Friday, March 8, 2013

Financial Report for February 2013


The revised tables below show our overall financial condition as of the end of February 2013. We praise God for this strong showing of support by His people. For the month of February, contributions totaling $158,597 from churches and individuals were $84,514 above what was budgeted ($74,083). Total income for the month of $184,855 was $75,009 above the budget of $109,846. Expenses were $2,715 below budget ($91,946). Your gifts are tax-deductible and may include cash, securities, property or a variety of planned giving instruments. 

Our Capital Funds report shows a $195,000 decrease this month in the balance due on our campus mortgage, thanks to large gifts to this program in February. The decrease means a significant drop in our monthly outlay for mortgage amortization, for which we are grateful.

FEBRUARY 2013
Expenses$89,231
Donation Income$158,597
Other Income$6,393
Total Income$184,855
Net Income+$95,624

FISCAL YEAR TO DATE
Expenses$746,552
Donation Income$634,771
Other Income$197,263
Total Income$832,034
Net Income+$85,463


CAPITAL FUND UPDATE
Capital Campaign Goal*$3,500,000
Received$3,057,025
Long-term Pledges Outstanding$588,246
Total Received and Pledged$3,705,272
Outstanding Obligations$35,000
Monthly Note$3,620
Remaining Mortgage$694,794


*Although the formal fund-raising campaign goal has been more than realized, additional funds are needed to amortize the balance of our mortgage.





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