October 13, 1999
SBC ends year with record gifts
___NASHVILLE, Tenn. (BP)--For the sixth consecutive year, the Southern Baptist Convention ended its fiscal year with record Cooperative Program gifts, nearly $168 million, surpassing last year's record by more than $8 million and the yearly budget by nearly $13 million.
___For the fiscal year ending Sept. 30, the $167.99 million total is $8.41 million, or 5.27 percent, above last year's record of $159.58 million. The SBC's Cooperative Program Allocation Budget for the year of $155.01 million was surpassed by $12.99 million or 8.38 percent.
___The increase in total gifts for the sixth year in a row means the remaining $3.1 million of the SBC's Capital Needs Budget will be paid, finishing a 10-year capital needs budget a year ahead of schedule. All gifts over the regular budget have been distributed 50 percent to the capital needs budget and 50 percent according to the regular percentage of the allocation budget. Now that the capital needs budget has been completed, all gifts over the regular budget will be forwarded to convention agencies according to the regular Cooperative Program funding formula, which entails, for example, a 50 percent allocation to the International Mission Board and 22.79 percent to the North American Mission Board.
___"We have every reason to praise the Lord and to thank Southern Baptists across the country," said Morris Chapman, SBC Executive Committee president.
___Designated receipts also set another record, topping last year's $150.59 million by $1.14 million, or 0.76 percent. The 1998-99 designated gifts total of $151.74 million set a record for the sixth year.
___The SBC Cooperative Program total includes receipts from individuals, churches and state conventions.
___Churches cooperating with the Baptist General Convention of Texas choose how much, if any, of their mission money is to be forwarded to the SBC. Churches also are allowed to support the SBC's entire budget or selected parts of the SBC's budget.Contents/ Masthead / Why We're Here / Links / Archive / E-mail us/ SUBSCRIBE!