Also, the GBIF board of directors approved a total of more than $745,000 in goodwill contributions to help a variety of Charis Fellowship ministries.
“God has once again blessed the GBIF ministry, shares Ken Seyfert, president and CEO. “We have been able to maintain our rate paid to investors while financing a number of church-related projects for our Fellowship. It is also our joy to share the blessings in the form of contributions to benefit Charis ministries.”
GBIF exists as a “church extension fund” affiliated with the Charis Fellowship and as defined by the North American Association of Securities Administrators. The ministry is regulated by the securities laws of the 38 states in which they have investors. The primary purpose of the Foundation is limited in scope by these regulatory authorities: “To enable individuals who support the objectives of the Charis Fellowship to invest funds at a reasonable rate of interest and to provide thereby a source of funding in the form of capital loans for acquiring, developing, and remodeling land and buildings for Charis churches, schools, and other associated organizations.” GBIF is precluded from making loans to individuals and can only loan funds to 501c3 churches and organizations within the Charis Fellowship.