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2007 Annual Report
Dear Friends:
Investment results and
financial performance were excellent for 2007. Individuals with charitable
accounts and organizations with investment accounts realized the solid gains of
the markets. The net assets of the Foundation also experienced strong growth.
These assets provide the reserves and equity needed for continued long-term
stability. Additionally, the revenue earned on these assets assists with the
ministry expenses of the Foundation.
During 2007, the Foundation increased the third party administrative services
provided to the Brethren in Christ Pension Fund. This program, sponsored by the
Brethren in Christ Church, offers pastors and employees retirement income
accounts and certain other retirement benefits for pastors. We remain committed
to assisting the church with this important task.
Beginning in January 2008, Marion Yoder will begin as Loan Officer for the
Brotherhood Loan Fund. Marion brings many skills and extensive experience in
administration as well as a heart for ministry. This change will allow Jim
Smiley, Director of Planned Giving, to focus all of his time on assisting
individuals in planning their charitable gifts for the benefit of Brethren in
Christ ministries.
The loan fund continues to be a place where individuals and organizations can
assist pastors and congregations with the purchase of facilities. Investment
into the fund provides the money needed to loan at below market rates and in
situations where it would otherwise be impossible to secure a loan.
In looking to the future, we are most aware that these programs could not exist
without the support of the people of God and the blessings from God that are
showered upon us.
Thank you for investing in the ministries of the Brethren in Christ Church.
Your partners in ministry,
Elvin H. Peifer, CEO
| URL: www.bicfoundation.org/corp/annual_report.htm |
Last Modified on July 28, 2008 | Brethren in Christ Foundation, Inc. All rights reserved.