RICHMOND, Va. -- The Baptist General Association of Virginia ended the first quarter of 2011 with almost 8 percent fewer contributions from affiliated churches than in 2010, a financial officer reported April 12.

Congregations gave $2,667,089 to Cooperative Missions between Jan. 4 and March 31, associate executive director and assistant treasurer Walter Harrow told members of the Virginia Baptist Mission Board at their spring meeting.

That figure is $226,216, or 7.82 percent, less than the $2,893,305 in CM receipts during the same period last year, said Harrow, who reported on behalf of treasurer Eddie Stratton.

Total contributions -- which include designated gifts and mission offerings -- in the first three months of 2011 were $4,894,674, compared to $5,361,141 in the first quarter of 2010.

This year’s BGAV budget goal is $13,350,000, a sharp drop from the $14 million budget goal adopted in 2010. But contributions last year fell short of the goal by more than $1.1 million, reaching a total of $12,840,572.

Harrow said that more than half -- 51.37 percent -- of 2010’s CM contributions came from 100 of the BGAV’s 1,428 affiliated congregations. Those top giving churches contributed $6,555,653.

Harrow also reported that the Baptist Extension Board, which offers mortgage loans to churches unable to secure commercial financing, currently maintains 73 active loans for a total of $15,529,193. He said the board has about $3.3 million available to lend, at an interest rate of 4.5 percent.

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