Curtis D. Sharp
Executive Officer for Denominational and Public Relations
214-720-2127
Curt.Sharp@GuideStone.org

Hawkins declares gratitude for successes and challenges

November 5, 2008

DALLAS — GuideStone Financial Resources President O. S. Hawkins updated trustees on the successes of the first three quarters of 2008 including the implementation of greater participant resources through MyGuideStone and the launch of the new Property and Casualty Program. Hawkins also reported on the challenges brought about by the recent financial markets volatility.

Speaking from Deuteronomy 11:11–12 which says, But the land which you cross over to possess is a land of hills and valleys, which drinks water from the rain of heaven, a land for which the LORD your God cares; the eyes of the LORD your God are always on it, from the beginning of the year to the very end of the year, Hawkins reminded trustees that as we have walked through the valleys during the recent volatility of the financial markets, we have been through these experiences before.

“Through the last 90 years GuideStone has had many mountain-top experiences,” Hawkins said. “We also have experienced many valleys such as the Great Depression, world wars, terrorist attacks and multiple recessions.

“It is during the valleys that we learn the real lessons of life. Ups and downs in the financial markets are a reality. Whether we are in an up cycle or a down cycle, we must remember that God is our resource. His eyes are always on us.”

Trustees heard an update on GuideStone’s operations from Chief Operating Officer John R. Jones, received reports for GuideStone’s launch of its Property and Casualty Insurance Program and for GuideStone’s plans to offer financial advice. In other action, trustees also approved the 2009 operating budget for GuideStone. Trustees met in regular session Nov. 3–4.

Jones reviewed the primary business drivers that direct GuideStone’s work.

“In each area of our operations we are aggressively managing costs as we seek to hold down expenses in these difficult times,” he said. “In the midst of this financial crisis, we are committed to providing superior customer service, which is our number one business driver.”

Trustees also received a report concerning GuideStone’s launch of its new Property and Casualty Program. Douglas D. Day, executive officer for Insurance Solutions and Services who is giving leadership to this initiative, reported that the products will gradually roll out regionally over the next year.

“The initial roll-out of this program will be focused in Texas, Tennessee and North Carolina,” Day said. “However, churches and ministries in other states may request information through our Web site.”

Day also reported that the new Property and Casualty Program had received its first client, First Baptist Church in Duncanville, Texas.

“This program is designed specifically to meet the needs of Southern Baptist churches and ministries,” he said. “And we’re pleased that we can bring them not only affordable insurance coverage but comprehensive educational materials and risk management tools. 

“GuideStone’s Property and Casualty Program will facilitate reclaiming dollars for ministry as we help churches obtain appropriate property and casualty coverage while we also provide educational and risk management programs.”

Patty A. Weiland, executive officer for Financial Solutions and Services, provided trustees an update on GuideStone’s plans to offer financial advice.

“This new service will help us to answer the most often asked questions that come from participants: ‘How should my retirement account be invested? Am I on track to meet my financial goals?’” Weiland said.

Financial advice will consist of fund-specific investment advice related to GuideStone’s proprietary investment funds that are available to participants in GuideStone’s retirement plans. In addition to the investment fund advice, a retirement income gap analysis also will be available to assist participants in knowing how much more they may need to save in order to reach their retirement income goal. Project teams are working diligently to put all of the elements in place for a launch of the new service during 2009.

Gregory A. Bibb (KY), chairman of the trustees’ budget subcommittee, reviewed the operating budget proposed for 2009 and it was unanimously adopted by trustees.

“The trustee budget subcommittee and the staff have carefully prepared a budget that undergirds our ministries and aggressively manages costs during this time of market volatility,” Bibb said. “The proposed budget is 4.1% lower than the 2008 budget.”

GuideStone receives no Cooperative Program funds for operations from the Southern Baptist Convention, but pays all expenses from an advisory fee on its investment funds offered through GuideStone Funds.

The trustees’ relief committee approved applications adding 29 individuals to the financial assistance roll. Thirteen individuals were approved for grants.

Other action by the relief committee included approving a $200 Christmas check for each financial assistance recipient on the roll Nov. 1, 2008. Funds to provide the special Christmas check are made possible through GuideStone’s endowment program.

Individuals and churches are invited to participate in the Mission:Dignity program. For more details on the Mission:Dignity ministry, call toll-free at 1-888-98-GUIDE (1-888-984-8433), visit the Web site or send an e-mail message to Mission:Dignity.

In closing remarks, Hawkins reminded trustees, “Every decision we make as trustees and staff must be considered in terms of our vision statement which says, ‘We exist to honor the Lord by being a lifelong partner with our participants in enhancing their financial security.’”

Word Version - Hawkins declares gratitude for successes and challenges