INVESTING WITH PRINCIPLE: RELIGION MAKES ITS WAY INTO INVESTMENTS

Christians today are bringing the Gospel message with them everywhere -- from the baseball field to the boardroom -- in an attempt to share that message with the world.

"We're admonished to go into the whole world and bring the values of the Gospel. And that includes the corporate world," said the Rev. Michael Crosby, a Capuchin Franciscan friar from Milwaukee.

Crosby is a stockholder with the Phillip Morris Co. and wants to have a voice in the company. He sees his role as somewhat akin to that of John the Baptist, his voice crying out in the wilderness.

And more and more Christians are joining Crosby -- looking for a voice in the wilderness of the investment world. Whether through their churches or individually, Christians are looking for a way to invest their money without having to compromise their principles.

Studies show that investment companies are listening. Between 1993 and 1998, the number of religious mutual funds increased 4.6 times, according to data from Wiesenberger financial service.

The company conducted a survey for MMA Praxis Mutual funds to show that trends in religious investing are growing.

Companies like the Interfaith Center on Corporate Responsibility help coordinate shareholder resolutions offered by religious groups that own stock in public firms.

General Electric, Wal-Mart, Merck pharmaceuticals, ExxonMobil and others were confronted with shareholder resolutions that had a religious bent this year.

"Because of the securities rules, it's easy to get a company's attention," said Diane Bratcher, a spokesman for the Interfaith Center. "They have to address a shareholder's resolution."

But winning a resolution is more difficult. Most resolutions don't even get 3 percent of the stockholders' votes.

Several years ago, 3M's board of directors agreed to an Interfaith Center proposal to limit tobacco advertising on billboards owned by a subsidiary. Phillip Morris directors agreed to support legislation that would put tobacco behind the counter where it would be less accessible to minors.

Area churches have found other ways to make investments without heading into the boardroom.

Contributions collected by area churches and sent to mainline denominations help start new churches and support mission work abroad. How much a local congregation gives to its state and national denominational organizations is determined by a local congregation.

Westminster Presbyterian Church chooses to give 16 percent of its total contributions to missions. That money is sent out first before payroll, building maintenance and other commitments.

The church does have a reserve fund, but "we aren't left holding much," said the Rev. Miles White, pastor. Throughout the church's history, it has been proud that it never let money stack up unused.

"We do have reserves primarily in CDs so we can keep it liquid," White said.

Much of the congregation's money is used for local missions both religious and non-religious. The projects supported are the Safe House for Women, a shelter for abused women in the area; the Gibson Center, a drug and alcohol rehabiliation center; the Community Counseling Center and religious groups like the FISH food pantry, campus fellowships at Southeast Missouri State University, Young Life and Teen Challenge.

When the church does send its contributions to the denominational level, it has already decided which projects to support. "We know where our money is going and have decided what to support," White said.

The church donates both financially and in-kind through gifts and labor to a hospital in Taxila, Pakistan, a women's literacy program in Guatemala and a Presbyterian college in Alaska.

Members of Second Baptist Church have a different situation. The church is torn between wanting to support programs in the community and be effective while trying to save money needed for a building project.

The Cape Girardeau church has already raised one-third of its $300,000 goal but needs more before the work can begin. The church had planned to rebuild at Jefferson and Frederick, its first location, but has since found another site.

"We don't want to go into debt before we build," said the Rev. Wiley Reed. "It's a fact that we trust by faith but we have to manage our resources very intellectually."

The Associated Press contributed to this story.

TRENDS IN SOCIALLY RESPONSIBLE INVESTING

Shareholder activism

* Companies are being urged to adopt better practices in labor relations or pay. Ways are sought to make positive changes.

Activism "is a way for people of faith to make a real difference that helps eliminate discrimination in the workplace, protects the environment or stops sweat shop practices. These are concrete ways of expressing religious convictions that make a difference in the world in which we all live," said Timothy Smith, executive director of Interfaith Center on Corporate Responsibility.

'Sin' screening

* Instead of shunning companies in tobacco, alcohol and gambling industries, religious investors are looking for opportunities to promote change.

Give back to the community

* Many churches and religious investors are using money to invest in community development projects or work that creates job in low-income areas.

"Even a small portion of someone's available resources can mean a world of difference," said Steve Schueth, president of the Social Investment Forum. "Responsible investors are concerned about giving back -- providing a 'hand-up' to those that this bull market may have passed by."

More on the Net

* Mennonite Mutual Aid: www.mmapraxis.com

* Interfaith Center on Corporate Responsibility: www.domini.com/ICCR.html