President's Report
The Northwest Baptist Foundation has worked with the same purpose since 1956: “Empowering Northwest Baptists to provide a Christian Legacy.” It is this passion that drives the staff of the Foundation to serve the Northwest Baptist Convention, its churches, associations, and their members.
We are humbled to watch the faithful stewardship and generosity of our fellow Northwest Baptists. 1 Timothy 6:17-19 comes to mind:
Instruct those who are rich in this present world not to be conceited or to fix their hope on the uncertainty of riches, but on God, who richly supplies us with all things to enjoy. 18 Instruct them to do good, to be rich in good works, to be generous and ready to share, 19 storing up for themselves the treasure of a good foundation for the future, so that they may take hold of that which is life indeed.
We count it a great privilege to assist Christian brothers and sisters to provide for their families and contribute to the Lord’s work, even after they are gone. 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.
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 provides accounting services for the New Mexico Baptist Foundation and the Southern Baptists of Texas Convention Foundation, as well as Eagle Ledge Foundation in California.
Financial
Even though the economy has experienced ups and downs, the financial footing of the Northwest Baptist Foundation remained strong. After finishing 2010 at $41,454,547, funds under management were down slightly to $39 million as of September 30, 2011 due primiarly to distributions of revocable trust funds.
The auditing firm McDonald Jacobs, PC performed the annual audit of the Foundation’s financial statements for 2010. 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. During the presentation of the audit to the Board of Directors they commended Steve Brock for his outstanding work in creating the financial statements. The Foundation has been their only client to produce and have completed the annual financial statements on the first day of the audit.
The total unrestricted net assets of the Foundation were $1,053,504 as of December 31, 2010. This amount represents the Foundation’s reserves, and equals more than one and one half times a single year’s budget expenses.
Wills, Trusts, and Personal Care Services
In the first three quarters of this year we have assisted over 100 of our 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.
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 $39 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 2010 endowment income was distributed in the following manner:
Distributions to Associations |
79,040.25 |
Distributions to Churches |
104,663.15 |
Distributions to Educational Institutions |
14,992.79 |
Distributions to International Mission Board |
16,428.64 |
Distributions to North American Mission Board |
5,454.62 |
Distributions to NWBC |
48,472.40 |
Distributions to Other SBC Charities |
8,797.94 |
Pastor Assistance |
400.00 |
Assistance to Widows of Pastors |
750.00 |
Housing Assistance for Missionaries on Furlough |
11,100.00 |
Total Distributions to SBC Charities |
290,099.79 |
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Distributions to Other Charities |
40,269.87 |
Scholarships |
53,351.18 |
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Grand Total - Charitable Distributions |
383,720.84 |
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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, 2011, there are 38 current loans from the Church Loan Funds totaling $10,439,580.
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 – 2012 (1st Term)
Committee: Church Loan and Finance Committee
Occupation: 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 – 2011 (1st Term)
Committee: Investment Committee
Occupation: Consulting and Personal Investment Banking
Church Membership: Creekside Bible Church, Scappoose, Oregon
Scott Brewer - NWBC President (Ex Officio)
Committee: Promotion, Development and Education Committee
Occupation: Pastor, Meadowbrook Church
Church Membership: Meadowbrook Church, Redmond, Washington
Ron Bryant – 2012 (1st Term)
Committee: Secretary, Administrative, Investment Committee
Occupation: Attorney, Bryant, Emerson & Fitch
Church Membership: Highland Baptist Church, Redmond, Oregon
Bill Crews – (Ex Officio)
Committee: Church Loan and Finance Committee
Occupation: Executive Director, NWBC
Church Membership: Northside Baptist Church, Vancouver, Washington
Michael Franell – 2011 (1st 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, Hunter 4 Law
Church Membership: Eastmont Baptist Church, East Wenatchee, Washington
Kurt Lenhoff – 2012 (1st 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
Committee: Promotion, Development, and Education Committee
Occupation: Pastor, First Baptist Church, Longview
Church Membership: First Baptist Church, Longview, Washington
Personnel
We have 4 employees that have 14 plus 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 (17 years);
Karla Inman, Admin Asst/Office Manager -1996 (15 years);
Robin Smith, Bookkeeper – 1997 (14 years);
Clint Overall, Legal Counsel & Estate Planner Officer – 1998 (13 years);
Steve Brock, Chief Financial Officer – 2003 (8 years);
Cris Yaw, Family Financial Planner; - 2008 (3 years);
Michelle Goff, Admin Asst/ Public Relations – 2011 (4 months); and
Pat Fuller, Wayne Fuller, and Anita Wilson, 6 years as volunteers
We are proud of the staff that the Lord has 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), Juris Doctor (JD), Certified Public Accountant (CPA), and 6 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 53 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.