higher-rated securities. This can adversely affect the Fund’s ability to buy or sell optimal quantities of high yield securities at desired prices. </li></ul><ul type="square"><li style="margin-left:60px">Interest Rate Risk: To the extent that the Fund invests in the High Yield Bond Fund and other fixed income securities, the Fund will be exposed to interest rate risk. When interest rates rise, bond prices fall; the higher the High Yield Bond Fund’s duration (a calculation reflecting time risk, taking into account both the average maturity of the Fund’s portfolio and its average coupon return), the more sensitive the Fund is to interest rate risk. </li></ul><ul type="square"><li style="margin-left:60px">Credit Risk: To the extent that the Fund invests in the High Yield Bond Fund and other fixed income securities, the Fund will be exposed to credit risk. The Fund could lose money if any bonds owned by the High Yield Bond Fund are downgraded in credit rating or go into default. </li></ul><ul type="square"><li style="margin-left:60px">Real Estate Investment Trust Risk: The Fund is subject to the risks experienced in real estate ownership, real estate financing, or both. As the economy is subjected to a period of economic deflation or interest rate increases, the demand for real estate may fall, causing a decline in the value of real estate owned. Also, as interest rates increase, the values of existing mortgages fall. The higher the duration (a calculation reflecting time risk, taking into account the average maturity of the mortgages) of the mortgages held in REITs owned by the Fund, the more sensitive the Fund is to interest rate risks. The Fund is also subject to credit risk; the Fund could lose money if mortgagors default on mortgages held in the REITs. </li></ul><ul type="square"><li style="margin-left:60px"> Commodities-based Exchange Traded Funds Risk: Commodity ETFs invest in Physical Commodities and/or Commodity Futures Contracts, which Contracts are highly leveraged investment vehicles, and therefore generally considered to be high risk. By investing in Commodity ETFs, the Fund assumes portions of that risk. ETFs may only purchase commodities futures contracts (the buy side), therefore the Fund’s risk includes missing opportunities to realize gains by shorting futures contracts (the sell side) in deflationary economic periods. It is possible the Fund’s entire ETF investment could be lost. </li></ul><ul type="square"><li style="margin-left:60px">Treasury-Inflation Protected Securities Risk: Because the real rate of return offered by TIPS, which represents the growth of your purchasing power, is guaranteed by the Federal Government, TIPS may offer a lower return than other fixed income instruments that do not have such guarantees. Other conventional bond issues may offer higher yields, and the Fund may invest in such bond issues if deemed advantageous by the Advisor and Investment Managers. </li></ul><ul type="square"><li style="margin-left:60px">Non-Diversification Risk: Because the Fund may invest in a smaller number of securities, adverse changes to a single security might have a more pronounced negative effect on the Fund than if the Fund’s investments were more widely distributed. </li></ul><ul type="square"><li style="margin-left:60px">Israel Risk: Investments in the securities of Israel may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies or funds that invest across a larger spectrum of the foreign market. This is because the securities market in Israel is relatively small, with a limited number of companies representing a smaller number of industries. Israeli issuers are not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in a foreign country. </li></ul><ul type="square"><li style="margin-left:60px">Emerging Market Risk: The Fund’s investments in the securities of emerging countries may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies or funds that invest across a larger spectrum of the foreign market. This is because the securities markets in some emerging countries are relatively small, with a limited number of companies representing a smaller number of industries. Issuers in emerging countries are frequently not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in emerging foreign countries. </li></ul><table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"><tr><td width="4%" valign="top" align="left">3.            </td><td align="left" valign="top">Who Should Buy This Fund | The Fund is most appropriate for investors who understand the risks of investing in moderately- to aggressively-oriented equity and bond funds and who wish to allocate their investments among multiple funds with a single investment. </td></tr></table> As with most other mutual funds, you can lose money by investing in the Fund. PAST PERFORMANCE The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up- to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. (800) 846-7526 www.timothyplan.com <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Jun-09</center></td><td></td><td><center>Dec-08</center></td></tr> <tr><td></td><td>   </td><td><center>16.44%</center></td><td></td><td><center>-24.40%</center></td></tr></table> Best Quarter Worst Quarter Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) Average Annual Total Returns (for periods ending on December 31, 2012) <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyIsraelCommonValuesFund column period compact * ~</div> A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyIsraelCommonValuesFundBarChart column period compact * ~</div> Israel Common Values Fund CLASS A: TPAIX | CLASS C: TPCIX INVESTMENT OBJECTIVE The investment objective of this Fund is to provide you with long-term growth of capital. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. More information about these and other discounts is available from your financial professional and in “How to Reduce Your Sales Charge” on page 72 of the prospectus and “Purchase, Redemption, and Pricing of Shares” on page 38 of the Funds’ Statement of Additional Information. 0.055 0 Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. Example: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. For each share class offered, the Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and annual Fund operating expenses remain the same for each share class. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0 0.01 The Example does not reflect sales charges (loads) on reinvested dividends and other distributions. If these sales charges (loads) were included, your costs would be higher. 0 0 PORTFOLIO TURNOVER The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. During the Fund’s most recent fiscal year, the Fund’s portfolio turnover rate was 37% of the average value of its portfolio. 0 0 0.37 PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li style="margin-left:-20px"> This Fund seeks to achieve its investment objectives by normally investing at least 80% of the Fund’s total assets in the common stock of companies domiciled and/or headquartered in Israel through the purchase of American Depository Receipts (ADRs) and direct investments in such companies on Foreign stock exchanges, without regard to market capitalizations.</li></ul><ul type="square"><li style="margin-left:-20px"> This Fund invests using a growth investing style. Growth funds generally focus on stocks of companies believed to have above-average potential for growth in revenue, earnings, cash flow, or other similar criteria. These stocks typically have low dividend yields and above-average prices in relation to such measures as earnings and book value. Growth and value stocks have historically produced similar long-term returns, though each category has periods when it outperforms the other.</li></ul><ul type="square"><li style="margin-left:-20px"> The Fund invests its assets in companies which the Fund’s Investment Manager believes show a high probability for superior growth. Companies that meet or exceed specific criteria established by the Manager in the selection process are purchased. Securities are sold when they reach internally determined pricing targets or no longer qualify under the Manager’s investment criteria.</li></ul><ul type="square"><li style="margin-left:-20px"> The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or alternative lifestyles.</li></ul> PRINCIPAL RISKS <ol><li style="margin-left:-20px"> General Risk | As with most other mutual funds, you can lose money by investing in this Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them.</li><li style="margin-left:-20px">Stock Market Risk | The Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time</li><li style="margin-left:-20px"> Israel Risk | The Fund’s investments in the securities of Israel may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies or funds that invest across a larger spectrum of the foreign market. This is because the securities market in Israel is relatively small, with a limited number of companies representing a smaller number of industries. Israeli issuers are not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in a foreign country.</li><li style="margin-left:-20px"> Issuer-Specific Risk | The value of an individual security or a particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. </li><li style="margin-left:-20px"> Country-Specific Risk | The Fund invests only in Israeli securities, and Israel is subject to unique political and economic risks. As a result, Israeli securities can be more volatile than the market as a whole and can perform differently from the value of the market as a whole.</li><li style="margin-left:-20px"> Currency Risk | Because the securities represented by ADRs are foreign stocks denominated in non-U.S. currency, there is a risk that fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of the Fund’s investments in foreign securities.</li><li style="margin-left:-20px"> Larger Company Investing Risk | Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. Also, larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.</li><li style="margin-left:-20px"> Smaller Company Investing Risk | Investing in smaller companies often involves greater risk than investing in larger companies. Smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of smaller companies, therefore, tend to be more volatile than the securities of larger, more established companies. Smaller company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a small-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period.</li><li style="margin-left:-20px"> Excluded Security Risk | Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities.</li><li style="margin-left:-20px"> Growth Risk | The Fund often invests in companies after assessing their growth potential. Securities of growth companies may be more volatile than other stocks. If the portfolio manager’s perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the Fund’s return. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities.</li><li style="margin-left:-20px"> Who Should Buy This Fund | The Fund is most appropriate for investors who understand the risks of investing in the stock market and who are willing to accept significant amounts of volatility and risk.</li></ol> As with most other mutual funds, you can lose money by investing in this Fund. PAST PERFORMANCE 0.01 0.01 The Fund commenced investment operations on October 12, 2012. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up- to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. 0.0025 0.01 The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. (800) 846-7526 www.timothyplan.com 0.0157 0.0153 289 459 Year-by-year Annual Total Returns for Class A Shares (for calendar years ending on December 31) 0.0373 0.0373 0.0242 0.0721 0.0792 0.0792 0.0515 0.0721 The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. 0.0004 0.0004 884 1093 0.0286 0.0357 <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Mar-12</center></td><td></td><td><center>Jun-12</center></td></tr> <tr><td></td><td>   </td><td><center>10.12%</center></td><td></td><td><center>-9.83%</center></td></tr></table> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 1506 1848 Best Quarter 2012-03-31 0.1012 Worst Quarter 0.0209 0.0209 0.0178 2012-06-30 0.0562 0.0611 0.0611 0.052 0.0562 3181 3832 -0.0983 0.0982 236 727 1245 2666 Average Annual Total Returns (for periods ending on December 31, 2012) 0.2796 0.0809 0.0625 0.1041 0.1045 -0.3982 0.284 0.1454 -0.042 0.106 0.0449 0.0427 0.0292 0.1396 0.0876 0.0876 0.057 0.1396 -0.0239 -0.0286 -0.0223 0.0258 -0.0205 -0.0244 -0.0188 0.0258 0.0473 0.0412 0.0399 0.0919 0.0216 0.0158 0.0179 0.0653 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The Fund normally will invest at least 75% of its total assets in the following Traditional Funds according to the following approximate range of percentages: <table cellspacing="0" cellpadding="0" width="70%" border="0" style="BORDER-COLLAPSE:COLLAPSE"><tr><td width="51%"></td><td valign="bottom" width="2%"></td><td width="47%"></td></tr><tr bgcolor="#7f7f7f"><td valign="bottom" style="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">Timothy Plan Traditional Fund</td><td valign="bottom" style="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">  </td><td valign="bottom" style="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> % of Fund’s Net AssetsInvested in Traditional Fund</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Small Cap Value Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">5 - 10%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Large/Mid Cap Value Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">15 - 25%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f">Large/Mid Cap Growth Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">15 - 25%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Aggressive Growth Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">   </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">5 - 10%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> High Yield Bond Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">   </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">5 - 15%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> International Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">   </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">20 - 30%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Israel Common Values Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">   </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">5 - 10%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Emerging Markets Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">5 - 10%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #000000"> Defensive Strategies Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #000000">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #000000">5 - 15%</td></tr></table> Timothy Partners, Ltd. (“TPL”) will determine the specific asset allocation program on a continuous basis, based on its forecast of the overall market. On each day that the Fund is open for business, TPL will review the asset allocation program and reallocate, as necessary, for any new funds invested in the Fund. The Advisor also will reallocate the Fund’s investments in the Traditional Funds at the end of each fiscal quarter to maintain the asset allocation program. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. 50000 Average Annual Total Returns (for periods ending on December 31, 2012) <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpensesTimothyIsraelCommonValuesFund column period compact * ~</div> with a secondary objective of current income. <ol><li style="margin-left:-20px"> General Risk | As with most other mutual funds, you can lose money by investing in the Fund. Share prices fluctuate from day to day, and when you sell your shares, they may be worth less than you paid for them. </li> <li style="margin-left:-20px"> Portfolio Risk | The Fund is indirectly subject to the following risks that are inherent in the Traditional Funds in which the Fund invests: </li></ol> <ul type="square"><li style="margin-left:60px">Stock Market Risk: The Fund is an equity fund, so it is subject to the risks inherent in the stock market in general. The stock market is cyclical, with prices generally rising and falling over periods of time. Some of these price cycles can be pronounced and last for a long time.</li></ul> <ul type="square"><li style="margin-left:60px">Larger Company Investing Risk: Larger, more established companies may be unable to respond quickly to new competitive challenges like changes in consumer tastes or innovative smaller competitors. Also, larger companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. </li></ul><ul type="square"><li style="margin-left:60px">Mid-size Company Investing Risk: Investing in mid-sized companies often involves greater risk than investing in larger companies. Mid-sized companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of mid-sized companies, therefore, tend to be more volatile than the securities of larger, more established companies. Mid-sized company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a mid-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period. </li></ul> <ul type="square"><li style="margin-left:60px">Small Company Investing Risk: Investing in smaller companies often involves greater risk than investing in larger companies. Smaller companies may not have the management experience, financial resources, product diversification and competitive strengths of larger companies. The securities of smaller companies, therefore, tend to be more volatile than the securities of larger, more established companies. Smaller company stocks tend to be bought and sold less often and in smaller amounts than larger company stocks. Because of this, if a fund wants to sell a large quantity of a small-sized company’s stock, it may have to sell at a lower price than would otherwise be indicated, or it may have to sell in smaller than desired quantities over an increased time period. </li></ul> <ul type="square"><li style="margin-left:60px">Excluded Security Risk: Because the Fund does not invest in Excluded Securities, and will divest itself of securities that are subsequently discovered to be ineligible, the Fund may be riskier than other funds that invest in a broader array of securities. </li></ul> <ul type="square"><li style="margin-left:60px">Growth Risk: The Fund often invests in companies after assessing their growth potential. Securities of growth companies may be more volatile than other stocks. If the portfolio manager’s perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the Fund’s return. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities. </li></ul> <ul type="square"><li style="margin-left:60px">Value Investing Risk: Because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “value” stocks may perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time. It is also possible that a value stock may never appreciate to the extent expected. </li></ul> <ul type="square"><li style="margin-left:60px">Sector Risk: If certain industry sectors or types of securities don’t perform as well as the Fund expects, the Fund’s performance could suffer. </li></ul> <ul type="square"><li style="margin-left:60px">Foreign Risk: The Fund’s investments in foreign securities may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies. This is because the securities markets of many foreign countries are relatively small, with a limited number of companies representing a smaller number of industries. Foreign issuers are not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in a foreign country. </li></ul> <ul type="square"><li style="margin-left:60px">Currency Risk: Because the securities represented by ADRs are foreign stocks denominated in non-U.S. currency, there is a risk that fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of the Fund’s investments in foreign securities. </li></ul> <ul type="square"><li style="margin-left:60px">High Yield Security Risk: Investments in fixed-income securities that are rated below investment grade (“high yield securities”) by one or more NRSROs may be subject to greater risk of loss of principal and interest than investments in higher-rated fixed-income securities. High yield securities are also generally considered to be subject to greater market risk than higher-rated securities. The capacity of issuers of high yield securities to pay interest and repay principal is more likely to weaken than is that of issuers of higher— rated securities in times of deteriorating economic conditions or rising interest rates. In addition, high yield securities may be more susceptible to real or perceived adverse economic conditions than higher-rated securities. The market for high yield securities may be less liquid than the market for higher-rated securities. This can adversely affect the Fund’s ability to buy or sell optimal quantities of high yield securities at desired prices. </li></ul> <ul type="square"><li style="margin-left:60px">Interest Rate Risk: To the extent that the Fund invests in the High Yield Bond Fund and other fixed income securities, the Fund will be exposed to interest rate risk. When interest rates rise, bond prices fall; the higher the High Yield Bond Fund’s duration (a calculation reflecting time risk, taking into account both the average maturity of the Fund’s portfolio and its average coupon return), the more sensitive the Fund is to interest rate risk. </li></ul> <ul type="square"><li style="margin-left:60px">Credit Risk: To the extent that the Fund invests in the High Yield Bond Fund and other fixed income securities, the Fund will be exposed to credit risk. The Fund could lose money if any bonds owned by the High Yield Bond Fund are downgraded in credit rating or go into default. </li></ul> <ul type="square"><li style="margin-left:60px">Real Estate Investment Trust Risk: The Fund is subject to the risks experienced in real estate ownership, real estate financing, or both. As the economy is subjected to a period of economic deflation or interest rate increases, the demand for real estate may fall, causing a decline in the value of real estate owned. Also, as interest rates increase, the values of existing mortgages fall. The higher the duration (a calculation reflecting time risk, taking into account the average maturity of the mortgages) of the mortgages held in REITs owned by the Fund, the more sensitive the Fund is to interest rate risks. The Fund is also subject to credit risk; the Fund could lose money if mortgagors default on mortgages held in the REITs. </li></ul> <ul type="square"><li style="margin-left:60px">Commodities-based Exchange Traded Funds Risk: Commodity ETFs invest in Physical Commodities and/or Commodity Futures Contracts, which Contracts are highly leveraged investment vehicles, and therefore generally considered to be high risk. By investing in Commodity ETFs, the Fund assumes portions of that risk. ETFs may only purchase commodities futures contracts (the buy side), therefore the Fund’s risk includes missing opportunities to realize gains by shorting futures contracts (the sell side) in deflationary economic periods. It is possible the Fund’s entire ETF investment could be lost. </li></ul> <ul type="square"><li style="margin-left:60px">Treasury-Inflation Protected Securities Risk: Because the real rate of return offered by TIPS, which represents the growth of your purchasing power, is guaranteed by the Federal Government, TIPS may offer a lower return than other fixed income instruments that do not have such guarantees. Other conventional bond issues may offer higher yields, and the Fund may invest in such bond issues if deemed advantageous by the Advisor and Investment Managers. </li></ul> <ul type="square"><li style="margin-left:60px">Non-Diversification Risk: Because the Fund may invest in a smaller number of securities, adverse changes to a single security might have a more pronounced negative effect on the Fund than if the Fund’s investments were more widely distributed. </li></ul> <ul type="square"><li style="margin-left:60px">Israel Risk: Investments in the securities of Israel may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies or funds that invest across a larger spectrum of the foreign market. This is because the securities market in Israel is relatively small, with a limited number of companies representing a smaller number of industries. Israeli issuers are not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in a foreign country. </li></ul> <ul type="square"><li style="margin-left:60px">Emerging Market Risk | The Fund’s investments in the securities of emerging countries may experience more rapid and extreme changes in value than funds with investments solely in securities of U.S. companies or funds that invest across a larger spectrum of the foreign market. This is because the securities markets in some emerging countries are relatively small, with a limited number of companies representing a smaller number of industries. Issuers in emerging countries are frequently not subject to the same degree of regulation as U.S. issuers. Also, nationalization, expropriation or confiscatory taxation or political changes could adversely affect the Fund’s investments in emerging foreign countries. </li></ul> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"><tr><td width="4%" valign="top" align="left">3.            </td><td align="left" valign="top">Who Should Buy This Fund | The Fund is most appropriate for investors who understand the risks of investing in moderately risk-oriented equity and bond funds, but who also wish to realize current income and allocate their investments among multiple funds with a single investment.</td></tr></table> <ul type="square"><li>Non-Diversification Risk: Because the Fund may invest in a smaller number of securities, adverse changes to a single security might have a more pronounced negative effect on the Fund than if the Fundinvestments were more widely distributed. </li></ul> As with most other mutual funds, you can lose money by investing in the Fund. The Fund normally will invest at least 75% of its total assets in the following Traditional Funds according to the following approximate range of percentages: <table cellspacing="0" cellpadding="0" width="70%" border="0" style="BORDER-COLLAPSE:COLLAPSE"><tr><td width="51%"></td><td valign="bottom" width="2%"></td><td width="47%"></td></tr><tr bgcolor="#7f7f7f"><td valign="bottom" style="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">Timothy Plan Traditional Fund</td><td valign="bottom" style="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">  </td><td valign="bottom" style="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> % of Fund’s Net AssetsInvested in Traditional Fund</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Small Cap Value Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">0 - 10%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Large/Mid Cap Value Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">10 - 20%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Large/Mid Cap Growth Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">5 - 15%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Aggressive Growth Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">0 - 5%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> High Yield Bond Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">5 - 15%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Fixed Income Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">20 - 40%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #000000"> International Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">5 - 15%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Israel Common Values Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">0 - 5%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #7f7f7f"> Emerging Markets Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #7f7f7f">0 - 5%</td></tr><tr><td valign="top" style="BORDER-BOTTOM:1px solid #000000"> Defensive Strategies Fund</td><td valign="bottom" style="BORDER-BOTTOM:1px solid #000000">  </td><td valign="bottom" style="BORDER-BOTTOM:1px solid #000000">10 - 30%</td></tr></table> Timothy Partners, Ltd. (“TPL”) will determine the specific asset allocation program on a continuous basis, based on its forecast of the overall market. On each day that the Fund is open for business, TPL will review the asset allocation program and reallocate, as necessary, for any new funds invested in the Fund. The Advisor also will reallocate the Fund’s investments in the Traditional Funds at the end of each fiscal quarter to maintain the asset allocation program. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More up-to-date returns are available on the Fund’s website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. (800) 846-7526 www.timothyplan.com The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. 0.2022 0.0641 0.0556 0.0986 0.0885 -0.2888 0.2223 0.1157 0.0121 0.0704 <table border="0"> <tr><td></td><td></td><td><center>Best</center></td><td>        </td><td><center>Worst</center></td></tr> <tr><td></td><td></td><td><center>Quarter</center></td><td>        </td><td><center>Quarter</center></td></tr><tr><td></td><td>      </td><td><center>Jun-09</center></td><td></td><td><center>Dec-08</center></td></tr> <tr><td></td><td>   </td><td><center>12.63%</center></td><td></td><td><center>-17.02%</center></td></tr></table> Best Quarter 2009-06-30 0.1263 Worst Quarter 2008-12-31 -0.1702 0.0483 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyConservativeGrowthFund column period compact * ~</div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyConservativeGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyConservativeGrowthFundBarChart column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyIsraelCommonValuesFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsTimothyStrategicGrowthFundBarChart column period compact * ~</div> The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. Best Quarter 2011-12-31 0.0842 Worst Quarter 2011-09-30 -0.0457 2012-10-12 2012-10-12 2012-10-12 2012-10-12 2012-10-12 2012-10-12 2012-10-12 2012-10-12 The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Fund’s performance from year to year and by comparing the Fund’s performance to a broad based index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust’s Distributor, Timothy Partners, Ltd., will pay a finders’ fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. 50000 You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Timothy Plan Funds. The bar chart does not reflect sales charges. If these charges were reflected, the returns would be less than those shown. <ul type="square"><li style="margin-left:60px">Non-Diversification Risk: Because the Fund may invest in a smaller number of securities, adverse changes to a single security might have a more pronounced negative effect on the Fund than if the Fund’s investments were more widely distributed. </li></ul> -0.244 2008-12-31 2009-06-30 0.1644 <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"><tr><td width="4%" valign="top" align="left">9.            </td><td align="left" valign="top">Non-Diversification Risk | Because the Fund may invest in a smaller number of securities, adverse changes to a single security might have a more pronounced negative effect on the Fund than if the Fund’s investments were more widely distributed.</td></tr></table> 0.0322 0.0704 810 460 1367 1094 1949 1850 3517 3836 360 1094 1850 3836 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTimothyStrategicGrowthFund column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTimothyStrategicGrowthFund column period compact * ~</div> Real Estate Investment Trusts (REITs), that invest in different kinds of real estate or real estate related assets, including shopping centers, office buildings, hotels, and mortgages secured by real estate, all of which are historically sensitive to both inflation and deflation. 586 318 873 673 1181 1154 2054 2483 A one percent (1%) contingent deferred sales charge is imposed on any Class C shares sold within the first thirteen months after purchase. The Trust's Distributor, Timothy Partners, Ltd., will pay a finders' fee of 1% of the proceeds invested to brokers that purchase shares of the Funds in amounts from $1 million to $2 million, 0.75% on the next $1 million, 0.50% on the next $2 million, and 0.25% on all amounts in excess of $5 million. In such cases, those purchases will be subject to a contingent deferred sales charge of 1% for 18 months after the date of purchase. Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The Fund commenced investment operations on October 12, 2012. The MSCI EAFE Index is a free float-adjusted market capitalization index that is designed to measure the equity market performance of 21 developed markets, excluding the U.S. and Canada. The Russell Mid Cap Growth Index is a widely recognized, unmanaged index of Mid Capitalization growth companies in the United States. The Index assumes reinvestment of all dividends and distributions and does not reflect any asset-based charges for investment management or other expenses.