Date: Sat, 08 Aug 1998 00:33:25 -0400 From: Darrell Todd Maurina Reply-To: Darrell128@aol.com Organization: Christian Renewal/United Reformed News Service MIME-Version: 1.0 To: crc-voices@calvin.edu Subject: NR 98080: IRM Investment Debacle Leads to Litigation NR #1998-080: IRM Investment Debacle Leads to Litigation; Estimate of Funds at Risk Balloons from $11.4 to $228 Million Faced with the possible collapse of IRM Corporation, a network of 130 California real estate limited partnerships in which Christian Reformed members and agencies had invested over $228 million in return for above-market interest rates, the Christian Reformed denominational leadership took stern action. Earlier estimates of fund losses focused on the investment of $11.4 million by four Christian Reformed agencies and didn't count over $200 million more held by individuals, churches, colleges, and other nonprofit institutions -- mostly though not entirely members of the Christian Reformed Church. After IRM suspended payments on October 27, 1997, the denominational board of trustees imposed a "no-comment" order on all denominational staff, exempting the Banner from the ban only after a wave of protests and overtures to synod. The ban on publication didn't succeed in cutting off the flow of information, however -- a New York City attorney began relaying leaked information from frustrated denominational officials and posting leaked internal documents on the Internet. Soon, the IRM conflict hit the front pages of the Grand Rapids Press and produced howls of protest throughout the denomination. NR #1998-080: For Immediate Release: IRM Investment Debacle Leads to Litigation; Estimate of Funds at Risk Balloons from $11.4 to $228 Million * Back to God Hour, Calvin College, CRC Home Missions, Barnabas Foundation, Christian Reformed leaders blasted for taking case to court * Dordt College, Westminster Seminary, Trinity Christian College among others hit by insolvency of California real estate corporation by Darrell Todd Maurina, Press Officer United Reformed News Service GRAND RAPIDS, MICH. (August 7, 1998) URNS -- Faced with the possible collapse of IRM Corporation, a network of 130 California real estate limited partnerships in which Christian Reformed members and agencies had invested over $228 million in return for above-market interest rates, the Christian Reformed denominational leadership took stern action. Earlier estimates of fund losses focused on the investment of $11.4 million by four Christian Reformed agencies and didn't count over $200 million more held by individuals, churches, colleges, and other nonprofit institutions -- mostly though not entirely members of the Christian Reformed Church. After IRM suspended payments on October 27, 1997, the denominational board of trustees imposed a "no-comment" order on all denominational staff, exempting the Banner from the ban only after a wave of protests and overtures to synod. The ban on publication didn't succeed in cutting off the flow of information, however -- a New York City attorney began relaying leaked information from frustrated denominational officials and posting leaked internal documents on the Internet. Soon, the IRM conflict hit the front pages of the Grand Rapids Press and produced howls of protest throughout the denomination. The denomination took a leading role in establishing a "creditors committee" to investigate the corporation's finances. The committee succeeded in negotiating and then extending a "standstill agreement" staving off legal action while seeking to study and resolve IRM's financial problems. Eventually, a West Michigan business stepped in with a private offer to purchase IRM. That didn't resolve the issue, and in June the Christian Reformed synod extended its session for an additional day to hear more from denominational staff on the IRM controversy. Now, CRC Home Missions, Calvin College, and the Back to God Hour have joined with the CRC-related Barnabas Foundation and twenty individual investors to petition the Contra Costa County Superior Court to place IRM in receivership. The result has been a split among investors, with a group calling itself "Concerned IRM Investors" sending letters promoting the proposed sale to all 1537 individual and institutional investors and holding widely publicized "town hall" meetings in Grand Rapids and California at which the denominational agencies came in for what the agencies described as "very heavy criticism." "Those present at the meetings hosted by the Concerned Investors Committee were urged to tie up the phone and fax lines to the CRC headquarters and "give them the message,'" wrote CRC executive director of ministries Dr. Peter Borgdorff in a July 27 letter to IRM investors. The six-page letter, printed on official denominational stationery, said that "a number of calls and letters have been received as a result of this urging, some of them identical in wording and content, and all of them focusing on several common themes as either assertions of fact or as questions." In his response, Borgdorff agreed that "it's true that the Creditors' Committee urged everyone to refrain from legal action in light of the standstill agreement, which bound the IRM principals to certain actions in return for forbearance from litigation." "The Creditor's Committee is on record as holding the view that contentious legal action would bring dire financial results," continued Borgdorff. "This remains the view of all thoughtful participants in the process. Our position is that the appointment of a receiver is the best way to avert contentious legal action. Competent legal and financial advisors have informed us that a receiver will bring some degree of order to the chaos we've been witnessing, take control of what remains of the IRM assets whose value has been so greatly diminished, and seek the best solution to the matter with the rights of all investors in mind." Elsewhere in Borgdorff's letter, he denied allegations that the denominational agencies had withdrawn money from IRM before the collapse "because they knew the enterprise was in trouble," that "the agencies got millions out of IRM even after the October 27, 1997 letter in which IRM announced everything was frozen," that those asking the California courts to intervene were bent on revenge, that the litigation by the denominational agencies was an attempt to get money out of IRM at the expense of other investors, and other concerns. Borgdorff's letter also responded to complaints that "what you have done is in direct contradiction with biblical passages admonishing against taking fellow believers to court." "In my view, this is a tragic misuse of Scripture," responded Borgdorff. "Of course it is true that we should not seek to use the law in an adversarial way, nor should we be quick to seek the involvement of the courts to advance our personal interests. There is, however, no biblical admonition prohibiting one from seeking the rule of law and the protection of the courts when such rule and protection are sorely needed." Eenhoorn: Christian Reformed Seceder to Bail out CRC? Ironically, although CRC officials believe that the vast majority of IRM investors are members of the Christian Reformed Church, the company offering to buy out IRM is owned by F.F. Carl Heule, a member of Dutton Independent Reformed Church in suburban Grand Rapids. Dutton seceded from the CRC in 1992; its pastor, Rev. Paul Murphy, then the president of the conservative Committee of Concerned Members of the CRC, was declared to have the status of one deposed from office by Classis Thornapple Valley because of the secession. "I originally went into this transaction just to make money, but I recognized that if that were to be the case, a lot of people who have their life savings in it would lose their money," said Paul Heule, Carl Heule's son and fellow director of Eenhoorn LLC. "We're not a charity organization, but this is being done in such a way that all the investors will get their money back over a period of time as well as people who are in dire need will be able to get cash immediately." The Eenhoorn proposal is to purchase the interests of IRM and its unsecured debt to investors, pay five cents on the dollar to investors initially, and then pay the remaining 95% of investment without interest over a period of ten to eleven years if Eenhoorn is able to make a profit off the properties. "Our concern with the Eenhoorn proposal had less to do with what was being proposed than that it was the only thing being proposed," said Borgdorff. "In our judgment, based on our best assessment of the proposal, we considered it to be low." Borgdorff said he wasn't aware of Carl Heule's church membership until recently, and noted that his son Paul Heule is a member of the CRC. "The fact that Mr. Heule, Sr., is a member of the Dutton Independent church was not known to me until this morning, and I categorically deny that had anything to do with it," said Borgdorff. "There was nothing specifically about the Eenhoorn deal that as far as we are concerned would have disqualified it; our concern was that it be considered in a competitive environment." How Did the IRM Debacle Start? The Dutch Reformed community in West Michigan is known for many things, but losing millions of dollars in failed investments isn't among them. How did over a thousand CRC members and some of its largest denominational institutions end up with hundreds of millions of dollars in a real estate corporation described by the court petition as a "fraudulent real estate investment pyramid scheme"? Founded in 1969, IRM eventually became the general partner of a network of 59 different properties in the San Francisco Bay area, mostly apartment complexes but including some commercial buildings. CRC director of finance and administration Ken Horjus told the CRC synod in June that 28 of the 59 properties have defaulted on their first mortgage. A few years after beginning, IRM hired Jay Morren, a teacher at South Christian High School in Grand Rapids, as a salesman. Morren proved a highly effective salesman, reaping large profits for both himself and the investors he solicited for the corporation, and eventually attracting the notice of the denomination which invited him to serve on various denominational boards. During his time with IRM, Morren served as a member of the Calvin College and Seminary Board of Trustees, helping oversee its restructuring when the seminary and college were divided into two institutions. Morren also served on the Christian Reformed Home Missions board and was president of the Barnabas Foundation, an organization which assists Christians in making investment and estate planning decisions. While independent of the denomination, Barnabas' clientele is largely Christian Reformed. The organization primarily works with Christian Reformed denominational agencies and the wide network of independent colleges and seminaries, parentally-controlled Christian schools, and educational, advocacy, and religious organizations supported within the Dutch Reformed community. Morren was on the Calvin College board until May 1997; IRM founder John O. Van Hofwegen was on the board earlier in the decade. Both say they never urged the denominational agencies or Barnabas to invest in IRM while serving on their boards. However, Calvin College invested $2.4 million in IRM, CRC Home Missions invested $8 million, and the Barnabas Foundation invested $12 million prior to the October 27 announcement. In recent years Barnabas and Calvin College had begun to reduce their investments from $18 million to $12 million and from $3.6 million to $2.4 million, respectively; the Back to God Hour had also reduced its investment to $1 million. However, CRC Home Missions had continued to invest in IRM up until the October suspension of payments. Whatever influence IRM officials may or may not have had on the investment decisions of the boards on which they served, IRM sales were definitely helped by the knowledge that the denomination invested its own money in IRM. Thousands of individuals, some large investors and others small, invested varying amounts. The decades-long history of consistent payments by IRM with above-market interest rates led at least some investors to invest large portions of their savings with IRM and has now caused Eenhoorn to propose that 20% of the available cash flow go toward helping "hardship cases" for whom the IRM payments provided an essential part of their income. Borgdorff and most other IRM investors say the October 27 announcement caught them by surprise since there had been no prior warning of financial trouble. The first major investor to spot problems appears to have been the Barnabas Foundation, a behind-the-scenes organization whose influence in Christian Reformed circles and beyond far exceeds its low-key public profile. "We are probably the only organization that includes as members both the Women in Ministry scholarship and Mid-America Reformed Seminary," said executive director Dave Vander Ploeg, referring to a scholarship fund for women preparing for ordination and a seminary organized largely out of opposition to women's ordination. "We don't get into ideological and theological issues; we listen to a lot of things, there are conservative people and people on the other side," said Vander Ploeg. "We are called to be stewards of financial resources and for that we are all the same." Barnabas' 168 member organizations include four seminaries and four colleges: Mid-America Reformed Seminary, Calvin Seminary, Westminster Theological Seminary in Philadelphia, Westminster Theological Seminary in California, Calvin College, Trinity Christian College, Dordt College, and Reformed Bible College. Other members include the Bible League, Bethany Christian Services, twelve senior citizen residences, and a number of mission organizations. "The CRC is the glue that really holds it all together, but a lot of the organizations like Pine Rest and Holland Home are broader than the CRC," said Vander Ploeg, who noted that his organization manages approximately $113 million in donor funds. In addition to managing funds, Barnabas provides estate planning services to individuals, manages a charitable gift annuity program, administers a donor-advised philanthropic fund, and promotes stewardship education in local congregations. Barnabas became involved with IRM as part of its money management work with charitable trusts. Vander Ploeg said Barnabas has a diversified investment portfolio including a stocks and bonds equity fund, a bond fund, a cash fund, and a real estate investment and trust fund, all of which are administered by professional money managers with guidelines that would have prevented IRM-style investments. Barnabas also had a mortgage fund which had only one recipient: the IRM Corporation. "We started investing in IRM back in 1984," said Vander Ploeg. "As it was, we never found another type of similar organization we wanted to invest in." "Our people knew the IRM people, they're part of the CRC of course, people have been out there and visited and so they had been in business for about twenty years and had a good record over that period," said Vander Ploeg. "We invested with them and continued to invest with them." Vander Ploeg said Barnabas' concerns about IRM began in 1994 after a routine review led to unexpected answers. "As the numbers were getting up there, as they were in all our funds at that point, we had maximums as for when we would diversify all of our funds in those accounts," said Vander Ploeg. "In 1994 we decided as prudent business people to go out there. We asked them for certain financial information; our investment guidelines had been discussed and we reaffirmed that they understood that our guidelines require that any project we invested in had to have 25% equity investment and that the total debt could not exceed 75% of the total project." By this time, IRM had four categories of investment funds: equity limited partnerships which owned either residential or commercial real estate; loan group limited partnerships that held a second mortgage on a piece of property; the Gamma fund, which was used for loans between projects; and the Zeta fund, which operated similarly but for which investments were primarily held by IRM "insiders." "We always confined our investments to apartment projects; we didn't want to get into commercial projects," said Vander Ploeg. "Any project could have 100 to 200 apartments, and you had more than 100 tenants so if one of the tenants moves out it's not a problem, but if you have a commercial project with only a few tenants and you have one or two tenants move out, that creates a negative cash flow real quick." Vander Ploeg said that Barnabas reviewed a group of IRM properties in 1994 and 1995 in which they had investments, then began to review another group of properties in late 1995 and early 1996. "When that was done in the spring of 1996 based on 1995 figures we became aware that some of the projects we invested in did not meet our standards," said Vander Ploeg. "In some cases they were significantly below 25%." Barnabas' review focused on use of the Gamma fund. "They represented to us the Gamma fund was used for bridge financing; they always assured us that all of these were secured by the property that they had acquired and these properties met the underlying principle of 25% equity behind the loans," said Barnabas. "The analysis we did in 1996 indicated that was not in fact the way Gamma was being used. What it was being used for was it provided additional capital to projects that had a negative cash flow." "We told them that they were feeding capital into projects that had a negative cash flow, and that in view of the fact you are using Gamma in a way quite different from how you represented to us you were doing, we told them we really wanted to exit Gamma," said Vander Ploeg. Vander Ploeg said that IRM proposed to restructure Barnabas' loan group portfolio to get investments back into compliance with Barnabas guidelines by transferring loans to projects that met the guidelines, and to repay Barnabas' Gamma loans on a quarterly basis over a period of 21 months, signing an agreement to that effect on September 19, 1996. "The written agreement was then lived with, payments were made in accordance with the terms of that agreement for a period of about a year through September 30 of 1997, then the bombshell hit in October of 1997 when we received the letter that suspended all payments," said Vander Ploeg. "From what we learned later it appears that the representations made to us both in 1994 and in 1996 were not true, that the company was probably in some difficulty at that time." Who Stands to Lose What? Vander Ploeg initially declined to specify the amount of Barnabas investments, but later reports and the legal petition in Contra Costa Superior Court indicate that Barnabas still has over $12 million in IRM, even after the efforts to restructure some IRM investments and eliminate the Gamma investments. According to Vander Ploeg, Barnabas reduced its investment in IRM by about one-third after its 1996 review. Vander Ploeg said much of the remaining investment was donor-directed and that Barnabas policy is to follow the investment preferences of donors if considered reasonably prudent. Even after the 1996 review, Barnabas still has more money invested in IRM than all CRC agencies combined. However, the disinvestment policy of Barnabas has caused the organization to be blamed in some quarters for precipitating the IRM collapse. "As far as we know we were probably the first ones to do the due diligence in 1994 and again in 1996; now we are also being blamed in some quarters for doing that," said Vander Ploeg. "People who don't really understand the financial ramifications have blamed us when we were simply acting as prudent businesspeople concerned about the investments." While Calvin College, the Back to God Hour, CRC Home Missions, and the needs of individual small investors have attracted the most attention, most of the IRM investments are held by other parties. Out of the $228 million outstanding investments, only $24 million can be attributed to denominational agencies and the Barnabas Foundation. Calls to the other Dutch Reformed colleges and seminaries which are Barnabas members revealed that one of the seminaries and all but one of the colleges have IRM investments. Some college and seminary board members indicated that their institution's IRM investments had once been significantly higher. However, by the time IRM suspended payments in October 1997, Dordt College, Trinity Christian College, and Westminster Theological Seminary in California still had IRM investments in varying amounts. Calvin Seminary, Mid-America Reformed Seminary, Westminster Theological Seminary in Philadelphia, and Reformed Bible College have no IRM investments at risk. While Calvin College is owned by the CRC and as a denominational agency has to report its investments to synod, the other colleges are affiliated with rather than owned by the CRC and are not required to report their investment dollars. Most declined to specify dollar amounts or percentages of IRM investments, but Westminster Theological Seminary in California voluntarily disclosed that their current IRM exposure is approximately $100,000. Calls to the Christian Reformed colleges which are not Barnabas members indicate that none have IRM investments. All three non-Barnabas members, Redeemer College in Ancaster, Ontario, The Kings University College in Edmonton, Alberta, and the Institute for Christian Studies in Toronto are Canadian institutions serving a predominantly Canadian constituency. Dordt College in Sioux Center, Iowa, said their IRM investments contradicted their own established investment policy. "The investment policy that Dordt has adopted and had in place for some time limits our exposure in high-risk investments in both our endowment and our quasi-endowment funds," said Dordt College media spokesman Jim DeYoung. "That would prohibit our exposure to investments like IRM." "How did our IRM investment begin? I don't really know," said DeYoung. "I believe we had some knowledge of IRM from our contacts in California, we do not do much of that investing but we did put a small amount in at some point in the past." DeYoung credited the lack of close connections to some of the denominational leadership, as well as its own investment policy, with keeping Dordt's exposure from reaching the levels of the denominational agencies. "I think one of the reasons that we were not invested in IRM is we're not as connected with the circle of folks that were involved with IRM, but even if we were in that circle I think policy would have kept those kinds of investment totals low," said DeYoung, noting that as far as he knew no IRM principals had ever served on Dordt's board. That lack of direct involvement by IRM principals is a happy accident for Dordt, not the result of specific regulations barring board membership of people who have conflicts of interest, though Dordt is reviewing its policies on the matter. "We do not have a formal policy in place regarding conflicts of interest on our board," said DeYoung. "The board does not get involved in matters of investment. There's an oversight of the budget on the part of the board but not the kind of involvement that has suggested up to this point the need for a formal policy, though perhaps one of the things that this has brought to the fore is the question of whether we need more formalized policies. That is under review currently at Dordt." The situation is different at Mid-America Reformed Seminary, which had an IRM principal on its original board when the school was established in the early 1980's and which has a number of IRM investors among the seminary's faculty and supporters. However, Mid-America itself has no investments in IRM. "We've gotten a lot of questions on that," said Mid-America development director Jeff Pols. "We questioned our board members, questioned our gift history, and also we inquired with our money manager, the company that manages our endowments, just to make sure we have investments that are ordinary." "We got some feedback from our money manager on what constitutes risky or unorthodox investment policies and so it was just a matter of an orientation on what is sound investment policy and so forth," said Pols, who noted that Mid-America's investments are largely in the student aid fund. Keith Vander Pol, vice-president for development at Westminster Theological Seminary in California, said most of his seminary's IRM investments, totaling a bit over $100,000, are ten to twelve years old and were part of trust funds donated by individuals to be used upon the donor's death. "We believed that our exposure with IRM was not undue and in the normal process of reviewing investments, we took a look at that," said Vander Pol. "One of our trustees is on the creditors committee in another capacity; I have been requested by the creditors committee that we let the creditors committee do its work." According to Vander Pol, the total IRM exposure is less than 3% of Westminster's total invested funds. Trinity Christian College in the Chicago suburb of Palos Heights, Illinois, provided fewer specifics, communicating through a prepared statement from college spokesman Ken DeWyn. The prepared statement notes that Trinity Christian College is an independent interdenominational college approved for financial support by the Christian Reformed synod and indicates confidence in the work of the creditors committee. "The amount of Trinity's investment with IRM is not financially material," wrote DeWyn. DeWyn declined to specify the total dollar amount of IRM investment by the college. What's Next? If the 24 IRM investors succeed in their court petition, Eenhoorn said the entire deal to purchase IRM will be placed in jeopardy. "I feel the way the thing is sitting today, it is impossible to do anything," said Paul Heule. "They say the lawsuit is dropped but I have no proof; for me the deal is off." "It is fair to say that it will be a disaster; it will go down the slides and the only people who will benefit will be the attorneys," said Heule. Heule said that support for the Eenhoorn deal outside the denominational agencies has been overwhelming. Documents issued by the "Concerned IRM Investors" group support Heule's statement. The July 1 announcement for the "town hall" meetings claim that individual investors representing 85% of the total funds invested are members of the group. CRC officials say that placing IRM into receivership will level the playing field by making it possible for bidders other than Eenhoorn to place bids on the IRM properties rather than allowing IRM to negotiate its own sale with Eenhoorn. What's so bad about putting IRM into receivership? "Some of the vendors have notified IRM that if this court action goes through they will not accept the trustee that the court appoints, they will want their own trustee," said Heule. "They argue that the best way to avoid legal action is to appoint a receiver. That has been proven wrong time and time again. Once you put yourself on a certain route you have no way of turning back." Heule said he had no problem with others bidding on IRM and had agreed to step aside if a better offer came along. "Of the fourteen offers, none of them were even close to economically better or superior to my offer," said Heule. "There are not a lot of options out there." Borgdorff disputed Heule's claim that there are no other viable offers on IRM. "There are in fact currently three proposals under consideration that are being studied for acceptability as bona fide offers; contrary to the assertion by some that there are no other bidders out there, this clearly disproves that," said Borgdorff. "As best we know as of this hour, these are valid bona fide offers worthy of consideration. I am personally encouraged by the nature of those offers at this point." Borgdorff said the IRM controversy had been one of the worst conflicts of his ministry. "I cannot at this moment identify anything that's been good about it, it's been exceedingly painful for many of the principals of IRM as well as the investors," said Borgdorff. "These are complex issues, we should not be surprised when different perspectives surface." "My own sense of empathy goes first to that group of investors which are severely disadvantaged by the failure of this company and were dependent upon monthly income checks to sustain even their most basic needs," said Borgdorff. "While some have tried to impugn the Christian Reformed Church as a church as somehow being responsible for this disaster, our only involvement is that some of the agencies have had cash on deposit with IRM." Heule agrees with Christian Reformed officials on at least one point: the amount of damage the controversy has done. "[CRC Director of Finance and Administration Ken] Horjus' overall perception of this transaction is there ought to be a proper playing field; he has been working on leveling the playing field since the beginning of the year, they spent a million dollars of the investors' money and they have nothing to show for it," said Heule. "Maybe they have good motives, but I don't know what they are." "It's all together a very unfortunate situation," said Heule. "If we had been left alone, by October 1 people would have gotten their first check. I thought I was in the home stretch." Cross-References to Related Articles: #1998-006: Classis Chatham asks Top Christian Reformed Administrative Committee to Appoint Independent Investigators of $11.5 Million in Questionable Investments #1998-028: Classis Lake Erie Overtures Christian Reformed Synod to "Ensure the Editorial Freedom of the Banner" #1998-067: IRM Debate Extends Synodical Session #1998-068: Synod Responds to Possible Multimillion Dollar Fund Loss Contact List: Dr. Peter Borgdorff, Executive Director of Ministries, Christian Reformed Church 2850 Kalamazoo Ave. SE, Grand Rapids, MI 49560 O: (616) 246-0832 * H: (616) 957-3288 * E-Mail: borgdorp@crcna.org Concerned IRM Investors 7123 Brooklyn SE, Grand Rapids, MI 49508 Ken DeWyn, Spokesman, Trinity Christian College 6401 West College Dr., Palos Heights, IL 60463 O: (708) 239-4799 * FAX: (708) 597-9426 * E-Mail: ken.dewyn@trnty.edu Jim De Young, Director of Alumni & Public Relations, Dordt College 498 - 4th Ave. NE, Sioux Center, IA O: (712) 722-6024 * E-Mail: jim@dordt.edu Dr. David Engelhard, General Secretary, Christian Reformed Church in North America 2850 Kalamazoo Ave. SE, Grand Rapids, MI 49560 O: (616) 246-0744 * H: (616) 243-2418 * FAX: (616) 246-0834 * E-Mail: engelhad@crcna.org Paul Heule, Partner, Eenhorn L.L.C. Office: 2610 Horizon Dr. SE, Suite C1, Grand Rapids, MI 49546 Mailing: PO Box 88335, Kentwood, MI 49512 O: (616) 530-5500 * FAX: (616) 530-0850 Ken Horjus, Director of Finance and Administration, Christian Reformed Church in North America 2850 Kalamazoo Ave. SE, Grand Rapids, MI 49560 O: (616) 224-5889 * FAX: (616) 224-5895 IRM Corporation Office: 2151 Salvio St., Suite 325, Concord CA 94520 Mailing: PO Box 3000, Concord, CA 94522-3000 O: (510) 676-1966 Jeff Pols, Development Director, Mid-America Reformed Seminary 229 Seminary Dr., Dyer, IN 46311 O: (219) 864-2400 * FAX: (219) 864-2410 * E-Mail: mars@jorsm.com Rev. John Suk, Editor, The Banner 1510 Seminole Dr. SE, Grand Rapids, MI 49506 O: (616) 246-0791 * H: (616) 243-5695 * FAX: (616) 246-0834 * E-Mail: sukj@crcna.org David Vander Ploeg, Executive Director, The Barnabas Foundation 15127 S. 73rd Ave., Suite G, Orland Park, IL 60462 O: (708) 532-3444 * FAX: (708) 532-1217 Keith Vander Pol, Vice-President for Advancement, Westminster Theological Seminary 1725 Bear Valley Parkway, Escondido, CA 92027 O: (760) 480-8474 * FAX: (760)