By Ronald
KellyBy Ronald
Kelly
The first third of 2000 is history, and here are some facts and figures regarding the finances of the church so far.
But first a comment on how we project and budget income. Special offerings are a significant part of the financial planning of the church, making up about 15 percent of donation income. Most of our congregations collect these offerings at worship services during the seasonal festivals commencing in the spring as we celebrate the death and resurrection of our Lord and Savior.
Some of our congregations designate a specific worship service each month as their special offering day, and do not attach the offerings to a season. We appreciate the generous and willing spirit so many of you exhibit no matter when your congregation chooses to collect offerings.
As we tabulate the offerings, we can have a variance as we compare income this year to last. That's because the time of the spring festival can fluctuate from one year to the next. In 1999 the spring festival was early in April, while in 2000 it was late in April, meaning the funds were not banked until May. Thus income for April was lower in 2000 than in 1999.
Total income for April was $2,154,004 this year--down more than $1 million from last year. Of course these negative figures are not pleasant, but considering that special offerings were not yet counted this year, we have to wait through May for the comparisons to catch up.
Total income for January through April is $8,770,115. For the same period last year, income was $9,715,981, so income is down about 10 percent this year.
Last month we reported the sale of the Big Sandy campus. That sale has now been completed with the sale of the radio tower and station. Additional signatures were required for the sale of the radio tower, so extra time was required to complete the transaction.
Legacy Partners continues on track to complete the purchase of the Pasadena property by the end of the year. Legacy conducted another public meeting May 2 to update the community on developing plans for the property, which is one of the most significant development projects in Pasadena for many years. Additional public hearings are scheduled during the summer and fall.
Our search team is viewing prospective office facilities to relocate the headquarters operations of the church here in Southern California. We would appreciate your prayers for finding the best possible building at the best possible price to lease or purchase. In addition the four congregations that meet on our Pasadena property are looking for new meeting facilities. They also would appreciate your prayers.
All of you are in our prayers regularly. We are thankful for your love and dedication to the work God has called us to do as we proclaim the gospel to the world and serve the hundreds of congregations in our fellowship.
Statement of Income and Expenses for WCG and PTM combined for April 2000
For the Month For the Year-to-Date
Income
Donation Income $ 1,696,601 $ 6,989,470
Other income 457,403 1,780,645
Total income 2,154,004 8,770,115
Expenses 3,576,333 11,805,773
Net loss to bank reserves $(1,422,329) $ (3,035,658)
Copyright © Worldwide Church of God, 2000