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Tom Hixson

President's Report

We are truly honored to assist Christian brothers and sisters in building a legacy that will last for generations to come. It is through many generous donors who planned for the future that ministries exist today.  The following facts and figures represent God’s blessings and people who have proved faithful with the good things that God has given them.

History

The Northwest Baptist Convention (formerly the Baptist General Convention of Oregon-Washington) authorized the creation of the Northwest Baptist Foundation.  On May 4, 1956 final documents were filed with the state of Oregon and the Foundation became a corporation.  Since then the Northwest Baptist Foundation has served as the trust agency for the Convention and our churches. 

Purpose

“Empowering Northwest Baptists to provide a Christian Legacy” has been the purpose of the Northwest Baptist Foundation since 1956.  This passion drives the staff of the Foundation to reach out to the Northwest Baptist Convention, its churches, associations, and their members.

Operations

The Foundation is incorporated under the laws of the State of Oregon as a nonprofit organization and is classified by the Internal Revenue Service as a 501(c)(3) organization.  The Foundation provides scholarships, and interim and long-term financing for church construction, remodeling, and refinancing; serves as trustee for various revocable and irrevocable trusts, charitable trusts and endowments; and assists individuals in their estate and financial planning.

The work of the Foundation has expanded well beyond its Northwest base in recent years. The Foundation currently assists with accounting services for two other Baptist Foundations: New Mexico Baptist Foundation and the Southern Baptists of Texas Foundation.

Financial

During these tough economic times, we are grateful that the Lord allows the Foundation to serve alongside many tremendous individuals.  It is an honor to assist them in support of the Lord’s work here in the Northwest. Even though the economy has experienced ups and downs, the financial footing of the Northwest Baptist Foundation remained strong. Funds under management increased to $41.8 million as of September 30, 2013; an increase of 9% from the previous year.

The auditing firm Kern & Thompson, LLC performed the annual audit of the Foundation’s financial statements for 2012.  The Foundation has continued to receive an unqualified opinion, meaning that the auditors believe that the financial statements are presented fairly and in compliance with generally accepted accounting principles.  The auditing firm continues to commend the accounting staff for their outstanding work in creating the financial statements. 

This was the second year of a three-year engagement with this accounting firm.  The Board of Directors of the Foundation requested that the Foundation change auditors every 3 to 5 years, so we have a fresh look at the financial statements and offer any recommendations on accounting policies and procedures.

The total unrestricted net assets of the Foundation were $739,749 as of December 31, 2012.  This amount represents the Foundation’s reserves, and is more than equal to one year’s budget expenses.  This indicates the strength of the Foundation’s current financial condition.

Trust and Estate Management

Managing trusts and estates continues to be a core service that the Foundation provides to Northwest churches and clients.  Over 65% of the $41.8 million in assets managed by the Foundation are in revocable trusts managed on behalf of churches and individuals.  And approximately one third of the total is in Charitable Trusts, Endowments or Memorial Funds which provide income to support Baptist ministries, individuals and other charitable causes.  The 2012 endowment income was distributed in the following manner:


Distributions to Associations

                65,499.55

Distributions to Churches

              142,661.66

Distributions to Educational Institutions

                31,657.26

Distributions to International Mission Board

                13,911.86

Distributions to North American Mission Board

                  5,131.86

Distributions to NWBC

                36,510.00

Assistance for Individuals on short-term missions

                  2,250.00

Pastor Assistance

 9,242.00

Housing Assistance for Missionaries on Furlough

                6,100.00

     Total Distributions to SBC Charities

              312,964.19

 

 

Distributions to Other Charities

                22,578.30

Scholarships

                56,563.50

 

 

Grand Total - Charitable Distributions

           392,105.99

 

 

Church Loans

The Foundation manages the Hyde, Norris, and Moseley Church Loan funds as well as loans for several associations, churches, and individuals. As of September 30, 2013, there are 40 current loans from the Church Loan Funds totaling $9,044,471.  Since January 2013 the Foundation has made 12 new loans for a total of $3,002,674 which is included in the above figure.

Wills, Trusts, and Personal Care Services

Over the last year we have assisted over 122 families of Northwest Baptists in the preparation of wills, trust documents, power of attorneys, or advance directives.  We also continue to provide assistance with several individuals and families in need of personal care services.  Personal care services can include helping with monthly check writing, acting as power of attorney, or making sure the individual is cared for during their lifetime. 

We consider this to be assisting individuals with the transition from here to heaven with dignity. Sometimes this is in concert with family members, other times the Foundation is the only involved entity.  The Foundation acts as an extension of the local church when we serve in this capacity.

Board of Directors

The Board of Directors is made up of individuals from Northwest Baptist churches across the region. We are blessed to have competent and capable leaders on our Board. Currently, the Board consists of three women and nine men, who have experience in the financial industry, real estate, loan processing, technology, engineering, law, business and the pastorate.
James Anderson – 2016 (2nd Term)
Committee: Church Loan and Finance Committee
Occupation: Executive Pastor, Trinity Baptist Church
Church Membership: Trinity Baptist Church, Renton, Washington
Mary Bakke – 2013 (2nd Term)
Committee: Vice-Chairman, Administrative, Church Loan and Finance Committee
Occupation: Homemaker, Farmer, Property Management
Church Membership: Capital Baptist Church, Salem, Oregon
Victor Bartruff – 2015 (2nd Term)
Committee: Investment Committee
Occupation: Consulting and Personal Investment Banking
Church Membership: Creekside Bible Church, Scappoose, Oregon
Steve Schenewerk - NWBC President (Ex Officio)
Committee: Promotion, Development and Education Committee
Occupation: Pastor, Community Baptist Church
Church Membership: Community Baptist Church, Winston, Oregon
Ron Bryant – 2016 (2nd Term)
Committee: Secretary, Administrative, Investment Committee
Occupation: Attorney, Bryant, Emerson & Fitch
Church Membership: Highland Baptist Church, Redmond, Oregon
Randy Adams – NWBC Executive Director (Ex Officio)
Committee: Church Loan and Finance Committee
Occupation: Executive Director, NWBC
Church Membership: CrossPointe Baptist Church, Vancouver, Washington
Michael Franell – 2015 (2nd Term)
Committee: Church Loan and Finance Committee
Occupation: Attorney, Franell Law; Pastor, Lozier Lane Baptist Church
Church Membership: Lozier Lane Baptist Church, Medford, Oregon
Robert Hunter, Jr. – 2013 (1st Term)
Committee: Investment Committee
Occupation: Attorney, The Hunter Law Firm
Church Membership: Eastmont Baptist Church, East Wenatchee, Washington
Kurt Lenhoff – 2016 (2nd Term)
Committee: Administrative, Church Loan and Finance Committee
Occupation: Pastor, Northside Baptist Church
Church Membership: Northside Baptist Church, Shelton, Washington
Bill Moffitt – 2014 (2nd Term)
            Committee: Chairman, Administrative, Investment Committee
Occupation: Retired
Church Membership: Richland Baptist Church, Richland, Washington
Donald Moor – 2013 (2nd Term)
Committee: Investment Committee
Occupation: Retired, U.S. Treasury; Director, Safe Family Ministries
Church Membership: Dayspring Baptist Church, Chehalis, Washington
Georgia Scott – 2014 (2nd Term)
Committee: Administrative, Promotion, Development, and Education Committee
Occupation: Director of Business Services, Information Services, UO
Church Membership: Riviera Baptist Church, Eugene, Oregon
Lorraine Shelby – 2014 (2nd Term)
Committee: Promotion, Development, and Education Committee
Occupation: Accountant
Church Membership: Richland Baptist Church, Richland, Washington
Personnel

We have 5 employees that have 10 or more years of service for the Foundation.  This type of stability is a great asset to the Foundation.  This allows the Foundation staff to have wonderful relationships with Baptists across our Northwest Convention.

We thank all of the staff for the way in which they minister to our Northwest Baptists:

Tom Hixson, President - 1994 (19 years)
Karla Inman, Admin Asst/Office Manager -1996 (17 years)
Robin Smith, Bookkeeper – 1997 (16 years)
Clint Overall, Legal Counsel & Estate Planning Officer – 1998 (15 years)
Steve Brock, Chief Financial Officer – 2003 (10 years)
Cris Yaw, Family Financial Planner - 2008 (5 years)
Michelle Goff, Admin Asst/ Public Relations – 2011 (2 ½ years)
Ashley Seuell, Staff Attorney – 2013 (6 months)
Pat Fuller, 8 years as volunteer

We are proud of the staff the Lord assembled here at the Foundation. Every unique talent and ability combines to enable us to work effectively. Each year our staff takes continuing education courses to stay abreast of current changes in tax, finance and law.

Our full-time staff members have the following credentials:  Masters in Business Administration (MBA), Masters in Education (MED), Masters of Science in Human Environmental Science (MS-HES) with emphasis in Family Financial Planning, two Certified Financial Planners (CFP), two Juris Doctor (JD), Certified Public Accountant (CPA), and 6 governor appointed notary publics!  Having all of these professionals on staff is indeed a tremendous benefit for the Foundation.

We ask that you would join us in praising our GOD who truly owns it all for the success the Foundation has experienced during the past 57 years.  Let the Foundation staff help you Leave a Legacy for future generations.  We continue to look forward to many more years of experiencing God’s hand in our ministry.

Celebrating Over 58 years of serving the Pacific Northwest

©Copyright Northwest Baptist Foundation 2011