By Diana Chandler
NASHVILLE — Decreased giving during the COVID-19 pandemic led the Southern Baptist Convention Executive Committee to adopt a Cooperative Program Allocation Budget Tuesday (Sept. 22) that is 5 percent less than the committee projected last February.
During a special called meeting, the Executive Committee adopted a $186,875,000 CP allocation budget for the 2020-2021 fiscal year, which begins Oct. 1, after originally proposing a budget of $197,700,000.
Approval of the CP allocation budget would have been considered by messengers at the 2020 SBC Annual Meeting, but its adoption became the EC’s responsibility when the annual meeting was canceled because of the pandemic. It was the first time in 75 years – since 1945, when the annual meeting was also canceled – the EC had the responsibility.
Amid the economic slowdown resulting from the pandemic, CP giving was down 2.92 percent in the third quarter of the current fiscal year, and 1.14 percent below budget as of August 31 for the entire year. [Read more…]