THOMASVILLE, N.C. — The President and CEO of Baptist Children's Homes of North Carolina has resigned from his post after the organization found he was misusing funds.
The BCH Board of Trustees held a meeting on September 13 to discuss a report on a financial review.
Based on the findings of the review, the board and BCH president/CEO Michael C. Blackwell finalized an agreement Tuesday for Blackwell to retire effective immediately.
Blackwell has served as the President since July 1, 1983.
Both parties have agreed that moving in the direction of new leadership is in the best interest of the organization and its mission of "sharing hope... changing lives." The independent review involved a forensic accountant's assessment of specific organizational expenditures by Blackwell.
The findings substantiated multiple instances of misuse directly conflicting with both BCH policies and Blackwell's fiduciary duties, the organization says.
Blackwell has agreed to reimburse BCH in full for the funds that were identified. Additionally, he will pay the appropriate amount of applicable taxes.
His final compensation will only consist of that which is required by law, and BCH policy regarding accrued vacation and sick time, the organization says.
"While the outcome of this review was disappointing, the action taken by the trustees clearly prioritizes that the integrity of the BCH mission and, most importantly, our commitment to the children and families we serve comes first," Gayla Freeman, Chairman of the BCH Executive Committee, said in a statement. "It is our hope that this is the first step in rebuilding trust with our supporters, partners, and NC Baptists who have faithfully stood with us to minister to the needs of the most vulnerable while showing them God's unconditional love."
Freeman also stated that the board is in the process of developing a plan for updating and strengthening governing structures. The goal is to establish the degree of oversight that is essential for an organization of BCH's size and scope.
A search committee will be created in the coming weeks to identify a new executive leader for the almost 138-year-old ministry.
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