April 24, 2000
Integrity group ceases operations, but efforts to help
victims of Arizona foundation collapse continue
___By Elizabeth Young
___Arizona Portraits
___ PHOENIX (BP)--Restoring Our Integrity, a grassroots effort seeking to repay BaptistFoundation of Arizona investors and restore Southern Baptists' integrity, has ceased operations.
___ However, other efforts to help those affected by the BFA crisis are continuing.
___ Restoring Our Integrity had a two-pronged plan. Arizona Southern Baptist churches were asked to contribute 1 percent of their undesignated receipts to cover administrative costs, and funds received from individuals nationwide were to go toward repaying BFA investors' losses.
___ BFA, which filed for bankruptcy last fall, owes about $586 million to 12,000 investors. Under a liquidation plan filed with the court, $230 million to $240 million could be returned to investors.
___ Only 66 Arizona Southern Baptist churches and missions, out of about 400, had pledged to support the Restoring Our Integrity plan, said Larry Deskins, pastor of Gateway Fellowship in Gilbert, Ariz., who was spearheading the effort.
___ While a few pastors said they didn't like the name or did not see the BFA situation as an integrity issue for Southern Baptists at large, Deskins said most had no response at all.
___ Restoring Our Integrity will return the $11,000 contributed by individuals to repay investors and the $12,000 contributed by Arizona churches for administrative costs, Deskins said.
___ The churches' lack of commitment to Restoring Our Integrity should not be construed as a lack of concern for BFA investors, said Steve Bass, Arizona Southern Baptist Convention executive director-treasurer. Arizona churches already have demonstrated their concern and will continue to do so, he said.
___ Many churches and individuals have contributed to the Jerusalem Fund, which was established by the state convention to assist those who depended on BFA investments for all or part of their monthly income.
___ More than $250,000 was contributed to the Jerusalem Fund through a statewide offering received one Sunday in February. The offering total includes $100,000 of matching funds contributed by Celebrate Jesus 2000--Caring for the Valley of the Sun, the North American Mission Board Strategic Focus Cities effort focused on Phoenix.
___ Since the Jerusalem Fund began last September, $384,918 has been contributed.
___ In March, 76 BFA clients received almost $40,000 in grants. The grants are made for one month at a time, following approval of an application to the Jerusalem Fund committee.
___ "We're proud of our congregations for what they have been doing," Bass said. "Many churches are helping their own members who have been adversely affected by the BFA crisis. They are helping both monetarily and in other ways, but most of these contributions will never be reported beyond the local congregation."
___ North Phoenix Baptist Church in Phoenix, Southside Baptist Church in Tempe and First Baptist Church of Sun City West are among many Arizona churches ministering to people hurt by the BFA collapse.
___ North Phoenix established a BFA crisis response team to provide practical assistance to church members. Team members include professionals in the areas of social services, counseling, legal and tax issues, and human resources.
___ The first session of a new grief support group designed especially for those affected by the BFA crisis drew almost 100 people.
___ Through three church-wide offerings, North Phoenix collected $107,426, which was divided between the Jerusalem Fund and the church's "Acts 4:32 Fund" that was established to help local church members.
Send this story to a friend
Contents/ Masthead / Why We're Here / Links / Archive / E-mail us/ SUBSCRIBE!