MMBB’s Ministry Begins With the Endowment
MMBB’s $150 million endowment is unique among church benefit plans. It gives MMBB the ability to do Christ’s work by assisting our members and their families when emergencies occur. Since 1913, MMBB has made grants totaling nearly $240 million.
Prior to the establishment of The Retiring Pension Fund in 1920, MMBB funded all of its benefits through the endowment. At that time, the endowment stood at $12 million, an astonishing sum given the times—and the fact that this important work had been underway for less than a decade. MMBB subsequently adopted two strategies to build the endowment: prudent, long-term investing and encouraging members and others to contribute.
To meet the challenge of the Great Depression, in 1935 MMBB asked the Northern Baptist Convention to receive a special offering on one communion Sunday each year to “assist elderly ministers and their widows.” With the convention’s approval, the first “Communion Fellowship Offering” occurred in 1935. This became the Retired Ministers and Missionaries Offering in 1970.
The generosity of several individuals laid the foundation for MMBB. These include Milo C. Treat, John D. Rockefeller, Ambrose Swasey and Colonel Edward H. Haskell. By most estimates, John D. Rockefeller alone contributed more than $7 million to the cause. Many regional and state organizations established for ministers’ relief also contributed or merged funds into MMBB, culminating in 1920 with a contribution from the Layman’s Committee of the Northern Baptist Convention for close to $722,000. In addition, many smaller contributions were made by individuals across the country.
Next >
“The Lord Through the M&M Board is Caring for His Own.” The Ministry, October, 1922
He had a country field and they could not get a doctor in the night, so before the doctor arrived in the morning, he had gone. He left a Ford car, his household furniture and $14 in money, with a wife 80 years of age and none of the children either rich or drawing large salaries, so we simply must give them some aid.—“A Tragic Report,” excerpt from a letter published in The Ministry, April, 1925
If you could have seen the tears start from the eyes and come down the cheeks of my wife as I told her of your wonderful gift; if you could have heard four little children’s voices thanking God upon their knees a few minutes later for supplying their need, you would have felt well repaid —From a minister with chronic illness to The Ministry, April, 1935
Just a word of thanks to MMBB for the assurance and blessing you have been for me all these years. At present I am a resident of Atherton Baptist Homes in Alhambra, California. At my age of 90, it means so much to leave my finances to the efficient and gracious responsibility of MMBB. My retirement income is reported to the Christian Community Credit Union; regular expenses are taken care of without any worry. It is so assuring and secure to leave all my financial matters up to MMBB. Letter received 2010
In 2010 alone, MMBB provided more than $4 million in grants, subsidies and emergency assistance to members in need.
< Previous
Next >
A Heritage of Sharing
During the 1950s, MMBB developed a frequent and systematic program of what were later called “non-contractual benefits.” This financial assistance covered grants to pay medical bills, emergency home repairs, educational grants for children and many other needs.
By 2004, it became clear that—despite its size—the endowment simply could not meet the need. To sustain and grow the endowment, MMBB initiated the “Heritage of Sharing” program. This campaign asks those who have been financially blessed to contribute in order to assist others who dedicated their lives to Christ’s work. Since 2005, Heritage of Sharing has thrived as an annual appeal that truly shares in the core values of our members.
Since 2005, ABC retirees have contributed over $2 million through the annual Heritage of Sharing appeal. Gifts of any size are gratefully received. They are 100% tax-deductible and can be structured as a bequest, a gift in memory and/or name of a loved one and more. If you would like to donate, contact The Rev. Dr. Sara Day at sara@mmbb.org or 800.986.6222, ext. 8003. Even small amounts go a long way to help others in need.
< Previous