MB Foundation celebrates a year of record gift distributions by generous donors totaling $13 million in 2021. Gifts impacted 427 charities and ministries designated by MB Foundation’s community of givers, an increase of 46 percent over 2020. Recipients included educational institutions, mission organizations, Mennonite Brethren conferences, local churches of the donors and 239 other charities.
“It is our privilege to serve those who are seeking to sow seeds for the kingdom of God,” says Jon C. Wiebe, president and CEO. “Our responsibility is to gather, manage and distribute financial resources for Christ and his kingdom. We are inspired by the generosity of those we serve and celebrate these distributions for the benefit of so many.”
MB Foundation experienced another year of growth in 2021, with assets under management totaling more than $327.8 million, a 9 percent increase from 2020. Two primary factors caused this growth: donors contributing almost $26 million and the standard endowment portfolio having a positive return of 13.8 percent.
Additional highlights for 2021 included:
- The Loan Portfolio ended the year over $100 million ($102 million) for the first time. In 2021, loan financing helped three churches to purchase their first facility.
- MB Foundation gave a Firstfruits gift of $180,000 to the U.S. Conference of Mennonite Brethren Churches.
- MB Foundation gave $67,000 in Financial Health grants to MB pastors in the program’s first year. Financial Health promotes financial awareness and strong stewardship habits for pastors and churches.The 2021 Annual Report provides examples of financial seeds sown over many years, becoming a harvest of giving to individuals, churches and causes.
“We continue to see God’s faithfulness when we view God as the owner of everything,” Wiebe says. “When MB Foundation, along with those who invest and give, act with generosity and financial stewardship, we are witnesses to impact. We look forward to what God calls us to do in 2022 and beyond.”
The full 2021 Annual Report is available at www.mbfoundation.com/2021annualreport.