Current annual income (dollars used during most recent fiscal year) 2023 Budget
This proposed budget was approved.
Current annual expenses (dollars budgeted for most recent fiscal year): $703,455
Considering total budgeted expenses for the year, compare total ministerial support. What is the percentage? 31%
Has the church ever failed to pay its financial obligations to a minister of the church? No
Is your church 5-for-5, i.e., does it include each of the following contributions during the church year? (Indicate those included during the most recent fiscal year)
_x_ Our Church’s Wider Mission (OCWM – Basic Support)
_x_ One Great Hour of Sharing
_x_ Strengthen the Church (not in 2020 during the pandemic)
_x_ Neighbors in Need (not in 2020 during the pandemic)
_x_ Christmas Fund (not in 2020 during the pandemic)
In what way is OCWM (Basic Support) gathered? If calculated as a percentage of the operating budget, what is that percentage? Budgeted, 6%.
What is the church’s current indebtedness?
Total amount of loan debt: $21,373
Reason for debt: Construction and repairs
Are capital and other payments current? Yes
If the church has had capital campaigns in the last ten years, describe:
Between 2014-19, we raised $1.3M of our $1.5M goal to repair the interior and exterior of the church, including fire safety and access installations, roof, parking lot, sound system, bathroom, and office renoavations.
Describe the prominent mission component(s) involved in the most recent (or current) capital campaign. Facility upgrade and repair.
Does your church have an endowment? Yes
What is the market value of the assets? $1,626,000 at 06/11/2023
Are funds drawn as needed, regularly, or under certain circumstances?
We annually withdraw a portion of the earnings and occasionally draw from the principal with congregational approval.
What is the percentage rate of draw (last year, compared to 5 years ago)?
Describe draw on endowment, if any, to meet operating budget expenses for the most recent year and the past five years:
5% of the average value of the last five years is withdrawn each year.
At the current rate of draw, how long might the endowment last? Scores and scores of years.
Please comment on the above calculations or estimates: Accurate.
Reserves (savings): $30,000 as of 06/11/2023
Investments (other than endowment):
There is approximately $650,000 in operating and reserve funds as of May 31, 2023.
$445,000 Operating Fund ($175,000 is for FCLC)
$59,000 in a Capital Campaign fund ( used as needed for larger building maintenance)
$132,000 Pastoral Support Funds (currently invested in two CDs)
Does your church have a parsonage? No
Describe all buildings owned by the church:
The entire church building at 1047 Curtiss Street is nearly 43,000 SF with six levels. See a history here.
The original 1916 portion of the building houses the nursery, Two Way Street Coffee House, and the conference room. The 1925 addition houses the sanctuary and Fellowship Hall with a commercial kitchen, PADS showers and laundry facilities, and the mechanicals. In 1963, an education wing with 24,000 SF was added. It houses the offices, youth rooms, FCLC, and chapels.
The property at 1101 Curtiss, adjoining the church, is a standalone structure of 7800 SF used for storage with an additional structure of 750 SF used for Community Kitchen distributions.
Describe non-owned buildings or space used or rented by the church: None
Which spaces are accessible to wheelchairs? Our main sanctuary, Fellowship Hall, and all floors of our building are accessible to wheelchairs. Only the pulpit, chancel, and choir lofts are not.