In three more days IBIA will have completed its first five terms. Each term is four weeks. We teach three
courses in each term. Each course has forty hours of classroom instruction. We also had a one week seminar.
This was eight hours a day for five days. So, by Friday, July 7 these guys will have completed 640
hours of classroom study. I am listing for you the courses these guys have taken so far: Spiritual
Wholeness, Confident Preaching, Gospel of Luke, Spiritual Disciplines, Interpretive Reading, Old
Testament History (1), Introduction to Homiletics, Greek (1), Apologetics (1), Christian Home, Effective
Bible Study, Evangelistic Message (1), Old Testament History (2), Topical Preaching, Greek (2) and The Book of Acts.

We have four full-time students who have gone the distance so far. Three of those live in the IBIA
residence. This is a two year program with eight terms per year. So, these guys are more than half way
through their first year. They will complete their first year in December. It is amazing and humbling to
see how God is growing these men.

As we look back over these last six months, it is so obvious that God has graciously and mercifully carried
us to this point. As we step back and try to objectively view what we are now apart of with IBIA,
it simply humbles us. Our God is Almighty.

We are also very aware that God has worked through so many of you in accomplishing what we now see in IBIA. Though we have come a good distance in establishing this school, there is still a long way to go. We still
need your assistance to not only maintain what has been achieved, but to push through to the next stages
of our developmental process.

We really do need funding to enable us to travel. This is for our flights back to the States and traveling
within Albania, the Balkan region and Europe. We fly back to the States to recruit visiting instructors,
report to as many of you as we are able who are partnered with us and to raise additional funds for
the expansion of IBIA. We need to travel here in Europe to raise an awareness of IBIA – who we are and
what our mission is. We also need to recruit additional students for our new class that is to begin
in January of 2007.

Deborah and I will arrive back in the States on July 14th. We will leave for Albania on August 30th. This
allows us seven weekends to try to be with some congregations that would like to hear our reports and
possibly become involved with us in a financial way. We will try to make contact with as many of you as
possible while we are in the States. It is quite a distance between those who are partnered with us -
from New Mexico to Maine.

Our most pressing needs:

Personal support – Many of you made one year commitments. Those commitments expire soon. We would
like to request for you to continue if you are able.

Travel fund – Detailed above.

Computers – We would like to have four more laptops. Used would be fine. We need a minimum of 40G hard
drive; 448 MB of RAM; a CD drive reader; a processor speed of 1.58 GHz.

Working fund – Beginning in January our current funding will end. These funds are used for the ongoing
expenses (supplies, etc) for the IBIA office; IBIA advertising (brochures distributed at Youth Day,
Ladies Day, Summer Camp, Men’s Day, etc); Hosting morale building events for students and staff
(Bowling, Dinner at the end of the Winter/Spring school session, etc); Hospitality for IBIA guests;
Maintenance and continued development of IBIA computer network and research library.

Student scholarships – The amount we need per student varies based on the number of students. Our current
operational expenses for the school and residence are $2,200 per month. As we add a new group of students in
January of 2007 our expenses will increase. We have been working with a figure of $400 per month per
student. Up to now this has not been adequate. We are hoping with the increase of student numbers that this
amount will be sufficient. If you want more detailed information we will send it to you as you request it.

I deeply appreciate the faith of those of you who supported us and the idea of IBIA. Now, our dream has
begun to take shape. IBIA is no longer only an idea. God has brought it into reality. For IBIA to continue
and to develop we need to ask that you continue on with us. We also need new partners to share with us in
meeting our ongoing expenses and to be able to meet the needs of our natural progression.

We look forward to hearing from you soon as we will be filling up our schedule. We ask that you continue to
pray with us for IBIA.

For His Glory,
Steve Stamatis – Dean of IBIA