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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES13d- 1(b), (c)
AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)
Amendment No.1*
New Century Financial Corporation
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(Name of Issuer)
COMMON STOCK
-----------------------------------
(Title of Class of Securities)
64352 D 10 1
---------------------------
(CUSIP Number)
December 28, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[_] Rule 13d-1(c)
[X] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
Page 1 of 10
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CUSIP NO. 64352 D 101 13G Page 2 of
10 Pages
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
THE BAPTIST FOUNDATION OF ARIZONA
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
ARIZONA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 2,361,569
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6 -0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 2,361,569
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 -0-
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 2,361,569
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 16.2%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 OO
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Page 2 of 10
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CUSIP NO. 64352 D 10 1 13G Page 3 of
10 Pages
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FOUNDATION ADMINISTRATIVE SERVICES, INC.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
ARIZONA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 2,361,569
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
-0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 2,361,569
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
-0-
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
2,361,569
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
16.2%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO
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Page 3 of 10
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CUSIP NO. 64352 D 10 1 Page 4 of
10 Pages
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
THE FOUNDATION COMPANIES, INC.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
ARIZONA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 2,361,569
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
-0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 2,361,569
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
-0-
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
2,361,569
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
16.2%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO
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Page 4 of 10
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CUSIP NO. 64352 D 10 1 13G Page 5 of
10 Pages
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CORNERSTONE FUND I, L.L.C.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
ARIZONA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
-0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
-0-
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
-0-
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
-0-
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
OO
- ------------------------------------------------------------------------------
Page 5 of 10
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Item 1(a) Name of Issuer:
New Century Financial Corporation (the "Issuer")
Item 1(b) Address of Issuer's Principal Executive Offices:
18400 Von Karman, Suite 1000, Irvine, California 92612
Item 2(a) Name of Persons Filing:
The Baptist Foundation of Arizona, Foundation Administrative
Services, Inc., The Foundation Companies, Inc., Cornerstone Fund
I, L.L.C.
Item 2(b) Address of the Principal Business Office or, if None, Residence
of:
The Baptist Foundation of Arizona, Foundation Administrative
Services, Inc., and The Foundation Companies, Inc.: 1313 East
Osborn Road, Suite 250, P.O. Box 33339, Phoenix, Arizona 85067
Cornerstone Fund I, L.L.C.: 5050 North 40th Street, Suite 310,
Phoenix, Arizona 85018
Item 2(c) Citizenship:
The Baptist Foundation of Arizona: Arizona
Foundation Administrative Services, Inc.: Arizona
The Foundation Companies, Inc.: Arizona
Cornerstone Fund I, L.L.C.: Arizona
Item 2(d) Title of Class of Securities:
Common Stock, $.01 par value ("Issuer Common")
Item 2(e) CUSIP Number:
64352 D 10 1
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b)
or (c), check whether the person filing is a:
Not Applicable
Item 4. Ownership
The Baptist Foundation of Arizona:
(a) Amount beneficially owned: 2,361,569 shares (i)
Page 6 of 10
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(b) Percent of Class: 16.2%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 2,361,569(i)
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition
of: 2,361,569(i)
(iv) shared power to dispose or to direct the disposition
of: -0-
Foundation Administrative Services, Inc.
(a) Amount beneficially owned: 2,361,569 shares (i)
(b) Percent of Class: 16.2%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 2,361,569(i)
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition
of: 2,361,569(i)
(iv) shared power to dispose or to direct the disposition
of: -0-
The Foundation Companies, Inc.
(a) Amount beneficially owned: 2,361,569 shares (i)
(b) Percent of Class: 16.2%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 2,361,569(i)
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition
of: 2,361,569(i)
(iv) shared power to dispose or to direct the disposition
of: -0-
Cornerstone Fund I, L.L.C.
(a) Amount beneficially owned: -0-
(b) Percent of Class: -0-
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: -0-
(ii) shared power to vote or to direct the vote: -0-
Page 7 of 10
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(iii) sole power to dispose or to direct the disposition
of: -0-
(iv) shared power to dispose or to direct the disposition
of: -0-
(i) All shares are owned of record by The Foundation Companies, Inc.,
which is a wholly-owned subsidiary of Foundation Administrative
Services, Inc., which is a wholly-owned subsidiary of The Baptist
Foundation of Arizona.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than 5 percent of the class of
securities, check the following [X] (as to Cornerstone Fund
I., L.L.C., only).
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable
Item 10. Certifications
Not applicable
Page 8 of 10
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
February 12, 1999
THE BAPTIST FOUNDATION OF ARIZONA
By: /s/ William P. Crotts
-----------------------------------
President
FOUNDATION ADMINISTRATIVE SERVICES,
INC.
By: /s/ William P. Crotts
-----------------------------------
President
THE FOUNDATION COMPANIES, INC.
By: /s/ Mark Roberts
-----------------------------------
Title: Chief Financial Officer
CORNERSTONE FUND I, L.L.C.
By: THE FOUNDATION COMPANIES, INC.,
MANAGER
By: /s/ Mark Roberts
-----------------------------------
Title: Chief Financial Officer
Page 9 of 10
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EXHIBIT 1
CERTIFICATION REGARDING JOINT FILING OF
SCHEDULE 13G PURSUANT TO RULE 13d-l(k)
OF THE SECURITIES AND EXCHANGE COMMISSION
The Baptist Foundation of Arizona, Foundation Administrative Services,
Inc., The Foundation Companies, Inc. and Cornerstone Fund I, L.L.C. do hereby
certify that the Amendment No. 1 to Schedule 13G to which this certification is
attached as Exhibit 1 is being filed with the Securities and Exchange Commission
on behalf of each of the undersigned.
Dated: February 12, 1999
THE BAPTIST FOUNDATION OF ARIZONA
By: /s/ William P. Crotts
-----------------------------------
President
FOUNDATION ADMINISTRATIVE SERVICES,
INC.
By: /s/ William P. Crotts
-----------------------------------
President
THE FOUNDATION COMPANIES, INC.
By: /s/ Mark Roberts
-----------------------------------
Title: Chief Financial Officer
CORNERSTONE FUND I, L.L.C.
By: THE FOUNDATION COMPANIES, INC.,
MANAGER
By: /s/ Mark Roberts
-----------------------------------
Title: Chief Financial Officer
Page 10 of 10
