Stewardship buys church-plant charity

15 November 2019

ISTOCK

TWO charities — Kingdom Bank and Stewardship — which have shared roots in Free Church church-planting are set to merge, it was announced last week.

The purchase of Kingdom Bank by Stewardship was made possible by the investment of a “committed group of Evangelical Christian philanthropists”, Stewardship’s chair of trustees, Simon Blake, said.

Stewardship received £130 million in gifts and donations in 2018-19, up from £78 million on the previous year. Founded in 1906 to serve as a trustee of church properties for the Brethren movement, today it works with more than 30,000 Christians who, through its tools, give more than £80 million each year to a range of Christian charities.

Among the services that it offers are: a giving account, enabling people to donate to one of 19,000 charities on its database; a free online fund-raising website; a comprehensive payroll service; and mortgages.

Kingdom Bank, owned by the Assemblies of God Property Trust, is a Christian bank, established in the 1950s to enable Pentecostal Churches to purchase premises. Today, it works across denominations, and finances more than £40-million’s worth of projects that support growing churches.

On Tuesday, the CEO of Stewardship, Stewart McCulloch, said that it was increasingly helping high-net-worth donors in their giving — a trend that had emerged in the United States. “You need the right advice and right structures to make larger gifts: it’s a lot harder than people think to give away money,” he said.

The partnership is subject to approval by the financial regulators, the Prudential Regulation Authority and the Financial Conduct Authority.

Forthcoming Events

26 March 2020
Theology Slam Live Final
Hear three of the UK’s best up-and-coming young theologians as they reflect on the most pressing issues of our time.  Book tickets

Job of the Week

Organists and Layworkers

Clerical

Welcome to the Church Times

​To explore the Church Times website fully, please sign in or subscribe.

Non-subscribers can read four articles for free each month. (You will need to register.)