Stewardship and Finance
Last year, 2019, was a good year for our church’s finances.
On the giving side, general offerings were up substantially from 2019, and included substantial online giving and gifts of securities. As you plan your 2020 giving, remember you can give appreciated securities and required minimum distributions from your IRAs directly to the church and often receive considerable tax advantages, especially if using the Standard Deduction in the latter case.
Designated offerings also were strong, including an anonymous gift toward enhancing the church’s website, and strong designated giving toward the three main mission offerings, toward Capital Improvement (in addition to the $25K included for this purpose in the 2019 budget), and toward the Christmas staff love offering.
Combined with lower expenses, these offerings gave us a large surplus last year, and, 2020 giving is off to a very good start…..keep up the good work!
As we are not in the business of building up surpluses, we have put in place an ambitious 2020 budget of $704K that likely will fully spend anticipated 2020 offerings. The $704K 2020 total budget figure is the same as in 2019 but, because there are no mortgage payments, a much greater portion of budgeted expenditures will go much more directly to ministries. For example, sharp increases in allocations for Capital Improvement and many organization and committee ministries are included in 2020 budget.
In addition, the 2020 budget includes a New Initiatives Account, which provides a pool of funds that can be applied for to initiate new ministries. Dawnings already has made use of the account, but substantial funds remain in it for other uses, and we hope to get several applications for its use. And you are reminded that our church has an Endowment Fund to receive gifts to support ministries on an ongoing basis over many years. For further information, contact Tom Powers, Chair of Endowment Committee.
The Stewardship and Finance Committee appreciates the generous contributions you made during 2019 and is hopeful they continue at that or higher levels this year. There is much Lord’s work that remains to be done through our church, and we want the doing of that work to be fully financially resourced.