MB Foundation passes $100 million in assets

MB Foundation, based in Hillsboro, reached several milestones in 2009, according to Jon Wiebe, president and chief executive officer.

The Mennonite Brethren non-profit agency broke the $100 million mark for the first time with assets at the end of the year of just under $110 million, up from $94.3 million in 2008.

?We are humbled by the growth we?ve experienced and recognize that we are only stewards of what others have entrusted to us,? Wiebe said.

?We are equally excited to report that our expectancies, gift funds in the pipeline for a variety of charities, ended the year at $105,739,146. This is a testimony to the generosity of others.?

MB Foundation seeks to help people with their charitable objectives. Despite the sluggish economy, the foundation helped facilitate more than $1.63 million in charitable gifts to other charities.

Contrary to public perception, nearly 30 percent of that amount went to non-Mennonite Brethren charities, Wiebe said.

Though it serves a national clientele, MB Foundation also distributed $200,125 to Hillsboro charities.

?Over the years, many Hillsboro charities have benefited from the work of the foundation, and many Hillsboro-area residents have used the foundation to fulfill their charitable objectives,? Wiebe said.

Two new employees were added to the Hillsboro office during the past 18 months to better serve national and local clientele.

Wiebe said MB Foundation money managers did well in 2009, with the standard endowment portfolio earning 20.74 percent for the year.

Wiebe listed several other highlights for 2009: Certification as a Best Christian Workplace, a nationwide Stewardship Survey, launch of a new Web site (mbfoundation.com) and the introduction of online account access for certificate and loan customers.

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