REDEEMING OUR

Retracing The History Of Our Endowments

You plant your future.

Leaving it to chance will only produce weeds. However, you won’t always understand it in advance; life will only be understood in reverse, so you must live it forward. Therefore, we are grateful for the many who have invested in the future of our young leaders through scholarships, gifts, and endowments. Your investments continue to live through our graduates, ministers, missionaries, and those who serve Christ in the marketplace!

Over the past 15 years, changes took place, and my goal was to redeem our scholarships and endowments and simplify how they were accounted for and distributed. It would be a decade-long journey, but as we look backward, it was worth all the effort and investments.

A Brief History

During the Rexius Event Center construction and some other needed repairs, the board at that time voted to borrow funds from the Endowments and Scholarship funds ($1.2M) to complete the building. They intended to replenish it along with interest. However, the recession of 2008-2009 was in full swing, and repayment had to be delayed.

In 2010, the board made plans to close the college and sell its assets. However, New Hope International made a significant faith investment of 3.7 million to refurbish the sagging finances, repair its buildings and recruit new students. In honor of the generosity and investment that gave our college a second breath, Eugene Bible College was renamed New Hope Christian College. This new name would also give the college a global reach, including students from the mission fields.

Looking back from 2010, as part of its 10-year plan, New Hope Christian College (formerly Eugene Bible College) began repaying the loan at $52,000 per year. Even though there were no funds in the scholarship and endowment accounts, to honor those who had formerly given money for scholarships, we began giving grants in their names using funds from undesignated giving. NHCC invested above and beyond what was required in order to plant our future

The following amounts of distributed scholarships from the past few years is as follows:

2018- $263,595 2020 - $235,671

2019 - $294,970 2021 - $382,551

Making The Endowments Whole

In 2018, we requested the services of Dr. Erika Funk, who formerly served with the University of Oregon Foundation, which manages its endowment fund. Her services were highly regarded, and she worked for over a year to reconcile the accounts and acted as an internal auditor under the purview of the Attorney General’s office. She was to classify which funds were “scholarships” (funds that were to be given in their totality) and which funds were “endowments” (larger amounts designated with donor instructions and only the interest disbursed).

Several years ago, NHCC sold some unused property and allocated the funds to make our endowments whole. This large amount made a massive stride toward redeeming our endowments. There were accounts, mostly made up of smaller scholarships, that have all been fully honored. (See list)

We are so grateful to the following true endowments who are redeeming our future!

Leon Hart Pacific Region Women’s Ministry

Hornshuh Family Veteran’s Endowment

Rose Veil Ray Wood

Bryan/Musgrove Gil and Lillian Henderson