Second Quarter Finance 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, 2022:
General Finance Notes
From January through June, the gap between pledges received and pledge budget (Figure 1 first column) continued to widen. At the end of Q1-2022, the budget shortfall stood at $95,000. In Q2-2022, the gap grew to $139,000 – a shortfall of nearly 35% year to date. The magnitude of this budget deficit is unparalleled in recent FUMC history. The gap in non-pledged giving (Figure 1 second column) also grew in Q2 based on equal distribution of budget across all quarters, but not as significantly as pledged contributions. This trend likewise departed from prior years when strong cash contributions during the Lenten/Easter season eliminated gaps or pushed budgets ahead of forecast. A strong return to in-person worship attendance as we head into Fall and the Advent/Christmas season giving may help to close this deficit.
Expenses during the first half of 2022 (Figure 2) remained under budget by slightly more than $100,000. This is due in part to very careful management of spending and a slow resumption of program spending correlated with an easing of COVID-related precautions and a return to in-person gatherings. The intention has been to return to near pre-pandemic levels of ministry programming across children/family, adult, and outreach ministries beginning this Fall, which would likely adsorb this surplus.
How we can help each other…
We understand it has been a difficult year for many individuals and families. Macro-economic trends including unprecedented inflation have undoubtedly challenged personal finances and may be at least partially responsible for departures from planned giving. If you have been impacted and feel that you are unable to fulfill your current pledge commitment or wish to revise your pledge, please contact the church office. Your communication will help us plan appropriately for the remainder of 2022 and beyond.
Please double-check your pledge status against your estimated 2022 pledge using your Q2-2022 giving report which you should have received in the last few weeks. If your giving is via a checking account or a credit card, check to see that the recurring transactions are still “active.” In some instances, these are automatically set to expire at the end of a calendar year or after a certain number of transactions have been processed or pause upon the expiration of a credit card. Please prayerfully consider… are you capable of increasing your 2022 pledge?
If you’ve made a 2022 pledge and have not set up automatic monthly giving, please visit fumcpdx.org/give/ to establish automatic, recurring transfers. Automatic giving is easy to set up via a checking or savings account (preferred) or credit card. Doing so helps provide a consistent base of support for our church and smooths out the natural inconsistency of unplanned giving.
It’s never too late to support the work of this congregation! 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 at 503.228.3195 / office@fumcpdx.org.
Respectfully,
FUMC Finance Committee