1934

Letters of Interest was founded by concerned business men from the Chicago area, headed by William McCartney and Jim Humphrey. They started a magazine called, Letters of Interest from the Home Field. The magazine carried reports from pioneering preachers in order to stir up prayer and financial support for them. It began carrying feature articles and biblical exposition in the early 1940s. 

1945

As World War II drew to an end, many assemblies sensed an increasing openness to the Gospel. The need to enlarge and in some cases to replace existing facilities was great. Money for such projects however was not available through regular bank mortgages, since many institutions were reluctant to lend to churches. The Board of Directors of Letters of Interest also sensed this need for growth. They determined to find a way to remove these financial roadblocks. Putting vision into action, these men formed Stewards Foundation in 1945. Stewards Foundation was chartered as a private, not-for-profit corporation “To aid financially the assemblies of Christians gathered to the name of our Lord Jesus Christ to enable the construction and rehabilitation of assembly chapels, schools, hospitals and old people's homes and the furnishing of same.”

The money for such financing came from the sale of bonds to Christians in fellowship in the Assemblies on the Unites States and Canada.

1953

In 1953 Stewards Foundation entered the medical field. Belmont Community Hospital in Chicago was purchased. “We envisioned Belmont,” wrote Donald Taylor, second President of Stewards Foundation, “as an asset in promoting the Gospel of our Lord Jesus Christ.” Within the scope of its services the Belmont facility provided free health care to missionaries and home workers.

Over the next several years Bethesda hospital in Illinois and the Auburn, Riverton and Centralia hospitals in Washington were purchased. Riverton and Centralia were part of Stewards Foundation. Belmont, Bethesda and Auburn were established as separate, not-for-profit entities.

When the hospitals were bought, no gifts were solicited from the Assemblies or the general public. No monies were given by the Assemblies. Not one of the hospitals was purchased or managed by the Assemblies. Each hospital carried its own debt obligation, borrowed from Stewards Foundation and other financial institutions, which was paid back from hospital operations. The liabilities for each corporation rested with its board of directors.

1982-1985

The shifting health care environment in the early 1980s raised serious questions about the viability of continued involvement in the health care field. After many months of deep prayer and extensive discussion the hospitals were sold in 1982.

The total funds from the sale of Riverton and Centralia remained in Stewards Foundation.

The funds from the sale of the three private, not-for-profit hospitals, Belmont, Bethesda and Auburn, were placed into the Bethesda Hospital Corporation, which had been established in 1957. In 1982 the name of the corporation was changed to Bethesda Ministries. In 1985 it was changed again to Stewards Ministries.

The proceeds from the sale of these three hospitals funds our giving.

1994

International Teams, a missions organization associated with the Assemblies, became the Chaplin endorser for the brethren. When IT shut down in 1994, Stewards Ministries assumed that responsibility.

2000-2010

Stewards Ministries partners with Emmaus Bible College to fund Emmaus Ministry Resources. The goal was to leverage the human talent of the college to strengthen Assemblies. The Iron Sharpens Iron Conference, and Emmaus Online are just two of the projects that grew out of that effort. Both continue to this day.

Since our endowment was established in 1982, Stewards Ministries has made grants totaling over $32,000,000 to churches, ministries, mission, and educational efforts around the world.