The Louisiana Baptist Foundations auditors recently gave the financial
records of the ministry a “clean bill of health” for 2003.
The Louisiana Baptist Foundations auditors recently gave the financial
records of the ministry a “clean bill of health” for 2003.
“The audit was positive with no problems,” foundation Executive Director
Wayne Taylor reported to agency trustees during their recent meeting. “This
shows the outstanding job the foundation has done with impeccable record keeping.”
The total assets for the foundation at the close of 2003 were $96,825,953.
During the meeting, Taylor said that:
The foundation recently celebrated its 60th anniversary. Taylor mentioned
there are some services he has discussed with the board and others “for
a while” that would enhance the entitys services as it begins a new
decade of service. He said he would like to create two positions but may have
to do so without additional funding from the Louisiana Baptist Convention.
“One position is (for) senior adult services to help with the individuals
that we have some responsibility for,” Taylor explained. “They are
leaving money to Baptist work, and they dont have any or much family help
in the later stages of their life. The second position is a lawyer for many
legal services we already pay for and having this person dedicated to Baptist
work.”
There has been some interest to market the Short Term Fund to other
states. “Our Short Term Fund is not just for endowments and trusts,”
Taylor said. “It is used by many churches and institutions for operational
cash management.
He said other states are interested in offering this service to their respective
churches and institutions.
“What makes our management unique is our software that makes handling
the daily transactions easier at a low cost,” Taylor added. “We are
at the beginnings of other states looking at and trying our Short Term Fund
to see how and if they can use it in their state.”
Ohio, Florida and California have an account with the foundation. Taylor also
has visited with the Oklahoma and Northwest foundations, who have expressed
an interest in a Short Term Fund as well.