Finance Summary (1st Quarter Report, 2017-18)

pdfSeptember_2017_RevExp

Summary: The first quarter of the fiscal year is very strong on the income side. Pledge income is up due to completion of last year’s pledge and pre-paid pledges. Rental income has already posted nearly 50% of the yearly projection. This is due to a very full summer of camps. Expenses are typically low as the program year gets started. YTD net: $70,244 (vs YTD net: $6,684 for 1Q FY 2016-17).

Funding Options for Capital and Campus Needs
We have been discussing various options around the best way to meet the funding needs for facilities maintenance. The basic choice is either borrowing funds for immediate facilities needs or raising funds through a targeted fundraising campaign. The Board discussed this in September. To review:
Revised Facilities Needs Assessment
Total Campus needs: $317,500
Immediate need (within next 6-12 months): $82,000
Possible campus enhancements (1-3 years): $87,000
Current Maintenance Fund: $19,000
Current mortgage: $110,000

Based on additional conversations with leaders and the stewardship consultant, the Coordinating Team is recommending an immediate special campaign to raise funds for both facilities maintenance and mortgage reduction. There are potentially several donors eager to contribute and possibly offer a substantial matching gift. Mark Kuhn has agreed to serve a chair of the team. The focus is primarily on top tier donors within the Fellowship, but as this short campaign develops, there may be opportunity to offer the congregation a chance to help us meet the goal.

(document by Daniel Trollinger, Director of Administration)