The Mississippi Baptist Foundation offers cash management services to Mississippi Baptist Churches and institutions. To that end, the Foundation offers the options summarized below.

 

Established in the late 1990s, the MBF Short-Term Fund was the first offering by the Mississippi Baptist Foundation to assist churches with their cash management needs. Administered through the Southern Baptist Foundation (SBF) in Nashville, TN, the MBF Short-Term Fund is a pooled/commingled fund, with underlying investments in Certificates of Deposit of U.S. banks (75%), U.S. Treasury securities (12.5%) and high-quality bonds issued by U.S. corporations (12.5%). The interest rate is set monthly and is subject to the fluctuations of short-term interest rates. Interest is posted to each account as of the last business day of the month.

 

For Mississippi Baptist churches and institutions that have specific maturity dates for their funds, the MBF can purchase and manage national market Certificates of Deposit (CDs) offered by various U.S. banks. These CDs are purchased through Morgan Stanley. Each CD is covered by FDIC insurance.