SfK Ministries

SfK Ministries

Wednesday, February 10, 2016

Ministry Update - January 2016

We at SfK Ministries had a wonderful and grateful start in January 2016. Here are some highlights:

1. In less than a month, we received approval from the IRS on our application for a 501(c)(3) tax exemption status. Halleluja! One of new foundations told me that it has taken them 8-9 months. We submitted the application on December 23rd and we received the approval on January 12th. I trust that the good and faithful Lord was working behind the scene.

2. Because of this expedited approval from the IRS, we also received a pledge from Salesforce.com for non-profit a total of 10 user licenses for free! This company's database application is being used at more than 30,000 non-profit organizations. This should be worth tens of thousands of dollars. We are deeply grateful for God's grace.

3. We have two brothers who are long experienced in database management and are working diligently to explore and learn about the features of Salesforce.com database application. We will use this platform to develop databases for missional businesses and Kingdom Fellows. Also, it will help us manage the database for donors.

4. We launched the first Newsletter in January and the second Newsletter will soon be released.

5. Jeffrey Lee had an opportunity to talk about BAM and to make an introduction to SfK Ministries in Chiang Mai, Thailand, along with several BAM practitioners and BAM Academy faculty members. (January 26 and 27) It was encouraging to see many people respond favorably and passionately. Several people wanted to join SfK as missional business or Kingdom Fellow.

6. Jeffrey Lee spent a week in Bangkok, meeting with several current or existing BAM practitioners. Based on observation that many of them are in need of basic training on business management skills, he agreed to hold a 100-hour training course during a 6-week (March-May) time period in Bangkok. May this be a foundation to developing a training curriculum.

Main actors for the Chiang Mai Summit Forum
Jeffrey giving a presentation about BAM and SfK Ministries

After CEO Forum on BAM in Chiang Mai

7. SfK Ministries has developed its website that has been launched now. This website will be an important gateway for missional businesses and Kingdom Fellows to meet up and also for other supporters to make contribution. It is linked to this blog, Facebook, YouTube and Twitter. It is also linked to PayPal for donation.

8. Jeffrey Lee helped Nanuri, Ltd. in Rwanda develop its five-year Project Plan to be submitted to Rwanda Development Board for the investment certificate that will allow for some incentives. Nanuri, Ltd received a green light on its application for Environmental Impact Assessment. Now they should secure a construction permit to begin the project construction.

9.  Peter Hyunguk Lee, a business missionary to Thailand, signed up to be affiliated with SfK Ministries. Currently he runs a business incubation center with a few partners and also runs a couple of missional businesses to support other missional businesses, based in Bangkok. As Director of SfK Thailand, he will play a pivotal role in SfK Ministries' endeavor to establishing its presence in Thailand and further to other Asian nations. Welcome on board, Peter! Also, Caleb Ji, based in Chiang Mai, will collaborate in SfK Thailand's outreach in northern Thailand and neighboring countries. Welcome aboard, Caleb!
Peter Lee (left) and Caleb Ji (right)
10. We had an important discussion about how to establish SfK Korea with a few stakeholders. Noteworthy was one of the prominent pastors in Korea, who has been pioneering into social enterprises, particularly assisting North Koreans who escaped from North Korea to settle and establish self-sufficiency through job creation and mentoring. He agreed to chair the board for an entity that will govern and manage a fund to be established for impact investors. It is a great blessing to have him on board with SfK Ministries!

Prayer Requests:

1. We plan to hold an official launch for SfK Life Corporation in May of 2016 in Los Angeles through a dedication service. Please pray that this event will be a blessing to all who will participate.

2. We need to firm up our plan to establish our operational presence in Thailand and Rwanda. Please pray that this process will go smoothly.

3. We need to establish a concrete plan to establish SfK Korea and please pray that we may draw God's divine wisdom and strength in inviting godly people to the board and also to the management team.

I pray that you all will be blessed abundantly by our God Almighty so that you may become a greater blessing to many who are in need around you and the globe.

Tuesday, February 9, 2016

Officially Approved as a 501(c)(3) Organization by the IRS

Praise the Lord!

I have seen and heard about many miraculous stories in the bible and real life, but if there is anyone who does not believe in them, this is surely one.

SfK Life Corporation, the US operation for SfK Ministries held its board meeting on December 11, 2015, approving the amendment to its Articles of Incorporation and adopting some policies.

On December 23, 2015, in the midst of busy time before Christmas, we managed to submit our application to the IRS for the tax exempt status.

On January 12, 2016, the IRS issued its approval letter without any condition attached to our application.

The IRS approval the tax exempt status application only in three weeks? Particularly around the Christmas and New Year time? No way!

I heard that one of the foundations submitted the same application in April 2015 and received approval in December. That was eight months!

I could not believe it! But that is how God works and demonstrates His power. We firmly believe that the Lord's invisible hands were working behind the scene. Thanks be to Him!

There are many benefits associated with this tax exempt status, such as tax deduction for any donation made to SfK Life Corporation. But, one of the immediate benefits we rejoiced greatly for was free 10 user licenses to use Salesforce.com database solutions.

Salesforce.com is a leading company to CRM (customer relationship management) solutions and approximately 30,000 non-profit organizations are using this application on top of numerous corporate users. This application will be a driving engine for all database management work that SfK Ministries will develop and use.

The timely approval of our application for the tax exempt status by the IRS has saved us time and resources in developing an interim database until we could use Salesforce.com solution after the IRS approval.

We honor and praise the good Lord for His abundant and overflowing grace that is never ending.

Praise the Lord forever and ever!