NASHVILLE (BP) – Generous giving through the National Cooperative Program significantly cut into this year’s budget deficit. CP giving exceeded the monthly budgeted amount by more than 5 percent.
“This news is yet another reminder of the faithfulness of Southern Baptists to our collective mission,” said Jonathan Howe, interim president and CEO of the Southern Baptist Convention Executive Committee. “I am increasingly encouraged by the generosity of Southern Baptists through the Cooperative Program.”
The $19,118,118.40 monthly total is the highest monthly total since January 2022, according to Howe.
Executive Committee leadership shifted to dynamic – or cash flow – budgeting with this budget year. Leaders say it more closely mirrors giving patterns throughout the year as well as seasons where more is required of the budget, such as costs associated with the annual meeting.
February National Cooperative Program giving:
- Monthly budgeted amount: $18,156,000.00
- January 2024 giving: $19,118,118.40
- Above/below budget: $962,118.40 (5.30 percent) above budget
Total National Cooperative Program giving:
- Year to date budgeted amount: $84,267,000.00
- Year to date giving: $82,849,885.42
- Above/under budget: $1,417,114.58 (1.68 percent) below budget
Designated giving:
- February giving: $55,309,883.70
- Year to date giving: $90,347,852.96
- Previous year to date total: $91,180,839.32
- Above/below previous year: $832,986.36 (.91 percent) below the previous year
The convention-adopted budget for 2023-2024 is $195,250,000 and includes a $250,000 special priority allocation for the SBC Vision 2025 initiative.
Cooperative Program funds are then disbursed as follows:
- 50.41 percent to international missions through the International Mission Board
- 22.79 percent to North American missions through the North American Mission Board
- 22.16 percent to theological education through the six SBC seminaries and the Southern Baptist Historical Library and Archives
- 2.99 percent to the SBC operating budget
- 1.65 percent to the Ethics & Religious Liberty Commission.
If national CP gifts exceed the budget projection at the end of the fiscal year, the balance of the overage is distributed according to the percentages approved for budgetary distribution. The SBC Executive Committee distributes all CP and designated gifts it receives on a weekly basis to the SBC ministry entities.
CP allocation budget gifts received by the Executive Committee are reported monthly to the executives of the entities of the convention, to the state convention offices, to the state Baptist papers and are posted online at sbc.net/cp.
