2007/2008 Centenary United Methodist Church Financial Report

R. Mark King

It is my pleasure to offer a snapshot of Centenary's 2007 financial picture for the year end.  2007 was a tremendous year for giving for Centenary.  While it is increasingly obvious to many that ministries and programs are alive and humming at Centenary, the fruit comes from changed lives and dynamic discipleship.  And with such, comes people giving to Christ and the church because they see it make such an impact. 

For 2007, we received $256,119 more in contributions that in 2006 and $192,240 than we budgeted.  Again in 2007, we received $363,776 in total income over 2006 and $210,569 more than we budgeted.  The good news of that is we are able to put an additional $186,164 toward ministry needs, facility enhancement and program expansion in keeping with the Strategic Plan.  How exciting is that?

2007 Annual Operating Financial Report
	2005	2006	2007	Difference 06-07
Pledged Contributions	$        3,093,229	$      3,174,884	$      3,431,003	$          256,119
All Other Income	$        1,360,654	$      1,379,939	$      1,487,596	$          107,657
Total Receipts	$        4,453,883	$      4,554,823	$      4,918,599	$          363,776
Total Expenditures	$        4,344,443	$      4,372,056	$      4,732,435	$          360,379
Income Over Expenses	$           109,440	$         182,767	$         186,164	$             3,397
Set Aside for Savings	$             90,000	$           60,000	TBD
Set Aside for Next Yr Budget	$             19,440	$           22,000	TBD
Set Aside for Ministry Projects	.	$         100,767	TBD

For 2008, we have pledges totaling $3,132,119, an increase of $82,221 over 2007.  You can also see on the grid below the totals of our wonderful increases and new pledging units.  Why do we have 169 less pledging units this year than in 2007?  This is primarily because if you tell us you intend to pledge $0, we still mark that as a pledge.  2008 has far less people indicating they will pledge $0. 

2008 Annual Operating Pledge Report
	2006	2007	2008	Difference 07-08
Pledges	$        3,009,454	$      3,049,898	$      3,132,119	$            82,221
Number of Pledges	1278	1313	1144	-169
273 pledges increased over last year at a gain of $211,651
44 new pledges totalling $97,075
103 pledges decreased over last year at a loss of $140,795

Finally, we need to inform you on the status of the Building On A Sure Foundation Capital Campaign.  We still have $530,971 to collect in pledges by the time the campaign ends in December, 2008.  The majority of that comes from remaining 2007 and 2008 pledges.  If we are able to completely receive all pledges, we can complete the renovations to the sanctuary and fully repay what is owed to ourselves by way of the Centenary Fund (Centenary's Endowment).  We are so glad to report and celebrate that all outside debts and bank loans are fully paid off.


Capital Campaign Pledge Report

	Active Pledges	Collected	Difference	# Pledges
				Outstanding
2003	$           832,659	$         832,659	$                   -	0
2004	$        1,847,590	$      1,836,550	$           11,040	15
2005	$        1,240,817	$      1,209,902	$           30,915	32
2006	$        1,102,207	$      1,054,187	$           48,020	43
2007	$           925,519	$         792,276	$         133,243	111
2008 (prepaid)	$           401,742	$           93,989	$         307,753	257
TOTAL	$        6,350,534	$      5,819,563	$         530,971	458	*
*Duplicating number

Good stewards are not born – they are cultivated, encouraged, challenged and deployed.  As a Methodist minister and directly charged with the stewardship area of church life, I am unapologetic in challenging God's people to give and to give generously and abundantly.  We don't give our hard earned funds to budgets, to paper, to salaries, to programs or to missions.  We give to God and allow God to use the church and its ministry to make a difference all around us.  You were a part of that in 2007.  You are a part of that in 2008.  Some might say, wow, we have ample reserves and Centenary is so large, it can do without my giving.  DON'T YOU DARE!  God continues to be faithful to every single one of us and deserves our response of gratitude.  Some might say 2008 is shaping up to be a tough year and maybe giving is an area to hold back.  DON'T YOU DARE!  God does not hold back from us and regardless, some how, some way, God always comes through.  I have not been able to sale my former home in Charlotte but I will continue to give my check week in and week out.  It is what I must do.  It is what we must all do.

God has been so good to Centenary.  It is so obvious in our history, our membership, our staff and leadership and in our stewardship.  May we not waver now but go on to greater opportunities and bigger dreams.