Southern Baptist Convention continues statistical decline, Floyd calls for rethinking ACP process
NASHVILLE (BP) -- For the 13th consecutive year, the Southern Baptist Convention reported a drop in its membership. Total membership in the Southern Baptist Convention fell almost 2 percent to 14,525,579 from 2018 to 2019. The decline of 287,655 members is the largest single-year drop in more than 100 years.
TRUSTEES: Gateway board approves slight budget cuts, participation in Paycheck Protection Program
ONTARIO, Calif. (BP) -- In its spring meeting, Gateway Seminary's Board of Trustees approved a 2020-21 budget of $11,500,000 -- 2.1 percent less than in 2019-20 -- and authorized the seminary's participation in the federal Paycheck Protection Program. The budget, approved during the virtual meeting Tuesday (April 28), reflects a $250,000 reduction from the 2019-20 operating budget of $11,750,000 and a 3.8 percent reduction from the original budget proposal for 2020-21 ($11,950,000).
LifeWay announces budget cuts and staff reductions amid COVID-19
NASHVILLE (BP) -- In response to a sudden and steep decline in revenue and amid uncertainty over the near future, LifeWay Christian Resources announced plans for budget cuts of $25-30 million -- approximately 10 percent of its budget -- including spending freezes and staff layoffs. LifeWay CEO Ben Mandrell said the cuts were necessary because of the onset of an economic crisis prompted by the COVID-19 pandemic.