MBF investors provide for charities, church loans
MB Foundation press release
"Like a pipeline moving oil from Canada to Texas, MB Foundation is a conduit— matching generous donors and investors with projects that express their values and accomplish their objectives,” says Jon C. Wiebe, MB Foundation (MBF) president and CEO. “We consider it a privilege to link arms with donors and investors, providing the expertise and structure to accomplish their dreams.”
The Mennonite Brethren stewardship ministry’s annual report, released April 29, shows that currently 1,530 clients are using MBF as a conduit to fulfill their stewardship objectives.
During 2012, investors continued to bring funds to MBF, investing in certificates and allowing these funds to be used to make loans to churches. While interest rates are at historic lows, MBF has still been able to offer attractive rates ranging from 1.50 percent to 2.50 percent on term certificates. These resources have been used to fund over $8.5 million in new projects in 2012. Electronic statements for certificate investors were also added in 2012.
Over $3 million of charitable giving was facilitated in 2012 with funds disbursed in accordance with the donor’s recommendations: 25 percent to educational institutions, 23 percent to MB conferences and local MB churches, 17 percent to MB Missions, 15 percent to other MB ministries and 20 percent to non-MB charities. Some of the more unique gifts received in 2012 include organic almonds and raisins.
Fund Management services continue to grow as new services and money managers are offered. The standard endowment portfolio returned 12.10 percent in 2012, beating the benchmark and resulting in a three year annualized return of 8.64 percent.
Over 2,000 copies of the book, The Genius of Generosity were distributed during the year and at least 23 churches utilized the resource to teach on generosity.
“Dissemination of materials and a focus on stewardship education is sowing seeds for a future harvest of blessing,” says Wiebe.
To view the complete 2012 Annual Report, visit www.mbfoundation.com/financial-profile.
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