Summary of the Treasurer’s Report on July 25, 2021

View a PDF of the presentation.

Second Quarter 2021 Summary

• Giving was $2.11M
  Down $179K when compared to Q2 2020 giving (-7.8%)
  Prior 3 year Q2 avg = $2.39M
• Spending was $2.45M
  Down $43K when compared to Q2 2020 spending (-1.7%)
  Prior 3 year Q2 avg = $2.58M
• Spending exceeded Giving by $338K
  In Q2 2020 spending exceeded spending by $202K

2021 Year-to-Date Summary

• YTD Giving was $4.18M
  Down $230K when compared to 2020 (-5.3%)
  $425K below budgeted giving of $4.6M
• YTD Spending was $4.69M
  Down $145K when compared to 2020 (-3.0%)
  $331K below budgeted spending of $5.02M
• YTD Spending exceeded Giving by $510K
  In 2020, YTD spending exceeded giving by $425
  YTD deficit is $95K higher than budgeted

Mortgages & Other Liabilities

Bethlehem Mortgage for North Campus

• $1.13M Principal balance as of 6/30/2021
• Reduced by $243K YTD
• $94K of this reduction was from special designated gifts towards reducing our mortgage balances.

Bethlehem Mortgage for South Campus

• $6.55M principal balance as of 3/31/2021
• Reduced by $88K YTD

Total Debt & Other Liabilities

• $7.81M Mortgages (debt) including Mesken Property
• $348K Net Current Liabilities
• $8.16M Total Debt & Other Liabilities

Conclusion

Praise

• We are thankful for another quarter of stable finances, consistent with prior years
• We have a solid core of faithful givers
• We continue to manage expenses in line with revenue, although timing of receipts and expenditures causes fluctuations on an interim basis

Prayer

• Pray for unity in the execution of our mission
• “Let us not grow weary of doing good, for in due season we will reap, if we do not give up” (Galatians 6:9).

Notes on year-to-date spending/giving, assets, ethics, and accountability are available in the PDF of the presentation.