Steinert FamilyBrenda Hamm
On December 21, 2017, Randy and Max Steinert formally placed the Steinert Family Foundation (SFF) under MB Foundation’s management. SFF is a significant fund created by Randy and Max’s parents, Marvin and Nadene Steinert. It is the largest single fund MB Foundation has managed, and it will result in a 20 percent growth in assets for MB Foundation. What led the Steinerts to this enormous decision includes not only a long history with MB Foundation, but also a strong belief in the importance of ministry and a dedication to the Mennonite Brethren family.
Marvin, Max, and Randy have all served on various boards in the Conference, and because of the roles in which they served, they always felt they had a personal relationship with MB Foundation. For Randy, the Foundation’s commitment to Mennonite Brethren churches and its dedication to stewardship education was impressive.
“We’re called to be good stewards of what has been entrusted to our care, whether that’s a little, or a lot,” he said. “People need to know how to give and how to give effectively and how to manage their finances and how to pass that on to the next generation. I think MB Foundation has developed a system for the Mennonite Brethren community that promotes good stewardship.” Estate planning is an avenue for stewardship that MB Foundation provides. While estate planning has many benefits, the most rewarding aspect is the legacy it leaves. In their mission statement for SFF, the Steinerts write that the purpose of the fund is:
To support organizations that are telling people about the love of Jesus
1. Preaching the good news
2. Making disciples
3. Training leaders
While it’s important to provide for self and posterity, leaving a legacy for Christ matters more. Jesus says in Matthew 6:20, “Store your treasures in heaven, where moths and rust cannot destroy, and thieves do not break in and steal” (NLT). The greatest benefit of leaving a legacy is knowing that the love of Christ is changing people’s lives. For the Steinerts, this is their greatest reward.
In addition to SFF, the Steinerts also established three charitable remainder trusts with the Foundation. Marvin first created his in 2001. The family later transferred real estate to add to Marvin and Nadene’s charitable remainder trust and created charitable remainder trusts for Max and Charlotte Steinert as well as for Randy and Delores Steinert. MB Foundation also serves as the conduit for the legacy gifts of both families as it is the charitable beneficiary of their estate plans.
MB Foundation’s various giving vehicles “have been just a real blessing to us as a family because we are able to give and yet not pay so many taxes on the assets that have appreciated,” Randy said.
As these decisions suggest, the Steinerts have a lot of faith in MB Foundation. Not only has the company proved its financial integrity, but it has also demonstrated its commitment to the Mennonite Brethren family.
“The rates are good for what we’re doing,” said Randy. “But the commonness of purpose being fellow Mennonite Brethren—that really puts it over the top.”
This “commonness of purpose” is why the Steinerts are dedicated to MB Foundation. The returns are good, its stewardship ministry is authentic, and its skill and expertise are undeniable, but above all, it is committed to serving its family.
“I just have enjoyed, particularly in the last number of years, working with MB Foundation and seeing how they’re involved in making sure the Mennonite Brethren community has access to good financial information and how they’ve made sure we have healthy churches in the Mennonite Brethren community,” Randy said. “It has been really fun to watch over the years.”