Monday, August 10, 2015

Financial Report for July 2015

The tables below indicate our financial situation as of the end of July 2015, the first month of our 2015-16 fiscal year. Unrestricted general fund donations from churches and individuals during July totaled $45,578, which was $22,338 below the $67,916 budgeted for such income. Expenses of $112,114 were $6,112 above the $106,002 budgeted for expenses. In addition, we received $1,243 toward our Capital Fund in July, and $5,725 was given for scholarships.

The 2015-16 Budget

The seminary's budget for the 2015-fiscal year contemplates unrestricted general fund donation income of $815,500. Unrestricted donations are those from individuals and churches which are not designated for some special purpose, such as scholarships, special projects, the capital fund, faculty travel, etc. The budget for this category was increased by $49,192 over last fiscal year's budget of $766,308. Actual income in this category last fiscal year totaled $1,042,660, owing in part to two very substantial individual gifts and a bequest. GPTS has budgeted total income from all sources at $1,228,613 for FY15-16. This fiscal year's expense budget is $1,272,018, compared to last year's $1,051,080, for an increase of $220,938. Actual expenses in FY14-15 were under budget at $1,040,733,


 GENERAL OPERATING FUND - JULY 2015

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

 Donation Income (unrestricted)
$45,578  
 Other Income
$21,161  
 Total Income
$66,739  
 Expenses
$112,114  
 Net Income
–$45,375  
 GENERAL OPERATING FUND -  FISCAL 2015-16
Donation Income
$45,578  
Other Income
$21,161  
Total Income
$66.739  
Expenses
$112,114  
Net Income
–$45,375  

 CAPITAL FUND
 Capital Campaign Goal
$3,500,000 
 Received
$3,403,307 
 Long-term Pledges Outstanding
$282,102 
 Total Received and Pledged
$3,685,519 
 Outstanding Obligations
$0 
 Monthly Interest Payment
$2,783 
 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.