In the News

2009 Legacy (click to view)

2008 Annual Report (click to view)

Published in the August, 2009 edition of the NW Witness:

Foundation adopts budget, helps new work

VANCOUVER, WASH. - The Northwest Baptist Foundation Board of Directors approved the
distribution of funds totaling $22,977 to the Northwest Baptist Convention for use in new work
and church re-starts in 2009 and 2010 at the semiannual meeting on August 6 and 7, 2009.

Held at the Northwest Baptist Center in Vancouver, Wash, the meeting included the discussion
of assisting NWBC develop a New Work Start Agreement to ensure that the heritage of
Northwest Southern Baptists continues for years to come.

As of June 30, 2009 the assets under management were at the highest mark that the Foundation
has ever seen - $39,425,000.

The board approved a budget of $737,000 for 2010. President Tom Hixson reported that the
Foundation’s expenses and support services continue to stay under two percent of its total assets
managed. New to the budget for 2010 is assisting NWBC through paying rent. The Foundation
will pay the same amount in rent as they have been receiving in NWBC appropriations, currently
$18,000.

The Church Loan Committee approved increasing the loan to Japanese International Baptist
Church of Tigard, Ore. from $280,000 to $314,000. The increase will assist them in purchasing
adjacent property to further their ministry.

Also approved was a construction loan to the Church of Transfiguration of Tacoma, Wash. in the
amount of $600,000. The church was referred by Vasily Kramarevsky, a former member of the
First Ukrainian Baptist Church, Federal Way. This new Slavic church is in the process of
applying for membership with the Puget Sound Baptist Association and NWBC.

Foundation Board of Directors will keep loan rates as they have been for all of 2009. Current
rates are 6.5% for long-term loans and 7.25% for construction loans over $400,000. The Board
uses an index that is tied to the 3-year T-bill constant maturity. This index has proven to be very
stable.

The Investment Committee was informed that one of our donors had passed away and that the
two Charitable Gift Annuities that she and her husband had created would close. The annuities
will now go to the benefit their church, First Baptist Church of Beaverton, Ore.

Bill Moffitt, of Richland, Wash., board chairman and investment committee chairman, reported
to the board about a routine review of trusts and other investment agreements. This review or
audit showed that the Foundation is operating in accord with its governing investment policy.

Regarding its 2008 audit, Susan Marks, a partner with McDonald Jacobs, P.C., gave the
Foundation high marks for its accounting and record keeping. She stated that the Foundation is
the only non-profit corporation they audit that keeps their books in such good order.

Hixson credited Chief Financial Officer Steve Brock for his hard work: “The Foundation is very
blessed to have an individual with his credentials and expertise. Most non-profits don’t have
CPAs working for them. We are glad he is a part of the Foundation team.”

The 2008 financial audit is available for review at nwbaptistfdn.org/financial.html. The Board
approved retaining McDonald Jacobs for 2 more years.

A continuing effort of the Foundation and Board of Directors is engaging churches in Church
Legacy Planning with the help of the “Dirty Dozen”, as published in the May 28th issue of The
Witness. The board was informed of several churches that the Foundation is helping with the
very issues described in the “Dirty Dozen”.

The next meeting of the Board of Directors will be in March 2009.

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Published in the May, 2009 edition of the NW Witness:
"Dirty Dozen" addresses critical operational church issues

Published in the March, 2009 edition of the NW Witness:
Foundation strong amid economic trauma

Published in the August, 2008 edition of the NW Witness:
Foundation Board elects new chairman, adopts budget

Published in the June, 2008 edition of the NW Witness:
Ministry families aided by NWBF fund

Published in the June, 2008 edition of the NW Witness:
Northwest Baptist Foundation adds staff

Published in the May, 2008 edition of the NW Witness:
Northwest leader spreads hope in Uganda

Published in the March, 2008 edition of the NW Witness:
Foundation board approves loans, scholarships