2019 Total Year – Financial Results
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| Amounts in 000’s |
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| Revenue |
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Actual |
Budget |
Inc/(Dec) |
| Pledge |
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$ 1,124 |
$ 1,162 |
$ (38) |
| Non Pledge |
$ 180 |
$ 145 |
$ 35 |
| Holiday Giving |
$ 52 |
$ 45 |
$ 7 |
| Total Revenue |
$ 1,356 |
$ 1,352 |
$ 4 |
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| Expenses |
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| Prof Staff & Programs |
$ 657 |
$ 673 |
$ (16) |
| Ministry Shares |
$ 100 |
$ 99 |
$ 1 |
| Office Staff & Support Costs |
$ 422 |
$ 418 |
$ 4 |
| Facility Expenses |
$ 197 |
$ 216 |
$ (19) |
| Capital Improvement Trust |
$ 20 |
$ 20 |
$ – |
| Miscellaneous |
$ 4 |
$ 4 |
$ – |
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| Total Expenses |
$ 1,400 |
$ 1,430 |
$ (30) |
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| Operating Income/(Loss) |
$ (44) |
$ (78) |
$ 34 |
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| Endowment Grants |
$ 15 |
$ 17 |
$ (2) |
| Cash Reserve – Horizon Expenses |
$ 29 |
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| Designated Gifts |
$ 33 |
$ 22 |
$ 11 |
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| Net Income/(Loss) |
$ 33 |
$ (39) |
$ 43 |
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| **Reimburse Cash Reserve for Horizon Expenses |
$ (29) |
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| TOTAL NET INCOME/(LOSS) |
$ 4 |
$ (39) |
$ 43 |
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| Comments: |
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| For the year, Revenue totaled $1.356 million and slightly higher than budget – higher Non Pledge revenue (up $35k) and Holiday Giving (up $7 k) offset lower Pledge revenue (down $38 k). |
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| Expenses totaled $1.400 million and were $30 k lower than budget (2%). Most cost areas were under budget for the year. |
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| Operating Net Loss was funded with Endowment Grants ($14 k), Designated Gifts ($33 k) and Cash Reserve to fund Horizon expenses ($29 k). As a result, there was a surplus of $33 k for the year – $29 k was transferred back to the Cash Reserve yielding Final Net Income of $4 k. |
