T H E
B A P T IS T
F OU N D A T I O N
O F
O KL A H O M A
FALL 2013
GENEROSITY Fall 2013 A magazine for clients and stakeholders who support The Baptist Foundation of Oklahoma’s mission to promote charitable planned giving and provide financial management for the gifts that strengthen Southern Baptist ministries.
Production
Barros Design Group| Design Layout Jayme Glover| Writer Taprina Milburn| Editor & Writer Derek Watson & Marcus Wehmueller | Photographers Send questions/comments to: Editor, Generosity 3800 N. May Avenue Oklahoma City, OK 73112 communications@bfok.org
Administration
Robert Kellogg| President & CEO Dan Allen| Chief Development Officer, Senior Vice President, Donor Services Janna Charles| Assistant to the President & Corporate Secretary David Depuy| Vice President, Director of Investments Brad Johnson| Vice President, Controller Taprina Milburn| Vice President, Marketing & Communications Andrea Olsen| Executive Assistant to the President Michael Romero| Vice President and Trust Counsel Shryln Treadwell| Chief Operating Officer, Senior Vice President, Beneficiary Services Jerry Vaughan| Senior Vice President, Church Services Jim Wilsie| Chief Financial Officer, Senior Vice President, Support Services
Area Managers
Curt Gathright| Northwest Area Manager Kathy Lee Hatchett| OKC Metro Area Manager Paul Kersh| Southwest Area Manager David Polk| Southeast Area Manager Jerry Zumwalt| Northeast Area Manager Generosity is published in the fall and spring by The Baptist Foundation of Oklahoma, Oklahoma City, Oklahoma. Recipients include approximately 10,000 clients, stakeholders, and churches in Oklahoma. To request a copy or to update mailing information, please call 405.949.9500. “…through us your generosity will result in thanksgiving to God.” II Corinthians 9:11
Your Foundation
E
arlier this month, the Foundation hosted its annual Client Appreciation Dinner at the Devon Tower in Oklahoma City. We had the privilege of visiting with and thanking many of our donors for their generous support of Baptist ministries. We were also pleased to introduce a new recognition, the Heritage Award. The Heritage Award seeks to honor those individuals whose work, as a former staff member or board member, has contributed to the advancement of the Foundation’s mission. This year we were honored to recognize Charles Sutter as the first recipient of the Heritage Award. A trust client since 1968, Mr. Sutter served as a Foundation board member from 1984 through 1990, and as an advisor to the board from 1991 through 1996. He was awarded the board member emeritus designation in 2005. Mr. Sutter retired from Southwestern Bell after a prestigious 34 year career. He and his late wife Ina were active members of First Edmond, before retiring to Monkey Island. The Sutters have three sons: Chad, Charles and Kevin. To say Charles has had an active retirement is an understatement. As a volunteer, he directed the rebuilding and remodeling of the Oklahoma Baptist Homes for Children campuses in Oklahoma City, Madill, Owasso and the Boys Ranch Town in Edmond. During his service on the board, Mr. Sutter served in numerous capacities including chairman of the board, and his most significant contribution may have been the cost recovery fee system that has saved our clients more than $5 million during its 13 years. It seemed appropriate to have Mr. Sutter as our first recipient of the Heritage Award. His investment in and dedication to the work of the Foundation has been invaluable.
Robert K. Kellogg Foundation President & CEO
Contents
Cover Story 2
Disaster Relief: God’s People Help in Time of Need Disaster
Relief
is
completely
funded by the state missions offering and the donations of Southern Baptists.
Features
Departments
6
13
8
14 Donor Services —
6
Committed to Leaving Spiritual and Financial Legacy
8
Missionaries Share Gospel Through Games
10
New Building Rejuvenates Congregation
13
Making a Difference at Any Age
10 Giving Reminders
Year-End Charitable
by Dan Allen, Chief Development Officer, Senior Vice President, Donor Services
16
Investments — Market Report: Foundation’s
17
Church Building Loans & Investment Funds
Endowment Portfolio Earns Positive Net Performance by David Depuy, Vice President, Director of Investments
Servicing a Loan
by Jerry Vaughan, Senior Vice President, Church Services
Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
1
Disaster Relief: God’s People Helping in Time of Need
By Jayme Glover, BFO Communications
“… God had us in the palm of His hand. He hadn’t
spinning at 295 MPH. The infamous May 3rd tornado
forsaken us because He never does, and He answered the
was the world’s strongest tornado in history at one mile
prayers of His people around the world [that night].”
long spinning at 318 MPH, so the May 31st storm was on
This heartfelt quote came from Disaster Relief Director,
track to do some major damage.
Sam Porter, as he recounts the day after the last tornado in
“I prayed and said, ‘God, you can’t let this happen,’ and
a series of destructive storms that tore through Oklahoma.
I promise you He answered that prayer because the storm
On Saturday, June 1st, as Porter drove through the streets
picked up right before Yukon, and it never touched down
of south Oklahoma City all the way to Stanley Draper
again… God didn’t take the tornado away; He just picked
Lake, he was amazed to see no destruction in an area he
it up, like a Father protecting His children.”
knew should have been demolished.
In 14 years as director, Porter has seen a lot. He’s been
That previous night, May 31st, Porter was at home
to or helped by sending a workforce to every major
with his wife watching the weather as the world’s largest
disaster in those years including 9/11. Yet, despite all he’s
recorded tornado in history formed just east of El Reno,
witnessed, he still says, “Nothing is as destructive as an
Oklahoma. Its forecasted path was down I-40 straight into
F5 [tornado], and I’ve seen every kind of disaster in the
the heart of Oklahoma City. He remembers watching five
world.”
vortexes form into one tornado logged at 2.6 miles long
Disaster Relief has been a major source of aid for
Director Sam Porter fields questions from reporters after the May 20, 2013 Moore tornado. Photo provided by the BGCO.
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Generosity | The Baptist Foundation of Oklahoma | Donate Online www.bfok.org
destruction for some time now as it is dubbed, according
Salaries are paid through Cooperative Program giving
to Porter, the largest trained volunteer workforce in the
dollars, thus all of the money donated to DR goes to
entire world. Though the Red Cross and Salvation Army
taking care of the disaster. This could be anything from
may be more widely known, it cannot be said about
buying or maintaining equipment such as skid steers
each of these organizations that the volunteer base is
and track hoes to providing food through the large meal
completely trained. This can be said about Southern
truck, distributing Bibles to victims and even extensive
Baptist Disaster Relief (SBDR). The relationships between
emotional and trauma counseling training for chaplains
these organizations is strong though, as SBDR has an
and volunteers to help those suffering from loss. These
agreement to prepare 85-90 percent of all hot meals served
volunteers were able to be on site helping at one fourth of
by either the Salvation Army or the Red Cross. FEMA also
all homes and businesses destroyed that day, around 1,100
works with SBDR to distribute contact information to any
locations. And DR doesn’t solely help Southern Baptists,
victim needing help.
as Sam says, “…it doesn’t make any difference what faith,
Helping is exactly what Disaster Relief does. Within 20 minutes of the May 20th storm hitting Moore, Porter had made his way to First Moore and within two and a half
nationality, creed or anything.” “We do disaster relief in order to earn the right to share the gospel.”
hours, the DR meal truck was on site ready to prepare
SBDR had close to 1,500 ministry contacts on the
what would be more than 206,000 meals in 40 days.
ground presenting the gospel and helping victims learn
Serving meals isn’t the only thing the organization does
about Christ. Between 70 and 100 people chose to accept
for victims. They also have equipment to move debris
Christ after meeting with Disaster Relief volunteers.
similar to what demolition companies use. The difference
“God always shows up in the middle of disaster.” And
is that what a demolition company charges an individual
Porter would know, as he’s seen his fair share of them.
for debris removal, anywhere from $4,000 to $8,000,
SBDR is able to not only do the physical work needed to
Southern Baptist Disaster Relief does the same for free.
clean up an entire city after destruction, but the volunteers
This stat is overwhelming when you consider how many
are also able to do the emotional work it takes to restore
homes DR cleared debris from during the spate of storms-
a human soul from suffering. They are able to share the
more than 1,000. DR was able to do $4 million worth of
good news of Jesus Christ.
work for nothing because of the generosity of donors. Disaster Relief is completely funded by the state
If you would like to make a donation to Disaster Relief today, please visit www.bfok.org.
missions offering and the donations of Southern Baptists.
God Is Our Source: Tom and Peggy Hall By Taprina Milburn, Vice President, BFO Communications Like a lot of seasoned Oklahomans, Peggy Hall stepped outside to check the May sky, ominous and pregnant with dark clouds. “I couldn’t see the tornado, but I heard it coming; we had waited too long,” the Bethel Acres resident recalled. She and her husband, Tom, Pastor of New Life Baptist Church, took cover inside their double-wide mobile home—Peggy under the piano and Tom in the hallway with a pillow he’d grabbed from the sofa. “We hunkered down. I kept picturing us rolling over with our house coming
Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
3
apart around us. But while we were going through it, I
ation and felt a responsibility to help raise funds to get
prayed and God gave me peace; I wasn’t afraid,” she said
them back on their feet. Help came in from individuals,
tearfully.
churches and associations in state and out-of-state, and
When the tornado was over, the couple stepped outside to look at the damage. The twister had ripped off their screened porch, blew out windows, some walls, and lifted
donations to the Baptist General Convention’s Disaster Relief ministry. “I just prayed that God would send some help,” Cook
the roof and dropped it back
said. “And he did.
down.
Each time someone
“It’s by the grace of God
made a contribu-
that we were not hit by one
tion, I called Tom
piece of glass. It was going all
and he would say,
over the place like bullets,”
‘Praise the Lord,
Tom said.
praise the Lord,
The couple did not have
praise the Lord.’
home-owners insurance, and
Tom has served
they couldn’t fathom how
the Lord for many
they would ever be able to
years and they are
rebuild or replace it without
a precious couple.
going into major debt. And
They are so worthy
to compound their misfor-
of what they’ve re-
tune, Tom had a heart-attack
ceived.”
a week after the disaster and
In fact, donations
was in the hospital for three
made to Disaster
days. Disaster relief teams
Relief helped the
cleared debris and boarded
Halls buy a new
up windows for the Halls, and they were able to live in the damaged home. Peggy said that initially they
Tom and Peggy Hall “It’s been Christians start to finish who have helped us,” Pastor Tom Hall said.
out going into debt. “It’s been Christians start to finish
contacted FEMA for help and
who have helped
they provided enough money
us,” Tom said. “If it
to put a tarp on their roof, but she added that she felt a
hadn’t been for God’s people and their hearts, we wouldn’t
strong sense that they were to wait on God’s help.
be sitting here today. God uses people; he puts it into peo-
“God is our source. FEMA isn’t our source. So we just
ple’s hearts to give. And if you haven’t ever been through
waited and when we waited, God showed up,” Peggy said.
something like this, you can’t understand how someone
God showed up by sending his people, the Halls said.
giving to the Baptist Disaster Relief fund gives a spark of
As Tom recovered, church groups and individuals minis-
hope to those who have gone through it.”
tered to the couple by continuing to clear their property of debris. Director of Missions Russell Cook, Pottawatomie-Lincoln Association, learned about the Halls’ situ-
4
mobile home with-
Generosity | The Baptist Foundation of Oklahoma | Donate Online www.bfok.org
Foundation Announces Minerals Management Services The Foundation can help enhance the value and man-
lion. The fee for managing these assets is five percent of
age the complexities of a church’s or association’s oil and
mineral income. This fee is only charged for producing
gas properties.
properties; no fee is charged to monitor non-producing
Increasingly, Oklahomans are gifting a portion of their
properties.
oil and gas (mineral) assets to their local Baptist church
Minerals management services in-
and the administration of these assets
clude: gift valuation, negotiation of
can be complicated and time consum-
oil and gas lease/agreements, prepa-
ing, said Foundation President Robert
ration of oil and gas documents,
K. Kellogg.
communication with oil companies,
“I am pleased that we are able to
timely receipt of royalties, recovery of
offer minerals management services
unclaimed mineral royalties, and re-
to Oklahoma’s Baptist churches and
porting.
associations, alleviating the adminis-
Working with the Foundation to
tration burden while generating in-
administer your church’s or associa-
come for the church,” he said. “The
tion’s mineral assets is an easy process.
Foundation partners with the Baptist
Mineral assets may be added to an
Foundation of Texas to manage more
existing endowment or church funds
than 3,000 mineral assets valued at ap-
management account, or new endow-
proximately $15 million in nine states and 80 counties.
ment and church funds management accounts may be
The same systems, services and expertise used to admin-
established to receive the assets.
ister these mineral assets are now available through the Foundation to all Oklahoma churches.”
For more details about the Foundation’s minerals management services, call 1.800.949.9988, ext. 115 or email
Mineral income earned in 2012 exceeded $4.1 mil-
Shryln Treadwell at streadwell@bfok.org.
Increase the Impact of Your Gift What You Can Give: • Cash
• Bonds
• Check
• Other Assets
• Stocks
• Online Donations
Give to an Existing Ministry’s Endowment The Foundation manages the endowments for several Oklahoma Baptist ministries. By giving any amount to an existing endowment, you partner with others to provide long-term support for frontline ministries that touch the lives of many.
Donate Online at www.bfok.org • 888.949.9988 Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
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Committed to Leaving Spiritual and Financial Legacy By Jayme Glover, BFO Communications
6
Generosity | The Baptist Foundation of Oklahoma | Donate Online www.bfok.org
Growing up on the campus of Oklahoma Baptist Homes
important life stage. Due to her incredible scholastic
for Children is a unique experience for any child. Residents
resume--a Bachelor’s degree from Oklahoma Baptist
are from all walks of life and many different backgrounds.
University in Music Education, a Master’s in Flute
Some children choose OBHC to replace their current
Performance from the rigorous and esteemed Boston
environment; others end up in the community not by
Conservatory and a Doctorate in Musical Arts in Flute
their own choosing but because of a decision made to
Performance from the University of Oklahoma—Jennifer
benefit them.
has qualified herself to teach various music courses to 130
Meet Jennifer Peck. Jennifer is the daughter of
students every semester at the University of Oklahoma.
David Peck, assistant administrator for the Oklahoma
Jennifer’s background, musical talent, scholastic
Baptist Homes for Children OKC campus. David has
resume and checklist of world traveling are all impressive,
served the organization for almost 40 years, so
but maybe her most impressive attribute is her charitable
Jennifer has not known one day in her life that didn’t
intent. Jennifer is wise beyond her years, understanding
include the Children’s Home. Jennifer was a staff kid from
what it really means to leave a legacy.
the moment she was brought home from the hospital. She
“Just as I am committed to spiritually leaving a legacy, I
was able to experience her neighbors serving children
thought it only makes sence to financially leave a legacy.”
from day one and allowed it to shape her life.
Her intent is to be a good steward of what God has
“I grew up watching people lay down their lives so that
given her, and the way she was able to do that was through
children could have hope, could have a home, family and
creating her estate plan with the Foundation. Jennifer
community.”
is one of the few people who was able to see first-hand
The continual emphasis on ministry played a huge role
how donors leaving gifts in their plans to ministries, like
in Jennifer’s life and led her to search for a way she could
OBHC, truly support the funding of that organization.
serve others. Her ministry, she found, came in the form
Because of that, she chose to leave her gift to both OBHC
of music-through the flute, an instrument she both plays and
and the OBU music program where she received her
teaches today. Music has led to many opportunities to
degree.
share Christ domestically and internationally. Jennifer
Referencing her gift, Jennifer explains her choice
has been able to travel and disciple young girls with the
beautifully: “I want children to be loved, and I want
help of her flute and talk to people she may never have
students to be able to go out into all the world and preach
come in contact with otherwise. She’s visited and played
the gospel.”
in cathedrals in Spain, Croatia, and Germany and spent the 2013 summer in Austria.
Jennifer has a plan for her estate. Do you? Call the Foundation to set up an estate planning appointment
“I’ve been able to share the love of Jesus, sometimes without even using words but with [playing] music.” Jennifer has a heart for college students and feels a passion to help these students grow and develop in this
today. 1.800.949.9988, ext. 119. The Auguie Henry Society has 808 members who, as a group, have given more than $70 million in future gifts to ministry causes.
Auguie Henry Society Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
7
‘Pick a Card: Sharing the Gospel Through Games By Susie Rain* The middle-aged man smiles, reach-
A master storyteller, Ben takes the
es into his coat pocket, and pulls out a
audience through the trials of walking
deck of playing cards.
by faith and not sight. He shares the
Ben Lim’s* eyes twinkle as he shuffles
emotions and fears when confronted
the deck and fans out the cards. “Pick a
with problems (like hungry lions wait-
card,” he says. “Pick any card!”
ing to devour) and the assurance that
A young Chi-
God is always
nese man pulls
present when we
one
call on Him.
from
the
deck and looks
The story ends
at it, not letting
and
everyone
anyone else see.
looks
at
Ben asks him to
waiting for an-
act out the pic-
other.
ture. The young
plenty: 51 more
man gets down
cards from Old
on all fours, puffs
Testament Scrip-
out his chest and
ture and another
roars.
deck from the
“LION!”
the
has
New Testament.
group screams.
The collection is
Ben smiles and
a unique picto-
shows the card.
rial Bible cover-
It’s the ace of
ing
everything
clubs with a picture of three lions sur-
from creation to Christ, and is unique
rounding a man at the bottom of a den.
because Ben’s teenage daughters, Jas-
“Anyone know a story about a lion?”
mine* and Jamie* (plus one of their
the Christian worker in East Asia asks. “No? Then, let me tell you the story of Daniel and the Lion’s Den.”
8
He
Ben,
friends), drew the pictures. “I can’t begin to describe what it is like to use an evangelism tool devel-
Generosity | The Baptist Foundation of Oklahoma | Donate Online www.bfok.org
oped by your own kids. It’s beyond our imagination be-
For this project, the girls decided to use cartoon charac-
cause only God can do this,” says the church planter from
ters — a popular medium in Asia. They read and studied
Oklahoma. “All over the world, people are using these
a Scripture passage, then asked God to show them what
cards as part of evangelism and discipleship training.”
to draw.
The teens spent hours poring over Scripture passages
“Sometimes we’d draw a picture and my parents would
Ben uses as part of the Storying
say that they didn’t get it. So, we’d
Training for Trainers (S-T4T) pro-
have to come up with another one,”
gram. This approach combines
Jamie says.
oral communication with methods
Why playing cards? In East Asia,
of evangelism and discipleship,
people love to play games, espe-
training local believers to share
cially cards, making it the perfect
their faith with family and friends.
way to present a “picture Bible.” In
In rural East Asia, word-of-
some places (like China), it’s illegal
mouth and pictures are the most
to give someone a Bible, but giving
common forms of communicating.
them a deck of cards is fine.
“There are so many people here who haven’t found
Ben uses the combo-pack to train local believers in
Christ,” Jamie says. “If drawing pictures is the way to lead
sharing Bible stories and planting the Gospel. His favorite
people to Him, then it’s something you just gotta do!”
approach is to teach about the character of God and life
For the Lims, ministry is a family affair. Ben and his
lessons, working his way from creation to Christ.
wife Ellie* have always involved their children in ministry
More than 5,000 churches throughout East Asia have
by giving them age-appropriate tasks, helping them gain
adopted this unique evangelism tool. To learn more about
a heart for the nations and the confidence to share the
leaving a planned gift to International Mission Board,
Gospel. Their goal is to help their children imagine the
contact a Foundation estate planning representative at
impossible and be creative in using their gifts for God’s
1.800.949.9988, ext. 119.
purposes.
*Name changed. Article and photos provided by IMB. Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
9
New Building
Rejuvenates Congregation By Jayme Glover, BFO Communications
10
Generosity | The Baptist Foundation of Oklahoma | Donate Online www.bfok.org
“When we needed the Foundation, the Foundation was there for us.”
Christian Heritage Academy, Ford Funeral Home, and Townsend Children’s Academy. The congregation’s spirits
This was just one of the many good things Pastor Jones
were low, having to call on the Foundation three separate
of Sunnylane Baptist Church had to say about his church’s
times to ask for more money. Time and time again, the
experience working with the Foundation in the church
Foundation was able to assist Sunnylane and because of
building loan process. The loan process, no matter the
that, Pastor Jones says, “I’m really glad we went with the
lender, is a tough one as most churches would agree.
Foundation rather than a local bank because I don’t think
Sunnylane, however, had quite the obstacles to overcome
we would have had the same service with anybody else.”
during its loan process, but as Pastor Jones cites, the Foundation was there every step of the way.
In the new building, Pastor Jones sees a rejuvenated congregation.
Pastor Jones knew when he answered the call at
“Participation in the congregation has grown greatly
Sunnylane in May of 1999, three weeks after one of the
since moving into the new building. There seems to be a
deadliest tornadoes in history had tracked across central
new enthusiasm to serve the Lord.”
Oklahoma, that this church had its share of hurdles. The
Sunnylane has seen an increase in volunteers across
church was residentially locked and a couple miles from
all ministries as well as the development of a volunteer
any major street making it virtually impossible to be seen
cleaning crew made up of 20 church members that clean
by traffic. The congregation was made up largely of Tinker
the church thoroughly every Thursday morning, saving
Air Force Base personnel because of its location. This
Sunnylane a great deal of money.
often led to high turnover as many of the members were
Likewise, with the increased space, Sunnylane has
relocated due to their job. Aside from this, Sunnylane
been able to add new ministries to its current offerings
had reached its maximum capacity and had no room to
including outdoor sports ministry camps, Mother’s
grow by early 2003. As a quick fix, the church built an
Day Out, and a quilting ministry that has made and
additional fellowship hall across the street that would
provided a couple hundred quilts to organizations such
double as Sunday school rooms and added educational
as City Rescue Mission, Grace Rescue Mission, and crisis
space in the gym. Parking was also an issue, so Sunnylane
pregnancy centers.
borrowed space from a nearby school. By September
One of the biggest changes, as documented by Pastor
2008, Pastor Jones, along with a unanimous vote by his
Jones, is the revitalization of the 29th Street corridor in
congregation, decided to start the loan process to build a
Del City. The building of the new church in 2008 was
new building on a piece of land that was purchased after
the first major building improvement that had been
he became pastor.
done in that area in a very long time. Shortly after the
The timing happened to be another obstacle the church
construction started, new business started to shoot up
would face, as more natural disasters tore through
across 29th Street including shopping centers, restaurants
the country, including Hurricane Katrina, that would
and convenience stores.
ultimately raise the prices of building materials and force
With the faith of a congregation and a lending partner
many contracting employees to aid in the clean up, pulling
that had faith in that congregation, an entire community
them from local projects such as Sunnylane’s new church.
is changed. The Foundation is always eager to partner with
Because their old building sold immediately and due to
churches in the building process. Contact Jerry Vaughan,
the prolonged period of construction, Sunnylane was in
Senior Vice President, church services, 1.800.949.9988,
transition for four years, worshiping at three locations:
ext. 108 or email jvaughan@bfok.org.
Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
11
Myrick Supports OBU Nursing College with Gift Annuities By Taprina Milburn, Vice President, BFO Communications Jim Myrick was introduced to the Foundation dur“So I’ve always had an interest in the medical field. My ing WWII when he was in the Navy and stationed at the
daughter went into the nursing field and teaches nursing
United States Naval Ammunitions Depot in McAlester,
on the collegiate level. So with that background and my
Oklahoma.
daughter’s career path, establishing future scholarships
Jim met Dr. Auguie Henry, the Foundation’s first full-
for OBU nursing students was important to me.”
time executive director, and became close to
After the military, Jim went on to have a 30-
him and his family. “Dr. Henry became a
year career as an American history teacher
mentor to me. He was my father away from
and coach. He and his wife, Blackie, had two
home. He was a gracious man in all that he
sons and two daughters and were married 52
said.”
1
/2 years when she passed away in 2001.
Dr. Henry’s devotion to Baptist ministries
Jim’s interest in supporting Baptist minis-
and institutions, including Oklahoma Baptist
tries is why he established six charitable gift
University (OBU), was the genesis of his own
annuities through the Foundation.
loyalty to OBU, Jim said. When Myrick, a lifelong Texas resident,
“I receive annuity payments while also supJim Myrick
porting future scholarships for OBU’s College
went into the military as a young man, he had the desire
of Nursing students,” he said. “I hope the result of the
to serve his country as medical personnel. However, he
scholarship is that the student will have a strong loyalty to
became a fleet Marine, which did not have medical roles
our dear, heavenly Father and I have hope the individual
for soldiers.
will be a strong supporter of their church.”
Jim Myrick receives annuity payments while supporting future scholarships for OBU’s College of Nursing students. Photo provided by OBU.
12
Generosity | The Baptist Foundation of Oklahoma | Donate Online www.bfok.org
Making a Difference at Any Age By Taprina Milburn, Vice President, BFO Communications
Billie McDonald took early retirement from teaching at age 57. It didn’t take her long to discover that she was bored. So when she read an ad in the Messenger for a second-grade teacher in Asuncion, Paraguay at a Christian school, she applied and was hired. “I knew that I didn’t want to live and die and not make a difference in people’s lives. Paraguay whetted my appetite for opportunities to serve, and I knew there were a lot of things that I could do being involved in volunteer missions,” the now 81-year-old Lawton resident said. In fact, Billie spent the next decade supporting herself as a faith missionary. During those years, she was engaged in more than 20 different assignments mostly in the United States but also overseas. She joined the Oklahoma Disaster Relief team in Northridge, Calif., in 1994 to help in the aftermath of the earthquake, and she served on the Palo Indian Reservation as a missionary for 10 months. She traveled to Israel with the tribe to participate in the Feast of Tabernacles and do their 120-drum Ceremony. Billie also trained to be a Long Beach seaport chaplain and ship visitor, where more than 600 ships came into port each month, and she taught English to teachers in Hangzhou, China. “To think that God has blessed me with all of these opportunities, I just wish that everyone could experience what I’ve experienced. Just because you are older and retired doesn’t mean that God doesn’t have a plan for you and can’t use you,” she said. The daughter of a deacon, Billie grew up with the message of stewardship. Once a quarter, the deacons at her home church would take turns taking donated birthday and anniversary offerings to Oklahoma Baptist Homes for Children (OBHC). During one visit that her father and mother made, they saw two former OBHC residents getting married.
“They asked them why they would want to get married there and they replied ‘Because it’s the only home and family we ever had.’ “That story stuck with me,” Billie said. When Billie created her estate plan through the Foundation, she left a gift to OBHC. “There is a scripture that says to whom much is given much is required. God has blessed me beyond my deserving. I don’t have much, but I wanted it to count.” Although she is no longer participating in long-term missionary projects, she continues to help lead senior adult women, mostly from her church First Baptist East, Lawton, on various short-term mission trips, such as prayer walks in different states or coordinate filling backpacks with school supplies and distributing to children who live in Mexico, across the border from Fabien, Texas. “I’ve just felt that God has let me know that He will direct my steps,” Billie said. Call the Foundation to help with your estate plan or planned gift. The Foundation assisted 228 families and individuals last year with the completion of a gift through their estate plan or a charitable planned gift to Baptist ministries. These individuals designated more than $14 million in anticipated future gifts to Kingdom causes.
Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
13
Donor Services
By Dan Allen Chief Development Officer, Senior Vice President, Donor Services
Year-End Charitable Giving Reminders As we approach the end of the year, I want to give you
substantiated by bank record, such as a canceled check or
some reminders about charitable gifts that you might make
credit card receipt, clearly annotated with the name of the
directly to your church, directly to a Baptist ministry or
charity, or in writing from the organization. The writing
through the Foundation to your church or favorite Baptist
must include the date, the amount, and the organization
ministry.
that received the donation. Cash deductions that are not
Itemize You
substantiated, such as a must
itemize
in
cash donation without a
order to claim a charitable
receipt, or donations made
deduction. You report itemized
directly to an individual
deductions on Schedule A
rather than a qualified
of your federal form 1040
charitable
using lines 16-19.
will be disallowed. This
Qualified Organizations
doesn’t mean that you
Only donations to qualified
shouldn’t do these random
charitable organizations are
acts of kindness, but it does
deductible. If you’re not sure
mean that you can’t claim
whether
the deduction on your tax
an
organization
is qualified, ask to see
return.
their letter from the IRS
Employer Documentation
(many organizations will actually post their letters
If you have money taken
on their website). If that
out of your paycheck for
isn’t
can
charity, be sure to keep a
search directly online using
pay stub, a W-2 Form, or
IRS Publication 78. Keep
other document furnished
in
churches
by your employer showing
are considered de facto
the total amount withheld
possible,
mind
that
you
charitable organizations and are eligible to receive
for charity, along with the pledge card showing the name
deductible donations even if they’re not on the list (some
of the charity.
exceptions apply so ask if you’re not sure). I would
IRA
also suggest that you check out a potential charitable
For 2013, an IRA owner who has reached the age of
organization at CharityNavigator.org before you make a
701/2 or older can make a direct transfer of up to $100,000
donation.
to an eligible charity, tax free. This means that amounts
Cash Deductions
directly transferred to the charity from an IRA are
Regardless of the amount, cash deductions must be
14
organization,
counted in determining whether the owner has met the
Generosity | The Baptist Foundation of Oklahoma | Donate Online www.bfok.org
IRA’s required minimum distribution (RMD) but will not be considered a taxable withdrawal. Nice, right? Some
Deadline
restrictions apply including the fact that distributions from
Contributions are deductible in the year made so be
employer-sponsored retirement plans, including SIMPLE
sure and get those gifts in by December 31.
IRAs and simplified employee pension (SEP)
And yes, that means that credit card
plans, are not eligible.
charges made before the end of the
Non-cash Items
year are deductible even if the
For donations of non-
credit card bill isn’t paid until
cash items, the rule is
the next year. Similarly,
that you can generally
checks which are written
take a deduction for the
and mailed by the end
fair market value of the
of the year will be
items – that is, what the item
deductible for this
would sell for in its current
year even if they
condition. Be specific when you
aren’t cashed until
document your donation, noting
2014.
the description and condition of
If you need any assistance to make
the items. There is an exception,
a gift this season, please feel free to contact us at
however. If you make non-cash
1.800.949.9988, ext. 119 or donorservices@bfok.org.
deductions of clothing and household items, they are only deductible if in good condition or better. However, if the item is valued at over $500 but not in good condition, you may still take the deduction if you have an appraisal for the item.
Vehicles, etc.
CONSIDERING A YEAR END GIFT?
The rules for the donation of a car, truck, other motor vehicle, boat or airplane are a little different. Rather than use the fair market value of the donation, you are generally limited to the gross proceeds from its sale if the
YOUR GIFT CAN:
value of the item is more than $500. You will need to get a form 1098-C, or a similar statement, from the charitable
organization and attach it to your tax return.
Amount
If the amount of all of your non-cash contributions is over $500, you must also submit a form 8283 with your tax return.
Appreciated Goods Special rules apply to appreciated goods like stock or
Provide care for mothers who choose to keep their babies—Hope Pregnancy Centers Train volunteers who help during disasters — Oklahoma Disaster Relief Provide senior adults with living expenses — Baptist Village Communities Help students receive a Christian education — Oklahoma Baptist University Support your Southern Baptist Church.
jewelry and hard-to-value items such as artwork. If you are planning on making these kinds of donations, check with your tax professional for more information.
800.949.9988 | Give Online www.bfok.org
Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
15
Investments
By David Depuy Vice President, Director of Investments
Market Report
Foundation’s Endowment Portfolio Earns Positive Net Performance Ever notice how it seems that we just move from one crisis to the next in the capital markets? Late last year,
their purchasing in the future, though they still plan to purchase additional bonds.
it was concern about the fiscal cliff, and now, it’s shifted
Clearly the economy has been recovering with GDP
to the potential for the Federal Reserve tapering and
growth recently reported to be 2.50 percent which is in
shutting down of the federal government. In addition to
line with historical averages. In addition, unemployment
these issues, you always have GDP growth, employment,
has declined to 7.60 percent, still above the 50-year
and labor force participation to worry about. Often times
average of 6.10 percent. Even still, it is quite difficult to
these concerns, legitimate or contrived, do not explain the
explain why some markets continue to rise at what some
movements of the public equity markets. Despite all the
consider unsustainable levels while other markets seem to
concerns, the U.S. equity have
markets continued
to perform well with the S&P 500 Index rising 16.15 percent
year-
to-date through August 30, 2013. Continuing from
be declining at equally
U.S. Treasury Yields
4.50%
unsustainable
3.50%
is
3.00%
that
the
public
markets are not always
2.50% 2.00%
controlled
1.50%
by
our
concerns, legitimate or
1.00% 0.50%
contrived.
0.00% 1 Mo
3 Mo
6 Mo
1 Yr
12/31/12
2 Yr
3 Yr
5 Yr
9/10/13
7 Yr
10 Yr
20 Yr
Difference
the first quarter,
30 Yr
It is for this reason that the Foundation has
intentionally
the unusually strong equity markets seem to be a U.S.
adopted a strategic asset allocation for long term assets
phenomenon as the returns for international markets are
that is balanced among many asset classes and is designed
more subdued with the MSCI EAFE Index rising 8.15
to allow growth that provides equity among generations
percent and the MSCI Emerging Market Index actually
with as little public market volatility as possible. The
falling 10.20 percent. The Barclay’s Aggregate Bond Index
Foundation’s Endowment Portfolio has earned a positive
also decreased 2.81 percent for the same period.
net performance of 5.27 percent through the end of
Since the financial crises began in late 2008, interest
August. The Investment Committee will continue to
rates have been at historic lows in part because of
evaluate the Foundation’s current portfolio and future
unprecedented bond buying by the Federal Reserve.
investments by focusing on assets that are not correlated
This has generated a substantial bull market for bonds by
to the public equity markets. This strategy is designed to
pushing the yields even lower. Nevertheless, this trend
reduce risk while generating a return sufficient to grow
appears to have started to reverse as the middle term
the portfolio at the rate of inflation after all fees and the
rates have risen quite substantially over the past nine
annual distribution.
months, as shown in the graph. The most likely cause of the increase in rates is the Federal Reserve’s plan to slow
16
levels.
The only explanation
4.00%
If you have any questions about Foundation investments, please contact us at 1.800.949.9988, ext. 114.
Generosity | The Baptist Foundation of Oklahoma | Donate Online www.bfok.org
By Jerry Vaughan Senior Vice President, Church Services
Church Building Loans & Investment Funds
Servicing a Loan On several occasions, I’ve been asked what happens in
churches are in the repayment portion of their loans, loan
the church building loan process after a loan has been
servicing duties include posting payments on a monthly
approved and the loan documents have been signed.
basis, answering inquiries about loan balances, sending
Much of our loan servicing is done by Cindy Kralik, administrative assistant, loan services. For more than 12
payment history statements, processing pay off requests and any other transactional activity that might occur.
years, she’s helped our loan process operate
Insurance & Mortgage
in an efficient, accurate, and timely manner.
Insurance coverage is also an important
Loan servicing is complex and involves a
piece of the loan servicing process. Cindy
variety of tasks that begin the moment loan
must make sure that every church building
documents are signed. With a loan portfolio of
loan client maintains current insurance on the
approximately 230 loans in the amount of over $87 million, this can be a daunting task, but
Cindy Kralik
she keeps it running smoothly. As with many financial institutions, technology has helped significantly in automating many tasks. We use two different databases to manage the loan portfolio. One is designed to track account balances, principal advances and pay downs, payment input and histories, due dates and maturity dates, and interest rate changes. The other tracks borrower contact and is a repository for all loan documentation.
facilities that have been pledged as collateral for the loan. The Foundation requires that
every loan is secured by a first mortgage on the church’s property and facilities. With the recent spate of storm related damage, verifying adequate insurance coverage becomes even more important in a sound loan portfolio. Documenting that churches have sufficient insurance coverage throughout the term of the loan is an important and time consuming aspect of loan servicing. Another critical task is the prompt filing of mortgage documents in the proper county in which the church is
Construction Phase
located. Without a properly filed mortgage, there is no
If a church has borrowed money to expand its facilities, the loan is structured with a construction phase that
collateral securing the loan. Obviously, this is something that needs to be accomplished in a timely manner.
can last up to two years. During this part of the loan,
It’s hard to overestimate the importance of an accurate
the church requests funds to complete the project on a
and efficient loan service function. Accuracy in the
periodic basis or as construction progresses on the new
posting of all transactional activity is the hallmark of loan
addition. The church submits a draw request for the
servicing. Efficiency is vital in the timeliness of just about
funding, and Cindy processes this request, wires the
every aspect, from the creation of loan documents to the
funds to the church, and inputs the transaction into the
final Release of Mortgage being filed when a loan pays off.
two loan servicing databases.
Call me if you would like to know more about our church building loan program at 1.800.949.9988, ext. 108
Permanent Financing Phase During the Permanent Financing Phase, when
or email jvaughan@bfok.org.
Donate Online www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
17
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