By Ronald
Kelly
By Ronald
Kelly
For the first time in a long time, we are excited to report that first quarter donations for 2000 are on the positive side of the ledger.
That means more donation income was received than during the same period of 1999. Thank you so much for your generous support. The steady donation pattern we are experiencing so far this year is quite encouraging. Keep up the good work.
As reported in this issue of the WN, our Ambassador University campus in Texas has closed escrow, and the sale is complete. Needless to say, we are all thankful to God for blessing us with this sale.
Our dwindling reserve fund has now been brought back to a more acceptable level. So, the campus sale has not made additional funding of church programs possible. But to have the pressure on our reserves relieved a bit is a blessing for those of us in the Finance & Planning departments.
We had calculated using $6 million from the reserve fund so we would not have to more dramatically downsize our ministries. Even with the sale of Big Sandy, we are still projected to spend $6 million more than expected income. It does mean, however, that the reserves at the end of 2000 will be near the same level as at the end of 1999.
The $6 million deficit is so we don't have to cut ministers and other employees while the Pasadena property is in escrow with an expectation of a sale this year. We are sacrificing to keep the churches supported.
We do hope you understand that the Big Sandy sale did not provide a giant windfall. We do not have additional funds for new things. And we still anxiously await the completion of the Pasadena property sale later this year.
So our financial requirements remain a high priority. And you know what? They always will. The work of the church in society will always require good stewardship on the part of all of us who are privileged to support the proclamation of the gospel throughout the world.
As we closed the month of March, we had a total income of $2.9 million vs. expenses of just over $3 million You can see from the accompanying chart that the year-to-date income for the first quarter was $6.6 million against expenses of $8.2 million. So we have spent about $1.6 million more than income.
If that trend continues, we will, as mentioned above, spend some $6 million more than income before the end of the year.
Our department managers are doing all they can to keep expenses at a minimum, yet sufficient to accomplish the work we have planned for them to do. Please keep these dedicated men and women in your prayers.
By the time you get this issue, we will have passed through the spring festival season. And in the next issue you'll be reading about the activities of the church and the special offerings of the joyous season of the resurrection of our Lord.
We pray for all of you. You are special people growing in the grace and knowledge of our Savior.
For the Month For the Year-to-Date
Income
Donation Income $ 1,969,734 $ 5,292,871
Other income 1,023,194 1,323,240
Total income 2,992,928 6,616,111
Expenses 3,051,411 8,229,441
Net loss to bank reserves $(58,483) $ (1,613,330)
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