NASHVILLE (BP) — May Cooperative Program (CP) totals were 4.35% above budget goals and 3.37% above last May’s totals. CP receipts so far this fiscal year are 1.2% below budget targets and .3% above the same point last year.
Designated receipts saw a large jump in May, totaling more than $30.2 million compared to last May’s $17.2 million. This can likely be explained by this year’s Annie Armstrong Easter Offering, which was collected mostly in March.
May National Cooperative Program giving:
- Monthly budgeted amount: $16,206,000.00
- May 2024 giving: $16,911,415.53
- Above/below budget: $705,415.53 (4.35%) above budget
Total National Cooperative Program giving:
- Year to date budgeted amount: $131,968,000.00
- Year to date giving: $130,389,953.10
- Above/under budget: $1,578,046.90 (1.2%) below budget
Designated giving:
- May giving: $30,244,558.91
- Year to date giving: $164,681,319.56
- Previous year to date total: $150,987,550.07
- Above/below previous year: $13,693,769.49 (9.07%) above the previous year
The convention-adopted budget for 2023-2024 is $195,250,000 and includes a $250,000 special priority allocation for the Southern Baptist Convention (SBC) Vision 2025 initiative.
Cooperative Program funds are then disbursed as follows:
- 50.41% to international missions through the International Mission Board (IMB)
- 22.79% to North American missions through the North American Mission Board (NAMB)
- 22.16% to theological education through the six SBC seminaries and the Southern Baptist Historical Library and Archives
- 2.99% to the SBC operating budget
- 1.65% to the Ethics & Religious Liberty Commission (ERLC)
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.
