Tuesday, July 7, 2015

Financial Report for June 2015 and End of Fiscal Year 2014-15

The tables below indicate our financial situation as of the end of June 2015 and the 2014-15 fiscal year. Unrestricted general fund donations from churches and individuals during June totaled $47,099, which was $16,760 below the $63,859 budgeted for such income. (Note: Another $5,000 was given toward the goal of our end-of-fiscal-year appeal but was not received until July 1. It will be included in next month's report.) Expenses of $113,223 were $25,633 above the $87,590 budgeted for expenses. (This is due in part to the fact that there were three payroll dates in June, and only one in May owing to the fact that May 31st was a Sunday.) In addition, we received $812 toward our Capital Fund in June, and $1,095 was given for scholarships.

June was the last month of our 2014-15 fiscal year. The seminary ended the year with $1,041,460 in unrestricted contributions, which compares to the $759,374 given by individuals and churches last fiscal year for general operations, an increase of $282,086. The seminary was blessed to have several major donations and a sizable bequest during FY15, and to have scores of faithful contributors who gave small to large donations regularly through the year. We thank God for these saints and churches who recognize the vital necessity of a seminary such as GPTS standing as guardian of the historical Christian faith and Reformation confessions.

Expenses for the fiscal year totaled $1,039,104 compared to $1,082,203 during the previous fiscal year, a decrease of $43,099. The seminary is blessed with an administration, faculty, staff and studnet body committed to accomplishing much with a heart for frugality and stewardship.

GPTS Advancement Initiative Exceeds FY15 Goals


The Board of Trustees set a goal of raising $200,000 above the $766,308 budget for unrestricted general fund giving during fiscal year 2015. The multifaceted GPTS Advancement Initiative, created by the Development Office to reach that goal, resulted in gifts totaling $275,152 above budget, for a total of $1,041,460. We praise our Provident God and His responsive people who made this possible.


 GENERAL OPERATING FUND - JUNE 2015

fundraising ideas for schools, churches, and youth sports teams
Graph shows June
contributions vs. Budget 
(upper number)

 Donation Income (unrestricted)
$47,099  
 Other Income
$8,719  
 Total Income
$55,818  
 Expenses
$113,223  
 Net Income
–$57,405  
 GENERAL OPERATING FUND -  FISCAL 2014-15
Donation Income
$1,041,460  
Other Income
$273,299  
Total Income
$1,314,759 
Expenses
$1,039,104  
Net Income
$275,655  

 CAPITAL FUND
 Capital Campaign Goal
$3,500,000 
 Received
$3,402,700 
 Long-term Pledges Outstanding
$282,491 
 Total Received and Pledged
$3,685,191 
 Outstanding Obligations
$0 
 Monthly Interest Payment
$2,597 
 Remaining Mortgage
$580,817 



 

If you would like to make a convenient online donation to Greenville Seminary, click the "Donate" button above. Gifts may also be mailed to: Greenville Seminary, PO Box 690, Taylors SC 29687.

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Fidelity Charitable Clients: Click here for Donor-Advised Fund direct deposit (available soon)
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Most of all, be fervent in prayer that God would provide all that is needed for us to do what He has called us to do in this ministry which the church so badly needs in these uncommon times.

Remember, gifts to GPTS are tax-deductible and may include cash, securities, property or a variety of planned giving instruments. (The tax deduction is reduced by the fair market value of any premium received in return for a donation.) See here for information about planning your last will and testament with the Kingdom of God in mind.

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. (Click the tiny "M" e-mail icon at the bottom of this post.) Thank you for your continued support for Greenville Presbyterian Theological Seminary.