Monday, July 2, 2012

Financial Report

The tables below show our General Fund and Capital Fund financial condition as of the end of June 2012, the final month of our 2011-12 fiscal year. General fund donations of $744,971 this fiscal year compare with donations of $811,280 during FY2010-11, a decrease of $66,309. 

With the usually austere summer months upon us, please prayerfully consider how you might help provide the seminary with a solid financial foundation as we begin new fiscal year this month and our new academic year in August.

General Fund for June 2012
June Budget June Actual June  Actual v. Budget
Expenses $80,250 $80,148 -$102
$62,133 $64,441 +$2,308
Other Income $18,190 $5,707 -$12,483
Total Income $80,323 $70,148 -$15,824
Net Income $73 -$10,000 -$10,073
Fiscal Year to Date Budget Fiscal Year to Date Actual Fiscal Year to Date Actual v. Budget
Expenses $963,029 $969,175 +$6,146
$745,600 $744,971 -$629
Other Income $218,270 $217,405 -$865
Total Income $963,870 $962,376 -$1,494
Net Income $841 -$6,799 -$7,640

The chart below indicates that the total of donations received and pledged to the Capital Campaign to date exceeds our original goal of $3.5 million by $10,651. While that figure alone is exciting news, the goal set in 2003 did not fully rise to the amount of the actual mortgage and capital expenses we incurred. The proceeds of a large cash-and-property bequest in recent months have allowed us to bring our outstanding mortgage debt down to $889,794 and greatly reduced our monthly mortgage payment, creating a positive effect on our overall monthly outlays. Although our original goal has been met, we still are in need of designated funds to pay off the mortgage and complete the campaign objectives. We praise God and our supporters for the great progress that has been made since we moved into our beautiful new campus in 2008.

Capital Fund Update
Goal $3,500,000
Received $2,920,575
Long-term Pledges Outstanding $590,075
Total Received and Pledged $3,510,650
Outstanding Obligations $35,000
Monthly Note $4,987
Remaining Mortgage $889,794

If you would like to make a convenient online donation to Greenville Seminary, click the  "Donate" button below. Whether or not you can contribute financially, here is another way you can help the seminary: Spread the Word! Do you know someone that would be interested in learning more about our organization or supporting us? If so, fill out the form here and an e-mail message with a link to our website will be sent to them. Thank you for your continued support for Greenville Presbyterian Theological Seminary.

Sharing in the Advancement of GPTS

Visit the GPTS Development Office web site for information on ways to support and spread the word about Greenville Seminary: