NEW YORK (BP) – Marking the 100th anniversary of GuideStone Financial Resources, the Southern Baptist entity’s trustees gathered July 30–31 in regular session to hear ministry reports from its executive leadership team and staff.
In a report to trustees on GuideStone 100, GuideStone President O.S. Hawkins noted that 2018 also marks the conclusion of GuideStone’s long-range strategic plan that has guided the ministry’s work for more than a decade. All of its key objectives, Hawkins reported, were met over the last 13 years.
Hawkins noted that an addendum – Vision 20/20 – now guides GuideStone’s long-range planning and focuses on three strategic goals: increasing market share, responding to changes in the marketplace and continuing to aggressively manage costs while keeping participant service as the No. 1 focus.
“GuideStone 100 proved to be an effective plan for us as we moved through the planning and executing of the various goals, including the Mission:Dignity name change from Adopt An Annuitant and the launch of our Target Date Fund approach, among many others,” Hawkins said. “We believe Vision 20/20 will continue to guide us as we adapt to a changing marketplace, while always keeping our participants’ needs and expectations front and center.”
Chief Operating Officer John R. Jones echoed Hawkins’ sentiments as he provided reports over the ministry’s key lines of business.
Retirement and Investments
As of June 30, 2018, GuideStone reported assets under management of $15.3 billion, having grown $1.1 billion, or 8.0 percent, year-over-year. For the second year in a row GuideStone’s assets under management grew by more than $1 billion. This growth is primarily attributable to positive one-year returns in the GuideStone Funds Equity Index, Growth Equity and Small Cap Equity, which each posted double-digit one-year returns.
Total retirement and investment contributions totaled $522 million, a $40 million – or 8.0 percent – increase year-over-year.
More than 5,700 churches across the United States participated in Mission:Dignity Sunday on June 24. The special emphasis, designated for the fourth Sunday in June on the SBC calendar, helps raise awareness and money for Mission:Dignity, which provides financial assistance to retired pastors, Southern Baptist workers and their widows in financial need.
More than 1,700 pastors, and in most cases their widows, receive assistance through the ministry. More than $3.5 million has been paid out by midyear.
Donald A. Shepherd, the executive tasked with handling all aspects of the relocation of GuideStone from its home of 29 years to new leased space 10 miles north of downtown Dallas, told trustees that employees would report to work at the new offices Aug. 20, with most of the physical move occurring the weekend prior.
The move is a significant undertaking, especially with transitions in technology migration that will enhance the participants’ and investors’ experience, while driving efficiency and collaboration among employees.
The new location sits within a 45-minute commute of nearly 70 percent of the Dallas/Fort Worth area’s eligible workforce. GuideStone will occupy the top five floors of the 24-story Pinnacle Tower located at the intersection of the Dallas North Tollway and Interstate 635/Lyndon B. Johnson Freeway, across from the Galleria shopping center.