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It was an offer Village Baptist Church couldn’t refuse: $2 million to sell the Oklahoma City congregation’s McMurrain Center, or “MAC Center” for short. The church bought the property years ago for the youth and also used it for a myriad of other ministry opportunities, ranging from Hispanic missions to women’s events and conferences.
A neighboring business initially offered $1 million for the facility, which sits on prime real estate along the city’s busy May Avenue, but Village Baptist leadership refused because they knew the property was worth much more. Eager to expand, the business eventually doubled the offer to $2 million. Church leaders sought advice before approaching the congregation about a sale.
“Contacting knowledgeable Baptist business leaders who could help us make an informed decision about selling this property made a difficult decision a little easier,” explains Dr. Randy Ice, church treasurer.
But even though the price was right, the sale presented Village Baptist with a problem — what to do with the $2 million? During a church business meeting, the congregation voted to approve the sale and place the money in a permanent endowment with WatersEdge. An endowment is a financial tool designed to multiply an asset or charitable gift far beyond its original amount through investment. It creates a perpetual stream of income by annually distributing a portion of the growth of invested funds while simultaneously preserving the principal.
“It’s hard for some people to understand the importance of endowment in terms of putting money aside today so you can do other things in the future,” Ice says. “But in this case, we were replacing a permanent asset with a permanent asset, so it made a lot of sense to us.”
After months of patient work with church leadership, the city and WatersEdge, seven members of a special committee from Village Baptist came together to sign the $2 million endowment.
“It’s not just the financial security of the endowment I’m pleased with,” explains Senior Pastor Ryan Redwine. “The primary benefit is in the ministry and the motivation that the endowment will provide for our membership to do outreach in our community and other missional partnerships. These are the things that really excite me.”
SIGN HERE – Wearing a mask and gloves due to COVID-19 precautions, Gordon Henderson, Village Baptist Church co-treasurer, signs the agreement to create a $2 million endowment with WatersEdge.
WatersEdge’s biblical values, commitment to Baptist ministries and nearly 75 years of endowment expertise helped cement Village Baptist’s decision.
Each year, Village Baptist’s congregation will vote on the ministries that will be supported with the funds distributed from the endowment.
“We didn’t want to spend all the money in a year and have nothing to show for this long-term investment that we had made,” Ice says. “We’ve taken years to pay this building off and we were using it for ministry, so we wanted that money to continue to go to ministry.”
Ice added that WatersEdge’s biblical values, commitment to Baptist ministries and nearly 75 years of endowment expertise helped cement Village Baptist’s decision.
“The church specifically chose to place the endowment with WatersEdge because the money will be invested in a way that matches the values our church supports, while returning a good income stream that can be used for ministry,” he says. “Overall, this was a very popular decision among our membership. I think it was a prudent financial move that will also allow us to maintain our ministry focus, which is the whole point.”
Secure Your Church’s Financial Future
Creating an endowment inspires forward thinking about your church’s resources. To learn more, contact a WatersEdge giving expert today.
give@WatersEdgeServices.org | 800-949-9988 | WatersEdgeServices.org/endowment