February 2018 Financial Overview

Transcription

1 February 2018 Financial Overview 1

2 Village Bible Church 1 Church: 4 Campuses Contributions Actual Budget $332,617 $268,180 February 2018 YTD Village Bible Church 1 Church: 4 Campuses Expenses Actual Budget $279,657 $318,450 February 2018 YTD 2

3 Village Bible Church 1 Church: 4 Campuses February 2018 YTD Expenses Missions & Outreach $33,503 (12%) 2018 YTD Actual Expenditures $279,657 Staff $176,124 (63%) Ministry, Admin & Bldg $70,030 (25%) 3

4 Village Bible Church Financial Update 1 Church: 4 Locations February Unrestricted Cash & Reserves $487,733 $272,603 Budget 2018 Over/(Short) YOY Change in Giving YTD + 3% Contr (Month) $ 166,309 $ 152,845 ($ 13,464) $ 128,831 $ 114,031 Contr (YTD) $ 332,617 $ 268,180 ($ 64,438) $ 260,302 $ 227,448 Exp (Month) $ 168,546 $ 149,929 ($ 18,617) $ 189,985 $ 147,009 Exp (YTD) $ 318,450 $ 279,657 ($ 38,793) $ 351,674 $ 285,000 Diff (Month) $ 2,916 $ 9,718 ($ 28,596) Diff (YTD) ($ 11,477) $ 51,095 ($ 48,787) Restricted Cash $ 22,241 $ 44,592 $ 162,340 Reserves $ 259,155 $ 140,652 $ 105,759 Operating Reserves $ 228,578 $ 131,951 ($ 4,412) Current Month to Date 2018 % Change Avg Worship Attendance % Active HH Avg Attendance % 67% 68% Avg Visitor Attendance 65-29% Active Visiting Individuals 37-41% 63 Active Attending Households 458 8% Active Attending Individuals % Current Month Giving Family Units 276 (% of Active Attending Households) 60% Past 3 Mos. Giving Family Units 220 (Given at least 1x/month) 48% PORTION OF GIVING DONE ONLINE Online Giving (Month) $ 95,537 63% 58% 48% Online Giving (YTD) $ 152,768 57% 53% 46% BENEVOLENCE BALANCE $ 8,232 Giving (Month) $ 2,380 Giving (YTD) $ 6,368 Paid Out (Month) $ 2,082 Paid Out (YTD) $ 4,332 4

5 Target Campus Budget Allocation 15% Multiplier Fund: Missions & Resurgence 10% Global Missions; 5% Resurgence We are committed to reproducing at every evel leaders, ministries, celebration services, campuses and churches. With multiple locations, it can be challenging to remain missional about new endeavors with so many worthwhile interests competing for resources. By allocating 15% of all offerings to the multiplier fund, we re positioned to reproduce consistently, to invest in leadership and to resource our existing campuses as they model our reproducing DNA. 20% Catalyst Operations: Central Services 20% Catalyst Catalyst operations include creative arts, business administration, and ministry visioning, collaboration and alignment. Operating the Catalyst at 20% of all offerings requires us to continually refine our operations and ensure fiscal responsibility. 65% Campus Operations: Campus Ministry 40% Staff; 25% Ministry/Local Outreach/Administration/Building & Grounds Each campus operates on 65% of its collective annual offerings, which are used for staffing, facility, capital savings, local outreach and ministry operations. Operating at 65% takes the guesswork out of future staffing, facility usage and other expenditures, since annual budgets are established based on projected offerings. 5

6 VILLAGE BIBLE CHURCH MONTHLY UPDATE February 2018 AURORA SUGAR GROVE Current Month to Date 2018 % Change Current Month to Date 2018 % Change Avg Worship Attendance 201 0% Avg Worship Attendance % Active HH Avg Attendance 74 58% Active HH Avg Attendance % Avg Visiting Individual Attendance 24 41% 17 9 Avg Visiting Individual Attendance 21-67% Active Visiting Households 15-21% 19 Active Visiting Households 15-61% 38 Active Attending Households (Active Assim Code 1-5) 128 7% Active Attending Households (Active Assim Code 1-5) 295 8% Active Attending Individuals 302 2% Active Attending Individuals 881-1% # of HH HH Ratio YTD Ratio # of HH HH Ratio YTD Ratio Current Month Giving Family Units 74 (% of Active Attending HH) 58% 53% Current Month Giving Family Units 184 (% of Active Attending HH) 62% 61% Past 3 Mos. Giving Family Units 56 (Given at least 1x/month) 44% Past 3 Mos. Giving Family Units 154 (Given at least 1x/month) 52% PORTION OF GIVING DONE ONLINE PORTION OF GIVING DONE ONLINE Online Giving (Month) $ 16,484 61% 54% 47% Online Giving (Month) $ 78,433 66% 62% 51% Online Giving (YTD) $ 28,017 53% 51% 43% Online Giving (YTD) $ 123,436 60% 55% 49% INDIAN CREEK EL CAMINO Current Month to Date 2018 % Change Current Month to Date 2018 % Change Avg Worship Attendance 30-29% Avg Worship Attendance % Active HH Avg Attendance 11 55% Active HH Avg Attendance 11 73% Avg Visiting Individual Attendance 3-57% 7 Avg Visiting Individual Attendance % 4 3 Active Visiting Households 4 100% 2 Active Visiting Households 3-25% 4 Active Attending Households (Active Assim Code 1-5) 20 0% Active Attending Households (Active Assim Code 1-5) 15 50% 10 7 Active Attending Individuals 47-15% Active Attending Individuals 46 92% # of HH HH Ratio YTD Ratio # of HH HH Ratio YTD Ratio Current Month Giving Family Units 9 (% of Active Attending HH) 45% 44% Current Month Giving Family Units 9 (% of Active Attending HH) 60% 63% Past 3 Mos. Giving Family Units 8 (Given at least 1x/month) 40% Past 3 Mos. Giving Family Units 2 (Given at least 1x/month) 13% PORTION OF GIVING DONE ONLINE PORTION OF GIVING DONE ONLINE Online Giving (Month) - 0% 3% 10% Online Giving (Month) $ % 69% 44% Online Giving (YTD) - 0% 6% 7% Online Giving (YTD) $ 1,315 54% 67% 42% 6

7 Financial Accountability Accountability and transparency is important to us. We strive to be the best stewards of God s resources that we can be and know that having others reviewing and guiding us will help us stay on track. Scripture talks over and over again about the importance of seeking wise counsel. We can t imagine a place that would be any more important than in the church! To this end, the elders of Village Bible Church have implemented the following: VBC Non-Staff Guiding Elders & Consensus Decision Making (Wise Counsel & Accountability) While all elders lead and shepherd the church, the guiding elders are the actual governing board of the church. This board is intentionally made up of a majority of non-staff elders and operates by consensus, which means total agreement by the elders to support a decision. This structure provides accountability and balance to our leadership team. Guiding Elders (Non-Staff): Scott Brown (Aurora Campus), Bill Griffith (Indian Creek Campus), Jon Pilkington (Sugar Grove Campus) Additionally, two staff members serve on this team: Keith Duff (Executive Pastor) and Tim Badal (Lead Pastor). VBC Stewardship Team (Wise Counsel & Accountability) This advisory team is made up of church members who do not serve as staff or as elders. While they are not a decision making team, they advise and work with the guiding elders on overall financial strategy and practice, such as: 1) budget development; 2) compensation analysis; 3) cash-control audits; 4) monthly financial reviews; 5) financial communication; 6) generosity teaching initiatives. Stewardship Team (Non-Staff): Phil Beattie (Sugar Grove Campus), Sue Fair (Sugar Grove Campus), Stan Free (Sugar Grove Campus), Jeff Hansen (Sugar Grove Campus), Chad Thompson (Aurora Campus) Additionally, Keith Duff (Executive Pastor) and Stephanie Beattie (Finance Director) lead and advise this team. Financial Policies and Practices (Accountability) Our financial policies and practices include many checks and balances that include our treasurers, our stewardship team, our CPA and ECFA. These checks and balances include cash handling (there are always at least two people involved with the handling of offerings and the process is audited); check writing and electronic payments (at least two people are always involved in this process); monthly financial reconciliation; year-end financials and expense allocations. Vanderbloemen Research Group Compensation Analysis (Wise Counsel) Vanderbloemen Research Group provides our compensation team (non-staff guiding elders + non-staff stewardship team) objective analysis of the different leadership roles at VBC as well as compensation practices of similar churches and nonprofit organizations. This analysis guides our actual compensation policy. Evangelical Council for Financial Accountability ECFA (Wise Counsel & Accountability) We voluntarily submit to the oversight and accountability of the Evangelical Council for 7

8 Financial Accountability (ECFA) who conducts a full review of our church on an annual basis. We have passed their review and been an accredited member each year since first applying in ECFA enhances trust in Christ-centered churches and ministries by establishing and applying Seven Standards of Responsible Stewardship to accredited organizations. Founded in 1979, ECFA provides accreditation to leading Christian nonprofit organizations that faithfully demonstrate compliance with established standards for financial accountability, transparency, fundraising, and board governance. The Christ-centered ministries accredited by ECFA include churches, denominations, educational institutions and mission agencies. ECFA s Seven Standards of Responsible Stewardship, drawn from Scripture, are fundamental to operating with integrity. Accountability to God is vital, but people form their impressions of both people and organizations by looking at the outward appearances (1 Samuel 16:7). The basis for establishing ECFA is stated clearly by the Apostle Paul in 2 Corinthians 8:21: "For we are taking pains to do what is right, not only in the eyes of the Lord but also in the eyes of men." The seven standards include 1) Doctrinal Issues, 2) Governance, 3) Financial Oversight, 4) Use of Resources and Compliance with Laws, 5) Transparency, 6) Compensation-Setting and Related-Party Transactions and 7) Stewardship of Charitable Gifts. Our church listing on ECFA: CapinCrouse CPA (Wise Counsel & Accountability) We voluntarily submit to the oversight and accountability of the CapinCrouse CPA firm who conducts a full review of our church financials on an annual basis. We have passed their review since first engaging with them in CapinCrouse is a national full-service CPA and consulting firm who, since 1972, has served Christ-centered, mission-focused not-for-profit organizations, churches, and higher education institutions by providing support in the key areas of financial integrity and security. As a result of this extensive experience, CapinCrouse has a deep understanding of ministry operations and knows the ever-changing needs and the importance of financial accountability in our unique environment. Village Bible Church engages CapinCrouse to perform an annual review of our financial statements. A review includes primarily applying analytical procedures to management s financial data and making inquiries of organization management. The review is conducted in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. Those standards require CapinCrouse to perform procedures to obtain limited assurance that there are no material modifications that should be made to the financial statements. 8

9 The Bible talks a lot about something called first fruits. If something is important, we should do it first. Some of you may have your priority financial items taken right out of your paycheck maybe 401(k), savings, income tax. You automate them because they are important you want to make sure that they are taken care of right away. Here at Village Bible Church, we re so grateful for the generosity of so many people who financially support the mission and vision of the church. This idea of making the important automatic applies to giving as well. We want to be generous as well as be wise, so in addition to saving for a 401(k) automatically, I would like to encourage you to give automatically also. We ve set up our website in such a way that you can create a profile and set up regular, recurring contributions. Online giving is safe, secure and free. It s a great way to be intentional about honoring God and being generous. Many of you give via the offering boxes in the sanctuary and that s great you can keep doing that. But I want to challenge you to automate it because it s important. Would you be willing to set up an online giving profile at villagebible.org/give and automate the important? Not only will you not have to bring a checkbook to church, you ll help us maintain ministries for your family during all seasons of the year. Jump in. Automate what s important. Your Pastor and Friend, 9