Thursday, September 5, 2013

Field of Dreams: Financial Report for August 2013

Dear Friends and Supporters of GPTS,

The 1989 baseball fantasy film Field of Dreams is built around one of its now-famous lines: "If you build it, he will come." In the movie, novice Iowa farmer Ray Kinsella hears a voice whispering that line, which he interprets as an instruction to build a baseball field in his cornfield. He understands that if he builds the field, the ghost of his deceased father's favorite baseball player, "Shoeless" Joe Jackson, will appear. Shoeless Joe, a member of the infamous 1919 Chicago White Sox, was banned from baseball for life in 1921 for his alleged part in throwing the World Series that year. In the film, Shoeless Joe and the rest of the team eventually do appear to practice and play on Ray's "Field of Dreams," and Ray sets out on a quest to learn more, eventually discovering that the "he will come" message referred to his own father, who has some advice for his son. (Incidentally, Jackson, who was acquitted by a jury of participating in the so-called "Black Sox" scandal, was a native of Greenville, S.C., and a museum in his honor stands downtown at 356 Field St.)

What's the relevance to GPTS? Let me explain.

It is probably not a good trait for a fund-raiser to dislike asking people for money. My approach as director of development, instead,  has been a variation of the "Build it, and they will come" theme. It has been my belief that if we at GPTS simply tell our compelling story — our theological distinctives, our conservative Reformed credentials and our program successes — in a compelling way, there will be a natural constituency out there that will appear to provide the support we need to do our work. For the most part, that approach has been productive over the years.

But not always. The time comes, now and again, when anticipated giving drops off to unworkable levels, threatening mission accomplishment, a situation demanding that this reluctant fund-raiser must ASK for help. Such a time has come, as we have experienced repeated months of deficits and have had to rely on lines of credit for cash flow to keep our school going. We do not like operating that way. So we ask you to prayerfully consider sending as large a gift as you can at this time and, more importantly, pledge yourself to become a regular monthly supporter.

Thank you,

Garry J. Moes

Director of Development and Recruiting,

The tables below show our overall financial condition as of the end of August. Donations of $32,566 from churches and individuals were $28,907 below the $61,473 August budget for these types of unrestricted contributions. Expenses of $79,161 were $8,841 below the $88,002 budgeted for expenses.

With higher enrollment and higher tuition rates for this academic year, tuition income is up. Still, tuition, by design, is a relatively small portion of our budgeted income because we do not wish our students to acquire debt for their theological education at GPTS. Thus, we continue to rely upon supporters for the bulk of our financial needs. Our annual Fall appeal to churches has just been made. We ask church leaders to prayerfully consider keeping or adding us to their mission or other ministry support budgets.

Remember, gifts to GPTS are tax-deductible and may include cash, securities, property or a variety of planned giving instruments. SENIORS PLEASE NOTE information about IRA Charitable Rollovers in 2013, as explained here.

Donation Income (unrestricted)$32,566
Other Income$42,625
Total Income$75,191
Net Income-$3,970

Donation Income$75,842
Other Income$65,985
Total Income$141,827
Net Income-$25,205

Capital Campaign Goal*$3,500,000
Long-term Pledges Outstanding$571,436
Total Received and Pledged$3,839,093
Outstanding Obligations$35,000
Monthly Interest Payment$3,259
Remaining Mortgage$691,442

*Although the formal fund-raising campaign goal has been more than realized when combining receipts to date with pledges outstanding, additional funds are needed to amortize the balance of our mortgage.

If you would like to make a convenient online donation to Greenville Seminary, click the  "Donate Online" button above. Gifts may also be mailed to: Greenville Seminary, PO Box 690, Taylors SC 29687. 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, share a link to this newsletter or our website. Thank you for your continued support for Greenville Presbyterian Theological Seminary.