More than $14 million given through CP as new budget year begins

NASHVILLE (BP) – Cooperative Program giving for the first month of the fiscal year totaled more than $14 million but fell short of the monthly goal. October giving was 3.65 percent below the budgeted amount.

Designated receipts for October were nearly 11 percent below last October, totaling just more than $3.7 million.

October National Cooperative Program giving:

• Monthly budgeted amount: $14,800,000.00
• October 2024 giving: $14,260,073.78
• Above/below budget: $539,926.22 (3.65 percent) below budget

Total National Cooperative Program giving:

• Year to date budgeted amount: $14,260.073.78
• Year to date giving: $14,800,000
• Above/under budget: $539,926.22 (3.65 percent) below budget

Designated giving:

• October giving: $3,726,254.93
• Year to date giving: $3,726,254.93
• Previous year to date total: $4,182,892.91
• Above/below previous year: $456,637.98 (10.92 percent) below the previous year

The Convention-adopted budget for 2024-2025 is $190,250,000 and includes a $250,000 special priority allocation for the SBC Vision 2025 initiative.

Cooperative Program funds are then disbursed as follows:

• 50.41 percent to international missions through the International Mission Board
• 22.79 percent to North American missions through the North American Mission Board
• 22.16 percent to theological education through the six SBC seminaries and the Southern Baptist Historical Library and Archives
• 2.99 percent to the SBC operating budget
• 1.65 percent to the Ethics & Religious Liberty Commission.

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.