Treasurer's Report

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

View a PDF of the presentation.

Summary of Fourth Quarter 2019

Giving was $3.47M

  • Up $398K when compared to Q4 2018 giving

Spending was $2.86M

  • Down $162K when compared to Q4 2018 spending

Giving exceeded spending by $616K

  • In Q4 2018 giving exceeded spending by $56k

2019 Summary

Giving was $10.30M

  • Up $123K when compared to 2018
  • $300k below 2019 budgeted giving of $10.6M

Spending was $10.19M

  • Down $173K when compared to 2018
  • $338K below 2019 budgeted spending of $10.5M

Giving exceeded spending by $115K

  • In 2018 December YTD spending exceeded giving by $180k

Mortgages

Bethlehem Mortgage for North Campus

  • $1.76M Principal balance as of 12/31/2019
  • Reduced by $435k YTD
  • $156k of this reduction was from special designated gifts toward reducing our mortgage balances.

Bethlehem Mortgage for South Campus

  • $6.80M principal balance as of 12/31/2019
  • Reduced by $120k YTD (payments began in March)

Conclusion

Praise

  • While giving was lower than budgeted in 2019, expenses were well-managed in line with contributions.
  • Bethlehem responded to God’s grace and our financial need with generous contributions of $2M in the last month, allowing us to meet our 2019 financial obligations.

Prayers

  • Pray for a continued strong outpouring of generosity as we start 2020, so that planned and budgeted ministry initiatives are not deferred.
  • Pray that we would continue to depend on God to meet our needs in the years to come.

Slides can be seen by viewing a PDF of the presentation.

Downtown Campus

720 13th Avenue South, Minneapolis, Minnesota, 55415
Sundays: 7:30am, 9am & 11am

North Campus

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

South Campus

20700 Kenrick Ave, Lakeville, Minnesota, 55044
Sundays: 10:30am