MB Foundation reports a record $14 million distributed by its clients in 2022. The gifts were facilitated by MB Foundation on behalf of donors to 457 charities. This record year of giving surpassed the previous high of $13 million in 2021.
“We are privileged to facilitate the record-breaking generosity of our clients,” says Jon C. Wiebe, president and CEO. “In a year of high inflation, a volatile market and concerns of global conflict, we saw God at work, exceeding our expectations in a number of ways.”
The markets and inflation presented numerous challenges in 2022. For the first time in its history, MB Foundation’s assets declined year over year, finishing the year at $308 million. The stock market and bond performance contributed to the decline. The standard endowment portfolio was down 15.8 percent.
“We worked hard to manage cash and the implications of rapidly rising rates, facing the challenges of balancing investor and borrower expectations and needs,” says Wiebe. “We saw improvement in the last quarter and are grateful for how God guided us through. It’s not always about growth, but it is always about what God wants to do.”
Additional highlights released in the 2022 Annual Report:
- The Loan Portfolio grew by 27 percent to a total of $130 million.
- MB Foundation facilitated over $300,000 in relief aid to Mennonite Brethren churches in Ukraine
- MB Foundation met the needs of pastors and churches within the denomination with these disbursements:
- $180,000 Firstfruits gift to USMB
- $38,500 in scholarships for the LeadGen program
- $29,000 in grants for participating pastors in Financial Health
- Construction began on an addition to the corporate headquarters in Hillsboro to facilitate the continued growth in the number of accounts served and its staffing needs.
The 2022 Annual Report includes stories of individuals and ministries seeking to use what God has given them to its full potential. MB Foundation continues with its vision to gather, manage and distribute resources for Christ and his kingdom. To read the full 2022 Annual Report visit www.mbfoundation.com/2022annualreport.
MB Foundation is the stewardship ministry for the Mennonite Brethren church family in the United States. MB Foundation, headquartered in Hillsboro, Kansas, encourages and assists individuals, congregations and ministries in the Mennonite Brethren community with biblical financial stewardship solutions.