brown on green, A Regular column about finances

From 1980 to Zero to Eighty

Free Will Baptist Foundation began as a dream in the mind of Herman Hersey. His dream became a reality in 1980, when delegates to the National Association of Free Will Baptists in Anaheim, California, established the Foundation on the afternoon of July 23, 1980.

Progress was slow as Hersey began the process of educating Free Will Baptists on the value and impact the Foundation could have on the denomination. Total assets were less than $1 million when Heresy retired July 31, 1993.

William Evans followed Hersey as director from August 1, 1993, until July 31, 2007. Under his leadership, the Foundation experienced rapid growth. The first charitable remainder unitrusts were established in the planned giving aspect of ministry, along with large additions to gift annuities.

Changes were made to bring the investments of the revocable trust pool under the Foundation’s direct control. The investment policy of the revocable trust pool was changed to project an earnings rate. The rapid growth increased total assets more than 30-fold, reaching $34 million by the time Evans retired.

Since 2007, the momentum that began under Evans has continued with dramatic additions to revocable trusts and major additions to new planned gifts, including the first $1 million planned gift, made just recently.

Estate planning and a grant program also have been added to the ministry of the Foundation. On June 30, 2019, the total assets of the Foundation exceeded $80 million for the first time. The chart above illustrates the progress the Foundation has made over the decades. It has been a remarkable run for the last 39 years. We give all glory to God for His blessings and thank Him for the ministry made possible by these funds.

Total Assets by Year

1980..........................................$0
1985..........................................$184,492
1990..........................................$481,127
1995..........................................$2,796,842
2000..........................................$8,199,532
2005..........................................$33,042,615
2010..........................................$38,226,088
2015..........................................$63,055,391
2019 (June 30)............................$80,000,000+

About the Columnist: David Brown is director of Free Will Baptist Foundation. To learn more about the grants program, visit www.fwbgifts.org.