Update from Finance & Planning

May income mirrors
first four months of year

By Ronald Kelly

At the risk of sounding like a broken record, the financial report for May could well be lifted out of any number of previous months. Mail income was just short of $1.7 million—a decrease of about 12 percent from last May. Combined mail income for January through May was $7.5 million—a decrease of 11.5 percent compared to the previous year.

However, the festival or seasonal offerings this year have been better than our projections. As I write, we are only beginning to count the Pentecost season offerings, so they will be included next time. Special offerings for the year have now topped $1.5 million. So when we combine festival offerings and mail income, then add in other sources of revenue such as estate donations, auction revenue, Legacy Partner extension payments and co-worker donations, our total income is down six percent from last year.

We are doing what we can to keep our expenses at a minimum, but the impact to our reserve fund for the first five months of this year is a negative $2 million.

On a more sobering note, it now looks as though Legacy Partners will have to extend escrow through the remainder of this year. Any delays in the process are of course a bit discouraging. However, factors such as city planning issues, affordable housing, density of the development, traffic mitigation and many other concerns take considerably more time than one might think.

These delays have a major impact on our budget in that our budget plan called for escrow to close by June. As we have reported before, extending escrow produces a negative impact on our budget.

On the brighter side of news about the church, our district conferences have been encouraging. I urge you to attend the conference nearest you if you can. These conferences are wonderful weekends of uplifting worship music, inspiring messages, instructional lectures and outstanding fellowship. So if you live within a day’s drive of one of our coming conferences: Denver, Colorado; Athens, Ohio; or Dallas, Texas; why not set aside time to attend?

The fall festival season also affords an opportunity to gather with hundreds of fellow Christians. Six sites are scattered across the United States. And don’t forget the specialty sites—the Caribbean cruise and the group tour to Turkey.

The cruise is popular and may be filled by the time you receive this. But if you’ve always wanted to travel to biblically significant lands, the tour of Turkey will be a lifetime highlight. Space is available in this group tour. If interested in either of these festival groups, please call John Siston at Travel Gallery at 1-800-858-6999.

And of course we have weekly services at 450 U.S. church sites. Remember the biblical admonition to not forsake the assembling of yourselves together. Meeting in worship is one of the most important aspects of Christian living. It is not only a time to receive inspiration and instruction, but to positively contribute to the work of your church. Each member is important.

Statement of Income and Expenses for

WCG and PTM combined for May 2001

                                                                For the Month         For the Year-to-Date

Income

    Mail Income                                               $ 1,677,000             $ 7,518,000

    Festival offerings                                             476,000                1,515,000

    Other income                                                   832,000                2,203,000

        Total income                                             2,985,000               11,236,000

Expenses                                                           3,031,000               13,302,000

Net gain (loss) to bank reserves                          $ (46,000)            $ (2,066,000)

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, 2001