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Southern Baptist Foundation gives 10% to Cooperative Program

Southern Baptist Foundation President Warren Peek (left) gives 10 percent of the SBF’s 2021 net profits to the Southern Baptist Cooperative Program, accepted here by Willie McLaurin, president and CEO of the Southern Baptist Convention Executive Committee.

NASHVILLE (BP) – The Southern Baptist Foundation gave nearly $117,000 to the Southern Baptist Cooperative Program Friday (Feb. 4), continuing the foundation’s tradition of giving 10 percent of net profits annually to the CP.

“We strongly believe in the work of the Cooperative Program and want to be an example for giving,” SBF President Warren Peek said. “Our ministry partners are out there each day winning people to Christ. Giving to the Cooperative Program is one way we can support and encourage them.”

The gift comes as the SBF, founded in 1947, celebrates its 75th anniversary.

“Believers stepped out in faith 75 years ago to establish the foundation to help manage and distribute donations that strengthen Southern Baptist ministries like the Cooperative Program,” Peek said. “We count it a privilege and a joy to serve God and all Southern Baptists.”

Willie McLaurin, interim SBC Executive Committee President and CEO, commended the SBF for the gift.

“The gift received from the Southern Baptist Foundation places an exclamation point on collaborative partnerships, cooperation and generosity” McLaurin said. “The SBF partners with individuals, churches, associations and state conventions to invest resources for God’s Kingdom.”

The gift will speed Kingdom work, McLaurin said.

“This gift is vitally important because it will fuel Gospel advance in our nations and neighborhoods,” he said. “The CP gift will be distributed to Southern Baptist entities as affirmed by messengers through the Cooperative Program Allocation budget. Our local and global impact will be accelerated because of this Great Commission generosity. I am incredibly thankful for Warren Peek and his team for faithfully serving Southern Baptists well.”

The check for $116,963.39 brings to nearly $400,000 the total amount SBF has given to the CP since beginning the set-aside in 2014, Peek said. The SBF sets aside an additional 10 percent of net profits annually to provide free estate planning for missionaries and has given more than $900,000 combined to the CP and estate planning for missionaries since the latter program began in 2013, he said.

Peek is thankful for the SBF’s many opportunities to support Kingdom work during its 75 years, and is celebrating its legacy by performing 75 service projects and special events in 2022.

“There have been – and continue to be – many opportunities for Kingdom impact. God has richly blessed the foundation and we’ve had some tremendous accomplishments over the years,” Peek said. “Since its humble beginnings in February 1947 with total assets of $25,000, the foundation has grown to managing over $600 million. Since inception, the SBF has distributed over $5.5 billion to further God’s Kingdom and, since 2013, approximately $540 million in future estate planning gifts have been generated. Over the past five years, the plan of salvation has been shared over 6,500 times through our website.”

The SBF, with offices at the SBC building in Nashville, handles estate planning and investments for individuals, churches, ministries and other organizations. Its website offers free informational resources for financial planning and charitable giving.

“We have set a vision for the future that will not only continue to honor God and serve others but will further inspire believers to make an eternal impact for the Kingdom,” Peek said.

The SBF is honoring its past and embracing its future, Peek said, applauding such former leaders as Duke McCall, Charles Bolton, Luther Holcomb, James Storer, Kendall Berry, Hollis Johnson, and Mike Weeks. Peek also noted “dedicated and caring” former employees, including Willie Earl Adams, Peggy Armstrong, Joe Lena Bond, Christine Bess, Betty Libby, Dimple Miller, Judy Garner, Joyce Lambert, Barbara Black and Faye Albright, among others.

“Our current team members continue to carry the baton forward as we plan for the future,” Peek said. “As the eighth president … it is a privilege to build on the dedication of these faithful men and women who shaped the foundation into what it is today.”