CLF Financial Highlights
Full Year 2003
Fellow Members - - Heartiest congratulations! WE DID IT!
The fourth quarter and full year financial results are in
and the bottom line shows that not only were we able to balance
our budget of about $450,000, but also there was a small surplus
of almost $5,000 in 2003.
Your (and my) contributions to our Church reached an all
time high of $225,000! In addition, jewelry sales, our third
largest revenue contributor (after your contributions and
the draw on the endowment) were near record levels and produced
a profit of $30,000. Costs were kept under control as we continued
to provide services to our members. As you may know, the Board
has begun a thorough assessment of all current programs and
services in order to examine precisely all of what we do,
how we do it and how we may do it better. This is an ongoing
process, the results of which will be publicized to all members
as decisions are reached. In the meantime, rejoice in the
financial success of our Church.
By the way even the market was good to us in 2003. The value
of our endowment grew from $802,000 on December 31, 2002 to
$875,000 on December 31, 2003!
What a great story! We should all be proud of what was accomplished
in 2003, directly as a result of your continuing generous
financial support.
THANK YOU !
Below is a detailed schedule of the 2003 financial results
compared to the budget.
John R. Lees
Treasurer and Board Member
CHURCH OF THE LARGER FELLOWSHIP
Final Report of Financial Operations
Calendar Year 2003 |
| INCOME |
Actual |
Budget |
Actual
M/(L) Favorable
Than Budget |
| Member Contributions |
 |
|
224,937 |
|
|
215,000 |
|
|
9,937 |
|
| Sponsors & Non Ministers |
|
2,205 |
|
2,000 |
|
205 |
| Ministers/Associate Members |
|
3,285 |
|
2,500 |
|
785 |
| Annual
Program Fund |
|
8,925 |
|
8,000 |
|
925 |
| Church on Loan: |
|
|
|
|
|
|
| Subscriptions |
6,510 |
|
5,000 |
|
1,510 |
|
| Grants |
20,000 |
26,510 |
12,000 |
17,000 |
8,000 |
9,510 |
| uu&me: |
|
|
|
|
|
|
| Individual Subscriptions |
8,024 |
|
10,000 |
|
(1,976) |
|
| Bulk Subscriptions |
6,311 |
|
6,000 |
|
311 |
|
| Grants |
22,060 |
36,395 |
15,000 |
31,000 |
7,060 |
5,395 |
| Student Service |
|
245 |
|
1,000 |
|
(755) |
| Order Of Service Covers/Books |
|
5,837 |
|
4,000 |
|
1,837 |
| Jewelry Sales |
|
62,893 |
|
50,000 |
|
12,893 |
| Dividend and Interest Income |
|
9,299 |
|
11,000 |
|
(1,701) |
| Miscellaneous Income & Grants |
|
7,088 |
|
20,000 |
|
(12,912) |
| Bequests and Gifts |
|
3,026 |
|
- |
|
3,026 |
| Draw on Investments |
|
67,563 |
|
67,563 |
|
- |
| Contingency |
|
- |
|
20,000 |
|
(20,000) |
|
|
|
|
458,208 |
|
|
449,063 |
|
|
9,145 |
|
|
|
| EXPENSES |
Actual |
Budget |
Actual
M/(L) Favorable
Than Budget |
| Salaries: |
|
|
|
|
|
|
| Minister |
|
68,114 |
|
|
67,614 |
|
|
(500) |
|
|
| Cyberminister |
3,792 |
|
- |
|
(3,792) |
|
| Prison Ministry Director |
740 |
|
- |
|
(740) |
|
| Business Administrator |
49,328 |
|
48,928 |
|
(400) |
|
| Religious Education Director |
8,400 |
|
9,600 |
|
1,200 |
|
| Membership Administrator |
30,541 |
|
33,092 |
|
2,551 |
|
| Bookkeeper/Accounting |
26,213 |
|
23,217 |
|
(2,996) |
|
| Librarian/Administrative Assistant |
13,767 |
|
13,767 |
|
- |
|
| Ministerial Intern |
4,750 |
|
5,000 |
|
250 |
|
| Web Designer |
1,742 |
207,387 |
- |
201,218 |
(1,742) |
(6,169) |
| Benefits: |
|
|
|
|
|
|
| FICA |
10,471 |
|
10,378 |
|
(93) |
|
| Life Insurance |
772 |
|
936 |
|
164 |
|
| Pension Plan Contribution |
12,880 |
24,123 |
12,754 |
24,068 |
(126) |
(55) |
| Indep Contractors/Outsourced Activities |
|
|
|
|
|
|
| Temporary Office Help |
7,988 |
|
6,510 |
|
(1,478) |
|
| Editing & Writing Consultants |
4,865 |
|
5,635 |
|
770 |
|
| Design Consultants |
12,281 |
|
12,750 |
|
469 |
|
| uu&me Managing Editor |
26,004 |
|
26,004 |
|
- |
|
| Circulation Services |
3,396 |
|
3,396 |
|
- |
|
| Website Design & Support |
184 |
54,718 |
4,152 |
58,447 |
3,968 |
3,729 |
| Advertising |
|
6,296 |
|
2,606 |
|
(3,690) |
| Annual Program Fund |
|
11,348 |
|
11,346 |
|
(2) |
| Bank & Credit Card Fees |
|
4,340 |
|
3,500 |
|
(840) |
| Board and Committee Expenses |
|
10,601 |
|
9,000 |
|
(1,601) |
| Bulk & 1st Class Mail Preparation |
|
7,997 |
|
8,250 |
|
253 |
| Jewelry: |
|
|
|
|
|
|
| Commissions |
12,991 |
|
12,500 |
|
(491) |
|
| Cost of Goods Sold |
15,133 |
|
12,000 |
|
(3,133) |
|
| Postage, Shipping and Handling |
4,542 |
32,666 |
5,500 |
30,000 |
958 |
(2,666) |
| Equipment Rental and Maintenance |
|
675 |
|
500 |
|
(175) |
| General Assembly |
|
5,048 |
|
3,000 |
|
(2,048) |
| Gifts and Donations |
|
82 |
|
- |
|
(82) |
| Library/Pamphlets |
|
349 |
|
400 |
|
51 |
| Postage |
|
19,775 |
|
20,412 |
|
637 |
| Printing and Production |
|
38,967 |
|
39,450 |
|
483 |
| Professional Development |
|
6,003 |
|
6,000 |
|
(3) |
| Promotional/Printing |
|
- |
|
900 |
|
900 |
| Rent |
|
11,082 |
|
13,296 |
|
2,214 |
| Staff Expenses |
|
822 |
|
600 |
|
(222) |
| Supplies |
|
2,945 |
|
3,500 |
|
555 |
| Telephone |
|
2,316 |
|
2,000 |
|
(316) |
| Staff Training & Development |
|
2,189 |
|
2,700 |
|
511 |
| Capital Additions |
|
3,328 |
|
3,000 |
|
(328) |
| Uncategorized Expenses |
|
202 |
|
- |
|
(202) |
|
|
|
|
453,259 |
|
|
444,193 |
|
|
(9,066) |
|
|
| NET |
|
4,949 |
|
4,870 |
|
79 |
|
Make a Pledge
Last updated June 12, 2005
|
