GRACE CHURCH FINANCES 2017 OVERVIEW Current (2018) Budget - PowerPoint PPT Presentation

GRACE CHURCH FINANCES 2017

OVERVIEW • Current (2018) Budget • Projected Year-end Financial Position • 2019 Budget Projections • Trustees of the Funds (TOF) Accounts • Pledge Campaign Statistics • Questions, Comments, Budget Input

2018 FINANCIAL STATUS

2018 BUDGETED INCOME INCOME PLEDGES $ 280,000.00 PLATE $ 35,000.00 OTHER GENERAL $ 53,200.00 TOF $ 47,000.00 OTHER DESIGNATED $ 11,490.00 TOTAL $ 426,690.00

2018 BUDGETED INCOME PLEDGES PLATE OTHER GENERAL TOF OTHER DESIGNATED

2018 BUDGETED EXPENSES EXPENSES PERSONNEL $ 283,910.00 MUTUAL MINISTRIES $ 7,500.00 WORSHIP AND MUSIC $ 35,770.00 EPISCOPAL MINISTRIES $ 18,500.00 PROPERTY EXPENSES $ 77,381.00 ADMINISTRATION $ 28,700.00 TOTAL $ 451,761.00

2018 BUDGETED EXPENSES

2018 BUDGET SUMMARY INCOME $ 426,690 EXPENSES $ 451,761 BUDGETED DEFICIT $ 25,071

PROJECTED 2018 END OF YEAR INCOME GENERAL SUPPORT $409,147 DESIGNATED SUPPORT $ 80,314 TOTAL PROJ. INCOME $489,461

PROJECTED 2018 END OF YEAR EXPENSES PERSONNEL $289,699 MUTUAL MINISTRIES $ 5,128 WORSHIP & MUSIC $ 36,057 EPISCOPAL MINISTRIES $ 19,363 PROPERTY EXPENSES $ 88,701 ADMIN & PARISH OPERATIONS $ 24,901 TOTAL PROJECTED EXPENSE $463,849

PROJECTED 2018 END OF YEAR INCOME/EXPENSES TOTAL PROJECTED INCOME $489,461 TOTAL PROJECTED EXPENSE $463,849 NET PROJECTED INCOME $ 25,612

2019 BUDGET PROJECTIONS

2019 PROJECTED INCOME INCOME Pledges $ 308,000.00 Plate $ 38,500.00 Other GS $ 48,200.00 TOF Payouts $ 40,000.00 Other DS $ 9,400.00 TOTAL $ 444,100.00

2019 PROJECTED INCOME Pledges Plate Other GS TOF Payouts Other DS

2019 PROJECTED EXPENSES EXPENSES Personnel $ 320,320.00 Mutual Ministries $ 8,900.00 Worship and Music $ 36,530.00 Episcopal Ministries $ 28,500.00 Property $ 80,700.00 Operations $ 31,350.00 TOTAL $ 506,300.00

2019 PROJECTED EXPENSES Personnel Mutual Ministries Worship and Music Episcopal Ministries Property Operations

2019 PROJECTED BUDGET SUMMARY INCOME $ 444,100 EXPENSES $ 506,300 NET DEFICIT ($ 62,200)

ANTICIPATED NEEDS • RECTOR AND OTHER STAFF COMPENSATION • RECTOR SABBITICAL RESERVE • EXPANDED STAFF- SEXTON • OUTREACH • DIOCESAN PLEDGE

TRUSTEES OF THE FUNDS • Claiming a heritage dating back to 1754, The Trustees of the Funds is a related organization of the Diocese of Virginia and may provide its services to Episcopal Church entities in all three of the dioceses within Virginia. • “TOTF” provides investment/endowment management services for long-term and short-term needs and also offers a Gift Annuity Fund for easily accessible planned giving programs. Overseen by an elected board of trustees, TOTF is a distinctly Episcopal investment option which serves nearly 150 churches and organizations with the management of almost $140 million in assets.

Trustees of the Funds-Returns SEPTEMBER 0.4 % YTD 1.2% 12 Month 4.7% 36 Month 8.3% 60 Month 5.1%

Trustees of the Funds Accounts • 150 Anniversary Fund • Altar Guild Fund • Bowman Grounds Fund • Mars Concert Series Fund • Preservation Fund • Rowe Memorial Fund (For people in need) • Youth Group Fund • Backer Building Maintenance Fund • Munster Mead Music Fund • Investment Fund

OUR FUTURE

PROJECTING OUR GROWTH • ASSUMING A 10% ANNUAL GROWTH IN PLEDGE AND PLATE GIVING • ASSUMING A 3% GROWTH IN SPENDING • PROJECTS A BALANCED BUDGET BY 2022

GROWTH PROJECTIONS 2018 2019 2020 2021 2022 PLEDGE AND PLATE $ 291,000 $ 320,100 $ 352,110 $ 387,321 $ 426,053 OTHER INCOME $ 145,190 $ 145,190 $ 145,190 $ 145,190 $ 145,190 TOTAL INCOME $ 436,190 $ 465,290 $ 497,300 $ 532,511 $ 571,243 TOTAL EXPENSES $ 463,935 $ 477,853 $ 492,189 $ 506,954 $ 522,163 DEFICIT $ (27,745) $ (12,563) $ 5,111 $ 25,557 $ 49,080 CUM. DEFICIT $ (27,745) $ (40,308) $ (35,197) $ (9,640) $ 39,440

PROJECTED 2018 END OF YEAR INCOME/EXPENSES TOTAL PROJECTED INCOME $489,461 TOTAL PROJECTED EXPENSE $451,761 NET PROJECTED INCOME $ 25,612

2019 ANNUAL GIVING

2019 ANNUAL GIVING OBJECTIVES • INCREASE TOTAL PLEDGED AMOUNT BY 10% • INCREASE NUMBER OF PLEDGING UNITS FROM 80 TO 90 • 2019 KICKOFF-NOVEMBER 18 • 2019 COMPLETION-JANUARY 20

2018 ANNUAL GIVING Total 2018 Pledges 80 Total $ Pledged $ 297,324 Average Pledge $ 3,716 Range $100-$50,000 Pledges >10K 6 Average, less large pledges $ $2,509

ANNUAL GIVING HISTORY 2012 $244,328 2013 $254,179 2014 $212,234 2015 $228,000 2016 $230,505 2017 $264,731 2018 $297,324

QUESTIONS / COMMENTS

THANK YOU