By the Numbers
Financial Performance for the Third Quarter, 2022
Financial performance for the third quarter was a little below our expectations. Revenues were 9% below our budget estimate while expenses were at budget. This resulted in an Operating Deficit of $61,193 for the quarter vs a budgeted Deficit of $47,672. However, for the year-to-date through September, revenues are $49,000 over budget and expenses are $10,000 under budget resulting in an Operating surplus of $12,365 vs a budgeted deficit of $45,569. This wonderful surplus is the result of some large annual pledges being fully paid earlier in the year and some very generous “Undesignated Gifts”.
Budget vs. Actual for the Third Quarter
Total pledges for 2022 are $745,000, about the same as last year. We are very encouraged by the number of new members and interested candidates plus the continued generosity of our current members. We are optimistic that our pledge levels will soon grow to former pre-covid levels.
Pledge Income for the third quarter was $140,793, down from the second quarter. This decline was expected during the summer months. Year-to-date pledge income is $555,000 which is 75% of our total pledge, right on track as we’re 75% through the year. We anticipate a rebound in giving during the fourth quarter and will hopefully equal or exceed our total pledge income goal for the year.
Building Maintenance Projects
As you’re probably aware, All Saints undertook two large maintenance projects this past summer, an exterior repair/painting project and a roof replacement project. The roof replacement is completed and the painting project is nearing completion. The cost for the two projects will probably be about $120,000, somewhat over our initial estimates because of additional repairs needed. Funds have been provided through our Building Maintenance Reserves and have not negatively impacted our expenditures for worship, music, education, pastoral care and outreach/social justice. It was wonderful to be able to rely on our Reserves to pay for these needed repairs, but these activities have seriously depleted the Reserve funds. If you would like to contribute to rebuilding the Reserve balances, please send us a check payable to All Saints and indicate Building Reserves in the memo line.
Pledges paid by quarter in 2022
Budget vs. Actual for the Year-to-Date
Distribution of Annual Giving