Who we are

Presbyterian Church (U.S.A.)
Investment and Loan Program, Inc.

The Presbyterian Investment and Loan Program is a Pennsylvania nonprofit corporation organized to provide a variety of church growth services for Presbyterian Church (U.S.A.) congregations, governing bodies (including sessions of congregations), and related theological and educational institutions.

PILP was created in by the 207th General Assembly (1995) of the Presbyterian Church (U.S.A.). We are a nonprofit corporation and exist solely for religious, educational, benevolent and charitable purposes. Our principal address is 100 Witherspoon Street, Louisville, Kentucky 40202.

The Investment and Loan Program, as a nonprofit, does not have any shareholders. Its sole member, which is nonvoting, is the Presbyterian Church (U.S.A.), A Corporation.

Management of the Program is conducted by a fifteen member board of directors. The day-to-day operations of the program are carried out under the supervision of the president who is the chief executive offer of the program. Although the management and operations of the program and its board of directors are independent of the church corporation, the work and mission of the program is affiliated with the Presbyterian Church (U.S.A.) and its General Assembly Council.

The program provides the following principal services to the church.

• The issuance of certificates, notes or any other financial instruments approved by its board of directors in order to raise funds for the mission of the Presbyterian Church (U.S.A.);
• The establishment of underwriting standards and loan criteria and the lending of funds, based upon those standards and criteria, to qualifying related entities to enable them to acquire or improve real property or to refinance debt previously incurred for such acquisition or improvement;
• The training and orientation of volunteers, committees, employees, and others within synods, presbyteries, and congregations who have responsibilities related to the work of the program.
• Account and report with respect to all of the foregoing; and
• Such other mission, finance, and related services as the General Assembly or the General Assembly Council may direct or approve.

Meet the Board of Directors

Meet the Program's Officers

Meet the Program's Management Team

View PILP's Web Site Privacy Policy

Church Loan Program

The Presbyterian Church (U.S.A.) has a longstanding commitment to the support of church development and the expansion of the Kingdom of God. Through its predecessor denominations, endowment funds were created for the purpose of originating church loans that supported the spread of the gospel and the movement of Christian communities.

As early as 1854, an endowment fund was being used "to help feeble churches…." This fund and others that followed, were created by donors committed to the evangelization of nation. Income earned from loans was added to gifts and the funds grew in size.

Today the Church Loan Program's funds have grown to approximately $150 million. More than 10,000 loans are outstanding, and borrowers are awaiting the repayment of principal of these loans and the interested generated on them.

The General Assembly Council's National Ministries Division oversees the Church Loan Program. It has created the Mission Development Resources Committee to help develop the Program's policies and guidelines, and oversee its work.

Meet the Mission Development Resources Committee

Coordinated Loan Services

The 211th General Assembly (1999) asked for seamless loan services for congregations and governing bodies. In July of 2000, the staffs of the Presbyterian Investment and Loan Program and the General Assembly's Church Loan Program moved together, and by December, the loan services of the two programs were streamlined into a coordinated loan service. 1

Loan funds from the Church Loan Program have been and continue to be generated by gifts. Today, the endowed loan fund brings approximately $150 million to the service of church growth. You contribution to this fund will increase that service.

When your church needs to borrow, a single General Assembly loan team is ready to handle your request — one place to call, one application to complete, and one loan review process to anticipate.

When you submit the application, the loan team may draw available funds from both the Church Loan Program's endowment funds and investor dollars provided by the Investment & Loan Program. As a result, the loan package —- total cost and servicing — is almost always the best in the market.

This is one-stop loan shopping for Presbyterian churches — so that you can focus on your church's mission.

1. The Presbyterian Church (U.S.A.) Investment and Loan Program, Inc., coordinates the loan services of the Church Loan Program for the Presbyterian Church (U.S.A.), A Corporation. Endowment funds used by the Church Loan Program are held by the Presbyterian Church (U.S.A.), A Corporation and the Presbyterian Church (U.S.A.) Foundation.

Meet the Board of Directors

Board of Directors
Presbyterian Investment & Loan Program

Frank R. Adams (Board Member) is founding partner and Vice President of Government Credit Corporation, a municipal financial advisory and consulting firm established in 1985. Mr. Adams’ background is in county and municipal government having served in senior level executive positions as Public Services Director, Intergovernmental Liaison Officer, Deputy City Manager and as interim City Manager prior to entering the public finance field in 1985. He has been associated with investment banking firms of Underwood, Neuhaus & Co., Inc., Masterson Moreland Sauer Whisman, Inc. and The Frazer Lanier Company as Municipal Securities Representative (Series 52) and Municipal Securities Principal (Series 53), as well as remaining a principal in Government Credit Corporation. Mr. Adams resigned from investment banking to pursue financial advisory services full time through Government Credit Corporation in 1996. Mr. Adams holds a BA and a MPA from the University of West Florida. He served in the U.S. Marine Corps from 1969 to 1973 on active and reserve duty, attaining the rank of Captain. He is a member of Trinity Presbyterian Church in Pensacola, Fla. and is a Ruling Elder and Clerk of Session. At the Presbytery of Florida he served on Mission Funding and is a member of Council. He has served as an alternate and as Commissioner to the General Assembly. He was elected in 2002 to the General Assembly Council and serves as the Vice Chair of the Mission Support Services Committee.

Mary C. Baskin (Board Member) is a management consultant who has over twenty-five years of experience in business analysis, banking and corporate finance. Ms. Baskin is currently Managing Director with The Ansley Consulting Group, Inc. an executive search firm. Ms. Baskin began her career with Ernst & Whinney and then was with The Coca-Cola Company in Corporate Financial Planning and as Director of Accounting for Coca-Cola Foods. Subsequently, Ms. Baskin was a director with Bank of Montreal in its Special Assets group, where she restructured in excess of $1 billion of debt for bank clients in a broad range of industries including real estate, energy and consumer products. She then became a Vice President at Harris Trust and Savings Bank, a subsidiary of Bank of Montreal, in its mid-market group. She was later a partner with Quayle Partners, a financial strategy consulting firm. Ms. Baskin is a graduate of Wellesley College and the Harvard Business School. She serves on the Board of Directors of American Capital Strategies, Ltd., a specialty finance firm. She also serves on the Board of Trustees of McCormick Theological Seminary, the Board of Directors of Casa Central which is the largest Hispanic social service agency in the Chicago area, and the Board of Directors of the Harvard Business School Club of Chicago. Ms. Baskin formerly served as an at-large member of the Board of Directors of the Church Corporation.

Frank Fisher, Jr. (Board Member) is a Former Managing Partner, for the Northwestern Mutual Financial Network, where he began his over thirty-year career.  He has a BA Degree from West Virginia University.  Mr. Fisher is a Past President of The University of Tulsa-Friends of Finance, where he continues to serve on The Executive Advisory Board of the School of Business Administration, and a Past President of The Association of Insurance & Financial Advisors, Managing Partners of the Southwest, (OKla., Texas, N.M.), in addition to past, Vice-Chairman of the Tulsa Area United Way, and served on Executive Committees of Hillcrest Medical Center, Philbrook Museum of Art, and Holland Hall School.  He is a trustee for the Presbyterian Church (USA) Foundation, with service on the Investment and Stewardship Committees.  An Elder, at the First Presbyterian Church, Tulsa, Okla., Mr. Fisher has been Trustee, Treasurer, and Stewardship Chair, as well served on the Eastern Oklahoma Presbytery Council.

Lavert W. Jones (Board Member) is a retired U. S. Army Colonel who has over thirty years of extensive logistics management, budget and programming experience. He served in the Pentagon on the Army Logistics Staff as Executive Officer in the Budget and program Directorate. Later, he was the senior Army Logistics Officer for the U. S. Army Pacific Command (located in Hawaii), responsible for a multi-million program spanning the Pacific Rim. After his military service, he was employed by the Fulton County Government, Atlanta, Georgia, as Director of Supply, Maintenance and Transportation. Mr. Jones is currently a Georgia state certified mediator. He became a Presbyterian in 1961 and has been a member of John Knox Presbyterian Church, Marietta, Georgia since 1994, where he is serving his third term as a Ruling Elder. Mr. Jones is a member of the General Assembly Council of PCUSA. He also serves on the Committee on Ministry for the Cherokee Presbytery. He graduated fro

Douglas Kenney (Board Member) is an independent Management Consultant since 1977, advises foreign and domestic banks and Wall Street investment firms; prior to this he was an executive with RCA, Citicorp and Coopers & Lybrand.  During this period, he also served Gideons International as camp president, treasurer, memorial Bible secretary, prison ministry coordinator, chaplain and church speaker - including several years as pulpit supply to the Chapel of the U.S. Merchant Marine Academy at Kings Point, N.Y.  Today, as Financial Secretary and a member of the Finance Committee of Middle Smithfield Presbyterian Church in Pennsylvania, Mr. Kenney manages investments and teaches weekly Bible studies.

Carolyn C. Knight (Board Member) is the Stated Clerk of the Presbytery of Utah.  Ms. Knight received a B.A. in Sociology and Psychology.  She is an Elder Commissioner from Utah to the Synod of the Rocky Mountains.  Ms. Knight is a member of First Presbyterian Church in Ogden, Utah.

Marcy M. Moody (Board Member) is currently Vice President of Eagle Foundation, Inc., Jacksonville, Florida. She is President of the Board of Trustees of Riverside Presbyterian Church in Jacksonville, and she is Chair of the Capital Campaign Finance Committee of The Campaign for Riverside. She is a board member and Assistant Treasurer of The National Society of the Colonial Dames of America and has previously served as a board member, President and historian of its Florida society. Previously, Ms. Moody held positions in portfolio management and investment banking, and she served as the President of a publicly-held regional real estate development company. She has served as a Trustee, Vice President and Treasurer of Riverside Presbyterian Day School and as a director, Chairman and Treasurer of the Northeast Florida Chapter of the American Red Cross. Ms. Moody is a graduate of Smith College (B.A. in Economics) and the Harvard Business School (M.B.A.).

Nancy Muth (Board Member) is the minister of The First Presbyterian Church in Germantown, located in Philadelphia, Pennsylvania. Her ministry prior to this call was in the area of funds development as she worked with Church Financial Campaign Service and later Advent Funds Development. During those twelve years she counseled congregations and governing bodies in major funding initiatives and financial stewardship development. Ms. Muth’s ministry began serving churches in Englewood, New Jersey and in Ambler, Pennsylvania. She is a graduate of Moravian College (B.A.), Princeton Theological Seminary (M.Div.) and McCormick Theological Seminary (D. Min.).

Alice Okazaki (Board Member) is a retired Quality Control and Forms Supervisor for California Casualty Insurance Company.  She attended City College of San Francisco.  Ms. Okazaki is the Synod Representative to the General Assembly Council for Synod of the Pacific.  She also served as Moderator of the Presbytery of San Francisco in 2004.  Ms. Okazaki is a member of Sturge Presbyterian Church in San Mateo, California.

James B. Rea, Jr. (Board Member) is Managing Director and Senior Investment Officer of Harris myCFO, bank and comprehensive family office.  In addition to his strong understanding of finance, investment, and loan issues and significant experience managing companies and investments, Mr. Rea is an elder at Bel Air Presbyterian Church.  He serves on a variety of church committees dealing with congregational and family life issues and administrative issues as well.  Mr. Rea has been proposed by his middle governing body, Pacific Presbytery in the Synod of Southern California and Hawaii, to serve in the presbytery slot on the Presbyterian Investment and Loan Program Board.

John H.K. Shannahan (Chair of the Board) is a retired Executive Vice President and Senior Credit Officer of Bank of America, after having worked for Bank of America for over 36 years. He also served on the Board of Directors of Bank of America Canada from 1996-2001 and of Bank of America Leasing and Capital during the same period. He is currently a director of Denali Incorporated, a privately-owned company headquartered in Houston, Texas. Mr. Shannahan received a B.S. with honors in Finance from Northwestern University. He taught a course on credit analysis at the Pacific Coast Banking School from 1985 to 1992 and has also taught courses for the American Institute of Banking in the early 1970’s. Mr. Shannahan also served in the USNR, 1963-1965.

Connia H. Watson, Jr. (Board Member) is a retired Vice President-Agency Director of North Carolina Mutual Life Insurance Company. He is a graduate of North Carolina College at Durham (now known as North Carolina Central University) and holds the Chartered Life Underwriters (CLU) designated from the American College of Life, Bryn Mawr, Pennsylvania. He is an Ordained Elder and currently serves as Chair of the Budget/Finance Committee, Covenant Presbyterian Church, Durham, NC. He is a Member and Moderator of Council – New Hope Presbytery. He served as Commissioner to the 211th Mid-Atlantic Synod and Commissioner to the 212th General Assembly for The New Hope Presbytery.

Kim I. Williams (Board Member) is the Treasurer of the Synod of the Covenant. She is an ordained minister in the Presbyterian Church (U.S.A.), an active member of Maumee Valley Presbytery, financial secretary of Resurrection Presbyterian Church in Petersburg, Michigan, and a spiritual director. Ms. Dunbar earned her Master of Divinity degree from San Francisco Theological Seminary and her Bachelor of Science degree in Accounting from Villanova University. She is a Certified Public Accountant (inactive) and worked for the Johnson & Johnson family of companies for a number of years in their international corporate internal audit, finance and marketing finance divisions.

Jim Dave Wilson (Board Member) is a retired teacher and vice-principal.  Mr. Wilson received a B.S. from Albany State University in Albany, Georgia, majoring in Education with a minor in Chemistry.  He also received an M.A. in Public School Administration from New York University in New York, New York.  Mr. Wilson is Moderator of the Newark Presbytery.  He is an Elder member and a Trustee of The Presbyterian Church of Livingston in Livingston, New Jersey.

Meet the Officers

Officers of the Presbyterian Investment & Loan Program

Martha E. Clark (Secretary) is the Associate General Counsel of the Church Corporation. She serves on the staff of the General Assembly Council. She received a B.S. degree from Western Kentucky University, an M.A.T. degree from the University of Louisville and a J.D. from the University of Louisville. From 1985 until joining the Legal Services Office of the Church Corporation in May 1996, she was an attorney with Humana, Inc.

Eric J. Graninger (Assistant Secretary) is the General Counsel of the Church Corporation. He serves on the staff of the General Assembly Council. He received his B.A. degree from Indiana University in 1982 and his J.D. degree from the Indiana University School of Law in 1985. Before joining the Legal Services Office of the Church Corporation in 1989, he clerked for federal courts in Indianapolis and Chicago.

The Rev. James L. Hudson (President) is Chief Executive Officer of the Program. He has an M.B.A. in marketing from Indiana University, and an M.Div. from Princeton Theological Seminary. During his 20-plus years with the Synod of Lincoln Trails, Hudson managed the synod’s investment portfolio, which contributed about $200,000 a year to the synod’s mission budget, trained 200 “mission advocates” in the synod’s seven presbyteries, while he organized a series of mission-funding consultations. In addition he helped establish 16 new churches, and had a hand in 20 congregational redevelopment projects.

Office phone: (800) 903-7457 x5878
Office fax: (502) 569-8868
Email

James G. Rissler (Senior Vice President of Finance & Administration Treasurer) is Chief Operating officer of the Program. Prior to joining the Program in 1999, Mr. Rissler spent seventeen years in the banking industry most recently serving as a Vice President with PNC Bank, N.A. He holds a Bachelor of Science degree in economics and business administration from Vanderbilt University. Mr. Rissler is currently a Trustee and Vice Chair on the board of Presbyterian Homes & Services of Kentucky, Inc. and was formerly a trustee on the board of the Presbyterian Homes & Services Foundation, Inc. He is an elder of Harvey Browne Memorial Presbyterian Church where he has held a variety of committee positions mostly in the budget and stewardship areas.

Office phone: (800) 903-7457 x5618
Office fax: (502) 569-8868
email

Ben Blake (Vice President of Sales and Marketing) is Vice-President of Sales and Marketing of the Program. He has over 25 years experience developing marketing and sales programs in the consumer products industry. For most of that time, Mr. Blake worked in the Coca-Cola franchise system as a Vice President of sales and marketing for a number of Coca-Cola's major markets. Mr. Blake holds a Bachelor of Science degree in Marketing from the University of Alabama. He is an elder of Harvey Browne Memorial Presbyterian Church in Louisville, Kentucky, and a commissioned lay pastor.

Office Phone: (800) 903-7457, x5865
Office Fax: (502) 569-8868
email

Meet the Management Team

Staff Members of the Presbyterian Investment & Loan Program

Betsy Blocker (Office Manager) manages the Investment and Loan Program office team. She has worked in the corporate setting for twenty-five plus years and has an investment and banking background. She has been with the program since 1996.

Office Phone: (800) 903-7457, x5868
Office Fax: (502) 569-8868
email

Debbie Cassady (Assistant for Marketing and Sales) works with the marketing staff and will be happy to provide you with a loan or investment information packet. She has been with PC(USA) since 1989. She started with the Presbyterian Publishing Corporation in accounts receivable and in 1991 transferred to Central Receiving Services. In October 2000, Debbie became part of PILP.

Office Phone: (800) 903-7457, x5860
Office Fax: (502) 569-8868
email

Judy Walton (Director of Credit Operations) analyzes credit risks for borrowers and helps churches and presbyteries reduce credit risk. She is a member of the staff loan team that approves mortgage requests. She began to work fifteen years ago in the real estate industry and prior to working with the Evangelism and Church Development Program Area was a member of the General Assembly's legal team.

Office Phone: (800) 903-7457, x5231
Office Fax: (502) 569-8868
email

Suzi Gwinn (Assistant for Investor Services) processes investment applications and payments. She is a graduate of the University of Louisville and has eighteen years of administrative and customer service experience, nine of which have been with non-profit, religious organizations.

Office Phone: (800) 903-7457, x5593
Office Fax: (502) 569-8868
email

Catherine Lynch (Development Specialist) works in the Synods of the Trinity and Mid-Atlantic. She provides development support to borrowing congregations and investors. She has worked in the funds development field for the past seven years. In addition to her experience as a fundraiser, she has also worked in the areas of public affairs, government relations and marketing communications. Catherine lives in Wilmington, Delaware, and is an active member of Westminster Presbyterian Church in Wilmington.

Office Phone: (302) 428-0433 or (866) 261-3530
Fax: (302) 427-9806
email

Eric Moore (Director of Loan Operations) serves as one of two loan underwriters who assist borrowers in meeting the requirements for credit approval and closing loans. He is responsible for loan portfolio reviews for the program. He worked in the banking industry for 17 years before joining the Presbyterian Church (U.S.A.) in 1983 as associate for finance in the Synod of the Northeast. He joined the Investment and Loan Program in 1996. He is an elder in the PC(USA) and attends the First Presbyterian Church in Jeffersonville, Indiana.

Office Phone: (800) 903-7457, x5890
Office Fax: (502) 569-8868
email

Angie Schonard (Assistant for Credit Analysis) works with borrowers to complete applications, track closings and make sure funds are disbursed on a schedule that meets the borrowers needs. Prior service includes work for Exxon developing customer service programs and with a firm providing real estate legal services.

Office Phone: (800) 903-7457, x5245
Office Fax: (502) 569-8868
email

Darla West (Assistant for Credit Operations) works with borrowers from the time the loan is approved until the disbursement of the entire loan funds.  In addition, she works with borrowers for the 60-month review of loans disbursed from the endowment funds.  She has over thirty-years experience in the real estate and mortgage lending business.

Office Phone: (800) 903-7457, x5250
Office Fax: (502) 569-8868
Email

Cecelia Siebert (Assistant for Loan Maintenance & Treasury Services) maintains the loan files including adding new accounts and all loan maintenance. She also prepares the monthly statements for borrowers and the quarterly statements for guarantors. Cecelia joined the Investment and Loan Program in February, 2006, buy has been with the Presbyterian Church (U.S.A.) since 1998.

Office Phone: (800) 903-7457, x5864
Office fax: Office Fax: (502) 569-8868
Email

Ashley Winn (Assistant for Loan Operations) works with borrowers during the closing process of loans and disbursements during construction. Ashley has worked with the Program since 1996. Previous employment included work for a CPA firm, a manufacturing company and the banking industry.  She is a graduate of Indiana University and is an equine enthusiast.

Office Phone: (800) 903-7457, x5674
Office Fax: (502) 569-8868
Email

Mickie Choi-Hoe (Development Specialist) works in the Synods of the Southwest and Southern California and Hawaii. She provides development support to borrowing congregations and investors. She has severed as the Executive Presbyter of the Hanmi Presbytery, Treasurer of the National Asian Presbyterian Council and as the Moderator of the Asian Presbyterian Council of the Synod of Southern California and Hawaii.  She was ordained in 1992 as the first woman Minister of the Word and Sacrament of the Hanmi Presbytery.  Following her ordination, until 1998, she served as a pastor for various Korean American congregations.  Mickie lives in the Los Angeles area.  She joined the PILP team in August of 2004.

Office Phone: (866) 841-6579
Fax: (909) 829-2465
Email

Meet the Mission Development Resources Committee

Members of the Mission Development Resources Committee

Ralph Aker (Clergy)
Orlando, Fla.

Flavia Alvarez (Elder)
Quebradillas, Puerto Rico

Anne D. Brown (Elder)
Garden City, Kan.

Melvin K. Khachigian (Elder)
Bakersfield, Calif.

Edwin Lupberger (Elder)
New Orleans, La.

Harold H. Shin (Clergy)
Skokie, Ill.

Charles Howell (Clergy)
Greensboro, N.C.

Ellen Marquardt (Clergy)
Kansas City, Mo.

Valerie J. Putnam (Clergy)
Sioux Falls, S.D.

Jonathon Schmick (Clergy)
Tacoma, Wash.

Jack Schutte (Clergy)
Sacramento, Calif.

Wayne A. Steele, Sr (Clergy)
Louisville, Ky.