On behalf of the Baptist Foundation of Indiana, I would like to say thank you for your continued support of our ministry. We are so thankful for our many clients and partners and give God the glory for His provision during this time of unique challenges. We can only attribute this success to God’s faithfulness and through the support of people like you.
During that past few months, we’ve been involved in several exciting things:
- As of June 30, 2020, the Foundation’s total assets reached to $7.9M, a 50% increase since 2015.
- Our policy is to carry 20% of our funds in liquid cash and 80% invested in church loans. In January 2020, we had 42% of in cash. (The Secretary of State in Indiana only requires that we keep 10% in cash) Although this seemed like a disadvantage at the time, the Lord knew that a global crisis was on the horizon and that it would be prudent to have increased liquidity.
- Although we were prepared for emergency withdraws from our accounts, we’ve not seen anything like we predicted. In fact, we’ve even opened many new accounts during the last few months.
- At the beginning of the pandemic, we offered interest-only payments to all of our loan clients (with no penalties) for 3 months. Only about 30% of our loans opted to go interest only. All but 1 church is back on full payments of principal and interest.
- In March, we distributed $19,000 in scholarships to Indiana students preparing for ministry as a vocation.
- In April, we wrote a new loan to a church in Evansville for the expansion of their campus.
- In June, one of our church loans paid their balance in full!
Praise God for His faithfulness and everlasting love!
If you’d like more information about estate planning, investment accounts or church loans, please visit our website at www.inbaptistfoundation.org or call Jennifer at (317)481-2400, ext. 300.