In 1989, a group of lay leaders from the Stone Mountain Baptist Association of Churches formed a separate 501(c)(3) foundation to assist in planting new churches. The foundation was charged with the primary task of raising and managing endowment funds to purchase new church sites and provide construction financing for first unit construction for new Southern Baptist churches. The daily management of these endowed resources is provided through a partnership agreement with the Georgia Baptist Foundation.
A Board of Trustees representing the churches of the Stone Mountain Baptist Association makes decisions for the Foundation. The Foundation makes grants to churches seeking to start a new church based on investment earnings of their two funds:
- Founders Fund: The Foundation may make a matching grant of up to $25,000 for the purchase of property on which the Mission Church will build its first unit. As an alternative, the mission congregation may purchase an existing facility.
- Century 2000 Fund: The Foundation may make a matching grant to an existing church of up to $25,000 to assist in starting a new church.
- Memorial Fund: The Foundation accepts donations in honor or in memory friends and loved ones. These donations may be endowed or non-endowed. Memorial Fund gifts are used as directed by the donor or at the discretion of the Foundation. Income generated by this fund is used for grants in the same manner as the Founders and Century 2000 Funds.