The Stewardship division of the Canadian Conference of MB Churches was started to provide mortgages to churches and pastors – “and that’s still the main purpose of Legacy,” says CFO Bertha Dyck.
“A desire to do things right rather than do things fast led us to explore various alternatives for the structure and management of the funds entrusted to us [in Legacy],” says CEO Jim Davidson.
It has been a slower than anticipated process, says Davidson, whose 24-month commitment to shepherd CCMBC’s finances into compliance with new regulations has turned into 44 months and counting. “But, if we had moved faster, we might have missed things.”
Reports on the budgets and actual of CCMBC and Legacy can be found on the Gathering website:
A detailed plan is in place to communicate the latest information to depositors, says Davidson. “We’re going to communicate so much you’ll get sick of us,” he jokes.