CP 6.13% ahead of budget projection
NASHVILLE (BP) -- Year-to-date contributions to Southern Baptist Convention national and international missions and ministries received by the SBC Executive Committee are 6.13 percent above the year-to-date budgeted projection, and are 2.65 percent above contributions received during the same time frame last year, according to a news release from SBC Executive Committee President and CEO Frank S. Page. The total includes receipts from state conventions and fellowships, churches and individuals for distribution according to the 2015-16 SBC Cooperative Program Allocation Budget.
As of May 31, gifts received by the Executive Committee for distribution through the Cooperative Program Allocation Budget through the first eight months of the Convention's fiscal year totaled $131,956,900.93. This total is $7,623,567.60 above the $124,333,333.33 year-to-date budgeted amount to support SBC ministries globally and across North America and is $3,405,282.76 more than the $128,551,618.17 received through the end of May 2015.
Designated giving of $170,515,243.82 for the same year-to-date period is 9.02 percent, or $14,107,608.63, above gifts of $156,407,635.19 received at this point last year. This total includes only those gifts received and distributed by the Executive Committee and does not reflect designated gifts contributed directly to SBC entities. Designated contributions include the Lottie Moon Christmas Offering for International Missions, the Annie Armstrong Easter Offering for North American Missions, Southern Baptist Global Hunger Relief and other special gifts.
May's CP allocation receipts for SBC work totaled $16,150,296.65. Designated gifts received last month, meanwhile, amounted to $26,683,423.02.
The Convention-adopted budget is distributed 50.41 percent to international missions through IMB, 22.79 percent to North American missions through NAMB, 22.16 percent to theological education through the Convention's six seminaries, 2.99 percent to the SBC operating budget, and 1.65 percent to the Ethics & Religious Liberty Commission. GuideStone Financial Resources and LifeWay Christian Resources are self-sustaining and do not receive CP funding.
According to the budget adopted by the SBC at its June 2015 annual meeting in Columbus, Ohio, if the Convention exceeds its annual budget goal of $186.5 million dollars, IMB's share will go to 51 percent of any overage in Cooperative Program allocation budget receipts. Other ministry entities of the Southern Baptist Convention will receive their adopted percentage amounts and the SBC operating budget's portion will be reduced to 2.4 percent of any overage.
The Cooperative Program is Southern Baptists' unified channel of giving through which a local church is able to contribute to the various ministries of its state or regional Baptist convention and to the various missions and ministries of the SBC with a single contribution. State and regional Baptist conventions retain a portion of church contributions to the Cooperative Program to support work in their respective areas and forward a percentage to SBC national and international causes. The percentage of distribution from the states is at the discretion of the messengers of each state convention through the adoption of the state convention's annual budget. The totals in this release reflect only the SBC portion of Cooperative Program receipts.
CP allocation budget receipts received by the Executive Committee are reported monthly to the executives of the entities of the convention, to the state offices, to the denominational papers and are posted online at www.cpmissions.net/CPReports.
The end-of-month total represents money received by the Executive Committee by the close of the last business day of each month. Month-to-month swings reflect a number of factors, including the number of Sundays in a given month, the day of the month churches forward their CP contributions to their state conventions and the timing of when state conventions forward the national portion of their CP contributions to the Executive Committee.