Our department is responsible for the financial transactions of the Mississippi Baptist Convention Board (MBCB). During 2020 Mississippi Baptists continued their historical pattern of generosity in financial support of missions as evidenced by our processing over $58 million given for mission efforts around the world.
We have internal controls in place to insure that each gift is properly recorded and appropriately distributed. Among the controls related to the receipt of gifts are separation of duties of the personnel handling cash, verification of gift amounts and gift designations, and monthly acknowledgements to donors. A list of Cooperative Program gifts from each church is made available monthly through the below link.
Distribution of funds is determined by the type of gift received. Designated gifts are distributed according to donor instructions. Cooperative Program (CP) gifts are distributed according to the CP budget. During 2020 approximately 12,500 checks and electronic payments were processed to disburse mission funds, pay vendors, and provide the services necessary for the ministries of the MBCB. Each year the financial records of the MBCB are audited. A copy of the audited financial statements are included in both the book of reports and the convention annual.
The CP budget approval process begins when each MBCB department submits their budget request to Financial Services. We compile the requests and provide them to MBCB administration for review. Once approved by administration, those requests are part of a presentation to the Board’s Budget Committee that also includes budget requests from our institutions and agencies. A recommended budget from the Budget Committee must be approved by the Executive Committee, the full 100 member Board, and then voted on by messengers to the annual convention.
Personnel responsibilities involve the coordination of salary and benefits for employees and benefits for retirees. MBCB has approximately 90 full-time employees, 120 part-time employees (including summer staff at our camps), and 115 retirees. General business responsibilities include the maintenance of property and casualty insurance coverage, financial reporting, and our telecommunications systems.
We can assist churches with planning of staff compensation packages and can provide information on employee insurance and retirement benefits offered by GuideStone Financial Resources.
A resource now available to your church is the 2018 Compensation (2018 SBC Compensation Study). State conventions participated in providing information concerning staff salaries, benefits, and reimbursements. LifeWay Christian Resources and GuideStone Financial Resources compiled the data that provides an insight to assist churches in maintaining adequate compensation. In order to get the most accurate data, choose the “Customized Report” option. Contact Tim Ruth for information on these services.
CP Gifts March 2021