Treasurer's Report

Summary of the Treasurer’s Report on July 26, 2020

View a PDF of the presentation.

Second Quarter Summary

Giving was $2.29M

  • Down $196K when compared to Q2 2019 giving

Spending was $2.49M

  • Down $100K when compared to Q2 2019 spending

Spending exceeded giving by $202K

  • In Q2 2019, spending exceeded giving by $106K

2020 Year-to-Date Summary

YTD Giving was $4.41M

  • Down $226K when compared to 2019
  • $345K below 2020 budgeted giving of $4.75M

YTD Spending was $4.83M

  • Down $80K when compared to 2019
  • $294K below 2020 budgeted spending of $5.12M

YTD Spending exceeded Giving by $425K

  • In 2019, YTD spending exceeded giving by $279K

Mortgages

Bethlehem Mortgage for North Campus

  • $1.57M Principal balance as of 6/30/20
  • Reduced by $198K YTD
  • $85k of this reduction was from special designated gifts toward reducing our mortgage balances.

Bethlehem Mortgage for South Campus

  • $6.72M principal balance as of 6/30/20
  • Reduced by $79k YTD

Conclusion

Praise

  • We are thankful for an increase in those using online giving and recurring giving options while we are prevented from all worshiping together.
  • We continue to manage expenses in line with giving, although timing of receipts and expenditures causes fluctuations on an interim basis.

Prayers

  • Pray for continued generosity in 2020, so that planned and budgeted ministry initiatives aren’t deferred.
  • Pray for wisdom for the leaders of the church and the financial team to manage and plan in an uncertain economic environment.

Notes on spending/giving histories, year-to-date spending, net assets, the Payroll Protection Program (PPP), and the current audit are available in the PDF of the presentation.

Downtown Campus

720 13th Avenue South, Minneapolis, Minnesota, 55415
Sundays: 9am & 11am

North Campus

5151 Program Ave, Mounds View, Minnesota, 55112
Sundays: 8am, 9:30am & 11am

South Campus

20700 Kenrick Ave, Lakeville, Minnesota, 55044
Sundays: 9am