Free Will Baptist Church of Townsend
Financial Overview
September YTD 2010
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Cash Trend Year Over Year A) CATEGORY SUMMARY
Type Sept 10 Dec 09 ChangeGeneral $81,445 $54,657 $26,788
Cash Reserve $61,002 $61,002 $0
Designated $23,451 $33,751 ($10,300)
Building Fund $249,846 $337,194 ($87,348)
TOTAL CASH & EQUITIES $415,744 $486,604 ($70,860)
B) BOARD DESIGNATED DETAIL
# Designated Fund Sept 10 Dec 09 Change
1 NEW CHURCH $15,020 $15,020 $0
2 FINANCIAL COUNSELING $500 $500 $0
3 FLAGS $619 $793 ($174)
4 BENEVOLENCE $2,437 $8,414 ($5,977)
5 MISSIONS TRIP $20 $759 ($739)
6 OPERATION CHRISTMAS CHILD $2,455 $565 $1,889
7 SAMARITANS PURSE (Animals) $40 $640 ($600)
8 MUSIC $960 $960 $0
9 EDUCATION $0 $1,700 ($1,700)
10 NATIONAL CONFERENCE $0 $3,000 ($3,000)
11 ROOF $1,400 $1,400 $0
TOTAL CASH & EQUITIES $23,451 $33,751 ($10,300)
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Summary Income Statement
CurrentMonth
MTDVariance
Year toDate
YTDVariance
Left toSpend
2010Plan
REVENUESTithes & Offerings 48,577 11,670 397,037 21,841 511,137Other Designated Giving 21,329 21,329 127,480 127,480 0Total Revenues 69,906 32,999 524,517 149,321 511,137
EXPENSESTotal Compensation 23,420 (97) 225,925 1,126 70,850 296,775
Missions 5,902 1,528 56,953 14,329 3,139 60,092
Staff Ministry 10,463 8,780 50,194 32,845 (17,101) 33,093Lay Ministry 1,914 1,460 16,469 11,014 4,156 20,625Total Ministries Programs 12,377 10,240 66,664 43,859 (12,945) 53,718
Facilit ies 5,203 1,987 60,591 31,661 15,293 75,885Administrative 1,529 840 19,361 13,159 (3,306) 16,055Accounting & Audit Services 1,631 0 14,678 0 8,892 23,570Total Other 8,363 2,827 94,630 44,819 20,879 115,510
Total Cash Expenses 50,061 14,498 444,172 104,134 81,923 526,095
Cash Net Income 19,844 18,501 80,345 45,187 (81,923) (14,958)
Gain/Loss of Bus 0 0 (4,799) (4,799) 4,799 0Depreciation 5,187 482 46,152 3,810 10,304 56,456Accounting Adjustments 5,187 482 41,354 (988) 15,103 56,456
Total Net Income 14,657 18,019 38,991 46,175 (97,026) (71,414)
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2010 Budget Balancing Efforts
Expense Line Items 2010 Plan Funding Requests
Staff Education 1,425 231Hosting Expense 750 590Special Speaker 750 314Sunday/Wednesday Night Service 500 629Church Fellowships 909 1,000Deacon's Outreach 949 197Fire Alarm 1,200 525Missions Trip 0 1,269Gas 8,597 500Lavatory Cleaning Supplies 1,600 500Trash Removal 1,416 171Copy Right 485 138Overages 18,581 6,064
Children's Ministry 11,440 (511)Youth Group 8,759 (375)Camp 2,200 (2,200)National Convention 4,725 (1,597)Music 5,239 (524)Tape & CD Ministry 1,410 (141)Vacation Bible School 4,546 (1,246)Offsets 38,319 (6,593)
Net Position (529)
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Over The Budget Requests
Expense Line Items2010 Plan
Funding Requests Comments
Bus Maintenance 1,800 3,128 Unforeseen mechanical issues and signage for bus
Upward 0 3,600 Over 100 kids evolved with the majority non attendees
Subtotal OTB Requests 6,728
2011 Financial Overview
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What drives our Revenue?• Two major items drive our revenue
– Sunday Attendance– Giving per Attendee
• We measure how we are doing based on these two indicators
• We also take into consideration economic forecasts for the State of Delaware that will affect these indicators and trends
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TFWB 5 Year Attendance Trends
2007 2008 2009 2010 2011Average 510 522 484 462 458
% change 5.0% 2.4% (7.2%) (4.5%) (1.0%)
450
470
490
510
530
2007 2008 2009 2010 2011
Average Attendance
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Offerings Forecast2007 2008 2009 2010 2011 2012
Giving Growth % 1.9% 2.1% (10.8%) (9.7%) (2.8%) (0.6%)Attendance Growth % 5.0% 2.4% (7.2%) (4.5%) (1.0%) 1.0%Giving per Adult % (3.5%) (4.0%) (7.4%) (5.4%) (1.8%) (1.6%)
$621,179
$634,501
$565,763
$511,000
$496,776 $493,956
$450,000
$470,000
$490,000
$510,000
$530,000
$550,000
$570,000
$590,000
$610,000
$630,000
$650,000
2007 2008 2009 2010 2011 2012
TFWB Offerings
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Local Economic Trend Impacts
0.1%(0.5%)
(4.6%)
(1.2%)
1.5%
3.6%
(3.5%) (4.0%)
(7.4%)
(5.4%)
(2.7%)
(0.6%)
2007 2008 2009 2010 2011 2012
DE Employment vs Giving TrendEmployment Chg% Giving Chg %
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What is the long term outlook
Area 2010 2011 2012
Revenues 511,000 496,776 493,9561 Revenue change ($14,224) ($2,819)
2 Missions Change 51,113 (1,464) (283)
3 Benefits Insurance Increases 59,473 10,570 12,608
4 Salary & Housing 231,152 0 5,779
5 Facilities, Admin, Accounting 115,510 3,000 1,000
6 Programs 50,924 (5,330) 0
Total Change 508,172 6,776 19,103
Amount Funded from Savings 21,000 42,923
Changes to 2010
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What are the options for 2011
1. Lay off a Pastor
2. Lay off an administrative staff member and/or cut programs
3. Cut all program funding in half
4. Fund the shortfall out of savings with some program reductions
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What is the Board of Directors recommendations
4) Fund the shortfall out of savings with some program reductions
Giving us the church the best opportunity to grow out of its current situation
Realizing that God has blessed us with the store house of money to be used in such a time as this
Allows for us to see God’s hand at work and perform a miracle
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What are the options for 2012 if the current trends continue
1. Lay off a Pastor
2. Taking savings to zero
2011 Proposed Budget
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Staff & Related Expense
Budget Proposed2010 2011 10 vs 11 %
TOTAL SALARY & HOUSING $231,152 $231,152 $0 0.0%
TOTAL BENEFITS $59,473 $70,043 $10,570 17.8%
STAFF SUPPORTNational Convention $1,725 $1,725 $0 0.0%TOTAL STAFF SUPPORT $1,725 $1,725 $0 0.0%
1. Healthcare cost continue to climb by 18%
2. Salaries are held flat
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Staff MinistriesBudget Proposed
2010 2011 10 vs 11 %
STAFF MINISTRIESCamp $2,200 $1,200 ($1,000) (45.5%)Children's Ministry (includes Upward) $10,800 $11,166 $366 3.4%Counseling Education $1,300 $1,224 ($76) (5.9%)Hosting Expense $750 $706 ($44) (5.9%)Marriage & Family Therapy $3,394 $3,195 ($199) (5.9%)Special Speaker $750 $706 ($44) (5.9%)Sunday / Wednesday Night Service $500 $471 ($29) (5.9%)Sunday School $4,000 $3,765 ($235) (5.9%)Teen Ministry $8,000 $7,530 ($470) (5.9%)TOTAL STAFF MINISTRIES $31,694 $29,962 ($1,732) (5.5%)
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Home & Foreign MissionsBudget Proposed
2010 2011 10 vs 11 %
MISSIONSForeign Missionaries (10 year commitment)Anthony Edgemon (2015) $2,000 $2,000 $0 0.0%Jeff Turnbough (2011) $2,000 $0 ($2,000) (100.0%)Matthew & Brooke Turnbough (2020) $2,000 $2,000 $0 0.0%Indigenous Missionaries $2,400 $2,400 $0 0.0%Operation Christmas Child $2,000 $3,500 $1,500 75.0%Wycliffe Bible Translators $494 $1,000 $506 102.4%New Missions Haiti $2,000 $2,000 $0 0.0%Subtotal Foreign $12,894 $12,900 $6 0.0%
Home Missionaries (3 year commitment)Alan Hall - York (2012) $2,000 $2,000 $0 0.0%Bill Reynolds (2013) $2,000 $1,000 ($1,000) (50.0%)Brian Williams (2012) $2,000 $2,000 $0 0.0%Dana Booth (2013) $2,000 $1,000 ($1,000) (50.0%)Jay Merritt (2011) $2,000 $0 ($2,000) (100.0%)Nate Merritt (2013) $0 $2,000 $2,000 100.0%John Holland -EE Missionary (2013) $900 $1,000 $100 11.1%New Church Seed Money $1,200 $1,200 $0 0.0%Rachael Atwood -Campus Crusade (2012) $2,000 $2,000 $0 0.0%Tommy Jones - Pittsburg (2012) $2,000 $1,000 ($1,000) (50.0%)Subtotal Home $16,100 $13,200 ($2,900) (18.0%)
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Organizational Missions Budget Proposed
2010 2011 10 vs 11 %
Organizational Missions (review yearly)Benevolence $6,794 $7,000 $206 3.0%Amazing Grace Ministries $1,083 $1,000 ($83) (7.7%)Door of Hope $1,083 $1,000 ($83) (7.7%)NFWB Foreign Missions $3,244 $4,400 $1,156 35.6%NFWB Home Missions $3,244 $4,400 $1,156 35.6%Inter Varsity $232 $0 ($232) (100.0%)Liberty Baptist Fellowship $1,008 $1,200 $192 19.0%Mid Atlantic Conference $1,443 $1,200 ($243) (16.8%)Townsend Fire Company $215 $200 ($15) (7.0%)Youth for Christ $3,773 $3,200 ($573) (15.2%)Subtotal Organizational $22,119 $23,600 $1,481 6.7%
TOTAL MISSIONS $51,113 $49,700 ($1,413) (2.8%)
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Lay MinistriesBudget Proposed
2010 2011 10 vs 11 %
LAY MINISTRY PROGRAMSChurch Fellowships $909 $1,606 $697 76.6%College & Career Ministries $318 $299 ($19) (5.9%)Deacon's Outreach $949 $893 ($56) (5.9%)Decorating Committee $682 $645 ($37) (5.4%)Faith Evangelism / EE Training $500 $471 ($29) (5.9%)Ladies Ministries $3,140 $2,956 ($184) (5.9%)Men's Ministries $649 $1,242 $593 91.4%Music $5,239 $1,800 ($3,439) (65.6%)Tape & CD Ministry $1,410 $1,327 ($83) (5.9%)Vacation Bible School $4,546 $3,046 ($1,500) (33.0%)Visitor Ministry (reception & welcome package) $823 $775 ($48) (5.9%)TOTAL LAY MINISTRY PROGRAMS $19,165 $15,060 ($4,105) (21.4%)
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Facilities ExpenseBudget Proposed
2010 2011 10 vs 11 %
FACILITIESBuilding Maintenance $9,700 $9,700 $0 0.0%Church Insurance $9,514 $9,514 $0 0.0%Custodian $15,538 $15,538 $0 0.0%Electric $15,500 $15,500 $0 0.0%Fire Alarm $1,200 $1,200 $0 0.0%Gas $8,597 $8,597 $0 0.0%Grounds $5,500 $5,500 $0 0.0%Kitchen Supplies $1,200 $1,200 $0 0.0%Lavatory Cleaning Supplies $1,600 $1,600 $0 0.0%Parking Lot Lease $3,000 $3,000 $0 0.0%Phone / Internet $3,120 $3,020 ($100) (3.2%)Trash Removal $1,416 $2,216 $800 56.5%TOTAL FACILITIES $75,885 $76,585 $700 0.9%
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Admin & Other Expenses
ADMINISTRATIVEAdvertisement $1,500 $1,500 $0 0.0%Bulletins $500 $500 $0 0.0%Bus Maintenance $800 $3,724 $2,924 365.5%Copier Lease/Supplies/Main $8,270 $8,270 $0 0.0%Copy Right $485 $485 $0 0.0%Newsletters $200 $200 $0 0.0%Office Supplies/Improvements $4,300 $2,300 ($2,000) (46.5%)TOTAL ADMINISTRATIVE $16,055 $16,979 $924 5.8%
Accounting & Audit Services $23,570 $26,570 $3,000 12.7%Financial Services $23,570 $26,570 $3,000 12.7%
Budget Proposed2010 2011 10 vs 11 %
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Bottom Line TotalsBudget Proposed
2010 2011 10 vs 11 %
Cash Sub-Total $509,832 $517,775 $7,944 1.6%
Depreciation $56,456 $56,456 $0 0.0%Gain/Loss on Disposal of Asset $0 $0 $0 0.0%Accounting Adjustments $56,456 $56,456 $0 0.0%
TOTAL EXPENSES $566,288 $574,231 $7,944 1.4%
Tithes & Offerings $511,000 $496,776Cash Net Income $1,168 ($21,000)
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