Budget
CBFNC is grateful for the faithful, generous support of our Fellowship. Though we still live in the shadow of a global pandemic that is now three years old, CBFNC, partner churches and ministry partners have resumed a full schedule of ministries.
The 2023–2024 Mission and Ministry Funding Plan (MMFP) is noteworthy for several reasons:
Five Years – The MMFP, which combined CBFNC’s Operating Budget and Mission Resource Plan, was started in 2019–2020. 2023–2024 will be the fifth year of this approach to budgeting. This approach has brought more uniformity and clarity to CBFNC’s financial operations. As we reach the five-year mark, the Coordinating Council will conduct an assessment of this structure to ensure its effectiveness for the future.
Prudent Management – The 2023–2024 MMFP is 3% less than the previous year. Though our nation has experienced significant price inflation for two years, CBFNC continues, through prudent management, to provide effective ministry in a challenging financial environment.
Sources of Income – Churches still supply a significant majority of CBFNC’s income. The impact of the pandemic, as well as other factors, has caused some churches to reduce giving to CBFNC. CBFNC has been successful at growing other sources of income, including individuals, grants, investment earnings, sponsorships and fees. As we celebrate CBFNC’s 30th Anniversary in 2024, we will need to diversify sources of income even more in order to thrive as a Fellowship in the future.
Partners – CBFNC is the largest single funder of partners in the entire CBF network. If the 2023–2024 MMFP is fully funded, over $1,000,000, or approximately 40% of the total, will support ministry partners.
Personnel – CBFNC staff costs, which are primarily ministry expenses, are only 30% of the total budget.
The MMFP was approved during the Annual Business Meeting of the CBFNC Annual Gathering on March 24, 2023.
Click HERE to view the 2023–2024 Mission and Ministry Funding Plan.
