More Than $600,000 Given to Benefit the Fellowship of Grace Brethren Churches
According to a letter being sent to investors this week, Grace Brethren Investment Foundation (GBIF) has contributed over $600,000 to benefit various ministries of the Fellowship of Grace Brethren Churches.
Ken Seyfert, executive director of operations for GBIF, said “With His Guidance, we attained net operating income of $998,135, as we experienced a steady flow of new project financing throughout the year, which resulted in $600,600 in ‘goodwill contributions,’ as the majority of net surplus has been used to further God’s work in and through the Fellowship of Grace Brethren Churches.”
Also communicated is that an “above market” conservative savings rate of 2.25% compounded daily is being maintained and a listing of those FGBC ministries assisted with financing for new or improved facilities in the year 2011:
- Grace Brethren Church and Christian School of Clinton, Md.;
- Western Reserve Grace Church of Macedonia, Ohio;
- Iglesia Comunal La Esperanza of Valrico, Fla.;
- Grace Family Church of New Holland, Pa.;
- Winona Lake Grace Brethren Church of Winona Lake, Ind.;
- Marysville Grace Brethren Church of Marysville, Ohio;
- Grace Church of Orange, Calif.;
- Grace Brethren Church of Fort Wayne, Ind.;
- Community Grace Brethren Church of Goldendale, Wash.;
- Liberty Grace Brethren Church of Johnstown, Pa.; and
- The Happy Church of Jackson, Ky.
Included in the mailing is the latest annual prospectus of GBIF which gives a thorough explanation of ministry and operations of the Foundation and includes GBIF’s audited financial statements for the fiscal year ended December 31, 2011.