Investing in Kingdom growth.
Funds Administration
Investment Management
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A growth stock fund, the MBF Equity Fund is designed for capital appreciation with little emphasis on income. The Fund is invested in stock offerings of U.S. and international corporations by six outside professional money managers. The Fund has as its benchmark the S&P 500 and the Russell 3000. The Fund has the following asset allocation targets:
Large Cap Growth - 22%
Large Cap Value - 35%
Global Core - 13%
Mid Cap Value - 10%
International - 20%
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A bond fund, the MBF Fixed Income Fund is designed to provide income, with little attention given to capital appreciation. The Fixed Income Fund is invested in U.S. government securities and corporate bonds by three outside professional money managers. The Fixed Income Fund is benchmarked against the Barclay’s Capital Aggregate Index. The Fund has the following asset allocation targets:
Government and Govt.-backed bonds - 30%
Corporate Bonds - 30%
Fixed Income Mutual Funds - 40%
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The MBF General Endowment Fund is designed to meet the long-term investment objectives of perpetual endowment accounts. The Endowment Fund seeks to provide a reasonable level of income, which is paid out to the many Baptist causes, while growing the principal of the fund by the inflation rate over time, thereby guarding against the effects of inflation. The Endowment Fund is invested in a preset allocation between stocks, bonds and alternative investments.
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The MBF Short Term Cash Fund is designed to out-perform the current yields from six and twelve month certificates of deposit, as well as the 91-day Treasury bill rate. A money market type fund, the Short Term Cash Fund matches a competitive rate of return with full liquidity. The Fund is managed by the Southern Baptist Foundation.
Cash Management
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Established in the late 1990s, the MBF Short-Term Fund was the first offering by the Mississippi Baptist Foundation to assist churches with their cash management needs. Administered through the Southern Baptist Foundation (SBF) in Nashville, TN. The MBF Short-Term Fund is a pooled/commingled fund, with underlying investments as follows:
Certificates of Deposit of U.S. banks - 75%
U.S. Treasury securities - 12.5%
High-quality bonds issued by U.S. corporations - 12.5%
The interest rate is set monthly and is subject to the fluctuations of short-term interest rates. Interest is posted to each account as of the last business day of the month.
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For Mississippi Baptist churches and institutions that have specific maturity dates for their funds, the MBF can purchase and manage national market Certificates of Deposit (CDs) offered by various U.S. banks. These CDs are purchased through Morgan Stanley. Each CD is covered by FDIC insurance.
Seminars
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Featuring a discussion of the Christian’s Last Will and Testament and its importance, the MBF’s Wills Seminar includes a discussion of valid Wills in Mississippi, the probate process, estate taxes, property ownership, and gifts to the Lord’s work.
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The MBF’s Investments Seminar provides a discussion of investments to help individuals understand the concept of risk vs. return, the importance of asset allocation, and the various classes of assets that can be used to meet an individual’s investment objective.
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Schedule the Financial Gifts Seminar to host a conversation focused on the tax advantages and methods for making charitable gifts, including: outright gifts, appreciated property gifts, insurance gifts, and life income gifts such as charitable remainder trusts, gift annuities, and pooled income funds.
Ministry Accounting
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Invoices and bills are electronically scanned and forwarded to the Mississippi Baptist Foundation. Accounts Payable entries are made in the accounting system. Checks are created in a PDF file format. The PDF file is then securely transmitted to the Church for printing, signing, and mailing of checks to pay the expenses.
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The Church keeps the check book and can write any checks needed.
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Many churches have moved to electronic giving. The church provides the Foundation with a password and the accounting entries (including contribution tracking) can easily be made.
Gifts made via cash or check to the Church can be documented and a deposit made just as it is now. The Church then provides the Foundation the information needed for contribution tracking and to record the deposit made by the church.
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Most banks offer on-line access to bank statements. The church provides the Foundation with a password that allows the Foundation to easily and securely get a copy of the bank statement.
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The Church receives the Credit Card bill. Items listed on the bill are categorized according to church policy. The bill is then transmitted to the Foundation. The entry is made allocating all the charges to the proper accounts. A check is created in PDF format and securely transmitted to the Church for printing and mailing.
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Sure. Documentation for the Debit card transactions are submitted to the Foundation for recording in the accounting system.
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Payroll is handled via a 3rd party payroll company whose software integrates with the Foundation software. Payroll can be direct deposited into employee accounts. For any employees paid hourly, the Church would need to furnish documentation of the hours worked by the employee. In addition, all IRS Form 941, as well as W-2 and W-3, forms are completed and filed in a timely manner.
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The cost is based on the actual amount of work/transactions that are required, along with the number of employees on the payroll. Contact the Foundation today for an estimate.
