NASHVILLE, Tenn. (BP)–Calling the Southern Baptist Convention’s fiscal year 1998-99 “another extraordinary year” and a “year of abundant blessings,” Morris H. Chapman, president and chief executive officer of the SBC Executive Committee announced the final distribution to SBC agencies of the year’s CP gifts.
“The Executive Committee received and distributed $167,996,385 [during 1998-99], surpassing last year [1997-98] by $8.41 million and our Cooperative Program Allocation Budget by $12.99 million,” Chapman said in an Oct. 9 letter to SBC agency leaders.
CP gifts for the year were over the budgeted amount, allowing the final distribution of the 10-year (1990-2000) Capital Needs Budget of $3.1 million to be completed a year ahead of schedule. Also, an additional $9,839,142 was distributed to Ministry Advance to the SBC entities, according to the CP distribution percentage, Chapman reported.
“Southern Baptists continue to be faithful stewards,” Chapman said.
The final tally for the 1998-99 year: International Mission Board, $82,422,433 (basic allocation $77,502,862, ministry advance $4,919,571); North American Mission Board, $38,176,282 (basic $35,325,804, ministry advance $2,242,340, capital needs $608,138); Ethics & Religious Liberty Commission, $2,456,188 (basic $2,309,585, ministry advance $146,603); Historical Library, $395,627 (basic $372,014, ministry advance $23,613); Convention Operating Budget, $5,472,849 (basic $5,146,190, ministry advance $326,659); Annuity Board, $1,252,820 (basic $1,178,043, ministry advance $74,777).
Also: Southwestern Seminary, $10,625,454 (basic $9,461,108, ministry advance $600,553, capital needs $563,793); Southern Seminary, $7,213,401 (basic $6,336,173, ministry advance $402,194, capital needs $475,034); New Orleans Seminary, $6,960,194 (basic $6,133,955, ministry advance $389,358, capital needs $436,881); Southeastern Seminary, $6,060,599 (basic $5,400,008, ministry advance $342,770, capital needs $317,821); Golden Gate Seminary, $3,650,488 (basic $3,091,091, ministry advance $196,210, capital needs $363,187); Midwestern Seminary, $3,310,044 (basic $2,748,890, ministry advance $174,488, capital needs $386,666).
Lifeway Christian Resources, the former Baptist Sunday School Board, does not receive Cooperative Program funds from the SBC, nor does the SBC auxiliary Woman’s Missionary Union.
