Part of the dream for our ministry is to create a community center where we can serve others and worship God. This is a huge project and the financial institution we will be working with, Church Financial Resources, shared with us 5 criteria they like to be in healthy shape before going into a fundraising campaign. We need these statistics to be strong by July in order to go into the campaign this fall. Why fall? One reason is our CUP (Conditional Use Permit) to build the facility runs out a little less than a year from now. If we don’t start building by Spring 2015 then we have to go through the process again (and spend the money again). Here is where we stand on the five criteria as of the end of March.
- 30% of budget is going towards ministry.
- 74% of our 2014 budget goes to administrative costs (rent, insurance, land payment, salaries)
- 26% is dedicated to ministry
- Unless we revise the 2014 budget this number is set for the remainder of the year.
- The long term debt ratio (20 years) is at $3-5000 per attendee.
- We averaged 124 people for the month of March.
- If you take $800,000 and divide it by 124 you get $6452 per attendee.
- Meeting the budget or surpassing the budget in giving.
- Our Monthly Budget need is: 18,801.17 (225,614 divided by 12)
- Results for first quarter:
i. January Giving: $11665
ii. February Giving: $19021
iii. March Giving: $18132
- Trending upward in attendance. (Goal to hit 125 by Easter, 150 by Father’s Day, and 200 this fall)
- Avg Att: January: 114
- Avg Att: February: 113
- Avg Att: March: 124
- Note: Our church family has had a history that as soon as we hit around 130-140 in attendance (which we have a couple of times this year) our attendance doesn’t continue to go up, but rather back down to around 100. Then after a while we build back up to 140 and the cycle repeats. If we are to move into a building this pattern must cease.
- Debt to loan ratio.
- We owe a little under $60,000 on the land and the land is worth at least $170,000 giving us equity of approximately $110,000. So this number is strong.
- We can use the equity in the land as a down payment on the building.
Please continue to pray and fast for God to continue to give us wisdom and increase so we may live the dream!