2023 Annual Report

The Brethren in Christ Foundation supports the Church by providing Christ‐centered financial services enabling local congregations to transform lives through Jesus.

In 2022, the Foundation funded four loans for pastors and another five loans for congregations and affiliated ministries. Two of these loans are great examples of drawing people toward Christ. A congregation in the Allegheny Conference was able to obtain a much larger facility in an area that is a perfect fit for their demographic. Since moving to their new building, the church has grown in attendance, giving and outreach. They plan to continue to expand their varied outreach programs and services throughout the community. The Foundation is also proud to have partnered with Peace Promise, a ministry for victims of human trafficking, located in Camp Hill, PA. They intend to use their new location to house Ruby Coffee + Co. Founded by two Messiah University students, Ruby Coffee + Co is designed to employ and teach job skills to trafficking survivors. The coffee shop, along with Peace Promise’s Soaps by Survivors product line, will provide much needed employment, support, guidance, and care to the victims of trafficking.

Throughout 2022, the U.S. economy has been experiencing levels of inflation not seen for many years. Rates across the entire financial landscape have dramatically increased. The average mortgage rate last January was 3.183%. By December 31, 2022, the average rate for a 30‐year mortgage had increased to 6.373%. Consumer prices also increased drastically throughout the year. While the overall financial market saw these large increases, the Foundation made the decision to temper our own rate increases for our borrowers. Rates averaged 4.30% for organizations and 3.30% for pastors in January 2022. After two modest rate increases, our rates now average 5.50% for organizations and 4.75% for pastors. As you can see, these rates are far below the current market rates.

For our investors, rates are competitive with standard rates in the marketplace as of this writing. While they may not be the highest rates available, we believe the ministry aspect of investing in the Foundation remains attractive to our investors.

The Foundation continues to invest in new technologies. This past year was spent planning and acquiring new software to enable staff to operate more efficiently and offer our customers a better experience. By summer 2023, the Foundation will have a fresh new website, a new and improved on‐line financial management experience, as well as a mobile application for our clients. We are also in the process of developing new lending and investment products.

We remain excited about the future of the Foundation and its partnership with BIC U.S.


Your partner in ministry,

Jim Reynolds, Executive Director
Brethren in Christ Foundation