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Financial Packet
Review the financial packet and submit your questions ahead of the Annual Celebration and Vision Meeting.
Thank you for taking the time to review our financial packet. Please submit your questions by filling out the form below.
Submitting questions ahead of time helps us prepare thoughtful answers and make the most of our Annual Celebration and Vision Meeting.
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FAQ
Take a look at some questions that have already been answered.
Yes, the $65,395 collected in December during the 2025 Gifts for Jesus offering is included in the total 2025 contributions to the Agape Fund ($139,070).
Great question! Doing so provides us flexibility to support efforts or ministries in addition to missions or missionaries. For example, some years ago the New Generations Boys Home in Tijuana Mexico was one of the recipients of the Gifts for Jesus offering.
Please be aware that the General Fund total presented in the chart is different from the General Fund operating budget. This difference arises from the inclusion of anticipated expenses from the General Fund Reserve as part of our comprehensive 2026 Financial Vision.
The 2025 ending balance of the Missions Vision Fund, is strongly affected by atypical giving activity in 2024. 2024 was an unusually high giving year because of increased giving tied to the Team Philippines trip during the first half of the year. Additionally, there was a significant one-time gift late in the year which elevated the year-end balance. 2025 did not include a comparable trip/promotion cycle. The fund also absorbed a major missions launch expense (helping get “ST” to the field), along with a planned shift in how some missions dollars were routed to support her ministry on the General Fund budget. So the balance “drop” is mostly the normalization after a unique 2024 year.
Absolutely. They just need to send an amount of what they are thinking over to Wade/Rosemary and Pastor Mike Berry (mikeb@cornerstonebible.org).
Yes. Average attendance since 2016:
Lord willing, we expect our average attendance to continue climbing back towards pre-pandemic levels.
Staff bonuses are not budgeted for in advance. This is intentional, as there are several variables that must be evaluated after the year’s financial results are largely known.
Decisions regarding bonuses and staff performance are discussed within the Finance Sub-Committee, which is comprised primarily of non-staff elders.
In short, bonuses, when given, are discretionary, evaluated carefully, and determined in light of both financial stewardship and congregational donations.
Salary Reductions usually refer to voluntary 403(b) retirement contributions. When staff choose to put more into retirement, it reduces taxable salaries and shifts the budget accordingly. Cash Fringe Benefits reflect the SECA (Self-Employment Contributions Act) tax offset. Because our employees are classified as self-employed for tax purposes, Cornerstone offers a benefit matching the "employer share" of those Social Security and Medicare taxes.
The housing allowance for ministers is designed to cover housing expenses without creating church-state entanglement. It originated in 1921 and was expanded in 1954 to equalize treatment for ministers, whether provided a home by the church or owning one. A portion of a minister's gross salary can be designated as housing allowance as long as it aligns with costs relating to their housing. Quoting from "Church Compensation: From Strategic Plan to Compliance," by Elaine L. Sommerville: "Under IRC Section 107(1), a minister may be provided a parsonage for his [...] use. Under IRC Section 107(2), the minister may request a portion of his [...] compensation package to be designated as a housing allowance. Either the parsonage or the housing allowance is desirable because of the beneficial tax provisions. Federal Income Tax. The housing allowance, subject to certain limitations, is excluded from federal income tax. Additionally, even though mortgage interest and taxes may be paid with the housing allowance, a minister may still claim these items as itemized deductions on Schedule A of his or her Form 1040. The ability to pay these items with tax-free dollars and still claim them as a deduction is commonly referred to as the "double deduction." The annual fair rental value of a church-provided parsonage is excluded from federal income tax..." Sommerville, E. L. (2021). In Church Compensation: From Strategic Plan to Compliance (2nd ed., pp. 156-156). Book, Christianity Today International.
Figures 1, 3, and 4 present both total activity across all church funds and activity within the General Fund alone. The General Fund represents the primary operating fund of Cornerstone. Note that additional donor-restricted and board-restricted funds account for the difference between General Fund totals and all-fund totals.
Revenue (Inflow): Total revenue received across all funds in 2025 was $1,599,123, compared to General Fund offerings of $1,412,442. The resulting difference of $186,681 reflects direct donor giving that was designated to funds other than the General Fund. This difference can be fully reconciled by summing direct inflows to the following funds:
Agape Fund: $139,070
Missions Vision Fund: $42,989
Capital Growth Fund: $4,623
Total non–General Fund direct giving: $186,681 ($186,682 w/rounding)
Investment income, and ministry-related program income are included in total revenue and reported within the General Fund.
Expenditures (Outflow): Total expenditures across all funds in 2025 were $1,658,885, compared to General Fund expenditures of $1,445,312. The resulting difference of $192,745 reflects expenses recorded in donor-restricted and board-restricted funds outside the General Fund. This difference can be fully reconciled by summing expenditures from the following accounts:
Agape Fund: $96,312
Mission Vision Fund: $60,286
Pastoral Intern Account: $19,770
Equipment, Furnishings & Replacement Account (EFRA): $3,578
Capital Improvements Account (net after reimbursements): $12,799
Total non–General Fund expenditures: $192,745
No. Donor-restricted funds are used only for their intended purposes. Funds given to Missions, Agape, or Capital projects cannot be redirected to General Fund operations.
Multiple funds allow Cornerstone to honor donor intent, plan responsibly, and report clearly on how different types of ministry are supported.
Reserve funds were used intentionally for one-time purposes or transitional needs, not because of a shortfall. In 2025, this included the continued financial onboarding of the compensation package for the Pastor of Family and Student Ministries. It also included staff bonuses.
Many ministries collect program-specific income (retreats, events, registrations) that offsets expenses. When both income and expenses are considered together, most ministries operate within or below their intended funding levels.
Questions
Submit your questions in advance so we can respond clearly during the Annual Celebration and Vision Meeting.