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Foundation Directors Suspend NBA Distributions INDIANAPOLIS, IN - The Board of Directors of the Christian Church Foundation voted unanimously to temporarily suspend distributions to the National Benevolent Association and its agencies pending further board review in April 2005. "This was a very painful decision," said the Rev. Gary Kidwell, Foundation president. "Our role is to act on behalf of our donors and to make certain their interests are honored. Given the uncertainty surrounding NBA and its future, this was the best way to assure that gifts will be used in a manner consistent with donors' intentions." The Foundation distributes for the benefit of NBA ministries about $100,000 annually from permanent funds held in trust by the Foundation. The distributions are made on the advice of donors. The Rev. Janet Long, chair of the CCF Board of Directors, said suspending distributions to NBA "is the best way for the Foundation to exercise fiduciary responsibility until NBA's future ministry is determined." Donors have contacted Foundation staff regarding NBA's bankruptcy proceedings, expressing concern about reports from the office of the Texas Attorney General that $100,000 a day is being spent by NBA on fees for consultants and lawyers. Although the Foundation distributions to NBA ministries are "miniscule when compared to these types of fees, we recognize the loving commitment to serving 'the least of these' that these gifts represent," Kidwell said. "The status of this situation will be reviewed at our April board meeting." A U.S. bankruptcy judge in late November approved the purchase of 11 NBA senior living facilities by Fortress NBA Acquisition LLC. In addition, NBA is withdrawing from the business of managing more than 70 federal Housing and Urban Development (HUD) units for five years. According to published reports, in exchange for NBA's agreement to get out of the HUD business, the U.S. attorney's office withdrew a motion that would have allowed HUD to file a pre-petition claim against NBA. The Christian Church Foundation is a general ministry of the Christian Church (Disciples of Christ), committing to helping members of the church make a difference in their favorite church-related ministries through planned gifts and permanent funds. #### Contact: |