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Treasurer's Report

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.