February 24, 2003
CBF contributions down at mid-year
___ATLANTA--Halfway through its fiscal year, the Cooperative Baptist Fellowship reports a 6 percent decline in contributions from individuals and churches.
___Total income, however, has been bolstered by a $2 million grant from the Lilly Endowment for a project to promote ministerial excellence.
___The number of churches contributing directly to the CBF also declined for the first six months of the fiscal year, while the number of individuals contributing increased. The Atlanta-based ministry reported contributions from 1,385 churches and 2,238 individuals between July 1 and Dec. 31, 2002. That compares to contributions from 1,409 churches and 2,168 individuals during the same period the previous year.
___The number of churches contributing to CBF cannot be stated with certainty because at least one state convention, North Carolina, forwards money to CBF from its churches without detailing names of those churches.
___Total revenue from churches and individuals was $6.29 million for the first half of the fiscal year, with $4.14 million of that in undesignated gifts, a slight drop from last year's $4.17 million in the first two quarters.
___Total revenue from all sources reached $8.5 million, including the $2 million Lilly grant.
___Decreases in undesignated giving were offset somewhat by increased giving to the Global Missions Offering. Those gifts reached $1.35 million, up 9.4 percent from the $1.23 million given in the same period last year.
___The number of Texas churches giving to CBF has declined this year, from 288 at the mid-point last fiscal year to 274 this year. The number of individual Texans contributing increased, however, from 382 to 437.
___Undesignated gifts from Texas churches declined 23.57 percent for the six-month period, from $723,379 to $552,913. Undesignated gifts from individuals in Texas increased from $38,762 to $77,446.
___Taken together, that means overall undesignated gifts from Texas declined by 17.29 percent, from $762,141 to $630,359.
___Even though national giving to the Global Missions Offering is up, Texas churches and individuals gave 17 percent less to the special offering--from $349,903 in fiscal 2001-02 to $290,272 in fiscal 2002-03.
___"In Texas, the downward trend mirrors the decreased giving to the state convention," said CBF Coordinator Daniel Vestal, a former Texas pastor. "We're also beginning to see some of the churches give to the state CBF organization as well as national CBF."
___Nationally, the CBF's contributions from churches and individuals are running 16 percent below budget.
___"When we approved the budget for this year at the general assembly in Fort Worth, we knew it was an ambitious budget," said Jim Strawn, chief financial officer. "We put in place mechanisms to monitor revenues month-to-month. We were prepared to make adjustments as necessary. We have been making internal adjustments. We also have been contacting our partners to inform them of the changes we have had to make. We believe this fiscal restraint is responsible and will help us remain financially stable in an overall unstable economy."
___In response to the declining contributions, CBF officials have notified their "partner" ministries--including two Texas seminaries--that funding will be provided at 85 percent of budgeted levels. "If revenues pick up, partners will be funded accordingly," explained CBF spokesman Ben McDade.
___Meanwhile, the CBF has cut its own spending by 11 percent to date, McDade added. That equals a $1.8 million reduction in expenditures beyond the reductions passed on to partner ministries.
___The cuts have been made without staff reductions so far, he said. "However, we have some staff vacancies that have occurred or will occur through attrition that will be seriously looked at before or if they are filled."
___Cuts also have been made in travel, publications and training events, McDade added.
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