MB Foundation Provides Fuel for Ministry in 2013
MB Foundation finished the 2013 fiscal year with an increase in several financial categories that ultimately lead to increased resources for ministry. Total assets increased by 10% to a 2013 total just over $153,400,000. Ten years ago in 2003, total assets were $47,319,000 representing growth of over 220% during that time. When asked about the growth, President Jon C. Wiebe said “This represents a faithful God, faithful donors, a faithful church family, and a faithful staff.” He continued, “It also represents a lot of trust. God entrusts resources to us and it takes trust in God to turn them back to him. Finding a partner you can trust to walk beside you on that journey is important. We are pleased so many have selected MB Foundation to help them fuel ministry”.
During 2013, investors continued to bring funds to MB Foundation investing in certificates and allowing these funds to be used to make loans to churches. While interest rates are at historic lows, MB Foundation has still been able to offer attractive rates ranging from 1.50% to 2.50% on term certificates. Investments in the Certificate Program help fund the Loan Program which had a portfolio size of over $64 million spread among 93 borrowers.
Over $2.2 million was distributed in accordance with the donor’s recommendations to ministries and charities. Donors gave a variety of gifts such as stocks, business interests, real estate, wheat, organic almonds, corn silage, and a coin collection. Over 200 different non-profits benefited from the generosity of MB Foundation donors. This generosity is fueling ministry around the globe.
Fund Management services continue to grow as new services and money managers are offered. The standard endowment portfolio returned 14.52% in 2013, improving on last year’s return of 12.52%.
Reflecting on 2 Corinthians 9:10-11, Wiebe said, “Every gift or investment with MB Foundation is ‘a seed to the sower’. Those gifts and investments are converted into fuel for ministry. Gifts that are realized today or planned for the future help fund church planting, missions, education, etc. Investments in our certificate program are fuel for our loan program that provides churches, ministries and pastors with access to capital. It is a privilege to serve the MB family of churches in this way”.
Click here to download a complete 2013 Annual Report.