Tuesday, June 11, 2013

Financial Report for May 2013


The preliminary tables below show our overall financial condition as of the end of May 2013. For the month of May, contributions totaling $90,216 from churches and individuals were $16,133 above what was budgeted ($74,083). Total income for the month of $99,660 was $4,690 above  the budget of $94,970. Expenses for the month were $9,982 above budget ($90,446). 

The month of June is the final month of our fiscal year, and gifts during this month are crucial to our financial stability as we enter a new fiscal year and for our operations during the summer months. Your support is urgently needed this month as we seek to raise the $95,000 needed by June 30. During the first 10 days of June, responses to our fiscal-year closeout appeal totaled $14,810, well below the target for that period of $31,667. (Expenses during the same period totaled $2,750.) Please consider in prayer what you may be able to do to help meet our June goal. 

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

MAY 2013
Donation Income$90,216
Other Income$9,445
Total Income$99,660
Expenses$100,428
Net Income-$767

FISCAL YEAR TO DATE
Donation Income$844,691
Other Income$217,157
Total Income$1,061,848
Expenses$997,407
Disbursed to Capital Fund$135,000
Net Income-$70,559


CAPITAL FUND UPDATE
Capital Campaign Goal*$3,500,000
Received$3,259,398
Long-term Pledges Outstanding$586,271
Total Received and Pledged$3,845,670
Outstanding Obligations$35,000
Monthly Interest Payment$3,424
Remaining Mortgage$691,442


*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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