Bethel Investor

Matured Trusts Help Build Labs

New labs to open in February.

Winter 2010

Matured Trusts

With more nursing majors, a growing interest in sports medicine and health sciences, and robust pre-med and biology tracks, Bethel has outgrown its biology labs. Construction to increase lab space is nearly complete, and occupancy is scheduled for late February. This $1,690,000 expansion was funded partially by the proceeds from two trusts managed by the Bethel Foundation.

One trust was established in 1972 by Oscar Berglund, who was a lay leader of Bethlehem Baptist Church in Minneapolis. The other was established in 1978 by Lillian Hanson, a longtime member of Elim Baptist Church in Chicago. Both Berglund and Hanson wanted to provide an eventual benefit to Bethel, while carefully attending to their needs at the time. Until Berglund and Hanson died—1978 and 1989, respectively—they each received monthly checks, while the Bethel Foundation effectively fulfilled their requirements and expectations, investing their funds wisely. Then, in 2009, with the recommendation of President Jay Barnes, Bethel’s Board of trustees authorized the release of a substantial portion of these invested assets, making possible the significant program improvement.