Thursday, April 4, 2013

Financial Report for March 2013


The seminary entered the fourth quarter of its 2012-13 fiscal year on April 1 with our overall financial condition shown in the revised and updated tables below (as of the end of March 2013). For the month of March, contributions totaling $30,697 from churches and individuals were $43,386 below what was budgeted ($74,083). Total income for the month of $56,299 was $53,546 below the budget of $109,845. Expenses for the month were $14,938 below budget ($91,947). Your gifts in April are needed to overcome the March deficit. Remember, gifts to GPTS are tax-deductible and may include cash, securities, property or a variety of planned giving instruments. 

MARCH 2013
Expenses$77,009
Donation Income$30,697
Other Income$25,602
Total Income$56,299
Net Income-$20,710

FISCAL YEAR TO DATE
Expenses$763,099
Donation Income$740,426
Other Income$223,039
Total Income$963,465
Net Income+$200,366


CAPITAL FUND UPDATE
Capital Campaign Goal*$3,500,000
Received$3,256,421
Long-term Pledges Outstanding$587,699
Total Received and Pledged$3,844,121
Outstanding Obligations$35,000
Monthly Note$3,620
Remaining Mortgage$691,794


*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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