TH E
BAPTIST
FOUNDATI ON
OF
OKLA H O M A
SPRING 2013
GENEROSITY Spring 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 Christian Sangree| Photographer
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| CFO & 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.
Building Ministry with Other Believers
W
e have a bold idea that we’ve adopted for the Foundation moving forward. We are striving to make available annually to ministry $25 million by 2025. This goal will only be possible because of the generosity of Kingdom-minded people who want to make a difference in lives. People like Ken and Sue Fellers have done this for years through their longterm relationship with Boys Ranch Town, beginning when Ken was a child and his family provided hay for the cows on its dairy farm. The Fellers continue today to give hay to Boys Ranch Town cattle that feed the children on all of the Oklahoma Baptist Homes for Children (OBHC) campuses. They also support the Boys Ranch Town agricultural program through an endowment they set up with the Foundation (read more about this story and endowments on pages 4 and 15). The Foundation has the privilege of managing the endowments for many of our great Baptist institutions, ministries, and churches. The endowment for Oklahoma Baptist University helps provide funds to support faculty, maintain and build facilities, and provide scholarships for students. Baptist Village Communities cares for senior adults’ needs with distributions from its fund. Endowment income helps give children a home and stability in a loving home environment at OBHC, and lives are changed by the Gospel through the many ministries of the Baptist General Convention of Oklahoma. Like the Fellers’ commitment to supporting the mission and ministry of OBHC, Oklahoma Baptists can do the same by giving to existing endowments. The value of giving to an endowment fund is that you will join with others in creating an enduring impact on lives and our culture. Many small gifts add up. Also in this issue is the story of Greg and Susan Kannady. Greg has been a Foundation board member for more than eight years and currently serves as an advisor to the board. The Foundation’s mission matches their stewardship goals, the Kannadys said. They created personal and corporate donor advised funds which help them keep their commitment to giving to ministry. “It doesn’t matter where we’ve stood financially, as a person who has received grace from our Lord, we see giving to Kingdom ministries as an opportunity to be faithful,” Greg said. (Please read the rest of their story on page 2.) Our catchphrase for our bold idea, 25 x 25, simply represents a measuring stick for this vision. We don’t ever want to lose sight of our real purpose—touching lives by partnering donors with frontline ministries. Recently, Miranda, a sophomore cross-country and track All-State competitor who arrived on the campus of OBHC at age 9, reminded our staff of this. “I struggled with self-worth, but I came here and have been a part of a church, involved in sports and the ag program, and I have a giant, caring family,” she said. “If anyone ever asks you why they should give money to OBHC, tell them that it changes lives and gives girls hope.” If you want to know how to be a part of 25 x 25, we’d like to hear from you.
“…through us your generosity will result in thanksgiving to God.” II Corinthians 9:11
Robert K. Kellogg Foundation President & CEO
Contents
Cover Story 2
Kannadys: Giving is Opportunity to Be Faithful
The Kannadys knew early in life that success was opposite of the world’s definition, but rather believe it is seeking God’s direction in all areas and being obedient stewards of His blessings.
Features
Departments 6
4 4
Endowment Helps Sustain and Grow Program at Boys Ranch Town
6
A Place in the World
10
A Story of Adoption and Planning for Future
12
Generosity and a Series of Blessings
12 10 15
Donor Services — Endowment: A Common
16
Investments — Market Report Wealth Effect Begins to Take Shape
17
Church Building Loans & Investment Funds
Man’s Guide
by Dan Allen, Chief Development Officer, Senior Vice President, Donor Services
by David Depuy, Vice President, Director of Investments
What a Difference a Year Makes
by Jerry Vaughan, Senior Vice President, Church Services www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
1
WAYS TO GIVE: Donor Advised Fund
Kannadys: Giving Is Opportunity to Be Faithful By Taprina Milburn The Kannadys knew early in life that success was
I have godly parents, they helped me fulfill my dream.
opposite of the world’s definition, but rather believe it is
When I called, my dad said, ‘come home.’”
seeking God’s direction in all areas and being obedient stewards of His blessings. “It’s living the life God has called you to,” Greg Kannady said.
Greg’s mother, Bert, served as his dispatcher and LuGreg Trucking was operated out of their home. After more than a year, Greg’s business had grown and he knew he couldn’t
Greg and Susan married in 1984 and live in Kingfisher,
manage it on his own. He asked his father, Luke, who had
where they raised their two children, Zac, 23, and Paige,
been with Texaco for 27 years, to go into business with
20, and operate their family business. Thirty-two years
him. They worked together as a family until 1998 when
ago as a 19-year-old, Greg started LuGreg Trucking, an
his parents retired and Susan and Greg purchased the
oil-field service company that removes the “trash” such
balance of the business from them. Today they have 135
as salt-water, drilling mud, and other oil field fluids from
employees with seven locations.
sites.
“We’ve tried to instill in our children that whatever
When Greg, the first in his family to go to college, was
vocation God leads you into, it is your sphere of influence.
a sophomore at Oklahoma State University, he began
Susan and I believe strongly that God led us into this area
seriously seeking God’s leading for a ministry to go into.
of business to be an influence for Christ,” Greg said. “This
“Because my father was in the oil field and I worked
is our ministry.”
summers in the oil field to raise money for school, I felt
That’s why when the Kannadys set up a family donor
a definite leading when I was on my knees to go into
advised fund (DAF) through the Foundation, they also
business for myself,” he said. “I was afraid to call my dad,
set up a corporate DAF.
though, because I thought he’d be disappointed because I was the first in the family to go to college. But because
2
His parents facilitated the loan to buy his first truck.
Generosity | The Baptist Foundation of Oklahoma | www.bfok.org
“Our stewardship is not only in our family but corporately we feel that same desire to give back.”
Greg, who has served on the Foundation board for eight
businesses are,” Susan explained. “The fund gives us more
years and currently acts as an advisor, and Susan said a
time to make better decisions and pray about where God
DAF works well for them because of three things: time,
would lead us to make gifts to His Kingdom,” said Susan.
intent and flexibility.
The intent, said Greg, is that the DAF is an irrevocable
A DAF allows the Kannadys to put money in the fund and take time to consider the ministries they want to give to.
gift. “Some might see that as a negative, but that is exactly our intent. It is God’s money to begin with and it was
“Our year-end is a very busy time, as most families and
God’s money when it was in our hands. The stewardship of that money will always be to Kingdom causes.” The flexibility that they enjoy through their DAF includes that along with giving to Southern Baptist ministries (50 percent over the life of the fund) such as Falls Creek and Oklahoma Baptist Homes for Children, they are also able to give to like-minded ministries that the family supports such as Water4, Dean McGee Eye Institute, and City Rescue Mission. In addition, they have the flexibility to not only make annual distributions to ministry from their funds, but have set up their corporate DAF to make monthly distributions. “It doesn’t matter where we’ve stood financially, as a person who has received grace from our Lord, we see giving to Kingdom ministries as an opportunity to be faithful,” said Greg.
Greg and Susan Kannady Greg with parents Bert and Luke Kannady in front of his first truck.
How a DAF Works 1. Make an initial gift of cash or stock to fund a DAF 2. Receive an immediate charitable tax deduction in the year of your gift 3. The funds are invested in the Foundation’s investment pools and individual funds 4. You recommend gifts from your fund to Baptist and other like-minded charities subject to review and approval by the board of directors.
www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
3
WAYS TO GIVE: Endowment
Endowment Helps Sustain and Grow Program At Boys Ranch Town By Taprina Milburn en Fellers first became involved in the
K
ministries of Oklahoma Baptist Homes for
Ken and his wife, Sue, who live in Ken’s boyhood
Children (OBHC) as a young boy. Raised on a dairy
home and work the same farm, continue that
farm in Byron, Oklahoma, Ken’s family was able to
tradition still today, providing hay for the ministry’s
not only provide hay for the ministry’s dairy cows
cattle.
but also took in a boy from OBHC during his high school and college years. “After the Children’s Home dairy closed, we
4
campuses,” Ken said.
“We enjoy getting to see the boys when they come to our farm to get the hay,” Ken said. “We’ve been able to build up good relationships over the years.”
continued to provide hay for their cattle that fed
Sue says her love for OBHC started when she
the children at Boys Ranch Town and the other
married into the Fellers family “…who obviously
Generosity | The Baptist Foundation of Oklahoma | www.bfok.org
had a deep love for the ministry.” “We love the overarching mission of the ministry, and, specifically, Boys Ranch Town tugs at our hearts,” she said. “We love the work that’s going on at the ranch and we admire the people who work there with the boys. The young men there have such good mentors.” The Fellers established an endowment through the Foundation that helps Boys Ranch Town sustain and grow its animal program. The endowment will provide funds to help with expenses related to the animals and their care, a ranch manager, and equipment. “We believe that our gift can help to raise good men, good fathers, and good husbands,” Sue said.
The Value of Endowment The Foundation manages the endowments for Oklahoma Baptist ministries such as Oklahoma Baptist Homes for Children. By giving any amount to an existing endowment, you partner with others to provide longterm budget support for these frontline ministries that touch the lives of many.
What You Can Give
• Cash • Check • Stocks • Bonds • Other assets • Online donations To learn more about giving to existing endowments
through the Foundation, contact 1.800.949.9988, ext. 105, or to donate online, visit www.bfok.org.
Ken and Sue Fellers Love Helping Boys Ranch Town
$9.8 Million Made Available to Ministry The Foundation announced that $9.8 million was
education.
recently made available to ministries across the nation
The 2012 annual distribution, made on January 31,
and worldwide, including more than $8.4 million to
2013, was given to the following Oklahoma Baptist
Baptist ministries in Oklahoma.
ministries and institutions:
“We take seriously the spirit in which our donors give. They care deeply about supporting ministries with a
• $1.08 million to The Baptist General Convention of Oklahoma.
biblical worldview that have long-reaching physical and
• $258,927 to Baptist Village Communities.
spiritual impact on individuals and the culture we live in,”
• $3.03 million to Oklahoma Baptist Homes for
said Robert K. Kellogg, President and CEO of The Baptist Foundation of Oklahoma. The Foundation was created in 1946 to acquire, manage, invest, and distribute donors’ gifts to Southern
Children. • $3.45 million to Oklahoma Baptist University. • $615,773 to Southern Baptist churches and associations in Oklahoma.
Baptist ministries. Foundation donors support the care
The remaining $1.4 million was distributed to hospitals,
of children, provide rental assistance and living expenses
universities, colleges, and academic foundations as well
for senior adults, send volunteers to help during local
as various ministries of the Southern Baptist Convention,
and national disasters, as well as provide scholarships
including IMB and NAMB.
that allow students to receive a Christian liberal arts www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
5
WAYS TO GIVE: Gifts That Impact Lives
A Place in the World
By Taprina Milburn Nicholette “Nikki” Wilson was hungry, living out of her
meant I was going to have an abortion or whether I was
car and asking, “Where is this God everyone speaks of?”
going to learn how to take care of a baby and myself. So
This is the life Nikki describes before she walked through the doors of Hope Pregnancy Center, a ministry of Oklahoma Baptist Homes for Children.
said. Nikki, who had received disapproval from family and
Trying to live life on her own terms had left her feeling
friends about getting pregnant, went to Hope Pregnancy
desperate and far from God, she said. And she had learned
Center convinced that she would also be judged by the
a week after her 21st birthday that she was pregnant.
staff for her consideration of abortion.
“The father didn’t want anything to do with the baby
“I already felt like a terrible person,” she said. “So when
or me. He didn’t even believe the baby was his. It was the
I walked through the door I expected they were about
most alone I’ve felt in my life. I thought abortion was
to throw Jesus in my face and make me feel bad about
the right thing to do because I didn’t feel supported,” she
thinking of abortion.”
said.
What happened was completely the opposite, Nikki
Nikki flipped through a phone book and stopped on the
explained. The staff welcomed her, prayed for her, fed
page of abortion services. She also saw the words in an
her, found her a temporary place to live and helped her
ad for Hope Pregnancy Center that said, “education on
understand that abortion wasn’t her only option.
abortion and alternatives.”
“They empowered me rather than beat me down for
That caught her attention.
considering an abortion,” she said. “They made sure I still
“I knew I needed to do something soon -- whether that
had my free will but helped me think things through from
Volunteer Lisa Shinn, left, Nikki, and Kathie Ogburn, assistant Hope Pregnancy Center director. “Nikki is pure inspiration to me,” Lisa said. 6
I made an appointment to talk to someone at Hope,” she
Generosity | The Baptist Foundation of Oklahoma | www.bfok.org
every angle. I had been trying to do everything on my
She learned through an ultrasound she had at the center
own for so long, but I wanted to be close to God because
that she will have a daughter this summer. Like all
of the support they gave.”
expectant parents, Nikki is making lists of first names and
Since walking through the doors, Nikki accepted Christ and can see that she and her baby have a future, said volunteer Lisa Shinn.
middle names from which to choose. “Some part of her name will include the word “hope,” she said. “God brought me through the doors because
“Nikki is pure inspiration to me. She is such a strong
my daughter is supposed to be here. It was a lifesaver for
person. All of her problems haven’t been solved but she’s
my baby but also for me. They showed me here that there
able to smile in the face of it all because she realizes that
is support and a higher power that never leaves you or
she has a life inside of her and that God created that life.
forsakes you –even if you feel alone, He is there.
Knowing that has brought her a lot of peace,” she said.
“I have a place in the world here,” she said.
Nikki attends weekly parenting classes, which give her
Donations through the Foundation help HPC follow a
the opportunity to earn “baby bucks” so that she can
mother through her entire pregnancy, providing essential
purchase necessary baby items in the center’s boutique.
medical services and parenting programs.
Brothers Give from the Heart “Thanks for your catalog. My brother and I want to give to the Hope Pregnancy Centers to help babies,” wrote Jackson, 10, and Peyton, 6, in a letter to the Foundation. The Katy, Texas, brothers saw the Foundation’s annual giving catalog at their grandparents’ house over Christmas and decided to put their money together to help
HPC.
They
taped $5.30 in coins to their letter and sent it in.
Peyton and Jackson Hill
“At first I didn’t think it was enough,
but then I thought to myself, every penny counts, right? A little money is better than not giving at all. Jesus teaches us to give what we can,” Jackson said. “We hope the money will help save babies and show their moms that people care about the brave choice they have made.” Debbie Hill, their mother, said that she and her husband, Jeremy, believe in educating their kids about the struggles of this world and the importance of showing Christian love however they can. “When they saw the catalog they started asking questions and wanted to help,” she said.
www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
7
Dana, Chandler and Ryan Reiman
A Passion for Falls Creek & Family Sparks Interest in Estate Plan By Taprina Milburn Ryan Reiman is a police officer for the City of Grove. He likes how his work connects him with people.
Dana added, “The estate plan gives us peace of mind
“I get to meet all kinds of people—at their lows and
because we know that we have set up whom Chandler
their highs. I like the smiles I get for simply just doing my
would go to if something happened to us; it’s someone we
job,” he said.
chose, and they would love him as much as we do.”
Along with the passion for his work is the understanding
The Foundation’s legal fee reimbursement took away
that as parents, he and his wife, Dana, needed to have
any excuses we had made for not completing an estate
in place a will that would protect their 8-year-old if
plan, the couple explained.
something were to happen to one or both of them. “We have a son, Chandler. He is my wrestling partner.
8
He’s my boy,” Ryan said.
Generosity | The Baptist Foundation of Oklahoma | www.bfok.org
“As a young family that lives paycheck-to-paycheck, it is difficult to come up with money to spend on a will,” Dana
Auguie Henry Society said. “The legal fee reimbursement program was one of
the youth department as well, which opened the door for
the biggest benefits because it made it free for us.”
them to participate in Falls Creek.
The Reimans cherish their family life and enjoy telling
“I was at Falls Creek two days with the youth, and I knew
how they met as teenagers, living only a quarter-mile
I would be coming back. It was a very powerful thing being
from each other.
there and seeing the change that it was making in the kids’
“We didn’t really see each other except that she drove by my house very fast,” Ryan said. “My dad would say, ‘Here
lives and being around other adults who had been there year after year. I wanted to take part in all of that.”
comes the duster.’ She always made us run, and we always
As part of the Foundation’s legal fee reimbursement
had to clean all the cars. We couldn’t see her coming
plan agreement, the Reimans left a gift in their will to Falls
because it was a blur.”
Creek.
Ryan and Dana lost touch but reconnected at a large dance hall when they were in their late 20s. “We met in February, started dating, married in November, got pregnant in January and had a kid in October,” said Dana, who works on Saturdays as a rural postal carrier. “Here we are 9 years later.” Today, they both help homeschool Chandler as well as participate in his extracurricular activities of Tae Kwon Do and scouting. They also serve faithfully in their church, First Baptist Church, Grove. Dana leads Wednesday night children’s choir and teaches the girls in the youth department on Sunday mornings. Ryan is active weekly in
“Another benefit of doing a will through the Foundation is that we can choose to leave a percentage of our estate to ministries that help others come to Christ,” Dana said. The Foundation’s Auguie Henry Society was formed in 2006 to recognize families and individuals who have included a gift to Baptist ministry as a part of their estate plans. Currently, the Auguie Henry Society has 1,050 members who, as a group, have named approximately 400 charitable causes in their estate plans. AHS members have given in the form of a planned gift or designated as future testamentary gifts more than $70 million for ministry causes.
The Reimans support Falls Creek with their time and gifts. www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
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Women’s Estate Planning
A Story of Adoption and Planning for Future By Jayme Glover When it comes to estate planning, major life changes tend to be the catalyst behind why an individual chooses to create a will. For Teri, this fact remains true as she chose to create her plan with the Foundation’s assistance after she finalized the adoption of her son Gideon. Teri always knew that she wanted to be a mother, but after not really dating and reaching her 35th birthday, she knew it was time to make a decision. “I knew even if I got married, I’d be close to the age where it would be a risk to get pregnant, so I started looking into adoption.” Teri looked internationally first because that’s what she had always thought she wanted, but every country she looked into wouldn’t allow a single mother to adopt. She was encouraged by a friend to foster a child domestically, so she applied and was approved. Shortly after being approved, Teri was contacted by a Department of Human Services representative that needed to immediately place twins. Leaving for a trip that very day, Teri declined, feeling certain it wasn’t God’s will. A week after returning from her trip, Teri received another call from DHS. This time they had a six-monthold girl and a boy that was only six days old. Teri could feel the representative wanted her to foster the girl, but as Teri describes it, “I just kept hearing God saying to me over and over, ‘that little boy is yours, Teri.’” Teri adopted Gideon after 14 months of fostering. Teri said she knew after three or four months that Gideon would be hers for good, so she started the adoption process. Once Gideon was officially adopted, Teri began to seek out fostering another child. She knew she wanted Gideon to have a sibling. It was a Thursday that Teri called DHS to seek another
10
helped with Gideon’s case called to tell Teri that Gideon’s half-sister needed a foster home. There was no question in Teri’s mind. It was meant to be. Normally, children are fostered and adopted in a process that takes a year or more. It only took seven months of both fostering and adoption before Audrey was Teri’s daughter. Adoption,
Teri explains, has been a huge blessing in her life and is
foster child. At that time, there were no babies, but the very
such an easy process through DHS, not to mention how
next day DHS called her back. The same case worker that
accepting they were of a single mother. She encourages
Generosity | The Baptist Foundation of Oklahoma | www.bfok.org
parents to foster since, “there are so many children that need to be placed.” Individuals choose to create their estate plans when major life changes happen. The individuals who choose to create their plans with the Foundation’s assistance may do it for a number of reasons. One reason is the legal fee reimbursement program. “I knew it wouldn’t cost anything. That’s the reality,” Teri explained. Individuals need only to donate a 10 percent gift of their estate at passing, half of which must be to a Southern Baptist ministry, to participate in this program. This ministry can even be a local church. Teri chose Sunnylane Baptist Church to receive a portion of her estate when she passes away. “I grew up in this church. It’s home,” said Teri. Teri has been involved in the music ministry at Sunnylane her entire life, playing the keyboard since 1990. Through her estate plan, Teri was able to not only designate a gift at her death to the church she grew up in, but was able to establish guardianship for her children in the event that something happens to her. “I have peace of mind. I know if something happened to me, they [my children] will be taken care of. I don’t have to worry about how they will eat, sleep, or survive. I would encourage families with small children to do an estate plan because we don’t know what tomorrow holds, and they need the same peace of mind I do.”
Is A Will Enough? “The fact is, if you are over age 18, you need a will,” said Kathy Lee Hatchett, the Foundation’s Women’s Estate Planning Educator. “Once you are of adult age others can’t make financial and health care decisions without approval from a court.” Whether you are married or single, preparing gives you the assurance that you’ve been pro-active and prepared for the difficulties of life, she said.
What You Need to Know A Last Will and Testament allows your wishes to be carried out at your death, including naming a guardian for your minor children. Supplemental documents in your estate plan such as a Durable Power of Attorney and Advanced Directive for Healthcare give your instructions of how you want your financial and health care affairs handled if you become incapacitated.
A Durable Power of Attorney A Durable Power of Attorney would allow a person named by you to handle financial decisions regarding such things as life insurance, retirement accounts, and real estate, as well as health care decisions. “A key thing to remember is that being married does not grant a spouse automatic legal authority to make financial or health care decisions,” Kathy said. “There are certain privacy and homestead protections in federal Oklahoma law that a Power of Attorney addresses for you. And because of the HIPPA law, it’s important to have a Power of Attorney to grant a family member or spouse access to private or other health care information.”
Advance Directive for Healthcare This part of an estate plan deals with certain end of life health decisions and documents your choices in the event you can no longer articulate your desires, said Kathy. Some of these decisions include whether you want to be kept alive by life support, feeding tube, and artificial hydration. “It gives clarity to the family of what your official wishes are and provides peace of mind, knowing that you made a conscientious decision of what to do,” she said.
www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
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Generosity and a Series of Blessings By Jayme Glover Evergreen Baptist Church doesn’t have everything
The church moved from the hotel to Thoreau Middle
figured out. Pastor Michael Gabbert hasn’t cracked a code,
School while they paid on their new 40-acre plot. They
prayed the right prayer, preached the perfect message, or
were at Thoreau for six years leasing every inch for the
held the textbook giving campaign. The blessings that
sanctuary, classrooms, and meeting space. Beginning to
Evergreen has experienced in the past six months are
outgrow the school, they knew it was time to start building
what he describes as, “generosity that developed because
on their land. The church approached a local bank but was
these people have seen God outgive them time and time
rejected based on their lack of financial history.
again.”
Evergreen then turned to the Foundation. The vision
The generosity Pastor Gabbert speaks about is the gift
presented was intriguing to the Foundation as it had only
of a church member who used money earned from the
serviced small loans and never a large construction loan
sale of a business to help reduce Evergreen’s debt from
up to this point. Pastor Gabbert recounts that meeting.
its building project started in 2005. To Pastor Gabbert’s and the congregation’s astonishment, this gift paid the remainder of a $3.5 million debt Evergreen had with the Baptist Foundation. “The whole thing is such a God thing. It unfolded in the heart of a man who didn’t need to do it but was so thrilled that God put him in a position to do it,” explains Pastor Gabbert. Evergreen Baptist Church was started in December of 1999 when Pastor Gabbert had a sense of direction to minister to the south Tulsa area. There were fewer churches in the suburbs, and his goal was to find a spot and start a church. The initial group was 28 people that
“It was an act of faith for both Evergreen and the
met in a Holiday Inn Select where for 10 months they
Foundation’s board, as it prepared to loan $3.5 million
had to set up and tear down every Sunday and house
dollars to a church lacking some qualifications.” Michael
their equipment in a trailer. Pastor Gabbert remembers
remembers that day well but remembers best the way
many blessings but one unforgettable blessing was that it
with which the Foundation and its board presented the
never rained on a Sunday when Evergreen was setting up
news. “…The board signed off with a celebratory attitude.
or tearing down equipment. He recounts this memory in
We didn’t need a lender as much as a partner. We didn’t
amazement, knowing how small yet significant it was.
realize we were stepping into a partnership rather than a
Evergreen grew rapidly from the beginning and had to
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borrower/lender relationship.”
think about expansion and establishing a campus. They
Since the inception of the loan, Evergreen has added
found a piece of land priced under market value and felt
11,000 square feet to its original 46,000 square feet and
it was right for them. The church approached the owner
has already outgrown the space with an average of 600
of the land expressing its intent to purchase. With limited
people worshiping every Sunday. Because of the gift given
financial history, Evergreen was amazed again as the
by a generous church member, Evergreen can now start
owner of the land agreed to carry the loan. Yet another
thinking about what’s next. Pastor Gabbert said, “It [the
blessing that came unexpectedly to Evergreen.
gift] was an encouragement because the church now
Generosity | The Baptist Foundation of Oklahoma | www.bfok.org
wants to know what comes next. No one is ready to get
a nontraditional church structure which facilitates people
comfortable. God has cleared the plate, because there is
to do ministry. No bureaucracy. When someone has
something else coming!”
an impulse, we have a default answer of yes. We try to
Having the new building and being debt free has allowed Evergreen to increase mission work but also to purchase
help facilitate them, and that has allowed our people to blossom,” says Pastor Gabbert.
a bulldozer and set aside money for financial assistance
The list is endless with how Evergreen has been blessed
for parents going through adoption. The building itself is
and how the church continues to give back what God
a staple in the community, housing weekly Bible studies,
has given them. They haven’t figured everything out or
a Chinese language school for the children of Chinese
done everything right. They just found their partners in
immigrants, and also a voting precinct.
ministry with the Foundation and trusted in God.
“Nothing is initiated from the pulpit. We have created
Increase the Impact of Your Gift – Give to an Existing Endowment Zach Potts is able to attend Oklahoma Baptist University because of an endowed scholarship. Partner with other Oklahoma Baptists by giving a gift of any amount to existing endowments through The Baptist Foundation of Oklahoma. What You Can Give: • Cash • Bonds • Check • Other Assets • Stocks • Online Donations
It speaks monuments to me about the faith of donors who give scholarships for OBU students to receive a Christ-centered education. Zach Potts, senior Applied Ministry major
DONATE ONLINE www.bfok.org | 800.949.9988
www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
13
FOUNDATION News Ernie Haase & Signature Sound
The Foundation will bring Ernie
Board Emeritus Ann Pryer Dies
Hills Baptist Church.
Haase & Signature Sound December
board
12, 2013 to Oklahoma Baptist
member
University, Shawnee, Okla.
passed away January
The founder and leader, Ernie
member
and
emeritus,
27, 2012.
Haase, is a tenor who was a long-time
She served as a board
member of the famous Cathedral
member from 1997-2000 on the
Quartet. After his time with the
Estate Stewardship and Promotion
Cathedrals, Ernie’s passion for gospel
Committee.
music led him to a new beginning.
“Ann
was
an
accomplished
He formed a group of like-minded
businesswoman
men who share his love for God, great
shared her wisdom, knowledge,
harmonies, time-honored songs and
talent and experience to advance
energetic performances. Together
the mission of the Foundation. She
they have become one of the most
was blessed and in turn sought to be
influential forces in southern gospel
a blessing to others,” said Foundation
music. The group has performed as
President Robert K. Kellogg.
who
generously
part of the Gaither Homecoming Tour
Pryer is survived by her husband
and won Gospel Music Association’s
of 59 years, W.E. Pryer, her four
Dove Awards.
children: Carman Cole (husband, Randy), Cayla Brumble (husband, Marc),
Scott
Pryer,
(wife,
Kay
LaValley), all of Tulsa, and Angela Moore (husband, Jim) of Little Rock, AR; 7 grandchildren, 9 greatgrandchildren, and one brother, Gary The group has performed with entertainer Mark Lowry who said about them: “One of the most exciting and ‘fun to watch’ groups I’ve ever
named
Executive
Assistant
to
the
President. She attended Toccoa Falls College, Toccoa, Ga. Before joining the Foundation, she worked at RBK Capital, LLC. She and her husband, Dane, have six children: Michelle, 23; Blake, 19; Brandon, 17; Cassidy, 16; Perry, 13; and Owen, 11. They attend Southern Hills Baptist Church. Brock Stoltzfus has been named assistant controller and serves on the Support Services Team. He is an OBU graduate with a degree in finance. Prior to joining the Foundation, he worked as an auditor at Finley & Cook in Shawnee. Brock and his wife Emily attend Quail Springs Baptist Church.
Client Appreciation Dinner The Foundation’s Annual Client
Plank (wife, Marion) of Tulsa.
Appreciation Dinner is scheduled
New Employees
Tower, 50th Floor.
for Tuesday, October 1 at the Devon
The Foundation recently hired three new employees: Amy Akins has been
had the pleasure of performing with.
named Trust Officer
Great guys all the way around!”
and
Early bird tickets will go on sale
serves
on
the
Services
“This night gives us the opportunity
For more information, call Jayme
Team. She is a 2012
to interact with our donors and
Glover at 1.800.949.9988, ext. 120 or
Oklahoma Baptist University graduate
to honor them for their giving
email jglover@bfok.org.
with a degree in management. She and
to kingdom causes,” said Shryln
her husband, Tyler, attend Cherokee
Treadwell, Chief Operating Officer.
Beneficiary
August 15 through October 1.
14
Andrea Olsen was
Ann Pryer, 77, former Foundation
Generosity | The Baptist Foundation of Oklahoma | www.bfok.org
Donor Services
By Dan Allen Chief Development Officer, Senior Vice President, Donor Services
Endowment: A Common Man’s Guide Do you know anyone who has an endowment fund?
Suppose that your church had five former members who
Probably not. When I started working at the Foundation
each left a tithe gift in their estate plan 20 years ago. These
in 1997 most people did not want to talk about the
were not wealthy families; in fact, each one had a modest
concept. Pastors and church leaders conjured up images
estate of $200,000 (including life insurance, retirement
of liturgical congregations whose tithing base dried up
plans and cash). The endowment would have started
due to the endowment revenue. Baptist church members
1993 with $100,000 and at the end of 2012 would be worth
naturally seem disconnected from the idea. People named
just over $142,000. Remember, the markets had some
Montague who studied back east set up endowments,
significant set-backs in the late 90s and again in 2007-2008.
right? is, has
But the truth
But the real power of
Foundation
the endowment concept
the
received
fewer
is in the cumulative
large gifts than most
impact of the annual
Oklahoma
income
Baptists
might assume.
distributions.
Our
During the last 20 years
history is not one
this endowment would
of large benefactors
have distributed more
leaving
significant
sums. Of course, we
‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12
than the original gifts (just over $127,000) to
have had several generous and faithful people leave large
the ministries of the church. In 2013 alone, the church
gifts over years. But the biggest impact on ministry has
would have an extra $6,700 to do missions, evangelism or
come from everyday Baptist families who faithfully gave
building needs that the regular budget might not be able
during their lifetime and wanted to continue their impact
to support.
after their death.
All of our state Baptist agencies have general
I think Baptist life needs to take a fresh look at the role
endowment funds that anyone can contribute to in large
endowment can, and does play, in furthering the Gospel of
and small amounts. A growing number of Oklahoma
Christ locally and around the world. My personal theology
Baptist churches have endowment funds and members
on endowment is that it is a permissible gift unlike our
contribute to them in a variety of ways. In fact, anyone
tithe, which is a Biblical command. But scripture does
can contribute as little as $25 to one of these funds on
teach the concept of endowment in Leviticus 25:21-22
our website at www.bfok.org by using the Donate Online
where we find the principal of the Year of Jubilee:
link.
“I will send you such a blessing in the sixth year that the
Endowments can be an important part of the funding
land will yield enough for three years. While you plant
needs to impact the world for Christ in the coming years.
during the eighth year, you will eat from the old crop and
Ministries must be patient because it takes time to build
will continue to eat from it until the harvest of the ninth
a fund and see the results. But, the more people that
year comes in.”
participate in giving, the greater the impact. www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
15
Investments
By David Depuy Vice President, Director of Investments
Market Report
Wealth Effect Begins to Take Shape As concerns over the fiscal cliff seem to have subsided
Product (GDP) growth, which is required for a robust
for the time being, the financial markets in the United
recovery, has recently slowed to its lowest level in two
States (US) have taken complete advantage of the positive
years to 0.4 percent in the fourth quarter. GDP is defined
sentiment with the S&P 500 Index rising 10.60 percent for
as the value of all finished goods and services produced
the first quarter. However, this positive sentiment seems
and it has averaged 2.5 percent yearly growth. A rate of
to be a US phenomenon as the returns for international
at least this level would be required to get unemployment
markets are more subdued with the MSCI EAFE Index
down to acceptable levels. This puts the Federal Reserve
rising 5.1 percent and the MSCI Emerging Market Index
in a precarious position as it is compelled to continue its
actually losing 1.62 percent. The Barclay’s Aggregate
easing program with already more stimulus than could
Bond Index also decreased 0.12 percent during the first
have been imagined just a few years ago.
quarter.
With
With the US markets
easing
so strong, many are
efforts, inflation was a
asking if it is possible
concern mainly because
for it to continue to
of sharp increases in
increase. There is no
commodity
simple answer, but it
However, a rise in
seems as though the
inflation does not seem
Federal Reserve’s bond
imminent, with most
buying plan, QE3, that
all
was announced last
showing no cause for
September and further
alarm.
advance
prices.
signals
increased the “balance sheet,” is beginning to have some
The Foundation’s Endowment Portfolio finished with a
success stimulating the economy. Keeping the long-term
performance of positive 8.52 percent for 2012 and has so
interest rates low has helped the recovery in the housing
far increased 3.36 percent during the first quarter. The
market and also increased consumer confidence. This is
Investment Committee will continue to evaluate the
most commonly referred to as the “wealth effect”, in which
Foundation’s current portfolio and future investments
consumers feel more comfortable about their ability to
by focusing on assets that are not correlated to the public
consume as they feel wealthier and, as a result, tend to
equity markets. This strategy is designed to reduce risk
spend more. This increase in consumer spending can also
while generating a return sufficient to grow the portfolio
lead to an increase in hiring and lower unemployment,
at the rate of inflation after all fees and the annual
which has recently dropped to 7.6 percent.
distribution.
Even with the economy having shown some signs of improvement, there are not enough reasons to pull back the stimulus just yet. For example, US Gross Domestic
16
quantitative
previous
Generosity | The Baptist Foundation of Oklahoma | www.bfok.org
If you have any questions about Foundation investments, please contact us at 1.800.949.9988.
By Jerry Vaughan Senior Vice President, Church Services
Church Building Loans & Investment Funds
What A Difference A Year Makes 2012 was a year of dramatic increases in both the church building loan and church funds management portfolios.
Equally exciting was the response to the Foundation’s church funds management program, a program designed
Loan demand in 2012 picked up significantly in the last
to give churches the opportunity to place funds with the
two quarters after being depressed for more than two and
same investment professionals used to invest the 2,233
a half years. Many churches that had delayed plans for
trust accounts managed by the Foundation. The most
expansion or other needs because of the weak economy
popular investment used by churches continued to be
took the opportunity to put these plans into action.
Church Building Loan Term Investments (CBLTI). These
The Foundation originated 45 loans exceeding $28
CD-like investments paid above average interest rates
million. These loans ranged from churches expanding their
and are backed by the Foundation’s church building loan
facilities for future ministry, purchasing vans and people-
portfolio, a loan portfolio diversified across 226 high
movers for transporting members to various events, and
quality loans to credit-worthy churches. One of the many
addressing simple renovation and maintenance issues. In
benefits of investing in CBLTI is to provide funds for the
each case, Foundation loans made it possible for these 45
Foundation’s church building loan program.
churches to accomplish
Many of the churches
the advancement of their ministries. The exciting part is that we at the Foundation get to be a part of that.
2010
a
result,
Foundation’s
$ 24,617,430
2012 2011
As
$ 20,230,489
$ 15,776,061
2008
$ 17,223,617
$73.4 million at the
funds
management
program were looking to maximize interest income while protecting
$ 13,648,836
the 2009 loan
portfolio grew from
that used the church
Church Funds Management Portfolio Balance
the principal of the investment.
We
feel
that CBLTI are a way to attain both of those
end of 2011 to $81.8 million at the end of 2012, or 11.5
investment objectives. In fact, the dollar amount of CBLTI
percent. The balance of the portfolio at the end of 2012 was
increased from $17.4 million at the end of 2011 to $22.3
the highest ever for the Foundation. More importantly,
million at the end of 2012, or 28.1 percent. The overall
$3.7 million of interest was paid on loans in 2012. This
church funds management portfolio increased from
$3.7 million was distributed to charitable causes, with
$20.2 million at the end of 2011 to $24.6 million at the
part included in the Foundation’s $9.8 million annual
end of 2012, as more than 190 churches took advantage
distribution in January of which $8.4 million went to
of the church funds management services offered by the
ministries in Oklahoma. So not only does the Foundation
Foundation.
provide a ministry-based lending option to Southern
If your church needs a loan or a place to invest, email
Baptist churches, it also provides a way for churches to
me at jvaughan@bfok.org or call 800.949.9988, ext. 108,
provide financial support for more than 300 ministries in
and we’ll partner with you to meet your financial needs
Oklahoma and around the world.
in 2013. www.bfok.org | The Baptist Foundation of Oklahoma | Generosity
17
Non-Profit U.S. Postage
PAID
3800 North May Ave. Oklahoma City, OK 73112
No. 1489 Okla. City, Ok
“One of the most exciting and fun to watch groups I’ve ever had the pleasure of performing with. Great guys all around.” Mark Lowry
Plan your group Christmas outing to see Ernie Haase & Signature Sound Thursday, December 12, 2013 Oklahoma Baptist University, 7 p.m. Early bird tickets will go on sale August 15 through October 1 $20 individual $18.50 groups of 10 or more For more information, call the Foundation at 1.800.949.9988, ext. 120 or email jglover@bfok.org.
800.949.9988 | www.bfok.org | 405.949.9500