Year-to-date contributions to Southern Baptist Convention national and international missions and ministries received by the SBC Executive Committee are 4.86 percent above the year-to-date budgeted projection, and are 0.86 percent below 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 2016-17 SBC Cooperative Program Allocation Budget.
As of Feb. 28, gifts received by the Executive Committee for distribution through the CP Allocation Budget through the first five months of the SBC's fiscal year totaled $82,575,921.81. This total is $3,825,921.81 above the $78,750,000.00 year-to-date budgeted amount to support the convention's ministries globally and across North America and is $717,637.76 below the $83,293,559.57 received through the end of February 2016.
Designated giving of $87,947,343.09 for the same year-to-date period is 9.72 percent, or $9,464,315.04, below gifts of $97,411,658.13 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.
February's CP allocation receipts for SBC work totaled $17,615,355.19. Designated gifts received last month, meanwhile, amounted to $50,716,347.58.
The CP Allocation Budget goal of $189 million dollars adopted by the SBC at its June 2016 annual meeting in St. Louis 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 Executive Committee and 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.
If the convention exceeds its budget goal, IMB's share will go to 51 percent of any overage in CP Allocation Budget receipts. Other ministry entities of the SBC will receive their adopted percentage amounts and the EC and SBC operating budget's portion will be reduced to 2.4 percent of any overage.
The Cooperative Program is a unified plan of giving through which a local church is able to contribute to the ministries of its state or regional Baptist convention and to the missions and ministries of the Southern Baptist Convention 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 press release reflect only the SBC portion of CP 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 EC 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 EC.