2025 Annual Review

ServiceS: We’re here for you

Our faith guides our decisions and leads us to socially responsible and ethically sound funds that reflect the values of our team and the ministries we work with. In partnership with Wespath, we manage endowments, long-term investments, and reserve funds on behalf of churches, camps, conferences, and agencies.

LOANS

We help churches fulfill their missions by offering low-hassle, below-market-rate term loans for capital improvements, plus bridge loans for special projects like affordable housing. Interest paid on church loans goes back into our faith community, supporting churches that have invested rainy-day funds with us.

Term loan interest: WSJ Prime - 0.5%
Bridge loan interest: WSJ Prime + 1.5%

ENDOWMENT CONSULTATION

We share and inspire stories of generosity and are committed to the lasting legacy of our clients and their congregations. We assist with endowment policies, procedures, and promotion.

STOCK GIFT PROGRAM

We accept, liquidate, and pass through gifts of stock on behalf of faith communities, making tax-wise giving accessible for all donors.

PLANNED GIVING EDUCATION

We help guide people of faith in preparing a plan to provide for the ministries they love. We teach workshops, create materials, and work one-on-one with major donors upon request.

$119M UNDER MANAGEMENT

as of 12.31.25

$30M LOANED OVER THE LAST 20 YEARS

$11.6M DEPOSITED

IN 2025

$8.8M STOCK GIFTS TRANSFERRED SINCE 2014

ESG Report

Environment

Supporting the Low-Carbon Transition

Awarded $198K in parsonage electrification rebate funding to 10 congregations.
$151K in loan funding approved for solar projects

Social

5 Staff Members at the close of 2025:

80% women
100% lay
We collect data on staff wellness and stress, which showed an upward trend after adding Ashi and Chivi to our team.

Responding to the Bishop’s M.I.L.E.

Clergy Tax Essentials & Church Financial Health Course
Made mini-grants to 5 congregations totaling 14.4K in value
Racial Equity training for board and staff
- Intercultural Development Inventory (IDI) training coming in 2026.

7 Standing Committees

Executive
Loan
Investment
Nominations
Bylaws/Policy
Grants/Scholarships
Board Development

Governance

The Foundation undertakes a full audit every year, and also reports to the Office of the Insurance Commissioner.

16 Board Members at the close of 2025:

50% women
37.5% clergy
Representation from all four states we serve

Portfolio performance

**Diversified Conservative**
1YR 3YR 5YR 10YR
**11.73% 11.29% 4.58% 7.01%**

**Diversified Moderate**
1YR 3YR 5YR 10YR
**14.20% 12.21% 4.98% 7.66%**

**Diversified Aggressive**
1YR 3YR 5YR 10YR
**16.01% 14.69% 6.43% 9.33%**

Our flagship diversified portfolios are comprised of funds that avoid investments in alcohol, tobacco, pornography, gambling, weapons, and private prisons. The advisors of these funds engage companies and policymakers through formal requests, proxy voting, and shareholder resolutions. And they invest in things that make the world a better place: affordable housing, low-carbon energy solutions, and firms owned by women and minorities. At the close of 2025, 39% of our assets under management were held in these diversified portfolios.

**Fossil Free Conservative**
1YR 3YR 5YR
**14.50% 12.97% 5.75%**

**Fossil Free Moderate**
1YR 3YR 5YR
**16.61% 15.38% 7.57%**

**Fossil Free Aggressive**
1YR 3YR 5YR
**17.31% 16.18% 8.18%**

These fossil free portfolios were constructed in 2017. They share the same ethical screens as our diversified portfolios, and go a step further by also excluding Palestinian conflict companies and companies with fossil fuel reserves used for energy purposes. We use a combination of active and passive management in the funds that comprise these portfolios, which held 48% of our assets under management at the close of 2025.

Featured

Our Stable Value Portfolio’s goal is to provide high liquidity and minimal market fluctuation for “rainy day” funds. The portfolio consists of short to intermediate-term laddered CDs, government notes, and secured loans. The loans are made to churches and agencies within our connection, and the interest paid on these loans contributes to the portfolio’s returns. Foundation staff have managed these funds for 30 years.

Stable Value

2023 2024 2025

3.45% 4.29% 4.08%

Consolidated Statements of Financial Position

As of December 31, 2025 & 2024:

*Audited 2024 financials are available upon request. Audited 2025 financials will be available after their publication in mid-2026.

Staff

Featured

Ashi Guiles

Financial Advisor

Chivi Capezio Crookes

Executive Assistant & Board Administrator

Heidi Smith

Chief Financial Officer

Julia Frisbie

Executive Director

Sara Culp

Operations Manager

A note from our executive director

When I look back on 2025, my overwhelming feeling is gratitude for the people I get to work with every day.

In 2025, we welcomed two new staff to our team: Ashi Guiles of Portland, Oregon as a full-time Financial Advisor; and Chivi Crookes of Sitka, Alaska as a part time Executive Assistant and Board Administrator. They've each made huge positive impacts already, and I'm looking forward to fruitful collaboration in years to come. Heidi, our Chief Executive Officer, stuck the landing on another perfect audit, and continued to delight us all with her llamas. Sara's role as Operations Manager has expanded to include some communication and data security responsibilities. (But don't worry, you can still reach her on the phone. We know she's the one you really want to talk to!)

On the Board side, Dr. LaVerne Lewis served as an extraordinary Board President for two years. She: facilitated our transition from a Sitting Board to an Active Board by creating and empowering committees; led the charge on updating the majority of our policies to align with current best practices; guided us through politically sensitive situations like church disaffiliations and divestment pressure; and set a high bar for Board conduct and engagement. As if all that weren't enough, she mentored me into my new role.

At the close of 2025, LaVerne passed the Board President baton to attorney Em Rigler of Portland, Oregon. Em is equal parts brilliant and curious, and she brings policy and legal expertise to the role. I could not be more excited about her leadership. LaVerne remains on the Board as our Past President, now mentoring Em.

Also at the close of 2025, Rev. Lynn Rabenstein passed the Board Treasurer baton to Barbara Dadd Shaffer. I count both of these extraordinary women among my role models. Lynn helped us rebrand, divest from fossil fuels, revise key policies, and improve our nominations process as chair of our Nominations Committee. As soon as she announced her intention to step back from the Board, we nominated her for Emeritus status, which she richly deserves, and we're grateful that she remains on our Nominations Committee in this capacity. Our incoming Treasurer, Barbara, chairs our Investment Committee and has been involved in every major initiative of the Foundation since I first joined the team in 2018. It's hard to imagine anyone more qualified for the role.

In 2025, longtime Board member Nik Halladay transitioned to Emeritus status after an astonishing 36 continuous years of board service, during which he spent two years as Treasurer, sixteen years as Vice President, and five years as President. WOW! Nik still participates in our Loan Committee in his emeritus role, and we are so grateful for him!

Throughout 2025 we welcomed my predecessor Tom Wilson back to our board meetings, this time as an Emeritus member of the Board. Tom is enjoying life as a full-time grandpa, and our staff still visits with him and his wife Denise whenever we gather in Cashmere. We love having him back on the Loan Committee, and we give thanks for his painstaking handwritten notes every time we crack open a file folder!

The Board made one other addition to its Emeritus membership in 2025 with the posthumous nomination of Darrell Lowe. Darrell served on the Board for a remarkable 26 years. His tenure with us included 12 years as Board President, during which time the Oregon-Idaho foundation and Pacific Northwest foundation merged to become the organization we are today. Our calculations suggest that he either moved or seconded the corporate resolution almost a hundred times. We love him and miss him.

In short, the Foundation is in good hands, and we stand on the shoulders of giants.