CLF Financial Highlights
2004 Actuals and 2005 Budget
Fellow Members - WE DID IT - AGAIN! For the calendar year 2004, we not
only made budget but also produced a small surplus. Congratulations!!
The final results for 2004 and the Board-approved budget for 2005 are listed
below. The fine results for 2004 were achieved mainly through your generosity
in supporting the work of our church with your financial contributions. Those
contributions in '04 reached an all time high of $238,000, up an impressive
6% over the prior year's $225,000. Needless to say, our direct financial support
is critical to the success of our church as it represents over one-half of our
operating income.
You may notice some new items in these financial statements. For reporting
purposes we have now combined the net result from the sales of jewelry, order-of-service
covers and notes & cards into a new heading in the revenue section called
"Fundraising Sales". These activities are becoming an increasingly
important revenue generator for us, contributing about 8% of our total income.
Other changes to the financial statements occur in the Rent Expense and Annual
Program Fund (APF) lines. As you may know, the Church's offices are on the bottom
floor in the UUA headquarters at 25 Beacon Street in Boston and we had been
paying rent to them for the use of these facilities. However, a negotiation
with the UUA early last year resulted in an agreement to stop paying rent in
return for a contribution to the APF equal to 4.2% of expenses. (This is the
same formula that applies to other large congregations and 2004 was a transition
year for those items.) Therefore, in 2005 nothing is budgeted for rent and there
is an apparent large increase in APF expense.
You will also notice a new line item in the 2005 budget called "Second
Offerings". We have launched a new initiative to encourage certain churches
to promote the CLF during a Sunday service and then take a second offering specifically
for the CLF. If successful, over time, this may become a significant source
of new revenue.
On the Endowment front, the CLF was blessed by having been named a beneficiary
in the will of Charles D. Otto. When his estate is settled, it is expected we
may receive upwards of $400,000. Last June we received a partial distribution
of $200,000 which was added to the Endowment Fund, allowing our portfolio to
stand at about $1.1 million at year end 2004. As you are able, we encourage
all our members to follow Mr. Otto's fine example of naming the CLF in their
will. There is much information available in the office of the Executive Director,
Lorraine Dennis, about the various ways to accomplish that.
Note that the 2005 budget assumes a further increase in Member Contributions
(the backbone of our financial plan) to $246,000, a 3.4% increase over last
year. I KNOW WE CAN DO IT!
John R. Lees
Treasurer and Board Member
Church of the Larger Fellowship
| INCOME |
 |
2004 Actuals |
|
2005 Budget |
| Member Contributions |
|
238,072
|
|
246,000 |
| Sponsors & Non Members |
1,615 |
2,000 |
| Ministers & Associate Members |
5,550 |
4,000 |
| APF |
7,143 |
8,000 |
| Second Offerings |
--- |
3,000 |
| Fundraising Sales |
35,294 |
30,000 |
| Church on Loan |
22,040 |
17,000 |
| uu&me! |
26,630 |
20,000 |
| Student Services |
315 |
1,000 |
| Dividend & Interest Income |
9,278 |
14,000 |
| Miscellaneous Income & Grants |
18,108 |
25,000 |
| Draw on Endowment |
56,395 |
51,216 |
| Bequests and Gifts |
2,141 |
--- |
| Contingency |
--- |
4,026 |
|
|
|
422,581 |
|
425,242 |
|
|
|
| EXPENSES |
|
2004 Actuals |
|
2005 Budget |
| Staff Salaries and Benefits |
|
260,074 |
|
283,898 |
| Temporary Office Help |
3,444 |
3,000 |
| Editing & Writing Consultant |
4,516 |
4,700 |
| Design Consultants |
11,325 |
8,750 |
| uu&me! Managing Editor |
22,700 |
12,000 |
| Advertising |
5,282 |
4,000 |
| APF |
6,071 |
16,832 |
| Bank & Credit Card Fees |
4,530 |
3,500 |
| Board and Committee Expenses |
12,113 |
10,000 |
| Bulk & First Class Mail Preparation |
8,203 |
8,000 |
| Equipment Rental & Maintenance |
127 |
500
|
| General Assembly |
8,458 |
6,500 |
| Gifts and Donations |
549 |
--- |
| Library/pamphlets/packet matter |
526 |
600 |
| Postage |
20,113 |
18,912 |
| Printing & Production |
27,259 |
26,450 |
| Professional Development Expenses |
8,180 |
6,800 |
| Rent |
1,847 |
--- |
| Staff Expenses |
943 |
600 |
| Supplies |
2,695
|
3,500 |
| Telephone |
1,919
|
2,000 |
| Staff Development |
1,672
|
1,700 |
| Capital Additions |
3,183 |
3,000 |
| Sabbatical Expenses |
2,316 |
--- |
| Web Site Fees & Redesign |
651 |
--- |
| Miscellaneous |
640 |
--- |
|
|
|
419,336
|
|
425,242 |
|
|
| SURPLUS / (DEFICIT)
|
|
3,245 |
|
0 |
|
Make a Pledge
Last updated June 12, 2005
|
