We celebrate the completion of our first full year of operations since the reorganization of MB Stewardship Ministries into our new organizational structure. This journey was not easy, yet it was necessary, and God was gracious. It is humbling to consider the Lord’s blessing, the support of our investors, and the commitment of staff and board members enabling us to serve our constituency. We consider it a privilege to use the resources we have been entrusted with to help others thrive in their ministry context.
CCMBC Legacy Fund Inc. is a Canadian Registered Charity whose sole member is our national conference, and we serve as a resource to our 230 churches, provincial conferences, and ministry partners. Legacy provides payroll and accounting services for many of our churches and conferences, which they value for saving them significant time and expense. We administer the group insurance program that ensures all conference employees and retirees have access to comprehensive and affordable health, dental, and insurance coverage. We administer CCMBC’s Pension Plan that helps participants prepare for retirement.
“To those who use well what they are given, even more will be given, and they will have an abundance (Matthew 25:29a)”.
For more than 40 years, the Lord has blessed our people with the resources and heart to fund Kingdom growth. Today, many pastors own homes and churches have buildings thanks to your participation in MB Stewardship Ministries. These investment and lending activities continue through Legacy’s subsidiary CCMBC Investments Ltd. By investing in promissory notes, our investors provide the capital necessary for us to extend mortgages to our churches, pastors, schools, and camps, enabling them to have a presence in the communities they serve. The difference between the rates charged to borrowers and paid to investors provides the “margin for ministry” that helps Legacy to provide payroll, accounting, benefit, and pension services to our constituency.
In 2020, Legacy was blessed with an operating surplus and a significantly strengthened balance sheet. With God’s blessing and the continued support of our investors, we are in a stronger position to discern how best to concurrently eliminate the amount due to Legacy (incurred during reorganization) and establish appropriate operating reserves. We anticipate having a plan and timeline outlined by early summer, supported by applicable policies. Once these objectives are achieved, we will develop policies to determine the funds that can be donated to CCMBC for ministries in a given year. The CUSP is central to this process.
Join us in prayer as we seek:
Thank you for being part of the ministry of Legacy!
Respectfully submitted by
Jason Krueger, CEO