JEFFERSON CITY – The Missouri Baptist Foundation board of trustees received reports, April 27, about the new service initiated by Foundation President Neil Franks to offer church building and equipment loans. Other noteworthy reports include: Foundation assets under management continue to increase, distributions to individuals, churches, and institutions are on pace for the fiscal year, Commonfund Investment Consultant reports and Foundation Chief Operating Officer (COO) Shelly Vaughn was recognized for 20 years of service.
Franks reported that the new church loan program is another method the Foundation can collaborate with Missouri Baptist Churches. The loan rates are competitive and the process is dramatically easier than the traditional construction loan. One of the unique attributes is that the money is supplied by other church funding programs through a partnership with WatersEdge, which puts God’s ministry dollars to work.
The staff of MBF continues to be encouraged by the retention of long standing relationships to manage assets for churches and institutions. Equally inspiring are the new opportunities for relationship with MBC churches. The mission of the Foundation remains the same: to develop, manage, and distribute resources to strengthen the mission and ministry efforts of Missouri Baptists. The partnership focus is determined by churches and institutions that desire to Advance the Gospel. “If you are Advancing the Gospel, the Missouri Baptist Foundation wants to be your partner,” Franks said. “After seven months into my presidential role, I am recognizing the great opportunity the Foundation has to serve churches. I am passionate about the services we provide. Our goal is for every Missouri Baptist to have an estate plan that supports their family, church, and vibrant ministry.”
For the six months ended March 31, the Missouri Baptist Foundation distributed $5.2 million dollars to Advance the Gospel. These dollars are the results of distributions from endowments, gift annuities, revocable/irrevocable trusts, donor advised funds, and other lifetime gift arrangements as well as custodial assets entrusted to MBF. Commonfund, MBF Outsourced Chief Investment Officer (OCIO) spent additional time with the endowment management committee in education related to asset allocation and socially responsible investing.
During the meeting of the Foundation Board, Franks recognized Vaughn with a financial gift and a plant. Vaughn began her service to Missouri Baptists on May 5, 1998. Franks shared his appreciation and indicated, “The Foundation and all Missouri Baptists owe quite a debt to Mrs. Vaughn. Her hard work, tenacity and commitment to our clients and our cause have not only allowed the Foundation continue to prosper, but under her leadership as COO, we have an incredibly bright future.” Vaughn started in the legal and trust department, and quickly developed a passion for trust administration. She has completed extensive training, including the Resource Development Institute and Cannon Financial Institute, obtaining the Certified Trust and Financial Advisor (CTFA) designation. Franks said, “Shelly has established her management position with MBF and was recently appointed as COO.”
In appreciation, Vaughn responded, “I am humbled God called me to serve here twenty years ago; it is my honor and privilege to work for Missouri Baptists. I am looking forward to new and exciting days under the direction of Neil Franks. I am grateful for the opportunity.”