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Historical page · See current announcements for what is happening now.
Submit your 2023-2024 Financial Packet questions BELOW:
Submit your 2023-2024 Financial Packet questions BELOW:
Thank you for taking the time to review our 2023-2024 Financial Packet. Please submit your questions by filling out the form.
Allowing us to answer your questions this week will enable us to use our time wisely during the Annual Celebration & Vision Meeting. Hearing your questions in advance might also serve to help us know what matters can be more thoroughly addressed in the meeting.
In our August 2023 Election Meeting, we revisited Alvin’s remarks from the 2023 Annual Vision Meeting about the 2023 budget not including staff raises but considered periodic bonuses based on giving. We were pleased to announce that, thanks to generousity, we awarded two bonuses to staff, at that time, equivalent to an average 2.5% earnings increase. Additionally, the Elders have since granted one extra bonus, bringing the total average increase in earnings to 4.5%. We’re thankful for the Lord’s provision through your generosity.
The increase in total giving from 2022 to 2023, as observed on p.2, was not due to large one-time gifts like those we received in 2020. Instead, this increase can be attributed more to a rise in per capita giving among our attendees and a restoration of pre-pandemic attendance numbers. Looking at the average attendance and per capita giving, we can observe the following:
We believe this increase in per capita giving, coupled with the rise in attendance, led to the total giving reaching $1,380,123.89 in 2023. ***It’s important to note that this quick analysis does not distinguish between attended and donor, and are annual numbers.***
The P.I.A. (Pastoral Intern Account) is an account that is up for annual reevaluation by the elders and funding recipients each spring. Upon approval, this account is re-authorized for further funding from the General Fund reserves.
Wherever the 2024 budget exceeds or falls below the amount spent in 2023 can be interpreted as either a preservation of necessary on-budget contingency funds or a modest streamlining of on-budget contingency funds to provide a clearer picture of the essential funding needed by each area of ministry.
To view a comparison of year-over-year budget increases or decreases, please see the “2023 Budget vs. 2024 Budget” document on pages 21-22.
5000 – SALARY & 5010 HOUSING ALLOWANCE: In our budget accounts, under 5000 – SALARY, we observed unspent funds primarily due to adjustments in a salaried pastor’s housing allowance. This adjustment resulted in an over-budget in 5010 – HOUSING ALLOWANCE. Furthermore, some hourly employees worked fewer hours than we initially planned for, leading to unspent funds in the salary budget. This reduction in hours worked also affected the allocation of benefits to hourly staff, both administrative and pastoral, which is reflected in the underutilization of funds in 5000 – SALARY. This pattern extended to 5030 – CASH FRINGE BENEFITS in certain cases. Additionally, we allocated more funds than necessary for childcare workers, contributing to the unspent budget in these categories.
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 vision mentioned on page 18. This difference arises from the inclusion of anticipated expenses from the General Fund Reserve as part of our comprehensive 2024 Financial Vision. More information about this extra allocation from the General Fund Reserve can be found in the first footnote in the 2023 Budget vs. 2024 Budget.
Yes. As a matter of fact, here’s a breakdown of what our average attendance has looked like since 2016:
Lord willing, we expect our average attendance to continue climbing back towards pre-pandemic levels.
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 ministers gross salary can be designated as housing allowance as so much 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, 2021)”
Sommerville, E. L. (2021). In Church Compensation: From Strategic Plan to Compliance (2nd ed., pp. 156–156). Book, Christianity Today International.