MB Foundation Experiences Growth in 2014
During 2014, MB Foundation experienced an increase in several financial areas that led to increased resources for ministry opportunities. Total assets increased from $153 million in 2013 to $164 million in 2014. Donors continued to use MB Foundation as a conduit for their giving as evidenced by a distribution of $2.9 million to 254 different charities through 1,673 different distributions in 2014. The donor generosity resulted in gifts to educational institutions (31% of the distributions), non-MB charities (27%), local MB churches (19%), missions (12%), MB Conferences (9%) and other MB ministries (2%).
Some of the gifts given in 2014 were:
- 244,447 stock shares;
- 49,634 bushels of corn;
- 26,000 pounds of almonds;
- 6,759 bushels of wheat;
- 3,573 bushels of soybeans;
The loan portfolio remained strong finishing the year with a balance of $70 million; a $6 million increase from 2013. Fund management services continued to remain steady as the standard endowment portfolio returned 7.5% in 2014.
There were 45 stewardship opportunities provided by MB Foundation staff to encourage, teach and model stewardship. The staff size grew to its largest in 24 years of ministry with 14 members.
“To see the Lord work in the lives of our staff, board of directors, donors, churches, and agencies in the spirit of 2 Corinthians 9:11 is a fantastic honor. I would imagine God has blessed beyond the dreams of those that started this ministry many years ago”, said Wiebe.