MB Foundation reports record-setting distributions

Stewardship ministry releases 2023 annual report celebrating a year of generosity

0
174
MB Foundation, located on East D Street in Hillsboro, Kansas, is an important USMB financial and ministry partner.

MB Foundation marks 2023 as the fourth consecutive year of record-setting charitable distributions generated by the ministry’s community of donors. With a distribution total over $16 million, donors contributed to 477 different charities, also a record. This record-setting year beat last year’s mark of $14 million and continued a trend that has been on the rise since 2020, when distributions totaled $8 million.

In addition to a single-year record in 2023, the distribution amount also pushed total distributions since MB Foundation’s beginning in 1991 to over $100 million. Since inception, MB Foundation has facilitated distributions totaling over $112 million.

“We praise God for this testimony of how the Lord is moving through our community of givers. Seeing this record-setting trend continue year after year is amazing,” says Jon C. Wiebe, president and CEO. “We are also honored to see our total historic distributions surpass the $100 million mark. The Lord is good.”

Investment and loan growth continued in 2023:

  • Over 900 investors reflect a 16 percent increase from the previous year.
  • The $132 million loan portfolio increased with 136 borrowers who are growing and strengthening their ministries.

MB Foundation saw assets under management total $333 million in 2023. The fourth quarter rally in the markets contributed to the asset increase resulting in a return of standard endowment of over 16 percent. Over the past five years it has seen a steady increase in assets under management. This has been accomplished while facilitating four consecutive years of record-setting distributions, experiencing a pandemic and historic bond market losses.

MB Foundation contributed $268,250 towards the U.S. Conference of Mennonite Brethren Churches’ operations and its immigrant church initiative and for the financial health of MB pastors and leadership development.

Another celebration for 2023 was the completion of the building addition which includes additional office space and a 2,079-square-foot ministry space. Several denominational meetings and gatherings have already been hosted in this new space.

“In 2023, MB Foundation emphasized our corporate passage from I Timothy 6:17-19 both anchoring our team and encouraging our clients in the principles of this powerful message… to do good, give generously, and be ready to share,” Wiebe says. “We invite others on a journey with us, working together in unity and faithfulness, and stewarding resources for kingdom purposes.”

The 2023 Annual Report contains stories of people using their resources to help create a fellowship space for their church, a couple meeting a need for education in their community and financials that reflect biblical stewardship and generosity.

Read the full 2023 Annual Report: https://mbfoundation.com/2023annualreport/

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here