MINUTES OF THE BAPTIST FOUNDATION OF ILLINOIS BOARD OF TRUSTEES

Fall Meeting 2021

The Fall meeting of the BFI Board of Trustees was held at the Springfield Southern Baptist Church, at 225 North Grand Ave East, Springfield IL, on 10/01/2021

The Agenda

Call to order David Grove Board Chair

Opening Devotion and Prayer Ben Foxworth

Roll Call

Review of Last Meeting’s Minutes; Adoption of Agenda

Executive Director’s Report

Administrative Committee Report & Recommendations

Mihaela Sexton Board Secretary

Mihaela Sexton

Doug Morrow Executive Director

Dan Huffman Vice-Chair

● Motion: To approve the 2022 BFI Operating Budget as presented.

● Motion: To authorize BFI management to begin a process of drafting a Memorandum of Understanding with IBSA and BCHFS, acknowledging and encouraging our shared efforts in our general work to expand the Christian Kingdom and our efforts to improve stewardship and generosity among Illinois Baptists.

● The Administrative Committee has elected Don Carlyle, Chair; Pam White, Vice-Chair; and Ben Foxworth, Secretary.

Investment Committee Report & Recommendations

● Report on Investment Performance

Dave Rochleau Chair

● Motion: BFI is authorized to distribute endowment gifts at a calculated rate based on the total return for 12 regressive quarters. Twice annually, the Investment Committee will recommend to the Board of Trustees the distribution rate for the subsequent two quarters following a meeting. For quarters 4Q21 and 1Q22, the Investment is recommending a distribution of ¼ of 5%.

● The Investment Committee has elected Dave Rochleau, Chair; Alan Monroe, Vice Chair, and Bruce Guebert, Secretary for service during 2022.

Scholarship Committee Report & Recommendations

Tim Sadler Chair

● Motion: BFI award the 2021 Christian Service Grant of $2,500 to the First Baptist of Litchfield for their Tending the Vine Children’s Ministry

● The Scholarship Committee has elected Tim Sadler, Chair; Anthony Richardson, Vice Chair; and Nedra Robinson, Secretary for service during 2022.