Newsletter

The mission of the Tennessee Baptist Foundation since its inception in 1938 has been to assist the Convention and its institutions in increasing awareness among Tennessee Baptists of Christian estate stewardship as a means of financially under girding churches, institutions and mission endeavors on a permanent basis. The Foundation assists by offering estate planning counsel, will preparation, planned giving, charitable remainder trusts, endowment funds and church and associational fund management. Dr. Gary Coltharp and I are available to counsel individuals and present an estate planning seminar to any of these groups. During the fiscal year ended October 31, 2006 the Foundation had 31 new funds established totaling $4,029,226. Counting new funds, additions to existing funds, income added to principal and realized capital gains, the Foundation received $18,639,943 in new money during the year. We also returned principal to churches and institutions in the amount of $8,922,330. These funds were used by the various institutions to build and maintain buildings, scholarships and operating funds. During the year just ended, the funds under management earned $5,502,000 with $928,404 paid to trust beneficiaries and the remaining $4,573,000 available for Baptist causes designated by the various donors. Scholarships were awarded to 380 Tennessee College students, and since 1987, the Foundation has awarded 4,712 scholarships totaling $3,047,000. We of the Tennessee Baptist Foundation are pleased to have completed another great year of service to Tennessee Baptists. We pray God’s richest blessing for you and your family in the New Year. Bo Childs