MAINEVILLE, Ohio, August 29, 2011 /
Christian Newswire/ -- It is with great sadness that we at the Beracha Foundation have learned of Evangelical Baptist Mission's decision to file bankruptcy. Our prayers go out to all the missionaries, their families, supporters and churches who are impacted by this decision.
As the situation continues to unfold, we would like to clarify some statements which have been made regarding the relationship between the Beracha Foundation and EBM, particularly concerning lawsuits filed against Beracha by EBM leadership.
To understand the recent news, one must understand that the current issues leading to the bankruptcy of EBM started long before its relationship with Beracha. Unfortunately the lawsuit brought by EBM leadership against Beracha--and the demand of Federal Law that Beracha defend itself through a countersuit--has clouded the real issues.
After many months of compelling testimony and evidence showing that EBM leadership was wrong to have damaged Beracha's reputation by filing suit, EBM leadership dropped their suit and asked to open a discourse toward mediation. The EBM Board even issued a signed apology addressing this matter. In later meetings it was admitted by board members that EBM's problems started as early as 2001. Remorse was expressed by the Chairman of the Board for having purchased a large facility without the financial means to adequately provide for EBM's future. Statements of regret for not holding its President and Treasurer accountable for their actions were also expressed.
Beracha was EBM's largest donor. This was possible because our subsidies to them exceeded $4.32 for every $1.00 they paid for IT services. Additionally, we brought them many tens of thousands of dollars of donations from corporate sponsors we sought on their behalf. Any accusations that Beracha is the cause of EBM's financial problems and current state could not be further from the truth.
Where are we now? Like you, we are watching and waiting to see how this scenario plays out. We can only ask that fervent prayer be lifted up for the missionaries who are affected by this and that their vital ministries throughout the world will be able to continue unimpeded. We hope and pray for an outcome that brings honor and glory to our Savior's name.
The Beracha Foundation of Ohio exists to emancipate, enable, empower and educate the non-profit ministries, organizations and foundations of the world through our expertise, our resources and our experience.
