Guidestone Trustees Hear Positive Reports, Progress Toward Strategic Plan
August 6, 2015FOR IMMEDIATE RELEASE
GuideStone trustees hear positive reports, progress toward strategic plan
By Timothy E. Head
NASHVILLE, Tenn. — Continued growth of assets and business punctuated reports from GuideStone executive officers to trustees during their summer meeting. Trustees heard reports from the Retirement, Investment, Insurance, Property & Casualty and Mission:Dignity program areas within GuideStone.
GuideStone Financial Resources trustees met together in regular session July 27–28 at the Omni Nashville Hotel.
GuideStone President O.S. Hawkins addressed trustees about GuideStone 100, the ministry’s long-range plan that guides its work to its centennial year in 2018 and beyond.
“There is much work ahead,” Hawkins told trustees,” but GuideStone has the enthusiasm and energy to finish strong to reach GuideStone 100.”
Among the challenges to trustees, Hawkins asked trustees to be prayer warriors in regards to GuideStone’s appeal to the U.S. Supreme Court over the U.S. Department of Health and Human Services contraceptive mandate that would force certain ministries served by GuideStone to provide abortion-causing drugs and devices to women participants or face crippling penalties. Churches and integrated auxiliaries of churches, including GuideStone, are exempt from the mandate as religious employers.
“We want our employers to know, regardless of what happens at the Supreme Court, we’ll have a solution for all of the employers we serve,” Hawkins said.
Investments
GuideStone Funds, which became available for investment by church members in May 2014, continue to grow and returns continue to remain positive, John R. Jones, chief operating officer, said.
“The growth in GuideStone Funds is due not only to a robust financial market, but the additional leveraging by the expertise of the GuideStone Capital Management, LLC, staff,” Jones said, speaking of the entity that serves as adviser to GuideStone Funds. Over the last several months, GuideStone Capital Management has added several team members with long tenures in leading financial institutions, who also share a commitment to the cause of Christ as members of Southern Baptist churches.
Organizational assets have remained about $12.9 billion since May 2014 and reached a new, all-time high of $13.4 billion in May 2015 before tapering back down to the 12-month average of $13.2 billion in June.
Retirement
Total contributions are on pace with 2014, Jones said, and average account balances have grown along with the markets. GuideStone continues to grow its expanded audience of like-minded evangelical churches and ministries that it serves, while Southern Baptist churches and institutions continue to comprise more than 90% of participants.
GuideStone continues to address the needs of the aging, and now retiring, Baby Boomer generation, much as others in the retirement industry. Jones said opportunities to serve this generation are growing each year.
Insurance
“We experienced dramatic results in the insurance line of business with increases in enrollment,” Jones said. “We are very gratified with year-over-year group enrollment. Our health care programs are healthy and remain viable for our participants.
“There are positive possibilities ahead for GuideStone, even in the face of challenges with the Affordable Care Act.”
Insurance rates will be communicated over the next few weeks; average increases are expected to be in the single digits for Personal Plans participants.
Property & Casualty
GuideStone’s alliance with Brotherhood Mutual Insurance Company continues to provide benefits to Southern Baptist churches, Jones said. Written premiums have increased by $1 million, or 14.2%, from 2014 to 2015. Nearly 340 accounts have renewed, which represents a renewal rate of more than 99%.
“2015 has been a robust year for the property and casualty line of business, which remains in good stead,” Jones said.
Mission:Dignity
GuideStone’s heartbeat, Mission:Dignity, continues to serve retired pastors and their widows in desperate financial need. The ministry added 1,600 new donors in 2014, with more than 7,100 churches participating in Mission:Dignity Sunday June 28. Close to one million bulletin inserts were distributed to Southern Baptist churches.
For the second year in a row, giving for the first half of the year was up 5% from the previous year, Jones told trustees, reminding them that 100% of gifts given go to help a retired pastor or his widow.
After a trustee-approved increase in 2014, the neediest individuals receive $450 per month in assistance and couples receive $600 per month.
Hawkins asked trustees to seek out retired pastors and ministers’ widows who might qualify for assistance, saying it is a challenge to find new recipients because so many are so humble, and many admit they struggle to ask for help.
GuideStone trustees will meet again in February in Dallas.
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You should carefully consider the investment objectives, risks, charges and expenses of the GuideStone Funds before investing. A prospectus with this and other information about the Funds may be obtained by calling 1-888-GS-FUNDS (1-888-473-8637) or downloading one at GuideStoneInvestments.com/funds. It should be read carefully before investing.
GuideStone Funds shares are distributed by Foreside Funds Distributors LLC, not an advisor affiliate.
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Timothy E. Head is executive officer of denominational and public relations at GuideStone Financial Resources of the Southern Baptist Convention.
Media Contact — Tim Head, Executive Officer for Denominational and Public Relations Services, GuideStone Financial Resources, SBC. Contact Mr. Head via email, , or telephone at (214) 720-4706.