Lean Days for the BGAV

by T. C. Pinckney                                                                                      Vol. XVI, No. 6, June/July 2004

The 27 May issue of The Religious Herald carried an article, “Virginia Baptist Mission Board’s executive committee examines audit”. The following facts and figures are from that article.

The lead paragraph notes that over the last twenty years the VBMB has spent $4,292,103 more than it has taken in, a deficit larger than previously thought. According to the report, the deficit was not a result of any illegal or improper actions, but rather because the Board could draw on numerous reserve funds to sustain its operations and spending was not reduced as receipts fell.

One paragraph is particularly striking: “From 1946 to 1990 the BGAV’s Cooperative Program receipts grew every year. Since 1990, however, they have declined all but four years. Last year’s receipts of $14,015,985 were the lowest since 1987.”

To counteract decreasing receipts, in December 2002 the VBMB eliminated 18 jobs, reducing annual operating expenses by $500,000. In April 2003 the Board approved repaying the $800,000 drawn from its reserve accounts with $54,000 annually over the next 15 years. And last April a property study committee was established to examine all BGAV properties, camps, and conference centers to recommend whether any should be liquidated.