Report of the
Board of Directors of Bible Fellowship Church
The Board of Directors of the Bible Fellowship Church met at four regular meetings and a special meeting to attend to corporate business related to the Annual Conference, agencies and the churches.
The Board provided oversight and advice in respect to fiscal, legal, and property acquisition and disposition in the following areas:
Annual Conference: medical insurance, Administrative Budget, Pinebrook Junior College property
Agencies: Church Extension, Victory Valley Camp
Churches: Emmanuel, Philadelphia; Newark, NJ; Community, Red Hill
Having been informed by Blue Cross/Blue Shield in October their rates to us for health insurance would increase 30+% January 1, 1996, the Directors began to explore other options. A Preferred Provider plan proposed by Aetna Insurance Company was selected and became the health insurance plan administered by the Board of Directors January 1, 1996. The new plan, which combines cost savings related to its HMO characteristics, and patient choice, which provides payment at a lower rate to non-participating hospitals and physicians, offers coverage which compares favorably to the previous plan and costs significantly less.
The Directors assisted the Board of Church Extension in acquisition of land for Bible Fellowship Church, Newark, NJ; the Board of Victory Valley in regard to a loan needed to build an all purpose building; and approved an amortization schedule for a loan previously granted to Community Bible Fellowship Church, Red Hill.
A request by the Board of Church Extension that a Haitian congregation interested in affiliating with the Bible Fellowship Church be granted use of the facilities formerly used by Philadelphia Emmanuel Bible Fellowship Church, led to an arrangement whereby the Board of Directors placed the management of those properties under control of the Board of Church Extension.
Though potential buyers continued to show interest in the purchase of properties formerly used to house Pinebrook Junior College, during the early months of 1995 no offers to purchase were forthcoming. Accordingly, the Directors held a special meeting in June 1995 and authorized division of the property into a main tract, a park, and a soccer field. Since late 1995, the property has been marketed accordingly, and efforts have begun to further subdivide the property. Sale of parts of the property over the coming months seems promising, but the overhead of carrying the property for over three years since the closing of the college, and the deterioration of the property through lack of maintenance over that time make it clear the Bible Fellowship Church will fall far short of realizing enough money from sale of the property to meet the debt, which has been growing at a rate of close to $100,000 each year. Though annual reports by the Directors have included detailed accounts of debt related to the property, a separate report prepared for this Annual Conference details effort to sell the property and financial obligations of the Bible Fellowship Church in regard to the property (report attached). All would profit by reading that report, but those who have become members of Annual Conference since 1991 may find that report indispensable as they seek to understand the background of our present circumstance.
Though no plan has been adopted to retire remaining debt when the property is sold, the Directors have discussed repayment of such debt over a ten year period through the Conference Administrative Budget. This would make it necessary to seek increased subscriptions to that budget by the churches.
The Directors have filed Federal Form 990 for Pinebrook Junior College for the period July 1, 1994 to June 30, 1995.
All funds are deposited in the Farmers First Bank, Lititz. Accounts were audited by David T. Allen.
We recommend the 113th Annual Conference adopt the following:
1. Resolved, that the rate of mileage reimbursement remain at $.22 per mile.
2. Resolved, that the Administrative Budget for January 1, 1996 to December 31, 1996 be adopted.
3. Resolved, that the Administrative Budget for January 1, 1997 to December 31, 1997 be approved for submission to the churches for their pledges.
Pledges to the 1997 Administrative Budget shall be received by the Financial Secretary by September 1, 1996.
4. Resolved, that the Moving Fund be discontinued beginning January 1, 1997.
Board of Directors of the Bible Fellowship Church, Jansen E. Hartman, President; Carl C. Cassel, Vice-President; David J. Watkins, Secretary; Horace A. Kauffman, Financial Secretary; Robert W. Gehret, Treasurer;