Firstfruits Gift and New Initiatives Highlight 2016
MB Foundation continued to experience ministry growth in 2016. This growth was evidenced by the launching of new initiatives designed to strengthen and empower the local church, helping affirm the strategy of the National MB family.
One way MB Foundation affirms the national MB Family is through an annual gift to USMB of 11% of net profits. The gift for 2016 was $220,801, an increase of $44,000 from the previous year's gift. MB Foundation has been making a "firstfruits" gift to USMB since 2010, and recently increased the percentage of the gift to 11% of net profits. "MB Foundation continues to support USMB ministries at a highly substantial level, and it is immensely appreciated by me, our staff, our national leadership board and the MB family of churches," says Don Morris, National Director of the US Conference of MB Churches.
Several new initiatives were started in 2016 in the spirit of strengthening and empowering the local church. Those initiatives included:
- Sponsoring a first-ever Giving Challenge to encourage generosity. This contest encouraged the sharing of generosity stories and awarded four participants the opportunity to give away a total of $20,000.
- Forming a Retirement Plan for church staff.
- Launching the Leadership Generation Fund (LeadGen) to provide scholarships for leadership development. The first round of scholarship winners were awarded in 2016 totaling $2,500.
- LOWERING loan rates and RAISING certificate rates for the first time ever. This decision contradicted market trends but provided savings to borrowers and increased earnings for investors.
- Building a new office building in Hillsboro, KS. Groundbreaking occurred in July 2016 with the project expected to be completed in May 2017.
Along with the new initiatives, MB Foundation continued to assist donors with planned giving, helping facilitate gifts to their favorite ministries. Donor initiated gifts that passed through MB Foundation to 280 charities totaling over $3,100,000 in 2016.
Total assets under management increased from $174 million in 2015 to $178 million in 2016. This increase marks the 26th consecutive year of asset growth.
"I am constantly amazed by God's faithfulness to this stewardship ministry, and so very grateful for your partnership with us," says Jon C. Wiebe, President & CEO of MB Foundation.
Go here to view the complete 2016 Annual Report.