2nd Quarter Financial Report
Dear FUMC Member or Constituent,
Your First Church Finance Committee is pleased to provide you with this brief update on church finances.
Summary of FUMC finances as of June 30, 2024:
General Finance Notes
2024 Pledge Campaign Goal: $840,000
2024 Pledges Committed: $862,696
During the first six months of 2024, pledges received (Figure 1, Column 2) totaled $529,726 or just 61% of pledges committed for the year. This is technically ahead of budget for the year. Thank you for making it a priority to keep up with your pledge commitments.
Non-pledged giving YTD (Figure 1, Column 3) at $64,968 is nearly 40% behind where we should be ($107,677) at this point in the year. There are several possible reasons for this variance including a more successful conversion of unpledged to pledged giving in 2024. This is a trend that will be monitored for the remainder of 2024.
Lastly, facility rental income and other income (Figure 1, Column 4 & 5) are both ahead of budget.
In summary, overall church income (Figure 1, Column 1) exceeds budget by $56,077 as of June 30, 2024.
Figure 1: YTD Income vs. Budget
Turning to expenses, TYD expenses are under bidget, tracking to within 0.5% of budget despite some unexpected expense overruns earlier in the year. We anticipate that espenses should remain on or under budget for the remainder of the year.
Figure 2: YTD Expenses vs. Budget
Finance Commentary
So far 2024 stands in stark contract to 2023 where we were already experiencing income challenges and ended the year with the most significant overall budget shortfalls in recent years. Thanks to the overwhelming support for the 2024 stewardship campaign both in pledges committed and pledges fulfilled YTD, we are able to meet our financial commitments and plan for the future. Thank you!
Despite this good news, there are still ways you can help!
If you have submitted a 2024 pledge, please check your Q2 statement that you recently received via email or letter. Are you current or have you perhaps fallen behind? If you did not receive a Q2 statement, please contact the church office.
If you have not automated your giving, please consider doing it now. A consistent source of giving is incredibly vital to the work of this congregation. Visit https://fumcpdx.org/give/ for more details.
If you have not pledged, it’s not too late to support the work of this community. Pledged giving, even in small amounts given consistently, greatly enhances our ability to plan further into the future and make commitments to supporting the vital spiritual and physical needs of our community.
Questions?
If you have any questions about the church budget or need assistance with establishing your planned giving, please contact the FUMC church office.
Respectfully,
FUMC Finance Committee