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119 chapter 9 ———————TheClaudeConeEra:1985to1995 The declining years of the O’Brien era foreshadowed a change in the fortunes of Southern Baptists in New Mexico. The evangelical wave of the 1970s stalled in the early 1980s. A new time of trial awaited the convention. Unaware of what was about to happen, Claude Cone assumed the directorship on March 1, 1985. At the first State Executive Board meeting of his tenure, Cone revealed his areas of interest and concern: more support for the Cooperative Program; increased state staff salaries; more pastors in the denomination’s annuity program; expansion of the hospitalization and retirement programs for convention employees; and address the institutional needs of the Children’s Home, the camps, and the debt on the Baptist Building.1 Financial Concerns Immediately upon assuming the directorship, Cone faced a problem that burdened him throughout his tenure: a shortage of operating capital. A report by the business manager, Ted Roberts, on the proposed budget for 1986 made four suggestions: freeze salaries at the present level, have the convention assume the employees’ part of the medical insurance, cut program levels by 10 percent, and keep the budget the same as 1985. The reason for these stringent measures was that even though giving exceeded 1984 by more than $142,000, it fell 4 percent below the funds necessary to operate the convention’s programs.2 This pattern of new budget records, yet the inability to meet projected needs, continued throughout the Cone administration. For the first time, in 1990, the Baptist Convention of New Mexico (BCNM) scaled back its Cooperative Program goal. Receipts still fell short, although they exceeded the 1989 figures. The following year, 1991, was a time of crisis. The convention operated at 93 percent of budget, but still 6 percent above income. At the same time, a number of capital projects demanded attention. The BSU in Albuquerque required $60,000 for improvement of its facilities. Sivells Camp needed the same amount. Mission New Mexico required $48,000 for land and staff.3 According to the business manager, Francis Wilson, income set back from 120 previous years kept BCNM on a sound financial footing. In 1995, the largest budget in history was projected. Giving in the early months, however, forced the divisions to operate at 90 percent. Income did increase and the fiscal year ended in the black, but the denomination still needed an additional $157,345.4 This continued pattern of record giving, with receipts remaining below projections, hampered the development of new work. Preoccupation with the financial integrity of the convention inhibited its outreach programs. Besides the problem of budget shortfalls, several specific financial concerns required attention. The note on the Baptist Building proved to be the primary concern. In 1985, the convention’s debt for this facility totaled $357,607.84. Refinancing the loan provided some relief. The interest rate dropped from 14.5 percent to 11.5 percent, thus saving the convention $28,800 per year in interest. Also, during this same year, the denomination was able to make a $100,000 lump-sum payment against its obligation. A special statewide mission offering to retire the debt took place in 1986. The $206,007.79 collected was the largest ever received. It enabled the BCNM to pay off the building seven years ahead of schedule, saving $84,000 in interest and removing an annual payment of $68,000.5 Success in retiring the building debt ahead of schedule amidst financial difficulties led the executive director to tackle yet another area of concern. Cone sought to increase church involvement in the Southern Baptist Convention’s (SBC) annuity program. Figures from 1986 revealed very few participants. The BCNM had paid only $40,143 to the Annuity Board. Under Cone’s leadership, that figure more than doubled; by 1990, 46 percent of church staff was covered. Numbers continued to rise so that by 1995, 288 pastors and staff members were enrolled from 155 churches, accounting for 72 percent of those eligible for this type of coverage. Reaching this level made New Mexico first in its region, and fourth in the denomination; nationally, the average was 55 percent.6 Coping with budget shortfalls and debt on the Baptist Building were not the only problems facing the convention. In 1986, another financial crisis occurred. Gas wells owned by the Children’s Home began to go dry. The home’s operational income dropped by $75,000 to $100,000 a year. Compounding the financial problem, that...

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