JEFFERSON CITY – The Missouri Baptist Foundation Board of Trustees met for its regularly scheduled Board meeting on May 15, 2020. Rather than convening in person for its tri-annual meeting, board members from across the state met via video-conferencing.
The trustees received economic, performance, and financial reports. Even though the market has been volatile, performance has rebounded since the low at the end of March. In keeping with its current policy, the board maintains its position to distribute all of the net income for endowments. This is good news for the ministries that count on those endowment funds, especially, when other giving may have decreased.
One of the highlights of the year is the joy to select college scholarship recipients. In December, the MBF Board allocated grant funds toward these scholarships. In addition, the Foundation Board of Trustees has the responsibility to select scholarship recipients for other accounts entrusted to them. In total, $27,500 was allocated to 11 students and two institutions. Those students and institutions will be notified directly with public announcements to follow.
Other routine business was conducted and MBF President Dr. Neil Franks reported, “I appreciate the flexibility of our board to meet and conduct business via Zoom. It is not as enjoyable as being in person; however, the trustees were fully prepared to receive reports, give direction and make decisions.” Said Franks. “Who knows, we may meet like this more frequently, as it saves time and travel expense.” The MBF exists to develop, manage, and distribute financial resources. The primary focus is Managing Money for Ministry and Possibility Planning for People. The corporate headquarters are in Jefferson City.