MB Foundation expands services, assets in 2010

0
425

Stewardship ministry wants to help people "take hold of real life"

MB Foundation Press Release

In an effort to help more people “take hold of real life” (I Timothy 6:19) in 2010, MB Foundation added a new capital campaign service, promoted Advent Conspiracy and experienced continued growth in assets under management.

Capital campaign services are now being offered through MB Foundation and its partnership with Dickerson & Associates. “We have become the premier lender in our MB community. It was time to broaden our services by offering capital campaign consultation,” says Jon C. Wiebe, President & CEO. Consultation services may be used to assess congregational readiness, create a building fund, pay off debt, or enhance operational objectives.

Lending activity seems to be increasing nationwide, but three projects are especially worth highlighting from 2010. The new church building in Lenoir, North Carolina, was finally completed and The Life Center held its dedication and hosted the district convention in September. New property was purchased in Mission, Texas, for the growing congregation at Mission MB Church. A vacant Ford automobile dealership was purchased in Atlanta, Georgia, to house the growing MB congregation of 600 at Ethiopian Evangelical Church. Overall, the loan portfolio grew by 6% and stands at $67.8M. Our thanks to the many investors who have chosen to give meaning to money by investing in this worthwhile lending ministry.

Forty-four MB churches participated in Advent Conspiracy during the Advent season of 2010. Advent Conspiracy is a movement that focuses on worshiping fully, spending less, giving more, and loving all. “The idea is to push back at the consumerism of Christmas, replacing traditional gifts with meaningful acts of kindness and gifts that will really change the world,” says Wiebe. MB Foundation promoted Advent Conspiracy by encouraging churches to consider participating and provided them with resources and ideas for implementation. As a result, over $225,000 was contributed by 20 churches, to local, national and international ministries. Wiebe continues, “Not only was money raised for some very worthwhile causes, transformation happened as well.” In addition, MB Foundation distributed $1,541,022 to Mennonite Brethren ministries and other 501(c)3 charities in 2010, as directed by the donors.

Assets under management grew to over $118M. MBF fiduciary services of asset allocation, manager selection, and administration combined to produce a healthy return of 12.75% for the standard endowment portfolio in 2010.

CL Archives
This article is part of the CL Archives. Articles published between August 2017 and July 2008 were posted on a previous website and are archived here for your convenience. We have also posted occasional articles published prior to 2008 as part of the archive. To report a problem with the archived article, please contact the CL editor at editor@usmb.org.

LEAVE A REPLY

Please enter your comment!
Please enter your name here