imb_stocks_81103

Posted: 8/8/03

Stock market gives IMB some financial relief

RICHMOND, Va.–Gains in the stock market are providing some relief for the International Mission Board's financial strains, the board's treasurer told trustees during their July meeting in Richmond.

Investment income probably will reach the $23 million level budgeted for 2003, reported David Steverson. However, he did not rule out the possibility of further spending reductions in addition to the $10 million cut from the IMB budget in June.

Those cuts eliminated 61 staff positions and put limits on the number of new missionary appointments allowed for the remainder of the year. While gifts to the IMB have increased 1.5 percent in the last two years, the board's missionary count has increased 8.7 percent.

Funding for the increasing missionary force was augmented by healthy investment income prior to the market woes of 2001 and by drawing on reserve funds since then.

IMB trustees also celebrated Jerry Rankin's 10th anniversary as president, heard a report on missionary attrition and appointed 70 missionaries.

“No one is more amazed than I at how God has worked in these 10 years through the IMB,” Rankin said. “It is not about us, but about God's glory. He will not share his glory, and as long as we humbly walk in submission to his lordship, resist taking credit and acclaim and are driven only by a desire for Christ to be exalted among all peoples, I believe God's blessings will be assured.”

The attrition study found that prior overseas experience significantly reduces the dropout rate among long-term missionaries.

Missionaries with no overseas experience prior to appointment suffered a 6 percent loss rate in 2002, compared to a 3.3 percent loss rate for missionaries with previous IMB service.

The overall attrition rate for long-term personnel was 5.2 percent in 2002, compared to 5.1 percent in 2001.

The study also found that long-term personnel in the 41-50 age range had a higher attrition rate–6.6 percent–than any other age group.

Long-term personnel comprise 72.8 percent of the IMB's total missionary force. Long-term personnel are those appointed to assignments of two years or longer.

The top three reasons for missionary resignations in 2002 were related to work (15.2 percent), calling (14.1 percent) and IMB organization (14.1 percent), the report said. Another 12.5 percent of resigning missionaries cited accepting a stateside job as a factor in the decision to resign. Missionaries often cite multiple reasons for resignation.

Trustees also approved a change in the board's mission statement, which was shortened to state, “Making Jesus Christ known among all peoples.”

The previous mission statement said the board's task was “to lead Southern Baptists in international missions efforts to evangelize the lost, disciple believers, develop churches and minister to people in need. Leading Southern Baptists is done by mobilizing prayer support, appointing missionaries, enlisting volunteers, channeling financial support and communicating how God is working overseas.”

The next meeting of IMB trustees will be held Sept. 8-10 in Austin. A missionary appointment service is set for Sept. 9 at Great Hills Baptist Church in Austin.