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pure iso4217:USD <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> 2017-01-30 485BPOS 2016-09-30 TIMOTHY PLAN 0000916490 false 2017-01-30 2017-01-30 Aggressive Growth Fund CLASS I:    TIAGX 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. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.0085 0 0.0059 0.0004 0.0148 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 151 468 808 1768 Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. 151 468 808 1768 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 124% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>The 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></ul><ul type="square"><li>The 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>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></ul><ul type="square"><li>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>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">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">Investing In Other Funds Risk | The Fund invests in the securities of other investment companies. To the extent that the Fund invests in other mutual funds, exchange traded funds and other commingled funds, it will indirectly bear the expenses of those funds, which will cause the Fund’s return to be lower.</li><li style="margin-left:-20px">High Portfolio Turnover Risk | The Fund has a history of high (greater than 100%) portfolio turnover. 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.</li></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</div> 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. Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Sept-10</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sept-15</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 15.57%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-11.66%</td></tr> </table> Average Annual Total Returns (for periods ending on December 31, 2016) -0.0014 -0.0014 -0.0008 0.0733 0.0282 0.0061 0.0216 0.0825 0.0594 -0.0552 -0.0014 Best Quarter 2010-09-30 0.1557 Worst Quarter 2015-09-30 -0.1166 2013-08-01 2013-08-01 2013-08-01 2013-08-01 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 Funds Fees and Expenses. 1.24 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. www.timothyplan.com (800) 846-7526 The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 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. After-tax returns displayed are for Class I shares only, and after-tax returns for other classes may vary. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000015 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000023 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000024 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000026 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000027 column period compact * ~</div> International Fund CLASS I:    TPIIX 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. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.01 0 0.0045 0.0003 0.0148 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 151 468 808 1768 Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. 151 468 808 1768 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 28% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>The Fund seeks to achieve its investment objectives by normally investing at least 80% of the Funds total assets in the securities of foreign companies (companies domiciled in countries other than the United States) through the purchase of American Depositary Receipts (ADRs), without regard to market capitalizations.</li></ul><ul type="square"><li>The 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>The Fund invests its assets in the ADRs of companies which the Funds 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 Managers investment criteria.</li></ul><ul type="square"><li>The Fund allocates investments across countries and regions at the Managers discretion.</li></ul><ul type="square"><li>The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Funds principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Funds assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li>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">Foreign Risk | The Funds 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 Funds 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 Funds 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 companys 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 managers perception of a companys growth potential is not realized, the securities purchased may not perform as expected, reducing the Funds 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></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">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.</div> 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Dec-13</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sept-15</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 8.51%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-8.12%</td></tr> </table> Average Annual Total Returns (for periods ending on December 31, 2016) -0.0119 -0.0152 -0.0045 -0.0188 0.0091 0.0057 0.0069 -0.0098 -0.0457 -0.0141 -0.0119 Best Quarter 2013-12-31 0.0851 Worst Quarter 2015-09-30 -0.0812 2013-08-01 2013-08-01 2013-08-01 2013-08-01 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 Funds Fees and Expenses. 0.28 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. (800) 846-7526 www.timothyplan.com The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 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. After-tax returns displayed are for Class I shares only, and after-tax returns for other classes may vary. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000025 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000033 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000034 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000036 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000037 column period compact * ~</div> Large/Mid Cap Growth Fund CLASS I:    TPLIX 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. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.0085 0 0.0044 0.0002 0.0131 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 133 415 718 1579 Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. 133 415 718 1579 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 71% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>The Fund seeks to achieve its investment objective by primarily investing at least 80% of the Funds 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 Funds investment objective.</li></ul><ul type="square"><li>The 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>The Fund normally invests in a portfolio of securities which includes a broadly diversified number of common stocks that the Funds Investment Manager believes show a high probability of superior prospects for above average growth. The Funds 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 Managers investment criteria.</li></ul><ul type="square"><li>The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Funds principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Funds assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li>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">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 managers perception of a companys growth potential is not realized, the securities purchased may not perform as expected, reducing the Funds 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 companys 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></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</div> 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> March-12</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sept-15</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 14.84%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-7.14%</td></tr> </table> Average Annual Total Returns (for periods ending on December 31, 2016) 0.0715 0.0686 0.043 0.0708 0.0747 0.0481 0.0527 0.1103 0.1076 -0.011 0.0715 Best Quarter 2012-03-31 0.1484 Worst Quarter 2015-09-30 -0.0714 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 Funds Fees and Expenses. 0.71 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. (800) 846-7526 www.timothyplan.com The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 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. After-tax returns displayed are for Class I shares only, and after-tax returns for other classes may vary. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000035 column period compact * ~</div> 2013-08-01 2013-08-01 2013-08-01 2013-08-01 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000043 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000044 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000046 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000047 column period compact * ~</div> Small Cap Value Fund CLASS I:    TPVIX INVESTMENT OBJECTIVE The investment objective of this Fund is to provide you with long-term growth of capital, 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. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.0085 0 0.0041 0.0004 0.013 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 132 412 713 1568 Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. 132 412 713 1568 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 73% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>The Fund seeks to achieve its investment objective by primarily investing at least 80% of the Funds 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. The 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>In determining whether to invest in a particular company, the Funds Investment Manager focuses on a number of different attributes of the company, including the companys 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 Managers investment criteria.</li></ul><ul type="square"><li>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>The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Funds principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Funds assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li>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">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 companys 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 Funds 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 Funds 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 Funds 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></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</div> 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Dec-16</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sept-15</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 11.49%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-7.19%</td></tr> </table> Average Annual Total Returns (for periods ending on December 31, 2016) 0.244 0.2402 0.1413 0.2131 0.1042 0.0721 0.0732 0.0902 0.0524 -0.0637 0.244 Best Quarter 2016-12-31 0.1149 Worst Quarter 2015-09-30 -0.0719 2013-08-01 2013-08-01 2013-08-01 2013-08-01 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 Funds Fees and Expenses. 0.73 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. (800) 846-7526 www.timothyplan.com The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 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. After-tax returns displayed are for Class I shares only, and after-tax returns for other classes may vary. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000045 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000053 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000054 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000056 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000057 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000063 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000064 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000066 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000067 column period compact * ~</div> Large/Mid Cap Value Fund CLASS I:    TMVIX INVESTMENT OBJECTIVE The investment objective of this Fund is to provide you with long-term growth of capital, 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. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0085 0 0.004 0.0005 0.013 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 132 412 713 1568 Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. 132 412 713 1568 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 45% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>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 Funds total assets in companies whose total market capitalization exceeds $2 billion. The 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>In determining whether to invest in a particular company, the Funds Investment Manager focuses on a number of different attributes of the company, including the companys 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 Managers investment criteria.</li></ul><ul type="square"><li>The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Funds principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Funds assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li>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">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 companys 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></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</div> 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Dec-14</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sep-14</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 13.37%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-9.62%</td></tr> </table> Average Annual Total Returns (for periods ending on December 31, 2016) 0.0878 0.0847 0.0523 0.1196 0.0793 0.0576 0.0597 0.1059 0.1129 -0.0181 0.0878 Best Quarter 2014-12-31 0.1337 Worst Quarter 2014-09-30 -0.0962 2013-08-01 2013-08-01 2013-08-01 2013-08-01 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 Funds Fees and Expenses. 0.45 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. (800) 846-7526 www.timothyplan.com The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 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. After-tax returns displayed are for Class I shares only, and after-tax returns for other classes may vary. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000055 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000083 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000084 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000086 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000087 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000093 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000094 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000096 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000097 column period compact * ~</div> Israel Common Values Fund CLASS I:    TICIX Defensive Strategies Fund CLASS I:    TPDIX INVESTMENT OBJECTIVE INVESTMENT OBJECTIVE The investment objective of this Fund is to provide you with long-term growth of capital. The investment objective of this Fund is the protection of principal through aggressive, proactive reactions to prevailing economic conditions. FEES AND EXPENSES FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.01 0.006 0 0 0.0072 0.0058 0.0003 0.0014 0.0175 0.0132 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 Funds Fees and Expenses. 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 Funds Fees and Expenses. Example: 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 178 134 551 418 949 Fixed Income Fund CLASS I:    TPFIX 723 2062 1590 INVESTMENT OBJECTIVE The investment objective of this Fund is to generate a high level of current income consistent with prudent investment risk. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.006 0 0.0036 0.0002 0.0098 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 100 312 542 1201 Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. 100 312 542 1201 Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 40% of the average value of its portfolio. Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>To achieve its goal, the Fund normally invests at least 80% of its assets 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 & Poors 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 Funds Investment Manager has determined that the security is of comparable credit quality to similar rated securities.</li></ul><ul type="square"><li>In managing its portfolio, the Funds 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 Managers investment criteria.</li></ul><ul type="square"><li>The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Funds principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Funds assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li>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> PORTFOLIO TURNOVER PORTFOLIO TURNOVER 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">Interest Rate Risk | When interest rates rise, bond prices fall; the higher the Funds duration (a calculation reflecting time risk, taking into account both the average maturity of the Funds portfolio and its average coupon return), the more sensitive the Fund is to interest rate risk. Currently, interest rates are at historical lows. A change in the economic environment that causes interest rates to rise back to more historically normal levels could have a pronounced negative effect on the Fund.</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 & Poors 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 dont perform as well as the Fund expects, the Funds 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></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000103 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000104 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000106 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000107 column period compact * ~</div> 178 551 949 2062 134 418 723 1590 PAST PERFORMANCE 0.38 The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) 0.58 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 38% of the average value of its portfolio. <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Mar-16</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Dec-16</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 2.65%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-2.74%</td></tr> </table> 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 58% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>The Fund seeks to achieve its investment objectives by normally investing at least 80% of the Funds total assets in the common stock of companies domiciled and/or headquartered in Israel through the purchase of American Depositary Receipts (ADRs) and direct investments in such companies on foreign stock exchanges, without regard to market capitalizations.</li></ul><ul type="square"><li>The 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>The Fund invests its assets in companies which the Funds 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 Managers investment criteria.</li></ul><ul type="square"><li>The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Funds principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Funds assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li>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> To achieve its goal, the Fund will invest varying percentages of the Funds total assets in the investment sectors set forth below:<ul type="square"><li>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>Commodities-based securities, including but not limited to, exchange traded funds (ETFs), other pooled investment fund securities, and commodities-related stocks, for the purpose of providing the opportunity to invest in inflation sensitive physical commodities and/or commodities futures markets . ETFs are investment securities that are registered as investment companies and invest in a basket of other securities, mostly common stocks, that are included in a specific index. Pooled investment fund securities are securities that invest in a basket of other securities, mainly stocks, but are not registered as investment companies and do not trade on an exchange.</li></ul><ul type="square"><li>Various Fixed Income securities and Treasury-Inflation Protection Securities (TIPS). TIPS have coupon payments and underlying principal that are automatically increased to compensate for inflation as measured by the consumer price index (CPI). The fixed income securities in which the Fund may invest, other than TIPS, include U.S. Treasury bills, notes and bonds, corporate notes and bonds, and federal agency-issued securities.</li></ul><ul type="square"><li>Cash and cash equivalents.</li></ul><ul type="square"><li>During times of significant market upheaval, the Fund may take positions that are inconsistent with the Funds principal investment strategies. During such times, the Fund may take large, small, or even no position in any one or more of the Asset Classes, may invest in gold and other eligible precious metals to the maximum extent allowed, and/or may hold some or all of the Funds assets in cash and/or cash equivalents. When the Fund takes such positions, it will not be investing in accordance with its principal investment strategies and may not achieve its stated investment objective.</li></ul><ul type="square"><li>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>Current income is not a significant investment consideration and any such income realized will be considered incidental to the Funds investment objective. To allow for optimal flexibility, the Fund is classified as a non-diversified fund, and, as such the Funds portfolio may include the securities of a smaller total number of issuers than if the Fund were classified as diversified.</li></ul> PRINCIPAL RISKS 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">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 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. The Funds 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 Funds investments in a foreign country.</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 Funds 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 companys 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 managers perception of a companys growth potential is not realized, the securities purchased may not perform as expected, reducing the Funds 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></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</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">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 | 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 Funds risk includes missing opportunities to realize gains by shorting futures contracts (the sell side) in deflationary economic periods. It is possible the Funds 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 Funds duration (a calculation reflecting time risk, taking into account both the average maturity of the Funds 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 & Poors, 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 dont perform as well as the Fund expects, the Funds 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 will have a more pronounced negative effect on the Fund than if the Funds investments were more widely distributed.</li><li style="margin-left:-20px">Precious Metals Risk | The Funds gold and silver may be subject to loss, damage, theft, or restriction on access, and the Funds recovery may be limited, even in the event of fraud, to the market value of the metals at the time the fraud is discovered. International crises may motivate large-scale sales of precious metals which could decrease their prices and adversely affect the value of the Shares. The price of metals may also be adversely affected by the sale of gold or silver by ETFs or other exchange traded vehicles tracking the precious metals markets. In the event of the insolvency of the Custodian, a liquidator may seek to freeze access to the metals held in all of the accounts held by the Custodian, including the Funds Allocated Account. Although the Fund would retain legal title to the allocated gold and silver bars, the Fund could incur expenses in connection with obtaining control of the allocated gold or silver, and the assertion of a claim by such liquidator for unpaid fees could delay redemptions.</li></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</div> Average Annual Total Returns (for periods ending on December 31, 2016) 0.0225 0.0136 0.0128 0.0265 0.0187 0.0073 0.0092 0.0291 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000113 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000114 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000116 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000117 column period compact * ~</div> Emerging Markets Fund CLASS I:    TIEMX Growth & Income Fund CLASS I:    TIGIX 0.0467 -0.0084 0.0225 Best Quarter 2016-03-31 0.0265 Worst Quarter 2016-12-31 -0.0274 2013-08-01 2013-08-01 2013-08-01 2013-08-01 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 Funds Fees and Expenses. 0.4 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. (800) 846-7526 www.timothyplan.com The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 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. After-tax returns displayed are for Class I shares only, and after-tax returns for other classes may vary. INVESTMENT OBJECTIVE INVESTMENT OBJECTIVE The investment objective of this Fund is to provide total return through a combination of growth and income and preservation of capital in declining markets. The investment objective of this Fund is to provide you with long-term growth of capital. FEES AND EXPENSES FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.012 0.0085 0 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000065 column period compact * ~</div> 0 0.0122 0.0047 0.0001 0.0002 0.0133 0.0244 Example: 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 247 136 761 423 1301 731 2776 1607 Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. PORTFOLIO TURNOVER 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 45% of the average value of its portfolio. 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 funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 24% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>To achieve its goals, the Fund primarily invests in equity securities of foreign and domestic companies that the Advisor believes are undervalued, and in fixed income securities. The Fund will normally hold both equity securities and fixed income securities, with at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities.</li></ul><ul type="square"><li>The Fund principally invests in common stocks, preferred stocks and exchange traded funds (ETFs) that invest primarily in equity securities. Some or all of the equity portion of the Fund may be invested in small and micro capitalization companies. Fixed income securities that the Fund principally invests in are U.S. government securities, corporate bonds, municipal bonds and/or sovereign bonds of any maturity, as well as ETFs that invest primarily in such securities. Any non-US government securities in the Funds portfolio consist primarily of issues rated Baa2 or better by Moodys Investors Service, Inc. (Moodys) or BBB or better by Standard & Poors Ratings Group (S&P) and unrated securities determined by the Advisor to be of equivalent quality, as well as high quality money market instruments. The Fund attempts to provide a total return in excess of the rate of inflation over the long term (3 to 5 years).</li></ul><ul type="square"><li>The Funds Investment Manager reviews the various sectors looking for historical patterns of undervalue or overvalue in an effort to identify appropriate fixed income securities to purchase. The Investment Manager also analyzes interest rate risk in the bond market and makes adjustments in the maturities of bonds to adjust for this risk. Lastly, if a bond is being downgraded, or the company has other issues that may affect the bond, the Investment Manager reviews it to see if the bond should be sold.</li></ul><ul type="square"><li>The Funds portfolios duration is adjusted based on a regularly conducted analysis of the interest rate risk. Typically, the duration of the Funds bond portfolio runs between 1 and 8 years. The Investment Manager shortens portfolio durations when its research indicates a rising interest rate environment to preserve capital and may increase exposure to callable bonds. The Investment Manager also monitors spreads between U.S. Treasury securities and corporate and sovereign bonds, and adjusts the Funds mix of securities in response to changes in those spreads.</li></ul><ul type="square"><li>The Funds equity securities are sold when such considerations as valuation, earnings and relative price strength are determined to warrant a sale. The Investment Manager reviews a stock if there is a major change in its corporate structure or management.</li></ul><ul type="square"><li>This Fund may purchase ETFs or ADRs of countries or companies that are emerging. Since the Fund is limited to investment grade bonds, it rarely invests in emerging market fixed income securities.</li></ul><ul type="square"><li>The Fund purchases ETFs in order to gain exposure in certain foreign markets or to purchase securities not represented in a direct manner on the stock exchanges. Index ETFs are utilized to gain exposure to a desirable market that is less liquid than the U.S. markets or where individual stocks are illiquid.</li></ul><ul type="square"><li>The Funds ETF valuations are based on the Investment Managers determination of risk in the areas they represent. If the Investment Manager determines that an area is undervalued and has lower risk characteristics, then it may conclude that the representative ETF is likely to be undervalued and appropriate for the Fund. The Investment Manager analyzes current market Price Earnings ratios, Price to Book ratios and other ratios compared to historic ratios, as well as trends in economic activity, stability of governments and global developments to determine if an ETF is appropriate for the Fund. Only ETFs that are trading close to NAV are selected for purchase.</li></ul><ul type="square"><li>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>The Fund seeks to achieve its investment objectives by normally investing at least 80% of the Funds total assets in equity securities of companies that are either located in emerging markets or that have at least more than 50% of their assets or revenue derived from emerging markets. These companies may have market capitalizations of any size. Equity securities include common and preferred stocks, American Depositary receipts (ADRs), warrants and rights. Emerging markets include some or all of the countries located in each of the following regions: Asia, Europe, Central and South America, Africa and the Middle East. The Investment Manager considers an emerging market country to be any country which is in the Morgan Stanley Capital International Emerging Markets Index (MSCI EM Index) or that, in the opinion of the Investment Manager, is generally considered to be an emerging market country by the international financial community.</li></ul><ul type="square"><li>The Fund uses the principles of value investing to analyze and select equity securities for the Funds investment portfolio. When buying equity securities, the Investment Manager assesses the estimated intrinsic value of a company based on data such as a companys earnings power, cash flow generation, and/or asset value of the underlying business. By choosing securities that are selling at a discount to the Investment Managers estimates of their share of the companys intrinsic business value, the Investment Manager seeks to establish an opportunity for long-term capital appreciation. The Investment Manager may sell a security when its price reaches a target set by the Investment Manager, if the Investment Manager believes that other investments are more attractive, or for other reasons.</li></ul><ul type="square"><li>The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Funds 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 Funds assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li>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 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 | Overall stock market risks may affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels, and political events affect the securities markets. When the value of the Funds investments goes down, your investment in the Fund decreases in value and you could lose money.</li><li style="margin-left:-20px">Fixed Income Risk | The Fund invests in fixed income securities. These securities will increase or decrease in value based on changes in interest rates. If rates increase, the value of the Funds fixed income securities generally will decline, and those securities with longer terms generally will decline more. Your investment will decline in value if the value of the Funds investments decreases. There is a risk that issuers and counterparties will not make payments on fixed income securities and repurchase agreements held by the Fund. Such defaults could result in losses to the Fund. Securities with lower credit quality have a greater risk of default. In addition, the credit quality of securities held by the Fund may be lowered if an issuers financial condition changes. Lower credit quality may lead to greater volatility in the price of a security and in shares of the Fund. Lower credit quality also may affect liquidity and make it difficult for the Fund to sell the security.</li><li style="margin-left:-20px">Management Risk | The Advisors judgments about the attractiveness, value and potential appreciation of a particular asset class or individual security in which the Fund invests may prove to be incorrect. The Fund may experience losses regardless of the overall performance of the market.</li><li style="margin-left:-20px">Small Cap Company Risk | Smaller capitalization companies may experience higher failure rates than do larger capitalization companies. In addition, smaller companies may be more vulnerable to economic, market and industry changes. As a result, share price changes may be more sudden or erratic than the prices of other equity securities, especially over the short term. Such companies may have limited product lines, markets or financial resources and may lack management depth. The trading volume of securities of smaller capitalization companies is normally less than that of larger capitalization companies, and therefore may disproportionately affect their market price, tending to make them fall more in response to selling pressure than is the case with larger capitalization companies. Some small capitalization stocks may be illiquid. These risks may be enhanced for micro-cap securities. Many micro-cap companies tend to be new and have no proven track record. Some of these companies have no assets or operations, while others have products and services that are still in development or have yet to be tested in the market. Because micro-cap stocks trade in low volumes, any size of trade can have a large percentage impact on the price of the stock.</li><li style="margin-left:-20px">Foreign Investment Risk | Foreign investing involves risks not typically associated with U.S. investments. These risks include, among others, adverse fluctuations in foreign currency values as well as adverse political, social and economic developments affecting a foreign country. In addition, foreign investing involves less publicly available information, and more volatile or less liquid securities markets. Investments in foreign countries could be affected by factors not present in the U.S., such as restrictions on receiving the investment proceeds from a foreign country, foreign tax laws, and potential difficulties in enforcing contractual obligations. Foreign accounting may be less transparent than U.S. accounting practices and foreign regulation may be inadequate or irregular. Owning foreign securities could cause the Funds performance to fluctuate more than if it held only U.S. securities.</li><li style="margin-left:-20px">Municipal Securities Risk | The power or ability of an issuer to make principal and interest payments on municipal securities may be materially adversely affected by economic conditions, litigation or other factors. The Funds right to receive principal and interest payments may be subject to the provisions of bankruptcy, insolvency, and other laws affecting the rights and remedies of creditors, as well as laws, if any, which may be enacted by Congress or state legislatures extending the time for payment of principal and/or interest or imposing other constraints upon the enforcement of such obligations. In addition, substantial changes in federal income tax laws could cause municipal security prices to decline because the demand for municipal securities is strongly influenced by the value of tax exempt income to investors.</li><li style="margin-left:-20px">Sovereign Debt Risk | The Fund may invest in sovereign debt obligations. Investment in sovereign debt obligations involves special risks not present in corporate debt obligations. The issuer of the sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. During periods of economic uncertainty, the market prices of sovereign debt, and the Funds net asset value, may be more volatile than prices of U.S. debt obligations.</li><li style="margin-left:-20px">Exchange Traded Fund Risk | An ETF may trade at a discount to its net asset value. Investors in the Fund will indirectly bear fees and expenses charged by the underlying ETFs in which the Fund invests, in addition to the Funds direct fees and expenses. The Fund will also incur brokerage costs when it purchases shares of ETFs. In addition, the Fund will be affected by losses of the underlying ETF and the level of risk arising from the investment practices of the underlying ETF.</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></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</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 | 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 Funds 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 Funds 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 Funds 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 companys 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 Risk | The Fund invests in companies after assessing their value potential. Securities of value companies may be more volatile than other stocks. If the Investment Managers perception of a companys value potential is not realized, the securities purchased may not perform as expected, reducing the Funds return. In addition, 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 whole and other types of securities.</li></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">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.</div> PAST PERFORMANCE 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (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 Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Sep-16</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sept-15</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 7.30%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-11.76%</td></tr> </table> <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Mar-16</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sep-14</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 5.62%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-5.02%</td></tr> </table> Average Annual Total Returns (for periods ending on December 31, 2016) Average Annual Total Returns (for periods ending on December 31, 2016) 0.1072 0.1015 -0.0249 0.0634 0.0936 0.0919 0.0541 0.0926 0.025 0.0164 0.0172 0.0462 0.012 0.0091 0.0084 0.0702 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualFundOperatingExpenses000073 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleTransposed000074 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAnnualTotalReturnsBarChart000076 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleAverageAnnualTotalReturnsTransposed000077 column period compact * ~</div> High Yield Bond Fund CLASS I:    TPHIX INVESTMENT OBJECTIVE The investment objective of this Fund is to generate a high level 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. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.006 0 Non-Diversification Risk | Because the Fund may invest in a smaller number of securities, adverse changes to a single security will have a more pronounced negative effect on the Fund than if the Funds investments were more widely distributed. 0.0036 0.0001 0.0097 The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Funds performance from year to year and by comparing the Funds performance to a broad based index. 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. The Example assumes that you invest $10,000 in Class I shares of 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. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 99 309 The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Funds performance from year to year and by comparing the Funds performance to a broad based index. 536 1190 (800) 846-7526 (800) 846-7526 www.timothyplan.com www.timothyplan.com The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Your costs for this share class would be the same whether or not you redeem your shares at the end of any period. PAST PERFORMANCE 99 309 536 1190 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. 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 Funds performance. During the Funds most recent fiscal year, the Funds portfolio turnover rate was 27% of the average value of its portfolio. PRINCIPAL INVESTMENT STRATEGIES <ul type="square"><li>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 & Poors 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 Funds Investment Manager has determined that the security is of comparable credit quality to similar rated securities.</li></ul><ul type="square"><li>In managing its portfolio, the Funds 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 Managers investment criteria.</li></ul><ul type="square"><li>The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Funds principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Funds assets will be held in cash and/or cash equivalents.</li></ul><ul type="square"><li>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> 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 displayed are for Class I shares only, and after-tax returns for other classes may vary. 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 Organizations (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 Funds 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 Funds duration (a calculation reflecting time risk, taking into account both the average maturity of the Funds portfolio and its average coupon return), the more sensitive the Fund is to interest rate risk. Currently, interest rates are at historical lows. A change in the economic environment that causes interest rates to rise back to more historically normal levels could have a pronounced negative effect on the Fund.</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 & Poors (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 dont perform as well as the Fund expects, the Funds 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></ol>Who Should Buy This Fund <div style="PADDING-LEFT: 60px">This 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.</div> 2013-08-01 2013-08-01 2013-08-01 2013-08-01 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. 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. 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 Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Funds website at www.timothyplan.com, or by calling the Fund at (800) 846-7526. Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Jun-16</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sept-15</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 4.24%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-4.71%</td></tr> </table> Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) Average Annual Total Returns (for periods ending on December 31, 2016) Year-by-year Annual Total Returns for Class I Shares (for calendar years ending on December 31) <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> Mar-16</td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sept-15</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 13.31%</td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-20.75%</td></tr> </table> 0.137 0.1162 0.0771 0.1414 <table cellspacing="0" cellpadding="0" width="22%" border="0" style="border-collapse:collapse" align="left"> <tr> <td width="51%"></td> <td valign="bottom" width="3%"></td> <td width="46%"></td></tr> <tr> <td valign="bottom" align="left" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px" bgcolor="#bfbfbf"> Best Quarter</td> <td valign="bottom" bgcolor="#bfbfbf" style="border-top:1px solid #000000">  </td> <td valign="bottom" align="left" style="border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px" bgcolor="#bfbfbf"> Worst Quarter</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> March-14 </td> <td valign="bottom">  </td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">Sept-15</td></tr> <tr> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"> 2.82% </td> <td valign="bottom" style="border-bottom:1px solid #000000">  </td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">-3.06%</td></tr> </table> 0.0362 0.0154 0.0179 0.0523 2013-08-01 2013-08-01 2013-08-01 2013-08-01 -0.005 -0.0316 0.137 Best Quarter 2016-06-30 0.0424 Worst Quarter 2015-09-30 -0.0471 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. 2013-08-01 2013-08-01 2013-08-01 2013-08-01 Average Annual Total Returns (for periods ending on December 31, 2016) Average Annual Total Returns (for periods ending on December 31, 2016) 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 displayed are for Class I shares only, and after-tax returns for other classes may vary. 0.2544 0.2525 0.1457 0.0858 0.0237 0.023 0.014 0.0931 -0.0295 -0.0384 -0.0234 -0.0292 0.0274 0.0271 0.0211 0.0561 -0.1233 0.0116 0.1072 Best Quarter 2016-09-30 0.073 Worst Quarter 2015-09-30 -0.1176 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 Funds Fees and Expenses. 0.27 0.0411 -0.0769 As with most other mutual funds, you can lose money by investing in this Fund. 0.0936 The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Funds performance from year to year and by comparing the Funds performance to a broad based index. (800) 846-7526 www.timothyplan.com Best Quarter 2016-03-31 The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. 0.0562 Worst Quarter 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. 2014-09-30 -0.0502 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 displayed are for Class I shares only, and after-tax returns for other classes may vary. <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000075 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000095 column period compact * ~</div> <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000085 column period compact * ~</div> -0.1144 0.0357 -0.2391 -0.0329 0.2544 0.0237 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 Funds Fees and Expenses. 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 Funds Fees and Expenses. 0.24 0.45 As with most other mutual funds, you can lose money by investing in this Fund. 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. 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. The following bar chart and table provide some indication of the risks of investing in the Fund by showing the variability of the Funds performance from year to year and by comparing the Funds performance to a broad based index. The Funds 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 Best Quarter Best Quarter 2016-03-31 2014-03-31 0.1331 0.0282 Worst Quarter Worst Quarter 2015-09-30 2015-09-30 -0.2075 -0.0306 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 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 displayed are for Class I shares only, and after-tax returns for other classes may vary. After-tax returns displayed are for Class I shares only, and after-tax returns for other classes may vary. 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 shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 2013-08-01 2013-08-01 2013-08-01 2013-08-01 2013-08-01 2013-08-01 2013-08-01 2013-08-01 As with most other mutual funds, you can lose money by investing in this Fund. As with most other mutual funds, you can lose money by investing in this Fund. 247 761 1301 2776 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000105 column period compact * ~</div> 136 423 731 1607 <div style="display:none">~ http://www.timothyplan.com/role/ScheduleExpenseExampleNoRedemptionTransposed000115 column period compact * ~</div> Acquired Funds Fees and Expenses are the indirect costs of investing in other investment companies. 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 Funds 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. After-tax returns displayed are for Class I shares only, and after-tax returns for other classes may vary. The Fund’s Class I shares commenced investment operations on August 1, 2013. 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. 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 1000 Growth Index is a widely recognized, unmanaged index of 1000 large-capitalization 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. The Russell 2000 Index is a widely recognized, unmanaged index of 2000 Small Capitalization 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. The S&P 500 Index is a widely recognized, unmanaged index of common stock prices. The Index assumes reinvestment of all dividends and distributions and does not reflect any asset-based charges for investment management or other expenses. Barclays Capital U.S. Aggregate Bond Index (formerly Lehman Brothers US Aggregate Bond Index) is a benchmark index composed of US Securities in Treasury, Government-Related, Corporate, and Securitized sectors. It includes securities that are of investment-grade quality or better, have at least one year to maturity, and have an outstanding par value of at least $250 million. The Index assumes reinvestment of all dividends and distributions and does not reflect any asset-based charges for investment management or other expenses. Israel TA 100 Index is an unmanaged index that measures the performance of 100 Israeli issues. The Index assumes reinvestment of all dividends and distributions and does not reflect any asset-based charges for investment management or other expenses. The DJ Moderately Conservative US Portfolio Index is rebalanced monthly to the appropriate percentage of the risk experienced by the all stock Portfolio Index over the previous 36 months. It reflects a portfolio in which the equities represent 40% of the portfolio, and provides an evaluation of the return on investment considering the amount of risk taken. Barclays Capital U.S. Corporate High Yield Bond Index is an unmanaged index that measures the performance of intermediate (1 to 10 year) U.S. high yield issues. It includes fixed-rate, non investment grade debt issues rated Ba1 or lower by Moody’s, BB+ or lower by S&P, below investment grade by Fitch Investor’s Service or if unrated, previously held a high yield rating or have been associated with a high yield issuer, and must trade accordingly. The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The MSCI Emerging Markets Index consists of the following 21 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, and Turkey. The Dow Jones Moderately Aggressive Portfolio Index tracks three composite major asset classes (stocks, bonds, cash) which are rebalanced monthly based on the current risk level of the stock class.