Letter from the President
Since our founding in 1945, Everence has grown out of a long Anabaptist tradition of church communities putting faith into action by sharing resources with each other.
Seek growth
“…by speaking the truth with love, let’s grow in every way into Christ.”
– Ephesians 4:15b (CEB)
Dear Friends,
The end of 2022 saw some market volatility, rising interest rates, and national inflation rates at their highest in at least 40 years. Understandably, this triggered uncertainty for many of us. But, as we’ve experienced in numerous ways over the past few years, change can be a motivating channel for creativity and advancement. And so, we embrace this time to further understand our history, current circumstances and future trajectories – all in the pursuit of helping our members, clients and communities nurture and grow the lives we share.
Ken Hochstetler, Everence President and Chief Executive Officer
Financial strength and stability
Despite economic turbulence, Everence remains financially stable and sound, ending 2022 with $5.8 billion in assets under management. We also experienced notable growth in membership – a testament to the desire of so many to be part of something bigger than themselves, and an opportunity for Everence to help them live out their faith and values as faithful stewards of God’s resources. We are so honored to be a trusted partner on your financial stewardship journeys.
Partners in generosity
2022 was another near record-setting year for charitable giving, with members donating $159 million into Everence charitable giving accounts and distributing $76 million to nonprofits around the corner and around the world. Our MyNeighbor program contributed over $525,000 to 562 charitable organizations and churches. And, we distributed nearly $729,000 in Sharing Fund grants (matched by $1.1 million from churches) to help thousands of families meet basic needs.
Investing in community
To better serve individuals typically left out of the formal financial system, we’re re-envisioning our community economic development activities – such as our Impact Loans program pilot, which is helping individuals and families in Philadelphia build their credit scores, avoid payday lenders, and maintain their homes. We’re providing financial assistance grants to pastors from under-represented communities through the Everence Pastoral Financial Wellness Program. And we’re resourcing congregations and nonprofits interested and/or involved in local community development initiatives, through the Anabaptist Christian Development Network.
Cultivating our mutuality and interconnectedness
As an organization founded on Anabaptist principles, mutuality and our interconnectedness as children of God are embedded in our DNA – which is why advancing diversity, equity and inclusion has long been priority for Everence. We are committed to understanding the broad range of needs and experiences of those we serve and are fostering diversity of skills, abilities and backgrounds within our workforce, so that we can improve the ways we support a broad range of members and clients. And we’re holding ourselves responsible for the impact we’re making on the people and communities we serve.
Growing in God's light
Since our founding in 1945, Everence has grown out of a long Anabaptist tradition of church communities putting faith into action by sharing resources with each other. Our members and clients come from all walks of life and numerous Anabaptist and Christian faith backgrounds, responding to God’s generosity through the productive use of all we’ve been given. Whether in times of calm or in times of change, I continue to find inspiration in the many examples of possibility arising when light leads the way. It is an honor to grow together, to make the future brighter.
Sincerely,
Kenneth D. Hochstetler
President and Chief Executive Officer