Financial and Generosity Reports — February 2024

Financial Report

by Barbara Strobel, parishioner and treasurer of the church

Thanks be to God and to our generous parishioners for the wonderful 2023 financial blessings –– we are both thrilled and grateful! Our revenues exceeded our expenses by $912K. Of that, our offerings exceeded budget by $388K, we had significant interest income, and expenses were below budget due to filling several open staff positions later than anticipated. While that is outstanding, in 2024 we do not anticipate expenses to be under budget nor will interest income be as high. Everyone’s gifts, large and small, are needed this year! 2021-2023 blessings allowed us to establish/increase the Maintenance Reserve fund to $2.3M and the New Ministry
Initiative fund to $1.3M. This was outstanding progress in 3 years, but still lower than we would like with the age of our facilities and funds needed for our strategic vision. This year we will begin using our New Ministry Initiative fund. 2024 is the last year of the generous Nau match, so in 2025 we will need $600K more in offerings just to continue our ministry as is, plus more to fund our strategic initiatives.

As of December 31, 2023:

% of total revenue to budget 

• YTD Revenue is 106% of the 2023 Revenue Budget
• YTD Revenue $9,156,597; YTD 2023 Budgeted Revenue $8,608,275

% of total expenses to budget

• YTD Expenses: 96% of the 2023 Expense Budget
• YTD Expenses: $8,244,763; 2023 Budgeted Expenses