NASHVILLE (BP) — Cooperative Program (CP) giving for August was 9.44% above the same month in 2023 and 5.18% ahead of budget goals. CP receipts so far this fiscal year are 1.7% below budget needed for the year.
While designated receipts for August were well below last year’s at $5.49 million (18% below August 2023), year-to-date designated receipts are slightly above last year’s at this point.
August national Cooperative Program giving:
- Monthly budgeted amount: $15,718,000.00
- August 2024 giving: $16,531,562.40
- Above/below budget: $813,562.40 (5.18%) above budget
Total national Cooperative Program giving:
- Year to date budgeted amount: $179,337,000.00
- Year to date giving: $176,293,832.71
- Above/under budget: $3,043,167.29 (1.7%) below budget
Designated giving:
- August giving: $5,489,323.50
- Year to date giving: $196,515,958.82
- Previous year to date total: $196,304,827.90
- Above/below previous year: $211,130.92 (.11%) 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.
