Brethren in Christ Foundation, Inc. Affirms Independence and Financial Strength Following Canadian BIC Fund Receivership
May 21, 2026
Mechanicsburg, PA — Brethren in Christ Foundation, Inc. (the Foundation) today issued the following statement in response to recent news regarding the receivership of the BIC Fund in Canada.
Brethren in Christ Foundation, Inc. emphasizes that it is not affiliated, connected, or related in any way to the BIC Fund in Canada.
While the similarity in names may cause confusion, the Foundation is a distinct, U.S.-based organization with separate governance, operations, and oversight.
“We understand that developments involving similarly named entities may raise questions,” said Jim Reynolds, Executive Director. “We want to be absolutely clear: Brethren in Christ Foundation, Inc. has no organizational, financial, or operational relationship to the Canadian BIC Fund.”
The Foundation remains committed to transparency, sound governance, and prudent financial stewardship. At its Board of Directors meeting held last week, the organization reviewed and received clean, unqualified audit statements from its independent external auditors, continuing a longstanding record of strong financial oversight and accountability.
“Our investors and borrowers can remain confident in the strength and integrity of the Foundation,” added Mr. Reynolds. “We have consistently demonstrated disciplined management, rigorous internal controls, and a deep commitment to our mission.”
Key assurances to stakeholders include:
- Strong Governance: The Foundation operates under an experienced Board of Directors and leadership team dedicated to fiduciary responsibility and mission alignment.
- Independent Audits: The organization has received full and clean audit opinions from independent auditors for many consecutive years, including the most recent fiscal year. Audited financials are publicly available at bicfoundation.org.
- Robust Legal Guidance: The Foundation continues to be guided by highly qualified external legal counsel to ensure compliance and best practices.
- Regulatory Oversight: The Foundation is subject to regulatory requirements and oversight across multiple U.S. states, reinforcing accountability and transparency.
- Continued Stability: The Foundation’s financial position and operations remain steady and well-managed, with no exposure to the Canadian BIC Fund or its current receivership proceedings.
Brethren in Christ Foundation, Inc. remains focused on serving its community of investors and borrowers with integrity, stability, and faith-driven stewardship.
For additional information or inquiries, please contact:
Jim Reynolds
Executive Director
jreynolds@bicfoundation.org
About Brethren in Christ Foundation, Inc.
Brethren in Christ Foundation, Inc. is a U.S.-based financial ministry dedicated to providing investment and lending services in support of its mission and faith-based community. Through careful management, disciplined practices, and a commitment to transparency, the Foundation has built a longstanding reputation of trust and reliability.