July 2017 Financial Overview

Transcription

1 July 2017 Financial Overview 1

2 Village Bible Church 1 Church: 4 Campuses Contributions Actual $934,503 $1,105,417 July 2017 YTD Village Bible Church 1 Church: 4 Campuses Expenses Actual $989,135 $1,019,420 July 2017 YTD 2

3 Village Bible Church 1 Church: 4 Campuses June 2017 YTD Expenses Staff $619,007 (63%) Buildings & Grounds $149,946 (15%) 2017 YTD Actual Expenditures $857,117 Multiplier $120,647 (12%) Administration $47,575 (5%) Church Ministry $51,960 (5%) 3

4 Village Bible Church Financial Update 1 Church: 4 Locations JULY Unrestricted Cash & Reserves $223,876 $157, Over/(Short) YOY Change in Giving YTD + 3% Contr (Month) $ 157,917 $ 141,239 ($ 16,677) $ 142,934 $ 107,224 Contr (YTD) $ 1,105,417 $ 934,503 ($ 170,914) $ 907,859 $ 819,362 Exp (Month) $ 142,048 $ 132,018 ($ 10,029) $ 139,688 $ 136,849 Exp (YTD) $ 1,019,420 $ 989,135 ($ 30,285) $ 1,010,374 $ 919,408 Diff (Month) $ 9,221 $ 7,628 ($ 28,125) Diff (YTD) ($ 54,632) ($ 71,839) ($ 89,546) Restricted Cash $ 68,582 Reserves $ 128,445 Unrestricted Cash $ 95,432 Current Month to Date 2017 % Change Avg Worship Attendance 772-3% Active HH Avg Attendance % Avg Visitor Attendance 69 0% 69 Active Visiting Individuals 35 Active Attending Households % 398 Active Attending Individuals % 1200 Current Month Giving Family Units 278 (% of Active Attending Households) 61% Past 3 Mos. Giving Family Units 211 (Given at least 1x/month) 46% PORTION OF GIVING DONE ONLINE Online Giving (Month) $ 62,224 44% Online Giving (YTD) $ 494,468 53% BENEVOLENCE BALANCE $ 12,922 Giving (Month) $ 1,995 Giving (YTD) $ 19,482 Paid Out (Month) $ 3,112 Paid Out (YTD) $ 18,469 4

5 Accounts Village Bible Church 1 Church: 4 Campuses JULY 2017 VBC YTD Actual VBC YTD YTD Remain YTD Used VBC Annual CONTRIBUTIONS Contributions Unrestricted 934,503 1,105, ,914 85% 1,895,000 Total CONTRIBUTIONS 934,503 1,105, ,914 85% 1,895,000 EXPENSES (KINGDOM INVESTMENTS) MULTIPLIER (Acts 1:8) Missions Missions Support 97, ,799 4,930 95% 176,227 Total Missions 97, ,799 4,930 95% 176,227 Outreach Outreach Partners 15,892 16, % 28, Outreach Direct 6,756 5,893 (863) 115% 10,103 Total Outreach 22,648 22,635 (13) 100% 38,803 Total MULTIPLIER (Acts 1:8) 120, ,434 4,918 96% 215,030 Local Ministry Church Ministry Nursery % Children's Ministry 3,540 5,250 1,710 67% 9, Vacation Bible School 3,022 5,100 2,078 59% 7, James 1: % AWANA (self-funded) (401) 260% Student Ministry 3,525 4,579 1,054 77% 7, Student Ministry Vehicles 620 4,325 3,705 14% 6, Child Protection Expenses % College & Careers % Music & Worship 4,704 2,774 (1,930) 170% 4, Sermon Ministry 4,166 3,792 (375) 110% 6, Small Groups 3,634 1,972 (1,663) 184% 3, Primetimers % Men's Ministry % Women's Ministry % 1, MOPS (self-funded) % Equipping 2,483 2, % 4, Counseling 453 1, % 1, Assimilation 2,073 1,228 (845) 169% 2, Library % Church Functions 4,234 9,170 4,936 46% 15, Church Community (126) 132% 1,000 Total Church Ministry 34,465 45,295 10,831 76% 75,003 Ministry Support Food & Kitchen Supplies 1, (715) 189% 1, Flowers & Memorials (3) 101% Leadership Training 6,756 7, % 13, Elder Discretionary 1,155 1,073 (82) 108% 1, Pastoral Resources 768 1, % 1, Phone Reimbursement 3,770 4, % 7, Travel Reimbursement 945 2,310 1,365 41% 3, Ministry Meals 1,871 3,086 1,215 61% 5, Ministry Consulting Services % 700 Total Ministry Support 17,626 20,942 3,316 84% 35,900 Buildings, Grounds & Equipment Decorations % 1, Furniture & Equipment 1,761 1,167 (595) 151% 2, Audio Visual Equipment 3,166 3,127 (39) 101% 5, Janitorial Services 15,400 15, % 30, Church Maintenance 7,525 11,433 3,908 66% 19, Landscaping 2,672 1,342 (1,330) 199% 2, Parking Lot/Roadway 3,116 4,500 1,384 69% 11,100 5

6 Accounts Village Bible Church 1 Church: 4 Campuses JULY 2017 VBC YTD Actual VBC YTD YTD Remain YTD Used VBC Annual Security Systems 1,585 1, % 3, Property & Liability Insurance 11,223 11, % 15, Mortgage Interest 23,733 23, % 46, Mortgage Principal 45,228 45, % 72,112 Utilities Electric 12,750 13, % 23, Garbage 1,904 1,750 (154) 109% 3, Gas 6,809 5,295 (1,514) 129% 8, Telephone & Internet 6,378 6, % 11, Water & Sewer 3,783 4, % 6,700 Total Utilities 31,624 31,246 (378) 101% 52,500 Parsonage Electric (580) 319% Gas % Telephone & Internet (501) 0% Water & Sewer (542) 0% House Maintenance % 150 Total Parsonage 2, (1,437) 252% 1,450 Total Buildings, Grounds & Equipment 149, ,531 2,585 98% 262,429 Total Local Ministry 202, ,768 16,731 92% 373,332 Administration Communication Services 5,915 4,345 (1,570) 136% 7, Printed Materials 12,553 9,465 (3,088) 133% 16, Office Supplies 652 2,383 1,731 27% 4, Copiers, Computers & Network 10,583 14,002 3,420 76% 22, Management Software 3,031 3, % 5, PO Box Postage 1,242 2, % 3, Dues & Subscriptions % Bank Fees 1,522 1,458 (64) 104% 2, Legal Fees 4, (3,810) 535% 1, Audit Fees 7,294 7, % 7,699 Total Administration 47,575 45,969 (1,606) 103% 72,133 Staff Pulpit Supply 4,800 1,633 (3,167) 294% 2, Wages/Living Allowance 306, ,962 1, % 550, Housing Allowance 138, ,658 1,596 99% 240, FICA-Church Share 34,073 35,673 1,600 96% 61, Workmans Comp 3,438 3, % 4, Health & Disability Insurance 104, , % 179, Retirement 403B 26,700 36,072 9,372 74% 61, Staff Appreciation (398) 0% 0 Total Staff 619, ,249 10,242 98% 1,101,268 Reserve Spending Reserves Released (15,323) 0 15,323 0% Reserve Spending 15,323 0 (15,323) 0% 0 Total Reserve Spending % 0 Total EXPENSES (KINGDOM INVESTMENTS) 989,135 1,019,420 30,285 97% 1,761,763 Net Total (54,632) 85, , ,237 6

7 VILLAGE BIBLE CHURCH MONTHLY FINANCIAL UPDATE JULY 2017 Contr (Month) $ 32,083 37,375 Contr (YTD) $ 224, ,208 Other Campus Support (Month) $ 2,763 2,763 Other Campus Support (YTD) $ 19,343 19,343 Exp (Month) $ 31,641 31,539 Exp (YTD) $ 225, ,498 Diff (Month) 8,599 Diff (YTD) 23,947) AURORA - 1% Change in YTD Giving Over Prior Year 2017 Over/(Short) $ $ 5,291 $ 40,206 $ 22,300 $ ($ 37,375) $ 188,271 $ 164,242 $ $ $ ($ 102) $ 28,214 $ 27,684 $ $ 4,515 $ 201,016 $ 176,276 $ $ 11,992 ($ 5,384) ($ ($ 12,745) ($ 12,034) Current Month to Date 2017 % Change Avg Worship Attendance % Avg Attendance of Active HH 70 52% Easter Attend: 327 (Excluded from avg.) Avg Visitor Attendance 25 4% 24 Active Visiting Households (Active Assim Code 0) 15 Active Attending Households (Active Assim Code 1-5) % 109 Active Attending Individuals % 273 Current Month Giving Family Units 72 (% of Active Attending HH) 53% Past 3 Mos. Giving Family Units 54 (Given at least 1x/month) 40% PORTION OF GIVING DONE ONLINE Online Giving (Month) 9,120 Online Giving (YTD) 79,819 $ 24% $ 43% BENEVOLENCE BALANCE $ 1,822 Giving (Month) $ 530 Giving (YTD) $ 2,351 Paid Out (Month) - Paid Out (YTD) $ 2,135 Village Bible Church Aurora YTD Expenses July 2017 Staff $110,942 (48%) 2017 YTD Actual Expenditures $230,498 Building & Grounds $27,090 (12%) Multiplier $34,090 (15%) Administration $44,225 (19%) Church Ministry $14,151 (6%) 7

8 VILLAGE BIBLE CHURCH MONTHLY FINANCIAL UPDATE JULY 2017 SUGAR GROVE + 4% Change in YTD Giving Over Prior Year 2017 Over/(Short) $ ($ 20,544) $ 94,508 $ 78,544 $ ($ 126,598) $ 666,101 $ 607,434 Contr (Month) $ 116,667 96,123 Contr (YTD) $ 816, ,069 Other Campus Support (Month) Other Campus Support (YTD) Exp (Month) $ 106,974 $ 99,953 ($ 7,022) $ 97,012 $ 94,115 Exp (YTD) $ 757,915 $ 727,979 ($ 29,935) $ 695,147 $ 661,899 Diff (Month) ($ 3,830) 2,504) ($ Diff (YTD) ($ 37,911) 29,046) ($ ($ 15,571) ($ 54,464) Current Month to Date 2017 % Change Avg Worship Attendance 496-9% Avg Attendance of Active HH % Easter Attend: 1060 (Excluded from avg.) Avg Visitor Attendance 32 7% 30 Active Visiting Households (Active Assim Code 0) 16 Active Attending Households (Active Assim Code 1-5) % 257 Active Attending Individuals % 835 Current Month Giving Family Units 187 (% of Active Attending HH) 65% Past 3 Mos. Giving Family Units 141 (Given at least 1x/month) 49% PORTION OF GIVING DONE ONLINE Online Giving (Month) 51,599 Online Giving (YTD) 400,347 $ 54% $ 58% BENEVOLENCE BALANCE $ 10,206 Giving (Month) $ 1,147 Giving (YTD) $ 15,143 Paid Out (Month) $ 2,844 Paid Out (YTD) $ 14,629 Village Bible Church Sugar Grove YTD Expenses July 2017 Staff $269,390 (37%) 2017 YTD Actual Expenditures $727,979 Building & Grounds $115,017 (16%) Multiplier $167,720 (23%) Administration $147,544 (20%) Church Ministry $28,308 (4%) 8

9 VILLAGE BIBLE CHURCH MONTHLY FINANCIAL UPDATE JULY 2017 INDIAN CREEK + 7% Change in YTD Giving Over Prior Year 2017 Over/(Short) Contr (Month) $ 6,667 $ 6,356 ($ 310) $ 6,053 $ 4,065 Contr (YTD) $ 46,667 $ 41,508 ($ 5,159) $ 38,777 $ 34,140 Other Campus Support (Month) $ 6,087 $ 6,087 - $ 2,882 - Other Campus Support (YTD) $ 42,608 $ 42,608 - $ 20,176 - Exp (Month) $ 12,048 $ 11,406 ($ 642) $ 10,226 $ 9,963 Exp (YTD) $ 85,387 $ 83,937 ($ 1,449) $ 83,477 $ 52,767 Diff (Month) $ 1,037 ($ 1,291) ($ 5,898) Diff (YTD) $ 179 ($ 24,524) ($ 18,627) Current Month to Date 2017 % Change Avg Worship Attendance 36-8% Avg Attendance of Active HH 12 60% Easter Attend: 41 (Excluded from avg.) Avg Visitor Attendance 8-11% 9 Active Visiting Households (Active Assim Code 0) 2 Active Attending Households (Active Assim Code 1-5) 20 0% 20 Active Attending Individuals 51-16% 61 Current Month Giving Family Units 12 (% of Active Attending HH) 60% Past 3 Mos. Giving Family Units 11 (Given at least 1x/month) 55% PORTION OF GIVING DONE ONLINE Online Giving (Month) $ 450 7% Online Giving (YTD) $ 3,937 9% BENEVOLENCE BALANCE $ 868 Giving (Month) $ 50 Paid Out (Month) - Paid Out (YTD) $ 91 Village Bible Church Indian Creek YTD Expenses July 2017 Staff $59,392 (71%) 2017 YTD Actual Expenditures $83,937 Building & Grounds $7,577 (9%) Multiplier $5,540 (7%) Administration $8,640 (10%) Church Ministry $2,788 (3%) 9

10 VILLAGE BIBLE CHURCH MONTHLY FINANCIAL UPDATE JULY 2017 EL CAMINO + 7% Change in YTD Giving Over Prior Year 2017 Over/(Short) Contr (Month) $ 2,500 $ 1,385 ($ 1,115) $ 2,167 $ 2,315 Contr (YTD) $ 17,500 $ 15,719 ($ 1,782) $ 14,711 $ 13,545 Other Campus Support (Month) $ 3,231 $ 3,231 - $ 1,500 $ 1,500 Other Campus Support (YTD) $ 22,616 $ 22,616 - $ 10,500 $ 10,500 Exp (Month) $ 5,432 $ 5,705 $ 273 $ 4,236 $ 5,087 Exp (YTD) $ 38,183 $ 41,568 $ 3,385 $ 30,735 $ 28,466 Diff (Month) ($ 1,088) ($ 569) ($ 1,272) Diff (YTD) ($ 3,233) ($ 5,524) ($ 4,421) Current Month to Date 2017 % Change Avg Worship Attendance 25 4% Avg Attendance of Active HH 9 64% Easter Attend.: 43 (Excluded from avg.) Avg Visitor Attendance 4-33% 6 Active Visiting Households (Active Assim Code 0) 2 Active Attending Households 14 17% 12 Active Attending Individuals 34 10% 31 Current Month Giving Family Units 7 (% of Active Attending HH) 50% Past 3 Mos. Giving Family Units 5 (Given at least 1x/month) 36% PORTION OF GIVING DONE ONLINE Online Giving (Month) $ 1,055 76% Online Giving (YTD) $ 10,365 66% BENEVOLENCE BALANCE $ 25 Giving (Month) $ 268 Giving (YTD) $ 1,638 Paid Out (Month) $ 268 Paid Out (YTD) $ 1,613 Village Bible Church El Camino YTD Expenses July 2017 Staff $28,078 (68%) 2017 YTD Actual Expenditures $41,568 Building & Grounds $262 (1%) Multiplier $2,796 (7%) Administration $8,625 (20%) Church Ministry $1,808 (4%) 10

11 Target Campus Allocation 15% Multiplier Fund: Missions & Resurgence 50% Worldwide Missions; 30% Resurgence; 20% Local Outreach We are been 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 residents and to resource our existing campuses as they model our reproducing DNA. 20% Catalyst Operations: Central Services 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/BuildingGrounds/Administration Each campus operates on 65% of its collective annual offerings, which are used for staffing, facility, capital savings 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. 11

12 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 12

13 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. 13

14 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, 14