Total MBF assets grow to $164 million, staff added
MB Foundation press release
During 2014, MB Foundation experienced an increase in several financial areas that led to increased resources for ministry opportunities. Total assets increased from $153 million in 2013 to $164 million in 2014.
Donors continued to use MB Foundation as a conduit for their giving as evidenced by a distribution in 2014 of $2.9 million to 254 different charities through 1,673 different distributions. Donor generosity resulted in gifts to educational institutions (31 percent of the distributions), non-MB charities (27 percent), local MB churches (19 percent), missions (12 percent), U.S. Conference of MB Churches (9 percent) and other MB ministries (2 percent).
Some of the gifts given in 2014 were:
- 244,447 stock shares;
- 49,634 bushels of corn;
- 26,000 pounds of almonds;
- 6,759 bushels of wheat and
- 3,573 bushels of soybeans.
The loan portfolio remained strong, finishing the year with a balance of $70 million, a $6 million increase from 2013. Fund management services continued to remain steady as the standard endowment portfolio returned 7.5 percent in 2014.
MB Foundation staff spoke on 45 occasions, encouraging, teaching and modeling stewardship. The staff size grew to its largest in 24 years of ministry with 14 members.
“To see the Lord work in the lives of our staff, board of directors, donors, churches and agencies in the spirit of 2 Corinthians 9:11 is a fantastic honor,” says Jon Wiebe, MB Foundation president and CEO. “I would imagine God has blessed beyond the dreams of those that started this ministry many years ago.”
To view the complete 2014 Annual Report, visit mbfoundation.com/2014annualreport/
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