By the Numbers

Financial Performance for the Fourth Quarter, 2021

Operating revenues increased about $40,000 in the fourth quarter to $204,000.  This increase was expected.  Full year revenues were $801,000 which was slightly below our budget of $816,000.  Pledge income was very close to our budget but other forms of income, particularly Loose Plate Offerings and Undesignated Offerings from weekend collections, were well below budgeted levels because of covid-related reduced attendance.  Expenses for the fourth quarter were slightly below budget and for the full year were $889,000, $20,000 below our budget. We experienced a net Operating Deficit for the year of $88,090 vs. our budgeted deficit of $93,135.  This does not include the income from the 2020 PPP loan of $101,381 and the 2021 PPP loan of $99,904.  Both loans were forgiven by the U. S. Small Business Administration in 2021 and the revenue was recognized as Extraordinary Income.  Including these Extraordinary items, we earned a surplus of $113,194 this year.

 

Pledge Income

 

Fourth quarter Pledge Income was almost $170,000, below our budget of $186,000.  For the full year of 2021, our Pledge income was about $731,000 compared to our budget of $735,000.  However, with some early 2022 payments which have been directed toward 2021 pledges, we will actually exceed our budget target.  Our pledge payment percentage is over 99%, truly phenomenal in these difficult times.  During the fourth quarter, we held our 2022 Stewardship campaign.  As of early January, our pledges for 2022 stand at $704,000.  This is short of our goal but with several weeks remaining, we are optimistic that we will once again raise close to $750,000.

Budget vs. Actual for the Fourth Quarter

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Budget vs. Actual for the Year-to-Date

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Pledges paid by quarter in 2021

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Distribution of Annual Giving

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