{"id":24694,"date":"2024-12-19T15:10:00","date_gmt":"2024-12-19T15:10:00","guid":{"rendered":"https:\/\/www.brethren.org\/news\/?p=24694"},"modified":"2024-12-20T03:15:57","modified_gmt":"2024-12-20T03:15:57","slug":"year-to-date-financial-report","status":"publish","type":"post","link":"https:\/\/www.brethren.org\/news\/2024\/year-to-date-financial-report\/","title":{"rendered":"Year-to-date financial report for 2024 anticipates good giving"},"content":{"rendered":"\n

Church of the Brethren treasurer Ed Woolf presented a year-to-date financial report to the Mission and Ministry Board\u2019s meeting on Dec. 5, anticipating a good outcome in terms of giving to the denominational ministries.<\/p>\n\n\n\n

Congregational giving to denominational ministries as of end of October 2024 totaled $1.14 million, which is $23,000 behind budget. Woolf noted, however, that if the average giving for the last two months of the year is met, which would amount to $347,000, the denomination will meet its annual congregational giving budget of $1.48 million.<\/p>\n\n\n\n

Individual giving to denominational ministries totaled $483,000 as of end of October, which is $80,000 ahead of budget. If the average amount of giving from individual donors in November and December is met by year\u2019s end, which would be $291,000 over those two months, individual giving will exceed the budgeted amount of $716,000.<\/p>\n\n\n\n

As of Oct. 31, combined giving from congregations and individuals to the Church of the Brethren\u2019s Core Ministries is $57,000 ahead of budget and $53,000 ahead of last year\u2019s giving year-to-date.<\/p>\n\n\n\n

Turning to investment reporting, Woolf told the board that the denomination\u2019s investment balance is approximately $36 million as of the end of October, which is almost equal to the balance at the beginning of 2024.<\/p>\n\n\n\n

Reporting on expenses year-to-date, as of October the Core Ministries budget had a net expense of $328,000. This does not include the use of $333,000 in designated funds that are in the 2024 budget. Looking ahead to year end, if the denominational ministries receive a similar amount of income and incur a similar amount of expenses in November and December 2024 as was the case in 2023, the potential year-end deficit for Core Ministries may amount to more than $200,000–before any potential transfer from designated funds.<\/p>\n\n\n\n

In the budgets of the self-funded units, as of October, Material Resources was showing a $23,000 net income and the Conference Office (Annual Conference) was showing a small net expense of $500. Giving to the Emergency Disaster Fund (EDF), which funds Brethren Disaster Ministries, totaled $1.1 million as of October–down $52,000 from last year, but expected to increase due to the increased giving for hurricane response that will begin to appear in the November and December numbers. Giving to the Global Food Initiative Fund (GFI) totaled $167,000 as of end of October, which is up $11,000 from last year.<\/p>\n\n\n\n

Looking back at 2023, Core Ministries, Material Resources, and the Conference Office had a combined net deficit of $430,000 as of October. For 2024, these budgets had a combined net deficit of $306,000, representing an improvement of $124,000 year-over-year.<\/p>\n\n\n\n

#MissionAndMinistryBoard #StrategicPlan #RacialJustice #LoveOurNeighbors #Discipleship #NewTestamentGiving<\/p>\n\n\n\n

———-<\/p>\n\n\n\n

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