By Ronald KellyBy Ronald Kelly
Our 2000 financial year is underway, and I can give details for January income and expenses.
We have adjusted our 2000 donation income expectations to average $82,668 each banking day. Because income fluctuates from month to month, we project variations on that amount.
The January projection was for a donation income of just more than $80,000. We are happy to report that the month closed with a daily average of $84,655. The total January regular donation income was $1,439,142. So a big thank you for helping get our year off to a positive start.
The income for the year is running about four percent less than 1999. And while we yearn for the day that income increases, we are thankful that the decrease is relatively small (especially when compared to four or five years ago).
On the flip side, January was a high expense month. Taxes for the previous year were due, and we had to pay a fairly hefty tax bill on our Big Sandy property.
When Ambassador University was in operation, we paid virtually no taxes on the campus because it was used for educational purposes. But when we closed the university, the property immediately became a taxable possession. Certain insurance payments were also due in January, and we had a financial responsibility to make a substantial payment for one of our international offices.
These payments put a dent in our reserve fund, but we hope that continued first quarter donations and special offerings given each spring will build the reserve fund back up to an appropriate level.
We are moving forward with plans to offer the Ambassador University campus for sale at auction. Present plans call for the auction to take place April 4. Please place this important event high on your prayer list.
We so much appreciate your prayers and your generous financial support. And we pray that 2000 is off to a good start for each of you.
For the Month For the Year-to-Date
Income
Donation Income $ 1,527,011 $ 1,527,011
Other income 230,741 230,741
Total income $ 1,757,752 $ 1,757,752
Expenses 2,537,919 2,537,919
Net loss to bank reserves in 2000 $ (780,167)
Many members have requested information on how best to make a gift to the Worldwide Church of God, either during their lifetime or upon death, through wills, trusts or other means.
If you want to receive information regarding such gifts, the Legal Department of the church is available to aid you in this regard without cost or obligation. Please write Legal Office, Worldwide Church of God, Box 111, Pasadena, California, 91123.
The Legal Department regrets that, because of the variance in laws of other countries, such legal information is only applicable to residents of the United States and Canada. However, in regard to other countries, the Legal Department will furnish whatever limited information it may have available.
Copyright © Worldwide Church of God, 2000