Curtis D. Sharp
Executive Officer for Denominational and Public Relations
214-720-2127
Curt.Sharp@GuideStone.orgHawkins delivers upbeat report to messengers
June 24, 2009
LOUISVILLE, Ky. — GuideStone Financial Resources remains resilient in the face of volatile financial markets in 2008, GuideStone President O.S. Hawkins told messengers at the Southern Baptist Convention. Pointing to the ministry’s 2009 theme — the Year of Perspective — Hawkins told messengers that despite setbacks, GuideStone is well-positioned for its long-range, strategic plan GuideStone 100.
Hawkins pointed to success in GuideStone Funds, the organization’s proprietary family of Christian-based mutual funds, and to improvements made in the healthcare and new property and casualty coverage. Hawkins also highlighted the Mission:Dignity ministry, which was renamed in 2008.
Despite volatility in the financial sector — American stock markets fell more than 40% in 2008 — GuideStone Funds performed well relative to their peers. For the five-year period ending Dec. 31, 2008, 8 of 10 GuideStone Select Funds in the GS4 class exceeded their respective mutual fund peer universe median as measured by Lipper Ranking. Lipper Inc., a Reuters Company, is a nationally recognized organization that compares the total return performance of mutual funds with a universe of funds having similar investment objectives. Keep in mind that past performance does not guarantee future results.
GuideStone Funds also ranks in the top 30% of all fund families according to the Fi360 report produced from industry firm Fiduciary Analytics. While acknowledging the Funds faced a difficult 2008, they performed well as compared to their peer groups.
Hawkins told participants, “Markets are cyclical, and as is said on almost every page of this Bible, ‘this, too, shall pass.’”
Hawkins said that GuideStone trustees and employees could choose to give up, give in or give out, but they’ve chosen to reach up and seek wisdom from God; to reach in and find new ways to cost-effectively serve their participants; and reach out to participants to meet them at their point of need. That includes, Hawkins said, reaching out to the next two generations of pastors and helping them understand the wisdom of setting aside money for the future.
To applause in the Convention hall, Hawkins said many of those who prepare adequately for their future vocational retirement could be able to serve as missionaries and church partners without needing to draw salaries because they had set aside and prepared during their vocational ministry years. Hawkins said this is the way GuideStone can help Southern Baptists realize a Great Commission Resurgence.
GuideStone’s commitment to its participants continued in the areas of insurance as well. With new Medicare reporting guidelines implemented in 2009, GuideStone’s insurance operations area established new procedures to ensure compliance with those guidelines. Additionally, GuideStone introduced new senior plans in 2008 and introduced the Health Choice 5000 plan. GuideStone’s insurance marketing areas exceeded expectations for new enrollments and retention.
Hawkins also pointed to GuideStone’s success in controlling healthcare costs: While medical insurance premiums nationally over the last five years have increased more than 50%, GuideStone participants on average have seen their premiums decrease 13% over the same period.
GuideStone’s insurance works on a three-pronged approach. That includes GuideStone focusing on wellness in the plans, participants emphasizing wellness in their own lives and churches providing adequate insurance. Hawkins challenged churches to not expect ministers to pay for their insurance in a package approach.
Hawkins illustrated the ministry’s commitment to its participants’ health by pointing to the wellness center as part of GuideStone’s exhibit. There, GuideStone offered a free health screening to messengers. As of the Convention report, GuideStone had more than 1,000 participants. Illustrating the work needed to improve Southern Baptists’ health, Hawkins said 65% of those screened are in a moderate to high-risk category for coronary disease.
GuideStone also introduced a new property & casualty line of insurance coverage. Full details about this new product line can be found on the website.
Hawkins noted that GuideStone’s vision hasn’t wavered with the addition of new product lines and services.
“The plight of our dear widows and retired pastors… continues to be the burden of our heart,” Hawkins told messengers. GuideStone was founded as a relief ministry, and it has never wavered from that message.
GuideStone 10 years ago provided participants in the Mission:Dignity — then the Adopt an Annuitant — ministry $50 per month. Today, GuideStone is able to provide the neediest recipients with $530 each month. Those gifts come from individual and church donations. Mission:Dignity receives no Cooperative Program support.
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The Fund Family Fiduciary Rankings™ is a quarterly report on the major fund families. Fi360 leverages the technology used to determine the Fi360 Fiduciary Score™ for mutual funds and exchange-traded funds to establish a ranking for each family. Only shops with five or more funds with at least a three-year track record are considered in the report. Within each fund family, the percentage of funds that have either a “Passed” (Fi360 Fiduciary Score™ 0) or "Appropriate” (Fi360 Fiduciary Score™ 1-25) classification is calculated. This percentage is then used to rank order the families. In the instances where two or more fund families tie (share the same percentage), preference is given to the shop with the greater number of funds offered. All fund share classes are considered in the rankings.
GuideStone Funds shares are distributed by PFPC Distributors, Inc., a registered broker-dealer and underwriter of the funds, 760 Moore Road, King of Prussia, PA 19406.
Word Version: Hawkins delivers upbeat report to messengers