4 minute read
Stewardship Committee Report
The increase in 2019 stewardship pledges demonstrated commitment of Pinnacle members to support the many ministries of the church. Pledges funded more than half of the costs of the programs and buildings, and it is the single most important way of financially supporting the church.
The total dollars pledged was $1,349,854. This was a 6% increase over the prior year and reversed a three year decline in total dollars pledged. Forty-three members pledged for the first time. The only negative number was that total pledges decreased by eight.
While the stewardship committee primarily focuses on communicating the reasons to support the church with dollars, we do recognize the many thousands of hours that the members give to the church each year. This church would not be the success it is without the time and talent contributed by the members.
When you add time, talent and dollars together, it paints a picture of a church that makes a difference in the lives of the members, the community, and the world.
Thank you for your continued support!
2019 pledges when compared to 2018
Increased 31% $69,298 Decreased 12% $26,846 First Time 14% $124,005 Unchanged 37% $1,129,854 $1,349,854
Number new Pledges 43 Total Pledges 311
First Time 16% Increased 31%
Decreased 8%
as of December 31, 2019 Unchanged 37%
The fiscal year 2018 / 2019 results for the 12 months ended June 30, 2019: Our 2018-2019 fiscal year saw our operating income exceeding operating expenses by $94,548. As of June 30, 2019, our cash reserves were $492,177 comprised of $317,959 in regular checking and $174,218 in savings.
The fiscal year budget for July 1, 2019 through June 30, 2020: Based on the current July ’19 – Dec. ’19 actual numbers, we are expecting to break even at fiscal year ending June 30, 2020. We are looking forward to continued momentum in the Stewardship pledge program in January to keep our regular offerings in line with the budget.
The current results for the six months ending December 31, 2019: The cash balance as of December 31, 2019, was $420,883 with $288,959 in checking and $131,924 in savings. At the end of December our expenses exceeded income by $10,919, an amount less than our budgeted loss of $55,210. Our non-pledge income is vitally important to the Church’s operations, which presents a significant challenge given its highly unpredictable nature. However, excluding the impact of using prior year funds, we expect to end the fiscal year at break even.
Other Items of Note: Our current mortgage balance is down to $101,727 at December 31, 2019. We have not borrowed on our line of credit.
We had some unexpected costs during the calendar year 2019 with the replacement of the sanctuary roof and maintenance of our physical plant. We are grateful for the generosity of our members and their willingness to respond to these unexpected events.
Fran Park Center For Faith and Life is funded on a calendar year basis. As a consequence, funding occurs across PPC fiscal years. It was funded in 2018 for calendar year 2019. FPC expenses reflect improvements to the rehearsal hall, the cost of which is non-recurring. It is expected that FPC will break even for the calendar year 2020.
Ministry Activities for 12 months ended December 31, 2019: We continue to do very well in support of our mission ministries within our operating budget (Missions and Music) as well as through special offerings (Vista del Camino, Create Academy, Andre House, UMOM, Emergency Assistance Donation and other programs in the Presbytery and Presbyterian Church). Missionrelated giving totals $250,803 of which $126,568 is subject to donor restrictions as to the purpose for which the funds are to be used. An additional $56,872 was raised for the Arizona public school and working poor tax credits. The Fran Park Center For Faith and Life continues to grow with the support of generous gifts.
PREVIOUSFISCALYEAR 2018-2019
OPERATING FUND INCOME Regular Offerings Facility Usage Other Insurance Claims Music Christian Education Service TOTAL INCOME
EXPENDITURES Personnel Costs Administration Missions Property and Buildings Worship Music Christian Education Service Leadership Communications 25 for 25 (Anniversary) TOTAL EXPENSES
Net Income/(Loss) - Operating Fund
CONCERT SERIES Income Expenses Net Income/(Loss) - Concert Series Actual Income/Expenses July 2018-June 2019 $1,732,632 64,567 222,095 13,710 63,920 309,915 775 2,407,614
1,156,908 161,025 120,888 471,289 19,932 95,801 266,301 3,345 1,741 13,622 2,214 2,313,066
$94,548
$57,078 57,498 ($420)
CURRENTFISCALYEAR 2019-2020
Annual Budget July 2019-June 2020 $1,810,000 64,800 79,500 0 10,000 253,150 0 2,217,450
Year to Date Budget July 2019-Dec 2019 $866,400 30,920 39,650 0 8,200 126,600 0 1,071,770
Actual Income/Expenses July 2019-Dec 2019 $948,205 31,613 44,105 0 14,340 35,834 599 1,074,695
1,214,240 192,181 124,235 357,138 14,600 53,000 279,839 4,550 2,000 18,695 0 2,260,478
($43,028) 602,492 93,616 54,646 178,581 6,420 30,755 145,519 1,867 999 12,085 0 1,126,980 509,045 86,082 51,623 187,141 11,357 51,162 180,314 1,838 1,433 5,620 0 1,085,616
($55,210) ($10,919)
$62,000 56,595 $5,705 $14,320 23,780 ($9,460) $20,080 20,082 ($2)
* The financial information is presented on the cash basis of accounting and thus does not include all adjustments required by generally accepted accounting principles.
Dece mber 31, 2019
FRAN PARK CENTER FOR FAITH AND LIFE See Accompanying Brochure DEBT SUMMARY Mortgage
101,727
CASH SUMMARY Cash checking Savings Total
$288,959 $131,924 $420,883
