Report of the

Board of Directors of the

Bible Fellowship Church

              The Board of Directors of the Bible Fellowship Church met at two regular meetings to attend to the corporate business related to Annual Conference Agencies and Churches.

              The Board provided oversight and advice in areas of fiscal, legal, property acquisition and disposition in the following areas:

Annual Conference: Blue Cross/Blue Shield Medical Plan, Administrative Budget and Board of Pensions.

Agencies: Church Extension, Bible Fellowship Church Homes, Inc., Pinebrook Junior College Property.

Churches: Bayshore, NJ; Emmanuel, Philadelphia; Thompson, CT.

              The Directors assisted the Board of Church Extension in acquisition of a parsonage for Bible Fellowship Church, Bayshore, NJ and a loan for Thompson, CT, Church.

              The Emmanuel Bible Fellowship Church, Philadelphia, had become incapable of electing Elders and decided that they were unable to continue to function as a Church, October 30, 1994. They requested the Board of Directors to assume responsibility for the properties according to the Miscellaneous Bylaws, #1, para.2.

              The sale of Pinebrook Junior College continues to be an urgent matter of prayer. The Board met with a member of the Southern Lehigh Community Housing and Development Corporation at its February meeting. They have discontinued negotiations on an Agreement of Sale because of inability to secure financial backing.

              All funds are deposited in the Farmers First Bank, Lititz. Accounts were audited by David T. Allen.

              We recommend that the 112th Annual Conference adopt the following:

              1.           That the rate of mileage reimbursement remain at $.22 per mile.

              2.           That the Administrative Budget for January 1, 1995 to December 31, 1995 be adopted.

              3.           WHEREAS, the “Present Value of Church Property” as stated in the Statistical Report has no standard of calculation and no beneficial purpose; and

WHEREAS, the presentation of such values may provide a misleading impression of the worth of the Bible Fellowship Church; therefore be it

RESOLVED, that Annual Conference instruct the Statistical Committee to delete from its report “Present Value of Church Property.”

              4.           That the following revisions be made in the Faith & Order: (Second Reading)

See 1994 Yearbook, pages 35-36.

Board of Directors of the Bible Fellowship Church: Jansen E. Hartman, President; Carl C. Cassel, Vice-President; Harvey J. Fritz, Jr., Secretary; Horace A. Kauffman, Financial Secretary; Robert W. Gehret, Treasurer; James A. Beil, Hospitalization Secretary; Bert N. Brosius, Jay H. Fasnacht, L. James Roberts.

Addendum to the

Board of Directors Report

Pinebrook Junior College

                  The program of Pinebrook Junior College closed in 1992, and closure of all matters has taken place except the sale of property used by the College. All student records are available at Office of the Registrar, Nyack College, Nyack, NY 10960.

                  The 111th Annual Conference established the Board of Higher Education; this Board has supervision of Endowment and Loan Funds formerly held by Pinebrook Junior College.

                  Because the remaining matters relate only to real estate title to which is held by Bible Fellowship Church, the other funds held by the College have been turned over effective June 30, 1994, to the Board of Directors of Bible Fellowship Church. A statement of accounts as of that date is included with this report.

                  The college property has been on the market since February, 1992, with Lee E. Boyles of William A. Emmerick, Lansdale, serving as realtor. As of April 18, there have been 123 inquiries, who received information, and showings to 51 different potential purchasers.

                  Meridian Bank and Quakertown National Bank have allowed payment of interest only on mortgage loans until the end of 1994; at that time some payment on principle was initiated again. There is question about how much longer the banks will be willing for these arrangements. Pray that our Lord will direct and provide in the disposition of the property.

Board of Pinebrook Junior College: Raymond R. Dotts, Chairman; Thomas P. Shorb, Secretary; Jay H. Fasnacht, Treasurer; Carl C. Cassel, President; Kenneth F. Barber, Dennis M. Cahill, G. Wayne Clapier, Carol A. Gearhart, John H. Herb, Rodney A. Muthard, Robert C. Newman, Ronald W. Reed, L. James Roberts, Jr., C. Robert Roth, Russel M. Ruch, Karen R. Stull, Robert H. Zentz