Wednesday, November 6, 2013

Financial Report for October 2013

The tables below show our overall financial condition as of the end of October. Donations of $100,433 from churches and individuals were $38,960 above the $61,473 October budget for these types of unrestricted contributions. Expenses of $86,800 were $1,202 below the $88,002 budgeted for expenses. We praise God and thank His people for one of the best outpourings of support for any October. 

November and December are traditionally the months for our annual Thanksgiving and Year-end financial outreach. This year our goal is $165,000. We depend on God's people and faithful churches for a major portion of our yearly income during these two months. We seek, D.V., to replenish our reserve fund which is vital to easing seasonal cash flow fluctuations. Furthermore, funds are needed future faculty additions. Finally, we encourage churches at this time of year to consider keeping or adding GPTS to their external giving budgets for 2014.

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.


GENERAL FUND - OCTOBER 2013
Donation Income (unrestricted)$100,433
Other Income$6,782
Total Income$107,215
Expenses$86,800
Net Income$20,415

GENERAL FUND - FISCAL YEAR 2013-14
Donation Income$249,914
Other Income$94,521
Total Income$344,435
Expenses$338,904
Net Income$5,531


CAPITAL FUND
Capital Campaign Goal*$3,500,000
Received$3,269,368
Long-term Pledges Outstanding$571,008
Total Received and Pledged$3,840,377
Outstanding Obligations$35,000
Monthly Interest Payment$3,350
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.