wfn.org | [PCUSANEWS] Synod official named PILP chief

[PCUSA NEWS <PCUSA.NEWS@ecunet.org>]

Note #7850 from PCUSA NEWS to PRESBYNEWS:

Synod official named PILP chief
03294
July 25, 2003

Synod official named PILP chief

Jay Hudson to take reins of $40 million investment program

by Jerry L. Van Marter

LOUISVILLE - The Rev. James L. "Jay" Hudson, the Synod of Lincoln Trails'
finance-and-development chief for the past 20 years, has been named president
and CEO of the Presbyterian Investment and Loan Program (PILP).

	On Sept. 2, Hudson will succeed the Rev. Kenneth G.Y. Grant, who led
PILP to profitability from shortly after its inception in 1997 until he
resigned last year.

	Jay has the perfect background for PILP at this time in its
development," Molly Baskin, chair of the PILP search committee, told the
Presbyterian News Service on July 25. "He has a fabulous background, with a
wealth of experience and contacts in the church."

	PILP sells interest-bearing notes to Presbyterian
investors-individuals, churches, governing bodies, foundations and other
institutions-and uses the proceeds to provide low-cost mortgages to
Presbyterian churches and other entities that need to build, expand or
renovate their facilities.

	PILP's assets are nearing $40 million. Its loan portfolio exceeds $35
million.

	During his 20-plus years with the Synod of Lincoln Trails, Hudson
developed and managed a similar program that now has assets of more than
$10.5 million. He also implemented a comprehensive development strategy for
the synod's congregations and for the Korean-language Midwest Hanmi
Presbytery.

	As associate executive and co-executive, Hudson has helped establish
16 new churches in the synod in the past decade and had a hand in 20
congregational redevelopment projects. He also has trained 200 "mission
advocates" in the synod's seven presbyteries and organized a series of
mission-funding consultations that dramatically increased financial support
for mission throughout the denomination. He also manages the synod's
investment portfolio, which contributes about $200,000 a year to the synod's
mission budget.

	Hudson was chosen from a field of 125 candidates, according to
Baskin, who said PILP was assisted in the search by an Atlanta executive
search firm, Board Walk. He said four finalists were interviewed-three men
and one woman, all white.

	"The pool of candidates was as diverse as it could be, given this is
a highly specialized field and position," Baskin said. "We tried very hard to
find and recruit women and racial-ethnic candidates and just weren't very
successful. ... You can't conjure candidates out of thin air."

	Hudson, a graduate of PC(USA)-related Grove City College in
Pennsylvania, has an M.Div. from Princeton Theological Seminary and an M.B.A.
in marketing from Indiana University. His wife, Jill, is a co-executive
presbyter of Whitewater Valley Presbytery, based in Indianapolis.

*** For instructions on using this system (including how to UNJOIN this
meeting), send e-mail to mailrequests@ecunet.org

To subscribe or unsubscribe, please send an email to
pcusanews-subscribe-request@halak.pcusa.org or
pcusanews-unsubscribe-request@halak.pcusa.org

To contact the owner of the list, please send an email to
pcusanews-request@halak.pcusa.org