With a commitment of transparency with finances here is our quarterly financial report. If you want to listen to this update, given by Matt Graybill in this weekend’s gatherings, you can listen to the beginning of our most recent podcast.
Quarterly Report for General Giving (Jan 1- March 31):
A Few Notes:
Our budget is composed of three areas: Ministry, Personnel, and Operations. This year, we made a shift to start our fiscal year in July. Last August, all three areas needed significant cuts because of a decrease in general giving and, unfortunately, we needed to make the difficult decision to layoff two full time staff members (Ryan and Amanda). We continued to provide severance and health insurance for them through the end of November, which is why our actual expenditures are higher YTD.
General Fund YTD:
General Fund Giving YTD – $548,569
Budgeted Expenditures YTD – $564,165
Actual Expenditures YTD – $587,998
Total Giving YTD:
Total Giving YTD (July 1-March 31) – $1,076,567 (this includes The Tribune Project, Care, Foster Care and Adoption Fund)
# of total donors giving YTD – 297
# of general fund donors YTD – 238
# of new donors YTD – 66
Average attendance for 2022: 318
Despite the drop in giving to our general fund, we are encouraged by the amount of people in our community that are giving, and the overall generosity to our life as a church community. Through your generosity we continue to help people in our community with needed items like medical supplies, rent, car repair, meals, housing, as well as fund those who are caring for kids through foster care and adoption. It is worth noting that about half of our total number of donors have committed to reoccurring gifts which is super helpful for planning purposes.
General Fund Q3:
General Fund Giving Q3 – $192,088
Budgeted Expenditures Q3 – $181,071
Actual Expenditures Q3 – $177,933
Breaking out just Q3 you can see that we have adjusted our budget to live within our means. You might notice our general fund giving being about $11k higher then what was budgeted. Through your generosity in the Christmas Offering, we received $12,000 to help restore our general fund.
Before August of last year we had saved up rainy day funds to be able to survive on 3 months of operating expenses. Those funds were almost depleted because of the severance we gave. We have now been able to build those funds back up to be able to cover 1 month of operating expenses, and hope to have a reserve to cover 3-5 months of operating expenses in the future.
Once again, we are so thankful for your generosity and we will continue to honor our commitment of financial transparency with our community. If you are wondering about where the Tribune Project stands today, we will be giving an update that includes the finances, general information, and more chances to get in the building.