Current Assets & Numbers...

Total Active Investment Dollars : $90.3M

Total Active Investments : 1,064

Total Assets : $96.5M

Total Active Loans : 194

Total Active Loan Dollars : $69.9M

Loan Apps Received in 4th Quarter : 7

Inside this Issue...

• President's Corner
• Lender's Report
• Retirement Tribute to President Drury
• New Investment Rates!

President's Corner  

     This is my final message to the United Pentecostal Church Loan Fund investors and borrowers. In my famous words years ago I confidently stated, “I will never live back north. And I will never work at UPCI headquarters.” On April 1, 2002, I ate those words after a call from the newly elected General Superintendent, Kenneth Haney, who asked me to consider moving to St. Louis and start the Stewardship Department. After a total of 26 years at Tupelo Children’s Mansion and 3 years pastoring Apostolic Church in North Little Rock, Arkansas, we moved from the south back north to the cold and found ourselves working at UPCI headquarters. I found out, never say never!

On February 28, 2023 I will be retiring from The Stewardship Group. In the last 20 years and 11 months I have had the honor of being the first employee of what is now a 16 person—and still growing– team. Growth is evident across our department. On October 17, 2003, we launched the United Pentecostal Foundation, and as I write this we now have 104 endowments, scholarship funds, donor advised funds, charitable trusts, and Charitable Gift Annuities.

On February 4, 2010, the Foundation voted to start the United Pentecostal Church Loan Fund. On April 26, 2011, the Loan Fund was launched. At the close of our first financial year, we had two investors: a church for $20,000 and an individual for $10,000. As of today we now have 1,064 investors and we have made 272 loans totaling $120,997,192.10 loaned since the beginning. Our assets are $96.5M and we are thrilled that we leave the post with never having a loan that has been in default. 

We have also enjoyed starting United Insurance Solutions another part of The Stewardship Group. I leave feeling fulfilled and knowing it is time to turn the leadership over to Rick Lovall, a man more than qualified to not only carry on the dream, but to expand it to meet the needs of the United Pentecostal Church. Thank you each and every one who has joined in the dream to create a Stewardship ministry that is lasting for the UPCI.

I leave, not to stop, but refocus. I will continue to offer services as needed and be active in LifeSprings Ventures that is an endorsed ministry of UPCI and ImpactJunkie. Again thank you for believing in the dream of “Building Trust and Providing Solutions.”  

Being at UPCI headquarters and living back north has been indeed the crowning years in my ministry. Even though I would enjoy living in the south during the winter months! 

Stephen M. Drury, President

Lender's Report

2022 was filled with opportunities for many churches to expand their facilities or acquire new ones. The Loan Fund was able to provide 34 loans totaling $15,963,094.11 to churches from 22 states. We always enjoy hearing testimonies from churches after they experience miracles or growth in their new facilities. Pastor Wayne Gillis from New Jersey recently reported six were baptized and five received the Holy Ghost in the last 30 days of the year! He stated their church has never had that many new births in such a short period of time.

Loan demand remains high because opportunities abound. We appreciate our investors and ask that you share the good news of the Loan Fund with others. We give God the glory for all He is doing!

Rick Lovall, Vice President & Senior Loan Officer

A Tribute to the Life & Ministry of

Stephen M. Drury

Rev. Stephen M. Drury is a man who could be commended for so many achievements – from roles he fulfilled found in the traditional five-fold ministry(s) to being a pioneer of financial and business stewardship. We want to take time and give God glory for such an incredible disciple whose impact has moved the Kingdom forward. More than highlighting achievement or position, this tribute is to a man who has at his core a heart who sought the highest calling: to love God and love others.

Rev. Stephen Drury was born on February 28, 1948. No one – especially himself – could have comprehended the innumerable and remarkable ways his life would affect the Kingdom of God. Throughout his 53 years as a UPCI licensed minister, he has served God with excellence as a father, pastor, leader, and director.

He received the Holy Ghost on November 7^th, 1958, in Indiana where he attended Calvary Tabernacle pastored by Nathaniel Urshan. Following the calling of God to attend bible college, Bro Drury attended the Apostolic Bible Institute, graduating in 1969. Upon graduation, he evangelized and served as a youth pastor. The next season of life would radically change when he began his service to the Tupelo Children’s Mansion in Tupelo, Mississippi.



At the young age of 22, Bro Drury began working at TCM as an office manager and dorm father, while also supervising food services and residential care. Two years later on December 17, 1972, he married the love of his life, Evelyn (pictured above). In April of 1973 the couple left TCM to go to Oklahoma City, OK, where they assisted their pastor being offered a pastorate position in Hennepin, OK. While there, the church grew from 28 their first Sunday to running 130 in attendance two years later when the couple left to go back to work at TCM.

Bro. Drury was 28 years old when he became President of TCM in 1976. He and Evelyn served over 1,000 children over the course of 26 years (moments from TCM pictured to the right). Through Bro. Drury’s vision and leadership, they saw an abundant increase in finances, staffing, and buildings. Many new programs were established including a school and New Beginnings adoption agency which has now seen over 1,500 children adopted (many who were saved from abortion). The Drury’s also established a church on the campus of TCM which became the largest church in Northeast Mississippi at that time under his pastorate. 

After “retiring” from TCM in 1999, they pastored Apostolic Church in North Little Rock, Arkansas for three years. In 2002, former General Superintendent Kenneth Haney asked him to serve as Director of what has now become The Stewardship Group.

Since his arrival, Bro. Drury has forged ahead as a Christ-minded businessman serving at UPCI HQ. He established the United Pentecostal Foundation in 2002, LifeSprings entrepreneurial project in 2009, both the Church Loan Fund and United Insurance Solutions in 2011, and the UPCI Fellows Program in 2020.

Each of these ventures have achieved great success under his leadership. Pictured to the left are a few of Stewardship Group’s founding employees at the previous UPCI Headquarters located in Hazelwood, MO.

The United Pentecostal Foundation has raised over $8 million to fund endowments, scholarships, and other philanthropic endeavors to the benefit of UPCI ministries. Through LifeSprings, eleven businesses have been launched which have committed to donate a percentage of profits back to UPC efforts. The Church Loan Fund has grown to $96 million in assets and has provided loans in excess of $113 million to 275 UPCI churches. Moreover, the quality standards Bro. Drury established has resulted in zero defaulted loans to date. The profits generated within the Loan Fund produced its first grant in 2021 to Urshan College for $250,000. The establishment of United Insurance Solutions has allowed the UPCI to retain $4.6 million in commissions that would have been paid to external agencies otherwise.

The vision for growth continued with the launching of the UPCI Fellows Program. There have now been seven UPCI Fellows from across the U.S. who have brought their own corporate expertise to collaborate with many departments at headquarters on high priority projects to better-accomplish each department’s goal of spreading the Gospel.



Bro Drury will retire as Director of The Stewardship Group, President of the Loan Fund, and President of the Foundation on February 28, 2023, which is also his 75^th birthday.

Although he will be officially retired from the UPCI, he plans to continue serving the kingdom as a consultant for various programs. His exemplary efforts and commitment to the advancement of the Kingdom are the fulfillment of the great calling of Christ, to love God and others.

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