Dear Friends,
Let us first wish you a Merry Christmas! We thank God for the blessings that He has bestowed on our church and congregation, particularly during this season of light and hope! It is in that spirit of hope that we bring this message to you.
Over the past year, the church has experienced many challenges, mostly related to the debate over changes to the Book of Discipline. These challenges have had a significant impact on the financial condition of Belin. Current giving is down 24% from 2023 levels through November, and well below the budget expectation as shown in the chart below. We face a projected cash deficit of more than $600,000 for the 2024 calendar year, and an even greater projected deficit for 2025. This shortfall has put a strain on the ability of the church to meet upcoming operational needs in the areas of staffing, church programs, and missions. The Finance Committee feels that you, the congregation, should be apprised of the current financial situation and the difficulties we are facing. Before decisions are made that will reduce staffing and severely limit future ministry, we ask that you consider making an extra contribution to the general operating fund for 2024 and that you further consider a pledge or an increased pledge to help offset the projected operating deficit for 2025. Pledge cards returned thus far for the 2025 general budget are down by 13% resulting in the amount pledged being behind 2024 totals by approximately $200,000.
If you are uncomfortable with making a gift or pledge to the general budget, there are other ways to support the mission of the church in the form of designated giving. We invite you to make a designated gift to a Belin Mission of your choosing. These gifts will be restricted to be used by those organizations, missions or projects. Without the support of the congregation, many of these missions and projects will see reduced funding for the upcoming year. We want to continue to do God's work as Luke 6:38 states, "Give, and it will be given to you."
We would also like to report that while our bank balances and investments are valued in excess of $6 Million, the majority of those funds are either donor restricted or designated by the church council and board of trustees for specific purposes. Funds associated with the Transform Initiative ($2.3 million), the Endowment Fund ($2.2 million), and the net proceeds from the Macklen Avenue property sale ($1.1 million) are all examples of funds intended for future property replacement or enhancement. Much work and discussion are required to determine if and how we may be able to use some of these funds to meet current obligations. In short, the funds available to the church for current operating expenses are currently around $380,000. The cost to operate the church and pay expenses is now outpacing the giving by our church members. The Finance Committee and Church Council are exploring ways to cut expenses while maintaining the mission to make disciples of Jesus Christ and to serve others in His name. They are also reviewing policies that provide guidance on what funds can be used to assist with church operations, but we wanted to be fully transparent about the church's financial condition.
STATEMENT OF OPERATIONS THROUGH ELEVEN MONTHS
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