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About
• Mission
• History
• Annual Report
• Financial Information
• Eligibility Requirements

Posted: 7/15/08

History

On September 1, 1954 the Revolving Building Trust, a Loan and Investment Fund of the Baptist General Conference, came into existence. It began with an initial gift of $88,000 from the Revolving Building Fund of the Baptist General Conference. The formation of the Revolving Building Trust challenged conference church members to invest their reserve funds in the Trust, to be made available to Conference churches as loans for the financing of new buildings, on first mortgage security only. The BGC Cornerstone Fund was established as an Illinois not-for-profit corporation in 1989 and assumed the operations of the Revolving Building Trust.

Since being established, the BGC Cornerstone Fund and its predecessors have financed more than 750 church building/remodeling projects within Converge/BGC. These are buildings where the Word of God is preached, the Lord is worshiped, and lives are transformed by the Gospel.

Our assets have grown over the years but our mission has remained the same:
"To assist Converge/BGC churches by providing financial resources and services that enable them to expand their ministries, and to offer a competitive investment for the constituency of the Baptist General Conference.”

Current

The Fund’s assets growing steadily over the years have allowed us to continue to offer churches and ministries of our growing conference funding to expand their ministry. Today, the Fund is witnessing a steady increase in loan requests. This is because Converge/BGC is growing both in the number of churches associated with the conference and church attendance within our churches. We are privileged to play a part in what God is doing in and through our conference churches.

So far during 2008, the Fund has committed over $12.8 million in new loans to churches, districts, and related ministries of Converge/BGC. As of 7/7/08, we have loans outstanding to 107 Converge/BGC churches and ministries, totaling $87.9 million in funds being used to create space for people to hear the Gospel throughout our conference.

We have over 1775 individual and church investors whose investments allow us to have financing available to serve our current loan demand. We are grateful for the support of our investors!

Future

Our conference leadership is aggressively seeking and training qualified church planters to plant new congregations. As these churches grow to a point where they sense God calling them to build/purchase a facility as a “tool” for making ministry happen…the Fund wants to be there for them with competitive financing.

The Fund would not currently be able to assist all of our churches if they were to come to us for a loan today. We are continually striving to reach a point where we are able to offer this financing to all conference churches and ministries. Here is where you can help!

Consider investing in a Fund that will earn you competitive rates compared to other like term investments, while using your investment to help enhance the ministries of our conference churches. These are churches that are actively sharing Christ with a world that desperately needs Him.