Many of you are already aware that Ronnie Floyd is a trustee at Guidestone Financial Resources of the Southern Baptist Convention. You are probably also aware that Floyd’s churches, First Baptist Springdale-Pinnacle Hills, etc, contributed a meager $32,000.00 to the Cooperative Program through the Arkansas Baptist State Convention last year. And you’ve probably been told about the .27% giving.
But were you aware that Ronnie’s church, because it participates in the Arkansas Baptist Convention, even though its a meager $32,000.00 per year, divided according to the ABC budget, that his church RECEIVED $22,000.00 last year from the Arkansas Baptist Convention in matching annuity contributions for its staff?
That’s right. Small churches all across the state of Arkansas are subsidizing Ronnie Floyd‘s retirement fund.
*UPDATE*
I have just received these figures to further clarify the issue of the matching funds annuity.
First Baptist Sprindale/Pinnacle Hills contributed $32,000.00 to Cooperative Program through the Arkansas Baptist State Convention, constituting the abysmal .27% we all know about. What we didn’t know was that the Arkansas Baptist Convention’s allocation budget divides all receipts according to a 58.23/41.77 split between the state convention causes and the Southern Baptist Convention. Out of that 58.23%, the Arkansas Baptist Convention matches annuity contributions for clergy and staff of its member churches who participate with Guidestone Financial Resources. So once you divde the $32,000.00 according to the conventions allocation budget, First Baptist Sprindale-Pinnacle Hills actually contributed $18,633.60 to ministries and causes of the Arkansas Baptist Convention. From the convention, however, First Baptist Sprindale-Pinnacle Hills received $22,000.00 in matching annuity funds for its ministry staff. So basically, the Arkansas Baptist Convention provides almost $3500 in retirement subsidies for the largest church in its convention. Of course, the subsidy is paid by the smallest churches in the convention.
Just facts. No commentary. You do the math and ask the questions.
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