Stewardship and Finance
Stewardship and Finance Report 2018 Results and 2019 Prospects
Review of 2018
- General Fund giving fell last year to $643K from $676K in 2017, while General Fund spending rose from $639K to $688K, leading to a $45K deficit (see table for details). Analysis indicates the giving drop was primarily due to attendance declines, with giving per worship service attender actually rising.
- The Hospitality Center mortgage was paid off, in part a result of nearly $400K in designated gifts toward that purpose over the past few years, including the extremely generous $250K anonymous gift last month that “pushed us over the hump”.
- Three other anonymous gifts made possible the refurbishment of the Bridal Room, defrayed the costs of upgrades to security system, and are allowing enhancements to Library.
- Designated gifts such as Mission gifts (Annie Armstrong, Alma Hunt, Lottie Moon, etc.), staff love offering, and other designated giving exceeded 2017 totals.
- Wednesday Night Supper and Learning Center accounts posted surpluses.
- Stewardship and Finance Committee sponsored, and two SFC members led, a Financial Peace University course attended by some 12 people, representing both church and community families.
- The bi-annual Audit mandated in our By-Laws was completed with a good report.
- Online giving rose from 186 transactions / $42K in gifts in 2017 to 286 transactions / $58K in gifts in 2018.
- About $20K in stock/security gifts occurred, and direct giving from individuals’ IRAs was initiated.
- Regular stewardship/finance articles were placed in Criers and Sunday Bulletins.
- A Stewardship and Finance section on the Ministry Wall was established.
Prospects for 2019
The Stewardship and Finance Committee plans to wait until mid-year, if not later, to see how 2019 giving is going before considering committing to other uses any of the $68K budget windfall from paying off the mortgage. Based on last fall’s pledge results and recent giving trends, 2019 giving could be lower than in 2018 which, when combined with the $704K budget for 2019, could well cause most of the windfall being needed to prevent another deficit.
Table: 2018 Giving and Spending Highlights (with comparisons to 2017, $thousands)
|General Fund Giving||675.8||642.8|
|General Fund Spending||639||688.7|
|General Fund Balance||36.8||-45.9|
|Mortgage Reduction Giving||58||292.1|
|Designated Missions Giving||8.9||9.8|
|Other Designated Giving||6.9||12.7|
|Balances of Learning Center and Wednesday Supper Accounts||11.8||5.3|
|On Line Giving ($/transactions)||$42.4K/186||$58.0K/286|