A pastor that I contacted to tell him that I had just accepted a position with the Baptist Foundation of Indiana (BFI) replied to me, “So, I am confused. Do we have a foundation? Our money just got returned.” Yes, people and ministries got their money back. No, the Foundation did not die, but there is an ongoing metamorphosis.
When it comes to financial institutions, size matters. As the Covid Pandemic continued, churches shelved their plans to build which meant the Foundation was not making any loans. Think of loans as income for our Foundation. In the past, individuals and ministries made CD-type investments that earned interest. However, when the loans dried up income dropped significantly. It became obvious that, down the road, BFI would not have the income to pay the interest on all those CD-type short-term investments. It made sense to give all depositors their money back.
Under the leadership of our past President Jennifer Hall, our Board of Directors – with help from Kyle Brennan – hammered out a deal with WatersEdge Ministry Services, formerly the Baptist Foundation of Oklahoma, to provide a solid, committed partner for the Indiana Baptist Foundation. Not only are we still alive, but we are able to do more for the churches of the state convention than ever before!
Yes, we can help you get church loans for building and remodeling. Yes, we can help you with ministry investment accounts to store your church’s emergency funds and with good interest too! And now due to our increased partnership with WatersEdge, we can connect you to payroll and church accounting experts as well as offer your church Online Giving and Contribution Tracking!
Ray Barrett and Jennifer Hall deserve much praise for all they poured into the Baptist Foundation of Indiana. The Foundation certainly stands on their shoulders. As the new President of BFI, I aim to do one thing, make Jesus known by helping people and churches invest their God-given financial resources in eternity.
Samuel Clemons once wrote, “The reports of my death are greatly exaggerated.” The same is true regarding your Baptist Foundation of Indiana. We are still here. Still serving churches. Still helping people invest in Eternity.