Grace Brethren Investment Foundation (GBIF) recently successfully completed an annual audit for the fiscal year 2017, setting a new record in net operating income at $1,419,921.
Also, the GBIF board of directors approved a total of $760,000 in additional goodwill contributions, bringing the total to over $800,000 for the year, which will be disbursed soon to help a whole variety of ministries in the Charis Fellowship (Fellowship of Grace Brethren Churches).
“We are honored and humbled how God has blessed GBIF this past year,” said Ken Seyfert, president and CEO. God has enabled us to maintain a two percent rate (with no exposure to world stock markets) conservatively to our investors. We continue to finance ministry building projects in a number of states. It is also our joy to help our Fellowship in the form of goodwill contributions.”
GBIF exists as a “church extension fund” affiliated with Charis Fellowship (Fellowship of Grace Brethren Churches) 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 a source of funding in the form of capital loans for acquiring, developing, and remodeling land and buildings for Charis Fellowship churches, schools, and other associated organizations. GBIF is precluded from making loans to individuals and can only loan funds to 501©(3) churches and organizations within the Charis Fellowship.