For immediate release
Additional information: Maggie Archibald (800) 668-8016
The Christian Church Foundation Board of Directors gathered virtually from across the country, April 27, for their spring meeting. Though unable to meet in person, the board gathered via Zoom to conduct business and to hear about the faithful witness of Disciples during this pandemic. The board received reports on the Foundation’s resilience during the shutdown. “The world is confronting the greatest health threat of a generation, one that profoundly impacts the church and the global economy,“ reported President Gary Kidwell. “The response of our ministry partners to this crisis has been incredible. I am so proud of my church! The past couple of months have been a good reminder of why we are in covenant with each other. These unprecedented times are being met with an unprecedented effort.”
Three new members were elected to the Board of Directors. Mr. Shawn Sandoval of Irvine, CA, is the Director of Business Development at Viewpoint Financial Network and has been very involved in the Pacific Southwest Region. He and his family are members of Harbor Christian Church in Newport Beach, CA. Mrs. Raiza Spratt of Portland, OR, was a personal banker and supervisor at JP Morgan and Bank of America. Mrs. Spratt is originally from Puerto Rico and she and her family are active members at Murray Hills Christian Church in Beaverton, OR. Mr. Tom Wood of St. Louis, MO, is a retired business executive and currently serves as the treasurer for the Mid-America Region. He is a member of Webster Groves Christian Church. Mr. Sandoval, Mrs. Spratt, and Mr. Wood will begin their service on the Board of Directors in January 2021.
The Foundation’s investment consultant, Prime Buchholz, shared their perspectives on the disappointing first quarter 2020, which followed 2019’s record-breaking year. A significant cost reduction for partner investors was effective January 1, 2020 and will provide higher investor returns as the markets recover. The Board voted to retain the current defined-Income Rates for 2021: Common (3.75%), Beasley (4.0%), Campbell (4.25%), Bostick (4.0%), Brown (2.5%).
These are the amounts used by the Foundation and offered to our investors as a disciplined way of balancing the dual goals of endowment funds: providing maximum funding for ministry, while also protecting the inflation-adjusted value of endowments for future generations. “Economic cycles will come and go,” said President Kidwell, “but our focus is always on moving money to mission–today and tomorrow.”
The Board’s next meeting will be November 13-15 in Denver, CO.