Friday, May 6, 2016

"The Value of Sound Theology": April 2016 Financial Report


During this past academic year, God has done great things here at GPTS, not the least of which were the addition of two brilliant new faculty members, one of the best theology conferences we have ever hosted, expanding interest in our media programs, advancements in our international extensions and outreach, more personal contact with our supporters, a deeper commitment to piety and revival through fasting and prayer, and much more. 

As our academic year draws to a close, so too does the 2015-16 Fiscal Year. Although we have managed by God's grace, the generosity of His people, and careful stewardship to meet our financial obligations to date and realize the above accomplishments, our financial accounts have seen many fluctuations from month to month, necessitating appropriation of limited reserve funds, as the financial report below shows.

Yet, the value of what we do here at GPTS is best measured in the progress of our students, who often could not answer their calls to the ministry through an education at GPTS without the investment our donors make in this low-tuition institution. We recently received a large donation from an elder in Charleston, S.C., saying, "I have served on the Examinations Committee at Presbytery in the past. GPTS students stand head and shoulders above other candidates entering the gospel ministry. Thank you for all you do for Christ’s Kingdom."

Here, in the words of some of our current students, are testimonials about what your gifts are accomplishing:

Zack and Jocelyn Groff
"I thank God for working His kind providence through GPTS and its generous supporters in providing me with a world-class seminary education. Through GPTS, I am able to pursue the training that I need for a Christ-exalting pastoral ministry. My experiences in this past year confirm GPTS's reputation for biblically faithful (and affordable) instruction in the theological tradition of confessional Presbyteriansm. The affordability and flexibility of the distance program has allowed me to begin my studies without uprooting my family, leaving my full-time job, or going into debt. Before I found out about GPTS, I thought that this kind of program simply did not exist. I thank God for leading me to Greenville Presbyterian Theological Seminary!" — Zack Groff


Curt and Precious Straeter
"My first year at GPTS has shown my wife and me the immense value of sound theology that is practically applied. Every class is a means to cultivate godliness not only in a future congregation, but even in my family's life now as I study, all to the chief end of God's glory. This semester, Dr. Morales's Pentateuch class has served as a shining example of such application, and it has been one of the finest courses of any kind I have taken at any institution." — Curt Straeter


Michael and Melissa Spangler





"My professors at GPTS show me every day more and more of the glory of Christ in his Word, and make me more and more eager to preach his glorious gospel!" — Michael Spangler





FINANCIAL REPORT FOR APRIL 2016


Our total-income budget for the current fiscal year, which ends June 30, is $1.23 million. As things stand, we will need some $133,000 during May and June to meet our budgeted obligations for the rest of FY2015-16. Although God has graciously provided in such a way that we have never ended a fiscal year in the red, each year sees financial valleys during many months. We have been able this year to tap a reserve made possible through a bequest received during the previous year, but we will need an additional $200,000 above budget to replenish that crucial reserve for the new fiscal and academic year.

The tables below indicate our general operating fund financial situation as of the end of April 2016 and the first 10 months of our 2015-16 fiscal year. Unrestricted general fund donations from churches and individuals during April totaled $36,930, which was $31,028 below the $67,958 budgeted for such income. Total income for April was $53,748, including $16,667 from a reserve stemming from an unbudgeted bequest. Expenses of $97,318 were $4,168 below the $101,486 budgeted for expenses.

GENERAL OPERATING FUND – APRIL 2016
Donation Income (Unrestricted)
$36,930
Other Income*
$16,818
Total Income
$53,748
Expenses
$97,318
Net Income
($43,569)

GENERAL OPERATING FUND – FISCAL YEAR 2015-16
Donation Income (Unrestricted)
$603,401
Other Income*
$367,006
Total
$970,407
Expenses
$1,027,295
Net Income
($56,888)

*Includes a $16,667 monthly draft from a 2015 bequest reserve (see graph below).


 CAPITAL FUND
 Capital Campaign Goal
$3,500,000 
 Received
$3,461,976 
 Long-term Pledges Outstanding
$239,123 
 Total Received and Pledged
$3,701,099 
 Outstanding Obligations
$0 
 Monthly Payment (Interest Only)
$2,735 
 Remaining Mortgage
$570,817 


Donate to GPTS through the PayPal Giving Fund. Giving through this Fund means 100% of your gift will reach GPTS, without the usual processing fees deducted. You can also support the seminary by buying and selling through the eBay for Charity system.
Gifts may also be mailed to: Greenville Seminary, PO Box 690, Taylors SC 29687.

And don't forget to do your online shopping at AmazonSmile. Log on to smile.amazon.com and select Greenville Presbyterian Theological Seminary as your charity. Or click on the AmazonSmile banner at the very bottom of this e-newsletter. 
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Fidelity Charitable and Schwab Charitable clients: Click here for Donor-Advised Fund direct deposit. Wells Fargo employees: check with your company about matching gifts to GPTS.
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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