Sound Footings – Spring 2021
The end of one year and the beginning of another is always a time for reflection and turning the page. For the Foundation, that naturally requires reviewing financial statements and other analytics to assess how we are doing and what we need to do going forward. For most people, that’s pretty boring. For those of who have spent careers in financial services, it can be kind of fun, believe it or not.
I’m happy to report that your Foundation is in very sound shape. We have adequate capital, and we are all glad that the markets had largely recovered by the end of 2020. That doesn’t mean that there couldn’t be choppy water ahead, but those who stayed the course last year were glad they did. While potential fluctuation is the nature of long-term market-based investing, sound practices like asset-class diversification helped our funds recover. DevCo has a very good liquidity position, and all of its loans are performing.
It is important for the Foundation not to be too inwardly-focused. As the number of pandemic cases subsides and vaccines are administered, we are taking the opportunity to meet face-to-face with many of you, as your comfort allows. We are still available to meet on Zoom calls, of course, but we must acknowledge that the interaction is more robust when we are able to meet with you and see for ourselves what is going on in your specific areas of ministry. It is inspiring. I’m sure we all feel the same way about re-opening our churches to in-person worship. The sooner we are able to do that, the better!
Spring is a time of renewal, and we are reminded at Easter that death necessarily preceded the Resurrection. The grave could not hold Christ. So as Easter approaches, let’s remember that despite our obstacles and trepidation, we must shed fear, for the Good News that came that day will come again. Therefore, we must look to the future with hope and gratitude. We look forward to seeing you soon!
“Do not be afraid…for He is risen!” (Matthew 28:5-6)
Sincerely,
Bo Bowden, President
