ATLANTA — The Cooperative Baptist Fellowship (CBF) finished its 2003–04 fiscal year June 30 with revenues of $24.26 million, the highest-ever annual total. The record included undesignated contributions of $8,869,883, designated gifts of $8,709,160, and a global missions offering of $5,738,222 — each one an all-time high.
“This is a remarkable financial report,” Setzer told members of the CBF’s Coordinating Council during its Oct. 14–15 meeting in Atlanta. The Fellowship spent $19.6 million of that revenue during the fiscal year and was left with a revenue overage of $4.7 million, most of which is designated for global missions. However, the undesignated contributions — which fund partner organizations such as seminaries and CBF’s own non-missions programs — were $136,876 below budget expectations. Cost-cutting allowed the Fellowship to end the year with revenues $5,845 above expenses, however — finishing in the black for the first time in three years, the council was told.
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