U. S. SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                   Form 10-QSB

/X/ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
    EXCHANGE ACT OF 1934

               For the quarterly period ending September 30, 2002

                                       Or

/_/ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

For the transition period from _________ to ____________

                          Commission File No. 333-93475

                  PIF/CORNERSTONE MINISTRIES INVESTMENTS, INC.
                  --------------------------------------------
        (Exact name of small business issuer as specified in its charter)

Georgia                                                       58-2232313
------------------------------------------------------------------------
(State or other jurisdiction                        (IRS Employer Identification
of incorporation or organization)                              Number)

6030 Bethelview Rd, #203, Cumming, GA                           30040
------------------------------------------------------------------------
(Address of principal executive office)                       (Zip Code)

Issuer's telephone number, including area code: (678)-455-1100
                                                --------------

--------------------------------------------------------------------------------
Former name, address and former fiscal year, if changed since last report.

Check  whether  the issuer  (1) filed all  reports  required  to be filed by the
Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for past 90 days.

                  Yes  X                   No
                     -----                   -----

As of October 31, 2002, there were issued and outstanding  530,943.54  shares of
the common stock of the issuer.

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X]


<PAGE>

                  PIF/Cornerstone Ministries Investments, Inc.

                                      Index

                                                                            Page

Form 10-QSB Title Page                                                        1

Index                                                                         2

PART I.  FINANCIAL INFORMATION

         Item 1. Financial Statements

                  Accountant's Review Report                                  3

                  Balance Sheet as of September 30, 2002                      4

                  Statement of Income and Retained Earnings (Deficit)
                  for the Nine Months ended September 30, 2001 and 2002       5

                  Statement of Cash Flows for the Nine
                  Months ended September 30, 2001 and 2002                    6

                  Notes to Financial Statements                               7

         Item 2. Management's Discussion and Analysis of
                  Financial Condition and Results of Operation                10

         Item 3. Controls and Procedures                                      11

PART II. OTHER INFORMATION

         Item 1. Legal Proceedings                                            11

         Item 2. Changes in Securities and Use of Proceeds                    11

         Item 3. Defaults on Senior Securities                                11

         Item 4. Submission of Matters to a Vote of Security Holders          11

         Item 5. Other Information                                            11

         Item 6. Exhibits and Reports on Form 8-K                             11

Signatures                                                                    11

Certifications                                                                12


                                                                               2
<PAGE>

                           ROBERT N. CLEMONS, CPA, PA
                                   PO BOX 1670
                           DELAND, FLORIDA 32721-1670


To The Board of Directors
PIF/Cornerstone Ministries Investments, Inc.


We have reviewed the accompanying  balance sheet of  PIF/Cornerstone  Ministries
Investments,  Inc. as of September 30, 2002 and the related statements of income
& retained  earnings,  and cash flows for the nine  months then ended along with
the statements of income & retained earnings, and cash flows for the nine months
ended  September  30,  2001 in  accordance  with  Statements  on  Standards  for
Accounting  and Review  Services  issued by the American  Institute of Certified
Public Accountants.  All information  included in these financial  statements is
the representation of the management of PIF/Cornerstone  Ministries Investments,
Inc.

A review consists  principally of inquiries of Company  personnel and analytical
procedures  applied to financial data. It is substantially less in scope than an
audit in accordance with generally accepted auditing standards, the objective of
which is the expression of an opinion  regarding the financial  statements taken
as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the accompanying  financial statements and supplementary  information
in  order  for  them to be in  conformity  with  generally  accepted  accounting
principles.


s/ Robert N. Clemons, CPA, PA

DeLand, Florida
November 11, 2002

                                                                               3
<PAGE>

                  PIF/CORNERSTONE MINISTRIES INVESTMENTS, INC.
                     BALANCE SHEET AS OF SEPTEMBER 30, 2002


ASSETS
Cash                                                              $  8,336,995
Accounts Receivable                                                    833,536
Accrued Interest Receivable                                          1,265,041
Deferred Tax Asset                                                     331,526
Real Estate Loans                                                   46,691,338
Bond Holdings                                                        2,571,250
Fixed Assets, net of Depreciation                                      323,111
Goodwill                                                               450,997
Other Intangible Assets, net of Amortization                           811,363
Equity Interest in Unconsolidated LLC                                  564,635
Real Estate & Other Investments Held for Sale, Net                     336,215
Other Assets                                                           124,402
                                                                  ------------
         TOTAL ASSETS                                             $ 62,640,409
                                                                  ============


LIABILITIES & SHAREHOLDER'S EQUITY
Liabilities
Interest Payable                                                  $  2,109,038
Accounts & Other Payables                                              110,706
Investor Certificates                                               55,745,413
Deferred Loan Fees                                                     927,530
Building Mortgage                                                      191,312
                                                                  ------------
         Total Liabilities                                          59,083,999
                                                                  ------------
Shareholder's Equity
Series A Convertible Preferred Stock, no par value,
235,000 shares authorized, 76,923 shares issued & outstanding          500,000
Common Stock, $0.01 Par Value, 10 million shares authorized,
   528,975 shares issued & outstanding                                   5,299
Paid In Capital                                                      3,287,149
Retained Earnings (Deficit)                                           (236,038)
                                                                  ------------
         Total Shareholder's Equity                                  3,556,410
                                                                  ------------
         TOTAL LIABILITIES & SHAREHOLDERS EQUITY                  $ 62,640,409
                                                                  ============


                  SEE ACCOMPANYING NOTES & ACCOUNTANT'S REPORT.


                                                                               4


<PAGE>

                  PIF/CORNERSTONE MINISTRIES INVESTMENTS, INC.
                STATEMENT OF INCOME & RETAINED EARNINGS (DEFICIT)
               FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 & 2002

                                                 2001             2002
                                             -----------      -----------
REVENUES
Interest Income & Fees Earned                $ 2,665,245      $ 3,533,707
Investment Income                                149,384          408,743
Real Estate & Other Income                       200,989          378,385
                                             -----------      -----------
         TOTAL REVENUE                         3,015,618        4,320,835
                                             -----------      -----------
OPERATING EXPENSES
Investor Interest Expense                      1,944,152        2,820,427
Marketing Expenses                               160,632          342,617
Operating Expenses                               623,773          782,673
                                             -----------      -----------
         TOTAL OPERATING EXPENSES              2,728,557        3,945,717
                                             -----------      -----------
OPERATING INCOME                                 287,061          375,118

Impairment Loss                                      -0-         (104,885)
Income Tax (Provision) Benefit                  (121,522)          54,896
                                             -----------      -----------
NET INCOME                                   $   165,539      $   325,129
                                             ===========      ===========

Retained Earnings as Previously Reported     $       339
Correction of Error, Note 2                     (116,178)
                                             -----------
Retained Earnings (Deficit) as Restated         (115,839)     $  (217,101)
Net Income                                       165,539          325,129
Dividends                                       (340,875)        (344,066)
                                             -----------      -----------
Retained Earnings (Deficit), Ending          $  (291,175)     $  (236,038)
                                             ===========      ===========


                  SEE ACCOMPANYING NOTES & ACCOUNTANT'S REPORT.


                                                                               5
<PAGE>

                  PIF/CORNERSTONE MINISTRIES INVESTMENTS, INC.
                             STATEMENT OF CASH FLOWS
               FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 & 2002


                                                    2001              2002
                                                ------------      ------------
Cash Flows from Operating Activities:
Net Income                                      $    165,539      $    325,129
Adjustments to reconcile net income to cash
used by operating activities-
Depreciation & Amortization                           81,527           121,323
Changes in-
Accounts Receivable                                 (300,204)         (384,952)
Accrued Interest Receivable                          (29,588)         (197,498)
Deferred Taxes                                       (64,083)          (88,048)
Prepaid Expenses & Other Assets                       (8,227)          (63,714)
Interest Payable                                     509,040          (929,740)
Accounts & Other Payables                           (315,363)         (150,526)
Deferred Loan Fees                                   199,210           185,230
                                                ------------      ------------
Net Cash Provided By (Used By) Operations            237,851        (1,182,796)
                                                ------------      ------------
Cash Flows from Investing Activities:
Net Real Estate Loans                                (44,874)      (16,439,922)
Fixed Assets Purchased                              (672,852)          (70,782)
Proceeds from Sale of Real Estate                    614,578               -0-
Intangible Assets Acquired                          (195,962)         (341,890)
Assets Held for Sale                                     -0-           (4,702)
Bonds Holdings (Purchased) Disposed               (2,325,000)        2,601,250
                                                ------------      ------------
Net Cash Used by Investing Activities             (2,624,110)      (14,256,046)
                                                ------------      ------------
Cash Flows from Financing Activities:
Common Stock Issued                                  853,356             7,670
Net Investor Certificates Issued                   5,294,010        21,140,457
Mortgage Loan Received                               210,000               -0-
Principal Reduction on Building Mortgage             (10,917)           (5,881)
Dividends Paid                                      (217,999)         (172,451)
                                                ------------      ------------
Cash Provided By Financing Activities              6,128,450        20,969,795
                                                ------------      ------------
Net Change in Cash                                 3,742,191         5,530,953
Cash at Beginning of Period                        2,181,280         2,806,042
                                                ------------      ------------
Cash at End of Period                           $  5,923,471      $  8,336,995
                                                ============      ============
Supplemental Data-
Interest Paid                                   $  1,410,718      $  3,763,001
Income Taxes Paid                               $    227,885      $        -0-


                  SEE ACCOMPANYING NOTES & ACCOUNTANT'S REPORT.


                                                                               6
<PAGE>

                  PIF/CORNERSTONE MINISTRIES INVESTMENTS, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company is in the business of originating and purchasing  Mortgage loans for
faith-based organizations,  principally churches. The Company offers specialized
programs for churches and  non-profit  sponsors of senior housing and affordable
housing  programs.  The Company also invests in similar real estate projects for
the  purpose  of  selling  at a profit,  or  leasing.  Substantially  all of the
Company's loans and investments are in projects  located in the Southeast United
States.

The accounting  policies of the Company conform to generally accepted accounting
principles consistent with its industry.

The Company  recognizes  interest income from loans monthly as it is earned. The
Company  recognizes  loan fees over the term of the loan in accordance with SFAS
Nos. 65 & 91.

The Company has adopted  SFAS No. 142  effective  January 1, 2002.  The expenses
associated  with  organizing the  corporation  and beginning  business have been
capitalized and are being amortized over 60 months.

Management  is of the opinion that losses  arising from the default of Church or
Church related loans are not probable or reasonably estimated. Management has an
aggressive  policy of working out any potential  problem loans before they reach
the  default  stage.  As of the  balance  sheet  date no loan is in arrears in a
material  amount.  Therefore,  no allowance  for loan losses is reflected in the
accompanying statements.

Cash and cash equivalents  include checking accounts and short term certificates
with original maturities of 90 days of less.

Property  and  equipment  are  valued at cost when  purchased.  Depreciation  is
provided on the  straight-line  method over the  estimated  useful  lives of the
assets,  which are generally three to five years,  for furnishings and equipment
and 40 years for the Company's offices.

Interest on Certificates of Indebtedness is accrued  semiannually  from the date
of  issuance,  and  may be  paid  semi-annually.  Investors  holding  five  year
certificates in multiples of $10,000 may receive interest monthly.

Income taxes are provided  for the tax effects of  transactions  reported in the
financial  statements  and consist of taxes  currently due plus  deferred  taxes
related  primarily  to the  difference  between  the methods of  accounting  for
depreciation. The deferred taxes represent the future tax return consequences of
those  differences,  which will be either taxable or deductible  when the assets
and liabilities are recovered or settled.  Accelerated  depreciation methods and
shorter asset lives are used for tax reporting,  and straight-line  depreciation
is used for financial statement reporting. The Company calculates deferred taxes
under the  provisions of the SFAS No. 109 which provides for deferred tax assets
and liabilities to be carried on the balance sheet at current tax rates.

Management   uses  estimates  and   assumptions  in  preparing  these  financial
statements in accordance with generally accepted  accounting  principles.  Those
estimates and assumptions affect the reported amounts of assets and liabilities,
the disclosure of contingent  assets and liabilities,  and the reported revenues
and expenses. Actual results could vary from the estimates that are used.

Certain report classifications used in prior year financial statements have been
reclassified to conform to current year presentation.

NOTE 2 - CORRECTION OF PREVIOUS FINANCIAL STATEMENTS

The Company has retroactively restated prior period's financial statements for a
correction in it's method of  recognizing  fees  associated  with mortgage loans
required by SFAS 95. As of December 31, 2000 the Company deferred  unearned loan
fees net of related deferred taxes aggregating $275,440.

NOTE 3 - LEASE COMMITMENTS

The Company has no material lease commitments at September 30,2002.


                                                                               7
<PAGE>

                  PIF/CORNERSTONE MINISTRIES INVESTMENTS, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 4-REAL ESTATE LOANS RECEIVABLE

At September 30, 2002 the Company had Real Estate Loans Receivable from Churches
and Church related properties  totaling  $46,691,338.  These loans mature over a
period beginning in 2002 and ending in 2012.

NOTE 5 - INTANGIBLE ASSETS

The  Company  has  adopted  SFAS 142  "Goodwill  and  Other  Intangible  Assets"
effective January 1, 2002. Goodwill associated with the Company's acquisition of
Presbyterian Investor's Fund, Inc. (PIF) is carried at $450,997. Management does
not believe  impairment of this asset has occurred and  accordingly no provision
for impairment loss has been recorded.  Other Intangible Assets consist of costs
incurred to register the  Company's  debt  securities  and  commissions  paid or
accrued on the sale of debt  securities.  These are amortized on a straight line
basis over a period of 5 years.

NOTE 6 - INCOME TAXES

Income tax expense  (benefit)  consists of  estimated  federal and state  income
taxes on the company's taxable income,  and the change in components of deferred
tax  assets and  liabilities.  The  Company's  tax-free  investments  offset all
taxable income through September 30, 2002.  Accordingly,  all income tax expense
(benefit)  is  due  to  changes  in  the  Company's   Deferred  Tax  Assets  and
Liabilities.

NOTE 7 - CASH CONCENTRATION

A cash  concentration  risk arises when the Company has more cash in a financial
institution than is covered by insurance.  At September 30, 2002 the Company had
cash in one institution in excess of insured limits totaling $7,981,368.

NOTE 8-SECURITIES OFFERINGS

During  the  year  ended  December   31,2001  the  Company  filed  2  Form  SB-2
Registration   Statements   under  the  Securities  Act  of  1933.  Under  these
Registration  Statements,  the Company issued 3 separate  securities.  Under the
first of the SB- 2 filings the Company issued  securities  identified as "Access
Certificates". These certificates have no stated maturity, are purchased in $100
increments  and bear a rate of interest as determined by the Company's  board of
directors on the first of each January,  April, July and October.  The directors
may also change the rates between these dates if market conditions  warrant such
a  change.  Under  this  same  filing  the  Company  issued  5  year  "Graduated
Certificates".  These  certificates  require a minimum investment of $500. Under
the  terms of the  offering  as  filed,  these  certificates  carry a  graduated
interest rate based on how long the  certificate is held by the investor up to 5
years.  These certificates are not collateralized and no sinking fund for paying
the  certificates  on maturity is required.  Also during the year ended December
31,2001  the  Company  offered up to  $17,000,000  of Series B  Certificates  of
Indebtedness.  Of the $17,000,000 being offered,  $3,000,000 has a March 13,2003
maturity date and bears an interest rate of 7%. The remaining  $14,000,000  will
have a March 15, 2005 maturity date and bear interest at 9%. These  certificates
are not  collateralized  and no  sinking  fund for paying  the  certificates  on
maturity is required.

NOTE 9-LOAN GUARANTEES

At September  30, 2002 the Company was guarantor for loans secured by retirement
facilities  owned by non-profit  entities.  The total of such loan guarantees is
approximately $20,310,000 at September 30, 2002.

NOTE 10-PROFIT SHARING PLAN

During the year ended  December  31,  2001,  the  Company  established  a Profit
Sharing  Plan for its  employees.  The Plan allows for entry into the plan after
one year of service, and immediate vesting of contributed amounts. The Plan does
not have an employee contribution component. All contributions are to be made at
the discretion of the Company after approval by the board of directors.  For the
period  ended  September  30,  2002  the  Company  has  not  determined  that  a
contribution will be made.

NOTE 11-ACQUISITION OF INTEREST IN LIMITED LIABILITY COMPANY

During the year ended December 31, 2001, the Company  acquired a 50% equity (99%
profits  interest) in Wellstone  Financial  Group,  LLC (WFG), a Georgia Limited
Liability  Company.  WFG was formed  for the  purpose  of  assisting  non-profit
entities  secure  financing  from sources other than the Company for  retirement
facilities,  childcare facilities and church and church related facilities.  WFG
receives  a fee for  assisting  these  non-profit  entities  secure  non-Company
financing. The Company accounts for its investment by the Equity Method.


                                                                               8
<PAGE>

                  PIF/CORNERSTONE MINISTRIES INVESTMENTS, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 12 - BUILDING MORTGAGE

In  connection  with the  acquisition  of office space,  the Company  obtained a
mortgage in the amount of $210,000. The real estate is pledged as collateral for
the loan and the mortgage  requires  monthly  payments of principle and interest
totaling $2,068. Estimated principle reductions are-

Year 2003   $7,017     Year 2004   $7,717     Year 2005   $8,487
Year 2006   $9,333     Year 2005 & Beyond   $157,105

NOTE 13 - SERIES A CONVERTIBLE PREFERRED STOCK

In December,  2001 the Company amended its Articles of  Incorporation to provide
for the  issuance  of up to  235,000  shares of Series A  Convertible  Preferred
Stock.  The shares do not accrue dividends unless such dividends are declared by
the Board of Directors. The shares entitle the preferred shareholder to have one
vote per share,  presently  equal to the voting  rights of Common  shareholders.
Each share is convertible,  after 3 years,  into shares of Common Stock based on
an adjustable  formula. If the shares were convertible at the balance sheet date
herein, an additional 76,923 shares of Common Stock could be issued.


                                                                               9
<PAGE>

Item 2. Management's Discussion and Analysis of Financial Condition and  Results
        of Operations

Overview

Since  our  inception,   we  have  been  focused  on  serving  only  faith-based
organizations,  principally  churches and non-profit sponsors of senior housing,
affordable housing, school and daycare programs.

PIF/CMI  generates revenue primarily from origination and renewal fees on loans,
interest on these loans, gains on the sale of property and interest on bonds and
money market  accounts.  We currently  charge a 10% fee on new loans and renewal
fees of as much as 5% of the  outstanding  balance  of the  renewing  loan.  Our
interest  rate on all new loans is  currently  from 10% to 12%.  Some  loans are
participating  loans,  enabling  PIF/CMI to receive income from the gains on the
sale  of  property  for  which  it has  provided  financing.  The  participation
percentage varies between 25% and 33% of the gains on the sale of real estate.

Comparison of Periods Ending September 30, 2001 and September 30, 2002

Income

General.  Assets increased from $38,038,922 at September 30, 2001 to $62,640,409
at the end of September 2002, as a result of the sale of our certificates. Total
Revenue was  $4,320,835  for the first three quarters of 2002 and $3,015,618 for
the same period in 2001.  Net income for these  periods,  before  dividends  but
after  taxes,  was  $325,129  for the 2002 period and $165,539 in the first nine
months of 2001.

Total loans  outstanding on September 30, 2002 were  $46,691,338 and $26,439,969
on September 30, 2001.  Our other assets at the end of September 2002 included a
$2,571,250 investments in bonds.

Interest  Income.  Interest income and fees earned increased from $2,665,245 for
the nine months  ended  September  30, 2001 to  $3,533,707  in the 2002  period,
largely as a result of the additional loans made during this period.

Investment  Income.  Most of our investment income is from our purchase of bonds
used as permanent  financing for projects we had funded during their development
and initial  operations.  We owned $2,571,250 of bonds at September 30, 2002, up
from  $2,325,000  at September  31, 2001.  We received  $408,743 in interest and
dividends  during the first nine  months of 2002,  compared  to  $149,384 in the
similar 2001 period.

Other Real Estate Income. The increase,  to $408,743 in the first nine months of
2002 from  $200,989 in the 2001 period,  was  principally  from the sale of real
estate.

Expenses

Investor  Interest  Expense.  As a  result  of  its  growth  in  assets  through
certificate  sales, we experienced an increase in interest expense to $2,820,427
in the first  nine  months  of 2002 from  $1,944,152  in the 2001  period.  This
increase  in  interest  expense  is  primarily  a result  of a net  increase  in
outstanding  certificate  principal,  to $55,745,413  at September 30,  2002from
$31,251,206 a year earlier.

Marketing  Expenses.  To date, CMI has not committed  substantial  resources for
marketing our lending capabilities because of the continuing backlog of projects
with  which  we  have  been   approached.   Total  expenses  for  marketing  our
certificates  in the first three quarters of 2002 were $342,617  versus $160,632
in 2001. Selling  commissions paid to brokers for selling  certificates are paid
in cash but charged as an expense over the term of the  certificates  they sold.
The  unamortized  balance is on the Balance  Sheet as part of "Other  Intangible
Assets, net of amortization."

Operating  Expenses.  Operating expenses increased to $782,673 in the first nine
months of 2002 from $623,773 in the same period of 2001. This increase  reflects
additional employees and compensation added to handle growth in our business, as
well as the support facilities for the increased number of employees.

Impairment  Loss.  During the nine months ended September 30, 2002 we charged as
an expense  the  $104,885  incurred  to create a  structure  for  marketing  our
certificates.

Taxes. We estimated income taxes for the nine-month periods,  based on projected
income  estimates for the year,  including the tax-free  income from bonds.  All
income tax expense  (benefit)  is due to changes in our  deferred tax assets and
liabilities.

Liquidity and Capital Resources

Cash flows from  Operations.  Net cash used by operations  was $1,182,796 in the
first nine months of 2002 and net cash from operations was $237,851in 2001. Most
of the  difference  is from the amount of interest  payable as of the end of the
period.

Cash  Flows  from  Investing  Activities.   We  used  $14,256,046  in  investing
activities  in the  first  nine  months  of  2002,  up from  $2,624,110  for the
year-earlier period. The difference was more than $16 million in net real estate
loans  made in 2002,  offset  by the  purchase  of bonds in 2001 and the sale of
bonds in 2002.


                                                                              10
<PAGE>

Cash from Financings.  For the nine months ended September 30, 2002, $21,140,457
was raised from the sale of new  certificates,  after  subtracting the amount of
outstanding  securities  redeemed.  The net new capital raised from  certificate
sales in the 2001 period was $5,294,010.

We believe that additional sales of new investments from the current and planned
offerings,  as well as cash on hand, expected refinancings and sales of existing
loans,  will be sufficient  to meet our capital needs for the next quarter.  The
amount and timing of our future capital requirements will depend on factors such
as the  origination  and  funding of new  investments,  the costs of  additional
underwriting and marketing efforts, and general expenses of operations.

Effects of Inflation or Deflation

Inflation,  which has been limited  during the course of our operating  history,
has had  little  effect  on  operations  and we do not  believe  it will  have a
significant  effect on our cost of capital or on the rates that we charge on our
loans. Inflation resulting in increased prices for real estate could potentially
decrease the ability of some potential clients to purchase,  finance, or lease a
property.  There is very limited  experience with a period of declining  prices,
deflation. It could make it more difficult for our borrowers to obtain long-term
financing  on  their  properties,  so that the  periods  of our  loans  could be
extended.

Item 3. Controls and Procedures

The principal executive officer and the principal financial officer of the small
business  issuer,  PIF/Cornerstone  Ministries  Investments,  Inc.,  have, as of
October 31, 2002,  evaluated the small business issuer's disclosure controls and
procedures,  as defined by Sections  13a-14(C) and  15d-14(C) of the  Securities
Exchange Act of 1934. Based on their evaluation,  they have concluded that those
disclosure  controls and procedures are designed and implemented  effectively to
ensure that information required to be disclosed by the small business issuer in
the  reports  that it files or submits  under that Act is  recorded,  processed,
summarized and reported,  within the time periods  specified in the Commission's
rules and forms.

Part II. Other Information

Item 1.  Legal Proceedings

         Not Applicable

Item 2.  Changes in Securities

         Not Applicable

Item 3.  Defaults upon Senior Securities

         Not Applicable

Item 4.  Submission of Matters to a Vote of Securities Holders

         Not Applicable

Item 5.  Other Information

         Not Applicable

Item 6.  Exhibits  and Reports on Form 8-K

(a) No  exhibits  are filed with this report.

(b) No reports on Form 8-K were filed  during the  quarter for which this report
    is filed.

Signatures

In accordance  with the  requirements  of the  Securities  and Exchange Act, the
registrant  caused  this  report to be signed on its behalf by the  undersigned,
thereunto duly authorized.

Dated: November 13, 2000       PIF/Cornerstone Ministries Investments, Inc.
                               (Registrant)


                               By:    S/John T. Ottinger
                                  -----------------------------------------
                                      John T. Ottinger
                                      Vice President and Chief Financial Officer


                                                                              11
<PAGE>

Certifications

I, Cecil A. Brooks, certify that:

1. I have  reviewed  this  quarterly  report on Form  10-QSB of  PIF/Cornerstone
Ministries Investments, Inc.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a) designed  such  disclosure  controls and  procedures  to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which this quarterly report is being prepared;

b) evaluated  the  effectiveness  of the  registrant's  disclosure  controls and
procedures  as of a date  within  90  days  prior  to the  filing  date  of this
quarterly report (the "Evaluation Date"); and

c) presented in this quarterly report our conclusions about the effectiveness of
the  disclosure  controls  and  procedures  based  on our  evaluation  as of the
Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
registrant's   board  of  directors  (or  persons   performing   the  equivalent
functions):

a) all significant  deficiencies in the design or operation of internal controls
which  could  adversely  affect the  registrant's  ability  to record,  process,
summarize and report  financial data and have  identified  for the  registrant's
auditors any material weaknesses in internal controls; and

b) any  fraud,  whether  or not  material,  that  involves  management  or other
employees who have a significant role in the registrant's internal controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: November 13, 2002             s/Cecil A. Brooks
                                    -----------------
                                    Cecil A. Brooks, Chairman of the Board,
                                    President, Chief Executive Officer



I, John T. Ottinger, certify that:

1. I have  reviewed  this  quarterly  report on Form  10-QSB of  PIF/Cornerstone
Ministries Investments, Inc.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a) designed  such  disclosure  controls and  procedures  to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which this quarterly report is being prepared;

b) evaluated  the  effectiveness  of the  registrant's  disclosure  controls and
procedures  as of a date  within  90  days  prior  to the  filing  date  of this
quarterly report (the "Evaluation Date"); and

c) presented in this quarterly report our conclusions about the effectiveness of
the  disclosure  controls  and  procedures  based  on our  evaluation  as of the
Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
registrant's   board  of  directors  (or  persons   performing   the  equivalent
functions):

a) all significant  deficiencies in the design or operation of internal controls
which  could  adversely  affect the  registrant's  ability  to record,  process,
summarize and report  financial data and have  identified  for the  registrant's
auditors any material weaknesses in internal controls; and

b) any  fraud,  whether  or not  material,  that  involves  management  or other
employees who have a significant role in the registrant's internal controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.


Date: November 13, 2002                  s/John T. Ottinger
                                         ------------------
                                         John T. Ottinger, Vice President,
                                         Chief Operating Officer and
                                         Chief Financial Officer

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