Update from Finance & Planning

Steady as she goes

By Ronald Kelly

Last month I reported that our income from February through May had been holding steady at our projected targets. I’m delighted to report that donations for June have also remained at or above our estimates.

Even if we do not take into consideration the cash infusion from the Orr campus sale, our total income for the first half of the year falls just short of one percent above the same period last year. I really enjoy using the word above even if the increase is not quite one percent. It is certainly more pleasant than the word decrease.

As we have reported in previous issues of the WN, PTM has been able to build its ministry base and beginning next year will no longer receive funding for services they have been providing for the WCG. Even this year, they have been able to operate with reduced funding. Also, as you may have noticed, the church will be unable to continue paying WCG member subscriptions as we have been doing for the past several years. Beginning with the January issue, only those who pay for a subscription will receive the magazine. I certainly hope each of you will consider taking out your own subscription and help advance the work of the magazine.

Future conferences will be in Davenport, Iowa, in September, northern New Jersey in November, and Orlando, Florida, in December. If you live close to one of these conferences, we hope you’ll be able to attend. You’ll enjoy a wonderful weekend of worship and inspiration.

Because PTM is a ministry in its own right, we no longer calculate their funds in our Worldwide Church of God donations. However, financial figures from the previous year include the combined donations of the church and PTM. So beginning this month, when I report church income, the amounts will not reflect direct donations to PTM as they have in the past.

If you were to carefully compare the figures this year with those from last year, you would have to subtract PTM income from the 2001 numbers. But since we didn’t keep separate records then, those numbers would be difficult to separate now.

With that in mind, contributions received by the church in June were just over $1.6 million. Contributions for the year have passed through the $9.6 million level. Factoring in all sources of income, we received $1.8 million for June and $13.8 for the first six months of the year (that includes the funds from the Orr sale).

Bernie Schnippert, church treasurer, and his staff are in the final stages of interviewing and selecting a master developer for the Pasadena campus sale. They have also had meetings with a number of the potential subdevelopers, our consulting firms, city officials and neighborhood associations.

Needless to say, they are putting in long days with intensive planning sessions. Work is already under way to submit an updated version of the Environmental Impact Report (EIR). These issues can be time consuming, but we are doing everything we can to keep this project on track for city review as quickly as possible. It’s just that quickly is a subjective word that cannot have specific time limitations put on it.

We pray regularly for all of our dedicated church members. The joy of our transformation seems to be growing rapidly. We hear from so many of you that you are experiencing increasing spiritual renewal and you express your love and appreciation for those who work in the ministry and administration of the church. We are so encouraged by your prayerful support.

Statement of Income and Expenses for
WCG for May 2002

                                                            For the Month                 For the Year-to-Date

Income

    Mail Income                                         $ 1,651,000                             $ 9,682,000

    Other income                                             198,000                                1,387,000

            Subtotal                                          1,849,000                              11,069,000

    Gain on sale of SEP Orr                                     $ 0                             $ 1,336,000

    Income from Legacy

    deposit forfeiture                                                   0                               1,439,000

            Subtotal                                                         0                               2,775,000

            Total income                                     1,849,000                             13,844,000

Expenses                                                      2,425,000                              14,866,000

Net gain (loss) to bank reserves               $ (576,000)                            $ (1,022,000)

 

Wills and trusts

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 to Legal Office, Worldwide Church of God, Box 111, Pasadena, California, 91123.

Copyright © Worldwide Church of God, 2002