Tuesday, May 7, 2013

Financial Report for April 2013


The preliminary tables below show our overall financial condition as of the end of April 2013. For the month of April, contributions totaling $52,824 from churches and individuals were $21,259 below what was budgeted ($74,083). Total income for the month of $59,039 was $35,932 below the budget of $94,971. Expenses for the month were $5,695 above budget ($90,446). 

Deficit net income trends for the past several months have rapidly depleted our hitherto positive position for the fiscal year which ends June 30, and if continued, will jeopardize our financial standing as we close out the fiscal year. Our budget for the last two months anticipates a large annual gift during that period which would improve the outlook. However, your gifts in May and June are urgently needed to help us conclude our 2012-13 fiscal year and carry on our summer program in a fiscally sound manner.  

Remember, gifts to GPTS are tax-deductible and may include cash, securities, property or a variety of planned giving instruments. 

APRIL 2013
Donation Income$52,824
Other Income$6,215
Total Income$59,039
Expenses$96,141
Net Income-$37,477

FISCAL YEAR TO DATE
Donation Income$754,195
Other Income$207,702
Total Income$961,897
Expenses$896,587
Disbursed to Capital Fund$135,000
Net Income-$69,690


CAPITAL FUND UPDATE
Capital Campaign Goal*$3,500,000
Received$3,257,485
Long-term Pledges Outstanding$587,485
Total Received and Pledged$3,845,171
Outstanding Obligations$35,000
Monthly Note$3,327
Remaining Mortgage$691,090


*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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