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 2008 BGC Cornerstone Fund Report In 2007 we saw a successful software conversion, the birth and implementation of a new ministry for the Fund and total fund growth of nearly 11%. I know the conversion was successful because we didn’t lose any staff or frustrate any customers, or at least none that I know of. We have been using the software for more than a year and have seen a vast improvement in the basic functionality and in reporting to the investors and churches. We commissioned a customized program, built on a Microsoft™ Navision platform that fits who we are. This software integrates our general ledger with our loan and certificate processing systems. We continue to tweak the system as we determine better ways to serve our constituency. In January 2007 we added Capital Campaign Services to the ministry mix of the Fund. Doug Peck has spearheaded the development and implementation of a “world class” program to assist churches in raising funds to support the ministry. He spent much of 2007 developing the model for a full-service program offered at a reduced rate without sacrificing quality. It is now in use. If your church is planning a capital funds campaign, give Doug a call. He will be happy to walk you through the process. Why do we continue to talk about growth? It’s not because growth is the goal. It’s not because Converge/BGC looks better with a larger Fund to provide funding to the ministries of Converge/BGC. It is because there is a greater need than we can handle at our current size. In other words, we talk about growth because it gives us a handle on how we’re doing in meeting the need. At the end of 2007 we had 11% more assets working to further the kingdom than a year earlier. We had 5% more investors working with us through their investments. We are seeing more people invest their retirement savings in an IRA with the Fund, which showed growth of 14% in IRA investments. We are seeing growth in all categories of investments, IRA and Non-IRA alike. This is important because we saw 21% growth in our outstanding loans and ended 2007 with $25 million in outstanding loan commitments. Our core desire to provide competitive pricing to our churches and investors is still strong. Our continued strong equity position helps us achieve this and still continue to support the ministries of Converge/BGC. In 2007 the Fund contributed $1,000,000 to help support the many Converge/BGC ministries. Paul Kruit
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