2023 BCLC Annual Report

Follow The Light

The Light of Life

Dear Friends,

Lighthouses are beacons of light, marking harbors and hazardous coastlines for sailors. The first lighthouse recorded in history was Egypt’s Pharos of Alexandria, built around 280 BC. It was one of the seven wonders of the ancient world and for centuries was the tallest man-made structure in the world. The source of the light was a huge open fire at the top of the tower that helped guide sailors into the port at night. Unfortunately, by the 1300’s the lighthouse had become an abandoned ruin because of damage from earthquakes in the region.

The first American lighthouse, Boston Light, was built in 1716 on Little Brewster Island in Boston Harbor. In its over 300 years, Boston Light has been in the middle of battles and seen many shipwrecks. Boston Light has been renovated several times and is the only manned lighthouse in our country. Its light continues to be visible for twenty-seven nautical miles into the Atlantic Ocean, guiding ships into Boston Harbor.

In 2000, the U.S. Congress passed the National Lighthouse Preservation Act, which created the process of transferring lighthouse ownership into private hands, including government agencies, nonprofits, educational organizations, and other groups. Since 2000, more than 150 lighthouses have been transferred. Currently, there are 779 standing lighthouses in the United States.

Lighthouses and more current navigational aids existing on modern sea vessels warn sailors of peril and guide ships safely in and out of ports. Without lighthouses or navigational aids, sailors have little hope of avoiding shoreline dangers or finding the port. For a Christian, the lighthouse symbolizes the guidance and salvation provided by Christ to a dark world.

In John 8:12, Jesus said, “I am the light of the world. Whoever follows me will never walk in darkness, but will have the light of life.” At the Baptist Church Loan Corporation (“BCLC”), it is the light of Christ that provides our guidance. We are grateful for the churches with whom we partner, and who also look to the light of Christ for guidance. During Fiscal Year 2023, the Lord provided relationships with churches that led to loan fundings of over $57 million — the largest annual loan fundings in the history of the BCLC.

Thank you, Lord, for the men and women who give their time to serve on the BCLC Board of Directors and for the churches that we are privileged to serve.

To God Be The Glory,

Gerald R. James, Jr. President / CEO

A Beacon of Hope to Light the Way.

When a ship is at sea, it relies upon a host of instruments, tools, and people to safely navigate its course. But, even when all parts are working together as one well-oiled machine, nothing takes away from the challenges of sailing open waters through the dark. In these instances, a guiding light has to lead the way.

Through this lens, we see why the lighthouse is symbolic of hope; it serves as a beacon of direction and safety amidst treacherous waters.

In the realm of churches and religious organizations, the Baptist Church Loan Corporation (BCLC) has emerged as a radiant waypoint, illuminating the paths of countless congregations as they’ve sailed the seas of uncertainty. Just as a lighthouse stands tall amidst turbulent waters, guiding ships to harbor, BCLC has become an unwavering source of support, inspiration, and spiritual guidance for churches when they have needed it most.

And in our best year ever, the light of BCLC has shone with an unmatched brilliance. With John 8:12 acting as our beacon of light, we’ve pushed even harder in our efforts to counsel, assist, and empower churches as they navigate the financial challenges of our modern world.

Our Mission

BCLC exists to assist churches in their efforts to spread the gospel by providing affordable real estate related loans.

In fulfilling this mission, our priorities are to:

• Focus on the long-term spiritual and financial health of each church we consult.

• Provide our churches with straightforward terms, rate options, and underwriting guidelines.

• Serve as many churches as feasible, regardless of their size, longevity, or ethnicity.

Our Leadership

Board of Directors

Bryan Rogers BCLC, Chairman of the Board Richardson, Texas

Russell Shelton Orlando, Florida

Lynne Meers Irving, Texas

Ralph Ramsey Denton, Texas

Jan Cason Woodway, Texas

Mike Mason BCLC, Vice Chairman Dallas, Texas

Ryan Gibson Abilene, Texas

Philip Price Irving, Texas

Glenn Gaines Carrolton, Texas

Corporate Officers

Gerald James, Jr. President/CEO

Landon Yeager Senior Vice President/CFO

Jamye Cappadonna Helotes, Texas

Barbara Jane Kaplan Dallas, Texas

Kelly McBrayer Richardson, Texas

Bob Gage Senior Vice President

The Oaks Church

“Right from the first meeting, it has been a true partnership working with BCLC because our goals were their goals.”

Since The Oaks Church opened its doors on Easter Sunday in 2017 to a congregation of 59 people, the Cincinnati, Ohiobased church had steadily grown in attendance, even through the period of COVID lockdowns. When we first spoke to founding Pastor, Terry-Lee Kirkland, The Oaks Church was meeting at their third location in as many years. And with the church’s extensive outreach work in the community bringing in a larger, more diverse audience — including many students from the nearby University of Cincinnati — it became clear that the church needed to grow its space in order to continue growing its ministry.

But while Pastor Kirkland’s church was blessed to see growth in the face of tribulation, another church in the same community was facing financial constraints, which ultimately forced them to downsize locations. It just so happened that the building’s 20,908 square feet of space made it the perfect size for The Oaks Church’s vision — to establish a lasting place of worship in the very neighborhood it had already become intertwined with.

After meeting with other prospective lenders, Pastor Kirkland said, “right from the first meeting, it has been a true partnership working with BCLC because our goals were their goals. They believe that to follow Jesus Christ is to never walk in darkness, and they understood right away how much this new space would allow us to bring more people into the light of God through worship.”

The Oaks Church’s acquisition of a loan and subsequent purchase of their new worship facility marked the start of a new chapter for both church and community, establishing a permanent presence to forge deeper connections, and make a lasting difference in the lives of those they serve.

Under the leadership of Pastor Terry-Lee Kirkland and the guidance of their dedicated elder team, The Oaks Church is poised to enter an exciting new chapter, characterized by continued growth, spiritual nourishment, and meaningful community involvement.

Harbor Church

“When we partnered with BCLC, it truly exemplified the church’s belief in the continued growth and impact of our ministry.”

Founded in 2016 by Pastor Josh Adams, Harbor Church began with a modest congregation of 13 members gathering in Adams’ home. With the assistance of the North American Mission Board (NAMB) and Grace Church in Avon, Massachusetts, Harbor was incorporated and acquired an existing building as part of NAMB’s SEND initiative. Over the following three years, the church raised funds and renovated the building, which had previously served as a pet store. During this time, Harbor conducted its services in the basement of a nearby church. In 2019, the renovations were completed, and Harbor Church moved into its current facility.

Since then, Harbor Church has experienced remarkable growth, as evidenced by a weekly attendance of 1000+ individuals across five contemporary services. The church witnessed 90 baptisms in 2022, attracting individuals from various denominations and across multiple generations along the way. This continued growth led to the recent purchase of a second location to enable the church to serve even more people in their community. Despite starting from humble roots, they’ve trusted in their calling and taken bold steps to further grow the church. They demonstrated faith in their community outreach efforts, financial stewardship, and the support of their members.

Similarly, their loan request and expansion plans require a certain level of faith. Pastor Adams says “when we partnered with BCLC, it truly exemplified the church’s belief in the continued growth and impact of our ministry.” By seeking financial assistance to refinance debt, purchase a new facility, and undertake renovations, Harbor Church is placing their trust in God’s provision and the support of their community.

John 8:12 reminds us that faith is not limited to earthly matters, but extends to heavenly things as well. In the case of Harbor Church, their faith in God’s guidance and provision is reflected in their expansion plans and the belief that their ministry will continue to flourish. Just as Jesus challenged his listeners to have faith in heavenly matters, Harbor Church’s journey reminds us of the importance of trusting in God’s plan and believing in the possibilities that lie ahead.

LifeHouse Church

“Our situation led us to seek out a partner with whom we could really build the foundation for a lifetime of growing our ministry. This was about so much more than money, it was about us being able to continue serving this community from our house of worship.”

From their humble roots as a small, home-based bible study to launching their first “campus” out of a fire hall, LifeHouse Church has experienced remarkable growth. They welcomed over 100 members in the first two years before the church moved its worship location to a local school where they thrived on the support of a growing community. In 2020, LifeHouse Church transitioned to its current location, giving their evergrowing congregation a place to call their own.

Notably, the congregation of LifeHouse reflects the vibrant and diverse community it serves. Situated within a two-hour radius of major metropolitan areas such as New York City, Philadelphia, Washington D.C., and Baltimore, LifeHouse Church stands as a strategic hub for ministry. As their light shines ever brighter, they expect their church to grow accordingly.

Their dedication to expanding the Kingdom of God extends beyond their immediate vicinity, as the church has successfully planted two new churches and sent over 100 members to lead and support these endeavors. Additionally, LifeHouse Church annually sends a mission group to Senegal, demonstrating their commitment to global missions.

LifeHouse Church currently occupies a 20-acre site situated at 101 Karins Boulevard. In 2016, the church acquired this property, marking their biggest step yet in terms of financial commitment. Notably, the construction of a remarkable 40,000 square-foot multi-purpose building was completed in 2020 and in the process, led them to BCLC to find a solution for refinancing debts incurred.

As Pastor Mark Lashley noted, “Our situation led us to seek out a partner with whom we could really build the foundation for a lifetime of growing our ministry. This was about so much more than money, it was about us being able to continue serving this community from our house of worship.”

OVER 57 MILLION

DOLLARS* FUNDED

to churches throughout the United States.

*Fiscal year 2023

BCLC has funded loans in 31 states 62%

OF

U.S. in mission support resulting in

$2.4 MILLION in church attendance OVER 9,500

States BCLC has funded loans in the last three years