Reighna Priest Former OBHC Resident Breaking the Mold

Reighna Priest
Former OBHC Resident
Breaking the Mold
Generosity Magazine
Spring 2014
A magazine for clients and stakeholders who support The
Baptist Foundation of Oklahoma’s mission to promote
charitable planned giving and provide financial management
for the gifts that strengthen Southern Baptist ministries.
Production
S Design | design layout
Jayme Glover | editor & writer
Taprina Milburn | writer
Christian Sangree | photographer
Marcus Wehmuller | photographer
Send questions/comments to:
Editor, Generosity
3800 North May Avenue
Oklahoma City, Oklahoma 73112
[email protected]
Letter from the President
Over the past year, the Foundation has worked under
the new goal of distributing $25 million to frontline
ministries by the year 2025. Each new year will bring
new goals that need to be met in order to reach the
ultimate goal of 25 × 25. This year, the objective was to
distribute $15.2 million in 2013. This number meant
that we, as an organization, were on track to meet our
overall objective. We are pleased to announce that
we met and exceeded that number by 22.7 percent,
making our 2013 charitable distributions $18.6
million. The largest part of that overarching number
Administration
is our annual distribution made from our endowment
Robert Kellogg | president & ceo
Dan Allen | chief development officer, senior vice
president, donor services
Janna Charles | assistant to the president &
corporate secretary
David Depuy | vice president, director of investments
Jayme Glover | interim director of marketing
& communications
Brad Johnson | vice president, controller
Andrea Olsen | executive assistant to the president
Michael Romero | vice president and trust counsel
Shryln Treadwell | chief operating officer, senior vice
president, beneficiary services
Jerry Vaughan | senior vice president, church services
Jim Wilsie | chief financial officer, senior vice president,
support services
accounts at $11.9 million, as well as distributions from
Area Managers
planned gifts, donor advised funds, and income from
church funds management accounts.
Numbers and goals are important, because they give us
something to benchmark against. But numbers don’t
make success. Success is counted in the lives saved at
Hope Pregnancy Center every day, in the stories of
salvation for victims of a massive tornado, in the pastor
who receives living assistance he couldn’t otherwise
afford, and in the securing of a future in ministry at
Oklahoma Baptist University. These are our success
stories and the reason behind our goal of 25 × 25.
Thank you for helping make this first year a success.
Curt Gathright
Kathy Lee Hatchett
Paul Kersh
Jerry Zumwalt
Robert Kellogg, President & CEO
Generosity is published in the fall and spring by The Baptist
Foundation of Oklahoma, Oklahoma City, Oklahoma.
Recipients include approximately 10,000 clients, stakeholders,
and churches in Oklahoma. To request a copy or to update
mailing information, please call 1.800.949.9988.
2013 Annual Distribution
BENEFICIARY. . . . . . . . . . . . . . . . . . . . . AMOUNT
Baptist General Convention
of Oklahoma. . . . . . . . . . . . . . . . . . . $1,350,690
Baptist Village Communities. . . . . . . . . $340,956
“…through us your generosity will result in thanksgiving to God.”
II Corinthians 9:11
Oklahoma Baptist Homes
for Children. . . . . . . . . . . . . . . . . . . . $3,433,764
Oklahoma Baptist University. . . . . . . . $4,398,420
Churches and Associations. . . . . . . . . . . $797,352
Southern Baptist Convention. . . . . . . . . $460,621
Other. . . . . . . . . . . . . . . . . . . . . . . . .$1,119,331
Total . . . . . . . . . . . . . . . . . . $11,901,134
Reighna Priest:
Former OBHC Resident
Breaking the Mold
The mission of Oklahoma Baptist Homes for Children is to help
children become capable, caring Christian adults by sharing Christ’s
love and providing hope and homes for children. That mission is fully
recognizable in the life of Reighna Priest.
Features
4
6
10
12
Love of Children
Reflected In Gift
Reclaiming a Life Free
of Domestic Abuse
Promoting Biblical
Studies
Becoming the Church
Jesus Wants Us to Be
Departments
13
15
Church Building Loans & Investment Funds ‑
Need to Build? Where to Start?
Donor Services - Your Other Bucket List
by Jerry Vaughan, Senior Vice President,
Church Services
by Dan Allen, Chief Development Officer,
Senior Vice President, Donor Services
16
Investments
by David Depuy, Vice President, Director of Investments
generosity
Spring 2014
1
Former OBHC Resident Breaking the Mold
by jayme glover
The mission of Oklahoma Baptist Homes for Children is to help children become
capable, caring Christian adults by sharing Christ’s love and providing hope and
homes for children. That mission is fully recognizable in the life of Reighna Priest.
Reighna was an eighth grader when
she first stepped foot in the Baptist
Home for Girls in Madill, Okla. At
just 13, she found a home there when
her grandparents found it too difficult
to raise her due to their age. Having
been raised by her grandparents
from infancy, she never knew what
it was like to have parents. That
is, until she met the Weises, her
houseparents. Reighna remembers her
first impression of the Girls Home,
“Everyone just seemed so smiley, so
happy and loving and caring.”
During her stay at the Girls Home,
Reighna was able to participate in
trips and activities that she may not
have ever experienced elsewhere. She
traveled across the United States,
from Washington State to Colorado,
even to Mississippi and Washington,
2
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Spring 2014
D.C. The purpose of these trips
ranged from mission work to
leadership training, but all trips
were purpose-driven.
Possibly one of the most interesting
and life-shaping activities Reighna
was able to participate in was the
Agriculture Program at the home.
This program is one of the staples
of Oklahoma Baptist Homes for
Children. Many of the residents
are members of the program and
compete on impressive scales
throughout the state. Reighna,
now 19, was very involved in ag, as
she affectionately calls it and still
volunteers her time to help the girls
in their training. The program
taught Reighna responsibility as she
recounts having to feed the animals
everyday starting in the summer as
well as walk them, groom them and
weigh them, making sure they stayed
the ideal weight for competition in
the spring. Reighna excelled in ag
receiving Second Reserve Grand at
the county competition her very first
year. However, her best showing had
her one place away from making it
into the city sale.
Reighna loved the traveling and the
ag program at the Girls Home, but
that was not the most important
thing that happened to her while
living there.
“My relationship with God definitely
did get stronger once I moved
there,” says Reighna as she recounts
journaling her first night in the home
about how she knew this was God’s
plan for her life. “Having godly
AN ENDOWMENT is created to support
the continuing work of many varied
ministries and institutions. The annual
investment income of the funds helps with
the operations of the institution or ministry
while the principal remains intact.
A DONOR ADVISED FUND (DAF)
allows you to select the charities and
distribute funds over time. When you make
contributions to the DAF, you receive a
current income tax deduction for the full
amount of the contribution to the DAF.
A CHARITABLE BEQUEST is a bequest
written in a will or testamentary trust that
directs a gift to be made to a qualified
exempt ministry when you pass away.
people around you is really awesome,
and it really impacted my life.”
As Reighna and her husband, Dexter,
welcome their first baby into the
world this summer, she plans to
emulate the Weise’s parenting
style, “I’ve always loved how my
houseparents treat their kids, they
discipline in a loving way.”
Reighna and Dexter will celebrate
their first anniversary this June right
before the birth of their child in July.
Both are working and going to school.
Reighna hopes to be able to pursue a
career in the ag program at the Girls
Home upon graduation so she can
“give back to what has given so much
to her,” as she says.
Reighna knows her life wouldn’t be
the same if it wasn’t for the Children’s
Home or for the support given by
donors to keep programs like ag
going. To those donors and potential
donors, Reighna stresses “if the
Children’s Home didn’t exist then
I wouldn’t have gotten people that
I can call parents. I would never have
gotten the opportunity to participate
in the ag program. It taught me
responsibility. You have to care for
something, and you’re responsible
for it every single day, and it sounds
simple, but it’s a life lesson. When
you are ready to have a child, it’s
a similar principal in that you are
responsible for a life.”
The Children’s Home taught Reighna
how to physically care for a child
while her house parents taught her
how to emotionally care for a child.
Reighna is now a capable, caring,
Christian adult who can adequately
nuture and show Christ-like love to
her own child.
To learn more about giving through the
Foundation in order to change lives like
Reighna’s, contact 1.800.949.9988.
A CHARITABLE GIFT ANNUITY (CGA)
allows you to make a gift to ministry while
receiving tax benefits and regular, fixed
payments for the rest of your life and
the life of your spouse. In addition to the
gift annuity payment, you also receive a
current income tax deduction for part of
the gift’s value.
A CHARITABLE REMAINDER TRUST
(CRT) allows you to receive an income tax
deduction and may bypass capital gain
taxes. At the termination of the trust, the
remainder is used to benefit the Baptist
ministry of your choice. CRTs may be
established during life or at death through
your will or revocable living trust.
A CHARITABLE LEAD TRUST is an
arrangement that allows you to make a gift
of cash or property through the Foundation
to a Baptist ministry for a specific number
of years. The trust pays income to your
Baptist ministry of choice. At the end of the
designated time, the assets left in the trust
are then distributed to your family or other
designated beneficiaries.
generosity
Spring 2014
3
Love of Children
Reflected in Gift
by taprina milburn
Pat Simpson’s mother, Virgie Watson, enjoyed watching beautiful things
grow. When Virgie moved from Oklahoma to California to live with her
daughter after the Murrah Building bombing in 1995, she brought along
her Oklahoma poppy seeds.
“She spent a lot of time outside in the yard, walking around looking at the
plants. Or so I thought,” Pat remembered. “Little did I know that she was
planting poppy seeds all over the flower beds.”
For the next 15 years the Simpsons had a variety of poppies bloom in their
yard. But as Virgie’s health declined, she stopped tending to the plants.
“I hadn’t seen poppies for a couple of years until a few months after mother
died. I came around the corner and at the front corner of the flower bed
was a huge bunch of red poppies. The plant came up and bloomed without
any attention. It was so large and strong and produced the most beautiful
flowers that you could imagine. I think that it was mom saying goodbye
and, ‘Enjoy my flowers,’” Pat said.
Virgie also loved to be a part of ministries that helped children grow.
About 26 years ago, she funded a gift annuity through The Foundation
with $10,000. During those years, she received approximately $800 a year,
an estimated total of about $21,200. When she passed away in February
2013, (at age 99 ½) the gift annuity paid out the remainder, per Virgie’s
4
generosity
Spring 2014
instructions, $8,068.76 to the Oklahoma Baptist Homes
for Children’s Boys Ranch Town endowment.
“Mother always had a love for the kids there,” she said.
Pat remembers when she was a young girl in GA’s (Girls
in Action) that her mother would take the group to
Oklahoma Baptist Homes for Children to play with
the kids.
When Virgie died in February, Pat received a letter from
OBHC letting her know that they had received money
from the closed gift annuity. “I couldn’t imagine how
that $10,000 could cover $800 per year all those years
and still have money left over to go to Oklahoma Baptist
Homes for Children.
“I understand that not all stories are the same, mother
invested at a time when returns were high, but I say, God
was the one who did this,” Pat said.
Virgie and her husband, Leroy Donald (L.D.) Watson,
Pat’s father, met at Exchange Avenue Baptist Church and
began dating when they were teenagers. She had plans
to work as a hair dresser to help earn money for school
so that she could study to be a geologist. But those plans
changed when she attended a revival at her church.
“My dad leaned over one night and whispered into her ear,
‘Will you marry me?’ Mom didn’t know what to do; she
had her life planned out. She got up and walked out of
the church, but she felt a hand on her shoulder,” Pat said.
“Mom believed it was God saying, ‘Go back. Marry him.
Teach children about the Lord.’”
“She taught children about the Lord for almost 50 years,”
Pat said.
The couple raised their family in Oklahoma City and
both were involved in teaching youth in their church—
L.D. was also a Boy Scout leader. Virgie worked as a
Sunday school teacher, youth leader, and took many
groups of young girls to Falls Creek throughout the years.
Sadly, Pat’s father died in 1973 of a heart attack at age 59.
Virgie became involved in ministry work at Knob Hill
Baptist Church, helping other women who had lost
their husbands.
“My mother had the reputation that if you wanted a job
done, you give it to Virgie. If you want it done well, put
her on the committee. If you don’t want it to get done,
don’t let her get close to the committee,” Pat said.
Beginning on her mother’s 98th birthday, the family
started the tradition of releasing as many colorful balloons
as her mother’s age; they repeated it on her 99th birthday,
hoping to do it once again on her 100th.
“She had a better birthday for her 100th than we could
have planned for her,” Pat said.
To learn more about how to leave a legacy like Virgie’s, contact
the Foundation at 1.800.949.9988.
Your Gift Can Make A Difference
Benefits of a Charitable Gift Annuity
Predictable Income for Life While Giving to Ministry
• Receiveacharitableincome
tax deduction the year you
establish the gift annuity.
• Receiveanincomeforlife.
• Avoidpartofcapitalgains
taxes if gift is funded with
appreciatedsecurities.
OklahomaBaptistHome
for Girls Ag Program
• Worry-freeinvestmentmanagement.
• AgifttosupportSouthernBaptistministriesof
your choice at your death.
For more information about how your gift
annuity can benefit ministry,
visit www.bfok.org or call 1.800.949.9988.
The BapTisT FoundaTion oF oklahoma
3800 North May Avenue
Oklahoma City, Oklahoma 73112
800.949.9988
generosity
Spring 2014
5
DAYSPRING HELPS VICTIMS OF SEX
TRAFFICKING KNOW THEY ARE
GOD’S CHILDREN
DaySpring Villa is a certified shelter
that helps adult victims of human sex
trafficking, the first shelter of its kind in
the state. To date, they have helped 57
women, several bringing their children
with them into the shelter.
“For most of the women who come to
DaySpring from sex trafficking, shame
is the greatest barrier to not only
acknowledging their need for help, but
accepting it,” said Executive Director,
Wilma Lively.
Lively feels strongly that it is important to
drop judgments and pre-conceived ideas
about how women get into sex trafficking.
“We have to stop referring to the women
as prostitutes when we see them on
the streets or hear that they have been
arrested, for the word prostitute denotes
a choice,” she said. “None of the 57
women that we have helped chose
this life.”
Lively explained that the term that should
be used is “prostituted.” “The prostituted
women who come to DaySpring Villa
believe that nobody cares about them
and that they are disposable property, a
reusable resource. We are committed to
helping them know that they too are a
child of God.”
6
Reclaiming a Life Free of
Domestic Abuse
by taprina milburn
When Yvette tells the story of where she has been and where she is today
in her life, the 30-year-old can’t keep from smiling.
“DaySpring Villa saved my life,” she said.
Three years ago, Yvette was in an abusive marriage, pregnant, and
homeless. She called 211, the national crisis intervention and referral
service line, and learned about DaySpring Villa, Oklahoma’s first
faith-based, certified women’s and children’s domestic violence and sex
trafficking shelter.
DaySpring Villa originally opened in the 1980s as the Baptist Women’s
Shelter. Because of gifts through the Foundation, individuals, and
churches, it is able to offer a unique environment that emphasizes
Christian spiritual guidance in combination with emergency shelter, food,
medical services, and clothing. Staff also help women set practical goals in
a variety of areas including job training and placement, parenting, as well
as helping them to rebuild their confidence, self-esteem, and independence.
“We help hurting women and their children find the hope they have
in Christ and to be all that God wants them to be,” said Wilma Lively,
Executive Director.
“When I heard about DaySpring, that was the answer for me,” Yvette said.
“Financial support from Foundation donors,
individuals, businesses, and churches is so
important to DaySpring Villa because it
shows these women that they are worthy,
and they are loved,” said Lively.
Yvette grew up without a father and watched along with her siblings the
cycle of abuse her mother was in, seeing her beaten often by different
boyfriends. Her mother eventually got help, but it had misshapen Yvette’s
perceptions of what a relationship looked like.
Give to the ministry of DaySpring Villa
by visiting www.bfok.org and select
“Donate Online.”
“My little sister’s dad beat my mom every day. I saw my mom crawl into a
corner because she was so afraid to move,” Yvette remembers. “When you
grow up seeing that, you believe that’s just the way things are. You don’t
always recognize how bad it is because you get used to it.”
generosity
Spring 2014
Yvette spent 11 months at DaySpring, which she prefers to
call a home with many loving sisters and mothers rather
than a shelter. When she arrived, she was four months
pregnant with her son Nathanael and owned a bag of clothes
and a blanket. The support she was immediately surrounded
with and the time she had to build her confidence and faith
in Christ, helped buoy her when her full-term pregnancy
ended with her son being delivered stillborn.
“If I had not been at DaySpring when I went through
Nathanael’s death, I don’t know how I would have survived
it,” she said.
Today, Yvette has her own house and works as a certified
nursing assistant at a hospital, where she shares her story
of hope with others. She will begin school in the fall to
become an ultrasound technologist. She adds that because
of her help through DaySpring Villa, she now knows what
a healthy relationship looks like. Yvette is engaged to be
married next December.
“DaySpring gave me the ability to let go of the past and
look to the future to the new woman I am today,” she said.
DaySpring’s Sex Trafficking and Domestic Abuse shelter is confidentially located with
secure access for guests and their children. It offers 17 guest rooms that are cheerfully
decorated and neatly furnished with beds, dressers, nightstands and infant furnishings.
Guests and their children are provided with all basic necessities, including hygiene
products, clothing and food. The facility is equipped with a large kitchen and dining
room, TV room, library, snack center, child recreation room, outdoor play area, and
donation rooms filled with toys, clothing and basic household items.
To learn more about DaySpring Villa and how you can donate to this ministry through
the Foundation, contact 1.800.949.9988, or to donate online, visit www.bfok.org.
generosity
Spring 2014
7
The Colemans:
Why We Chose an Estate Plan
with the Foundation
by taprina milburn
Pastor Landon Coleman, First Baptist, Kingfisher, and
his wife Brooke completed their estate plan through
the Foundation. Below is a question and answer
article that explains why they believe having a will is
important to them and why they chose to work through
the Foundation. The couple has three daughters.
8
How did you learn about
the Foundation?
What does the estate plan mean
for your family?
Colemans: A church member (Greg
Kannady) has a good working
relationship with the Foundation
and has served on their board. Not
being a native Oklahoman, I did
not know about the Foundation or
any of the services they provided. As
a board member wanting churches
and pastors to know about the
Foundation, Greg connected me
with Foundation staff. We actually
scheduled a Sunday where President
Robert Kellogg preached in our
church, and led a forum during
Sunday school where he talked about
the Foundation’s services. So we
chose the Foundation because of the
recommendation of a trusted church
member and the denominational
connection as Southern Baptists.
Colemans: The estate plan gives us
peace of mind about our daughters
in the event that something were
to happen to Brooke and me. Our
decisions and wishes have been
documented, and they are ready to
be legally executed.
generosity
Spring 2014
Share your thoughts on being
able to give to a Baptist ministry
through your estate plan.
Colemans: At this point in our lives,
we certainly don’t have much of an
estate to leave behind. However, the
point is not a dollar amount, the
point is stewardship. Brooke and I
were blessed to come from families
that taught us how to practice Biblical
stewardship, and we believe that
“Our resources are
ours only in the
sense that God has
entrusted them to
us, and in every way
possible we want to
be good stewards
of those resources.”
The Foundation’s Auguie Henry Society was formed in 2006 to
recognize families and individuals who have included a gift to
a Baptist ministry as a part of their estate plans. Currently, the
Auguie Henry Society has 1,546 members, who, as a group,
have named approximately 911 charitable causes in their estate
plans. AHS members have given in the form of a planned gift or
designated as future testamentary gifts more than $152 million
for ministry causes.
international mission board
stewardship should continue when we
are gone. Not only is this an issue that
matters to us, but it is also an example
we want to set for our children. Our
resources are ours only in the sense
that God has entrusted them to us,
and in every way possible we want to
be good stewards of those resources.
What do you hope the ministry
you give to is able to do with
the resources?
Colemans: Brooke and I picked
two ministries to give to from our
estate. One is the Southern Baptist
Theological Seminary and the other
is the International Mission Board.
Southern Seminary was instrumental
in preparing us for ministry, and
we pray that they would continue
to train ministers and missionaries
for decades to come. The IMB has
always been close to our hearts, partly
because we both grew up in churches
¹The Foundation reimburses a portion of a
client’s legal fees if they leave a 10 percent gift
in their estate plan, half of which must go to
a Southern Baptist ministry and may include
the Southern Baptist church they attend.
that gave significantly to Lottie
Moon, and partly because so many of
our friends have served through the
IMB. In both of the gifts, we hope to
see the Great Commission fulfilled,
both here and around the world.
What would you like other
families to know about having
a will for their families?
Colemans: Especially for those with
children, completing an estate plan
that includes a guardianship for your
children is something you need to
do. The process of working with the
Foundation and their recommended
lawyers was totally painless and
extremely simple. There was no
inconvenience on our part, and it
was something we should have done
years ago. In addition to the practical
benefits of having your estate plan in
place, there is also the stewardship
issue. And I would want families to
²Landon Coleman and his family recently left First
Baptist Church, King fisher and are now serving
at Immanuel Baptist Church, Odessa, Texas.
see the importance of managing well
the resources God has entrusted to
them, even in death.
Was the legal fee reimbursement
plan an important part of
your decision?¹
Colemans: Absolutely! This was a
huge blessing to our family, and a
motivating factor in our decision
to go through this process, and
go through this process with the
Foundation. All that is required is
the estate gift to a Southern Baptist
ministry. Since this is something we
believed in already, it was really a
win-win situation for our family.²
To learn more about creating an estate plan through
the Foundation, visit www.bfok.org and select “Begin
Your Estate Plan Now” or call 1.800.949.9988.
generosity
Spring 2014
9
Bob and Gerald “Jo” Carner:
Promoting Biblical Studies
by taprina milburn
BENEFITS OF A CHARITABLE
REMAINDER UNITRUST
• Income for life, lives, or term of years
• Avoid capital gains on the sale of your
appreciated assets
• Charitable income tax deduction for
remainder portion of your
gift to ministry
• Future legacy gift to ministry
10 “If it had not been for Oklahoma Baptist University and the faithful
supporters who made it possible, I would not have had an education,” said
Rev. Bob Carner, Mounds, Okla. After his service in the United States
Army, Carner attended OBU on a scholarship, graduating with degrees in
sociology and Bible. He studied under longtime religion professor,
Dr. Rowena Strickland.
“Dr. Strickland taught from the Bible, not from textbooks,” he
remembered fondly of his late professor. “She taught it as an integral part
of our history. I’ve never found a substitute for knowing the Scriptures.”
His gratitude for his time at OBU and admiration for his professor’s
dedication led the Carners to establish a Charitable Remainder Unitrust
(CRUT), conveying a piece of rental property. The CRUT will ultimately
benefit the Rowena Strickland Professorship in Bible. The Carners will
receive an income for life from their CRUT.
HOW TO SELECT THE RIGHT
UNITRUST PAYOUT FOR YOU
• The standard unitrust pays out a
percentage of the trust assets each year.
• Another payout option used commonly
for real estate permits the trust to sell
the property tax free and then begin
paying you income after the property
has been sold.
“Our gift is from the heart,” Rev. Carner said. “I give to OBU because I
want to honor Dr. Strickland and see the quality of ministerial education
continue to progress positively and strongly.”
For more information about this type of
giving arrangement, call the Foundation
at 1.800.949.9988.
To learn more about a charitable remainder unitrust, contact Dan Allen, Chief Development Officer for
The Baptist Foundation of Oklahoma, 1.888.480.6191 or email [email protected]. To make an
online gift to ministry, visit www.bfok.org and select “Donate Online.”
generosity
Spring 2014
The Rowena Strickland scholarship was first awarded
in 1999, a total of 15 awarded since its genesis. The
professorship was fully funded in November 1997, and the
first Rowena Strickland Professorship in Bible was awarded
in 1999. Those who have served include, Dr. Bobby Kelly,
Dr. Justin Hardin, and Dr. Alan Bandy.
Strickland, who died in 1997, was a distinguished
service professor of biblical studies from 1953-80. She
achieved the title of professor in 1962. In 1977, she was
the fifth professor and the first woman to receive OBU’s
Distinguished Service Professor title.
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Spring 2014
11
INTEREST PAID IS DISTRIBUTED TO
KINGDOM CAUSES
Interest paid on land or construction
financing through The Baptist Foundation
of Oklahoma is distributed to more
than 300 Southern Baptist ministries
and charitable causes every year. In a
typical year, almost $4 million is earned
in interest from church loan financing
through the Foundation and helps various
organizations throughout Oklahoma,
across the nation and around the world.
COMPETITIVE INTEREST RATES
AND TERMS ON LAND AND
CONSTRUCTION LOANS
Interest paid and distributed to Kingdom
causes is a significant benefit of your
loan through the Foundation, but we also
want Oklahoma churches to get a great
interest rate and terms for their land and
construction loans. In most cases, the
interest rate will be lower than can be
obtained through other lending sources.
Check out the interest rate page on our
website and see for yourself.
LOW CLOSING COSTS
The only closing costs associated with
the Baptist Foundation of Oklahoma’s
church loan financing are: an Origination
Fee, which helps offset some of the
costs of the construction and land loan
program, Mortgage Title Insurance and
a Mortgage Filing Fee. No appraisals
or surveys required and there are no
prepayment penalties.
FAST AND CONVENIENT
CHURCH FINANCING
All that is required to begin the church
loan financing process for your church’s
building project is for you to submit a
Church Building Loan application. We
give you two online options for obtaining
an application. You may also call us at
800.949.9988, ext. 4271, and we will
mail a complete package.
12 generosity
Spring 2014
Becoming the Church
Jesus Wants Us to Be
by jayme glover
When Pastor Mark Sinor talks of his church, one
growing rapidly in the ever-increasing district of
Deer Creek, located in West Edmond, this goal is
at the top of North Pointe Baptist Church’s list.
North Pointe has dreams and goals to help them become that church, but
Pastor Sinor and his staff have it right when they, as he says, “don’t put
the ministry cart before the spiritual horse.”
“When your dreams become separate from God’s dreams, there is no
success,” he said. So, North Pointe chooses God’s plan over their own,
and it has proven successful as they have celebrated many exciting
ventures in the first year of opening the doors to the first phase of the
building project initiated in March 2012 through a loan with the Baptist
Foundation of Oklahoma. When space became an issue, North Pointe
teamed up with the Foundation to construct a building that would be
used initially as a worship center but would eventually serve as a welcome
center in the coming years. North Pointe was also able to build an entire
wing of children’s ministry facilities that are much larger than in the
previous building.
The new worship center has the potential to hold 350-450 people, a
large increase from the old building. Since opening, North Pointe has
held their largest fall festival, an open house for the community. North
Pointe was also one of very few churches chosen to host the showing of
the Ragamuffin Gospel movie. With an increased emphasis on worship,
North Pointe was able to invest in new lighting and sound equipment
that has taken the experience to an entirely new level. In February, the
church held its first ever NOW (Night of Worship) and plans to make it
a recurring event.
North Pointe Baptist Church is located in the heart of Deer Creek on
220th between MacArthur and Meridian directly west of Rose Union
Elementary School. This location, though only one and half miles from
their previous location, was God-ordained as Pastor Sinor explains North
Pointe positioning itself as a community church in Deer Creek. Just
one of the many ways they are attempting to do this is by hosting an
annual Daddy-Daughter dance at
the intermediate school that brings
in 120 to 150 families. This year will
mark the fourth annual dance.
“We are constantly looking for ways to
impact our community,” said Sinor.
Another way North Pointe is
impacting the community is through
the mentoring of a leadership group
of eighth grade boys. Pastor Sinor
heads the group teaching the boys
to be strong leaders today and in the
future, impressing upon them the
need to be a light and to stand for
Christ on their school campus. He
hopes to expand this group and even
extend it to include other age ranges.
As North Pointe listens to God’s
direction on how to impact the
community, the church has faith that
God will open more doors to other
ministry opportunities.
Speaking about the future of his
church, Pastor Sinor states, “I want
to go and do and be whatever God
wants us to be and nothing more.”
To contact the Foundation about the future
of your church, call 1.800.949.9988.
Need to Build? Where to Start?
by jerry vaughn
In recent months, I have received
a number of calls from churches in
need of additional space, whether
it’s worship and/or education space.
Growth has caused this need and
in most cases these calls have been
seeking advice on what to do next.
what to build can be confusing. I
recently talked to a pastor who knew
they needed a bigger sanctuary due to
growth the church was experiencing,
but his biggest concern was, “how big
should we build it?” It can be broken
out like this:
Know what you want.
a.List of building elements you want
in the project.
b.List of your functional needs.
c.Put together a plan which includes
ministry, finance, and facilities.
Identifying the need is the first step
in the building process. You have
to know what you need in order to
know what to build. Even knowing
continued on page 14
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Spring 2014
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continued from page 13
Which brings us to the next step
in the process, finding someone to
help in the design of the project.
An architect can be very helpful
in the planning to help with the
feasibility of facilities with respect
to site conditions, existing facility
coordination, general construction
cost, project cost, and even life
safety issues. In some cases, design/
bid/build contracting firms have
qualified people who can fulfill this
part of the process. Whoever is hired
at this stage will be able to meet with
the church to get an understanding
of the scope of the project and will
be able to help in clarifying the
actual needs.
Plan your building project.
One of the benefits of the design
process is that it brings into focus the
cost of a project. Knowing what to
build is important, but knowing its
cost is crucial. This will determine
important issues, such as fundraising
and financing. This is also when
the personality of a church emerges.
Should the project be built debt free?
If debt is acceptable, should upfront
cash be raised before construction
begins? Or, should fundraising
be combined with debt? These
are important discussions and can
determine the timeliness of the
actual start of construction. You
should build a team which consists
of church representation, architect
and engineering consultants, and
the contractor. Planning before
construction can help avoid problems
during construction.
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Spring 2014
Once you’ve planned, now you
can begin searching for financing.
Once project costs are known and
how much upfront cash is available,
financing the remainder is a critical
step. Seeking financing for a project
can be a daunting task. At the
Foundation, we understand that
going into debt is a serious matter.
We want to partner with churches
to help them borrow wisely with
an appropriate level of debt. The
loan application process is easy to
understand and is styled to avoid
paperwork nightmares.
Build the facility.
Be involved in managing the project
budget, timelines, and expectations of
the church. Rely on the design firm
and contractor to keep you informed.
Don’t leave it up to them to make all
the decisions. The church is a critical
part of keeping the project in line and
in making key decisions.
It’s important to note here regarding
expectations. Generally, we all like
to think everything will be perfect
before, during, and after a project is
completed. The truth is that in every
construction project there will be
difficulties to overcome, but we want
to partner with you to manage those
expectations and get the building
you want.
Call us today to schedule a meeting, 1.800.949.9988.
“We want to
partner with
churches to help
them borrow
wisely with an
appropriate
level of debt.”
Your Other Bucket List
by dan allen
TRUST BUCKET CHECKLIST
These are the type of accounts
that should be in your trust:
•checking
accounts
•savings accounts
•brokerage accounts
•home
•other real estate
•mineral interest
•automobiles, boats
and motorcycles
•life insurance (secondary
beneficiary designation)
I’m not talking about the bucket
list where you mark off “sky diving”
or “attend a World Series game”
before you go home to be with the
Lord. No, this one deals with those
of you who have set up a revocable
living trust (RLT).
Your RLT is NOT self-funding. In
other words, you have to retitle assets
into the name of the RLT in order for
that asset to avoid probate if you died.
I often illustrate this when I speak to
groups by having two buckets with
me – one called “your stuff” and the
other called “your revocable trust.”
Check your bucket lists every few
years to make sure that “your stuff”
bucket is either empty or only
contains assets that have a beneficiary
designation feature. Life insurance
and retirement plans are the most
common type of asset. These type
of accounts will avoid probate if the
beneficiary designations are filled
out correctly. Your spouse should be
your primary beneficiary on both in
most cases. You can list your RLT by
name on the secondary designation
so that the death benefit proceeds
will be distributed according to your
wishes in case both spouses pass away
at the same time. Retirement plan
assets typically just list the spouse as
primary and children and/or
charities as secondary beneficiaries.
Sending these assets to your RLT can
accelerate the amount of taxes owed
when they are transferred.
Your trust bucket should show
that your RLT owns all your bank
accounts, brokerage accounts and
real estate. A lot of people who
create RLTs get their assets properly
transferred into the right buckets
initially, but over time get accounts
back into their joint or individual
names. This usually is done
inadvertently by opening a new bank
account or buying real estate in their
name instead of their RLT.
So while you’re out there marking
off things on your bucket list, don’t
forget to check your other bucket
list on occasion to make sure your
revocable living trust is properly
funded. Otherwise, your spouse or
children run the risk of having to
probate some of your assets before
they can receive them. After all, that’s
what you were trying to avoid by
setting up an RLT in the first place.
If we can help you with this or any
other estate planning needs please
contact us.
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Spring 2014
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GDP Growth
GDP 50 Yr Avg
Unemployment
Unemployment 50 Yr Avg
12
10
8
6
4
2
0
-2
-4
Market Report
by david depuy
It comes as no surprise that
uncertainty and volatility continue
to be the theme for 2014. After
posting some of the biggest gains
last year since 1997, the S&P 500
Index showed only slight growth of
a positive 1.81 percent in the first
quarter. The index was down by 3.46
percent in January before turning
positive by 4.57 percent in February,
definitely showing us that volatility
is here to stay. Globally, the MSCI
EAFE was flat at 0.00 percent and
the MSCI EM lost 0.80 percent.
The Barclay’s Aggregate Bond Index
matched the S&P 500 with a positive
1.84 percent for the quarter. The
muted returns in the first quarter are
being partially blamed on the very
harsh weather experienced by most of
North America. I suppose that when
it is too cold to leave your home, it is
hard for consumers to spend, which
is a driving force in the economy.
As spring approaches, the outlook
is much more positive. In March,
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Spring 2014
1984
1987
1990
1993
1996
the Labor Department released a
report showing a steadily decreasing
unemployment rate as more people
found work and more people joined
the labor force. This encouraging
report suggests the economy is
prepping for solid growth in the
near future after a bit of a slowdown
during the winter. As you can see in
the chart, both unemployment and
growth are slowly returning to their
50 year averages.
The Federal Reserve’s Quantitative
Easing program was an unprecedented
stimulus to the economy over the
past five years that must eventually
come to an end. In January, the
Fed began the much anticipated
tapering by slowly paring its bond
buying, in part due to the outlook
on economic growth. Some investors
propose that the tapering will cause
harm to the economy, however, an
alternative theory is that the intended
stimulus has actually been a sedative
to economic growth. The effect of
the stimulus has reduced the spread
between short and long term interest
rates which discourages bank lending,
loan growth, and money supply.
Regardless of which theory proves to
1999
2002
2005
2008
2011 2013
be correct, a return to normalized
rates will be welcomed by the
investing community.
The Foundation’s Endowment
Portfolio moved even closer to its
strategic asset allocation and increased
its diversification by committing to
three new private investments and
two directional hedge funds at the
end of last year. The Foundation’s
Investment Committee first set this
strategic allocation in the fall of
2011 and has worked very diligently
over the past two years finding
managers that will not only meet
our investment objectives, but also
invest in such a way to avoid securities
offensive to Southern Baptists. The
portfolio ended the year positive
12.94 percent, surpassing our
benchmark required to provide equity
among generations by 5.44 percent.
For the trailing five years, the return
has been 9.22 percent, surpassing the
same benchmark by 0.80 percent. So
far in 2014, the portfolio is positive by
1.05 percent.
If you have any questions about Foundation
investments, please contact us at 1.800.949.9988
or email [email protected].
Foundation News
Baptist Foundation Announces
Annual Distribution to Ministries
The Baptist Foundation of Oklahoma announced
that $11.9 million was recently made available
to ministries across the nation and worldwide,
including more than $10 million to Baptist
ministries in Oklahoma.
“We are grateful for our donors who want to
support Baptist ministries with a Biblical
worldview that impact lives long-term,” said
Robert K. Kellogg, President and CEO of
The Baptist Foundation of Oklahoma.
Since 1946, Foundation donors have supported
the care of children, provided rental assistance
and living expenses for senior adults, sent
volunteers to help during local and national
disasters, and provided scholarships that
allow students to receive a Christian liberal
arts education.
The 2013 annual distribution, made on January
31, 2014, was given to the following Oklahoma
Baptist ministries and institutions:
$1.35 million to The Baptist General
Convention of Oklahoma.
• $340,956 to Baptist Village Communities.
• $3.43 million to Oklahoma Baptist Homes
for Children.
• $4.39 million to Oklahoma
Baptist University.
• $797,351 to Southern Baptist churches and
associations in Oklahoma.
• $460,620 to the Southern Baptist Convention.
•
Borrowing Against CBL Investments
We’re pleased to announce a brand new way to borrow money from
the Foundation. Historically, if a church needed to borrow money,
even for small projects, the Foundation required a first mortgage on
property owned by the church.
Now, if your church has an investment in the Foundation’s
Church Funds Management program in the form of CBL Term
Investments, those can be used as collateral for loans taken out
with the Foundation. The benefits to the church are no need for
a mortgage to be placed on the church’s property, no need for
mortgage title insurance (and the resulting cost), and no closing
costs. The best thing about pledging CBL Term Investments is the
quick turnaround time from application to closing.
If you would like more information about this new way to borrow money, contact Jerry Vaughan
at [email protected] or call 1.800.949.9988.
Baptist Foundation Announces
New Interim Communications Director
The Baptist Foundation
of Oklahoma announces
the appointment of Jayme
Glover as Interim Director of
Communications. Glover, who has
served as Assistant to Churches
for three years, will lead the
organization’s marketing and
communications efforts.
In her duties as Assistant to Churches, she assisted the
communications team in social media marketing as well as video
and magazine production.
Jayme is a 2010 graduate of Oklahoma Baptist University with a
double major in marketing and finance. She will begin working on
a Master’s Degree in Communications this fall.
To learn more about how to leave gifts to ministry through
The Baptist Foundation of Oklahoma, visit www.bfok.org or
call 1.800.949.9988.
She attends North Pointe Baptist Church.
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Spring 2014
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NON-PROFIT
ORGANIZATION
U.S. POSTAGE
PAID
OKLA. CITY, OKLA.
PERMIT NO. 1489
3800 North May Ave.
Oklahoma City, OK 73112
CAN LOAN INTEREST HAVE MINISTRY IMPACT?
The Impact of a
Foundation Church Building Loan
In the last 10 years, more than $29 million in church building
loan interest has been collected and distributed
to Southern Baptist ministries.
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s
inistrie
BGCO M
SBC and
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Churche
T HE B APT IS T F OUNDA T ION
tions
/Associa
inistrie
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“We’re doing more than just paying our note off;
we’re giving back to Baptist causes.”
- Pastor Larry Calvert
First Baptist Church, Oilton
OF
O KLAHOMA
Jerry Vaughan, Senior Vice President, Church Services • 1.800.949.9988, ext. 108 • [email protected]