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.”