2017 OPERATING RESULTS SUMMARY FOR THE THREE MONTHS ENDING APRIL 30, 2017

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1 2017 OPERATING RESULTS SUMMARY FOR THE THREE MONTHS ENDING APRIL 30, 2017 The churchwide organization of the Evangelical Lutheran Church in America had total operating revenue and support of $15.2 million for the three-month period ended April 30, 2017, approximately $0.5M less than expenses of $15.7 million. Operating results were favorable to the period budget by $2.4 million. Revenue totaled $14.8 million for the three-month period compared with $16.5 million the previous year, a decrease of $1.7 million or approximately 10 percent. In addition, $0.5 million in support was released from restriction or designation during the period. Total revenue and support for the three-month period of $15.2 million was favorable to the budget by $0.1 million, and constituted a decrease of $2.0 million from the previous year. Expenses related to the current operating fund of $15.7 million were below the authorized unit spending plans by $2.3 million, and constituted an increase of $0.5 million from the previous year. Income from congregations through synods in the form of Mission Support income for the three months was $10.7 million, unfavorable to the budget by less than $0.1 million and unfavorable with prior year results by $0.5 million. The Mission Support budget for 2017 of $ million is $1.05 million or 2.3 percent lower than the amount received in fiscal Other unrestricted and temporarily restricted revenue and support available for the budgeted operations of the churchwide organization amounted to $4.1 million, compared with $5.3 million in the previous year. Income from Vision for Mission amounted to less than $0.1 million. Income from Global Church Sponsorship (including missionary sponsorship) was $0.5 million, slightly unfavorable to the prior year results. Endowment distributions of $0.8 million is slightly favorable to prior year results. Investment income of $0.8 million is favorable to the period budget by $0.4 million, but unfavorable to prior year results by $0.1 million. Income from bequests and trusts of $0.3 million is unfavorable to budget and prior year results. The Mission Investment Fund provided grant support of $0.4 million to the churchwide organization. Additionally, other income of $1.2 million was received during the first quarter. Total contributions to ELCA World Hunger for the three months were $3.4 million, unfavorable to the budget by $0.7 million and unfavorable to the prior year by $1.3 million. ELCA members and partners have contributed $0.7 million for Lutheran Disaster Response in the three-month period, primarily in support of South Sudan Conflict Relief, the response to U.S. Floods, Hurricane Matthew Relief, and for general undesignated programs. Always Being Made New: The Campaign for the ELCA has raised $119.7 million in revenue and commitments to date in our five-year, comprehensive campaign. This amount represents 60.4 percent of the total goal of $198 million by January 31, In addition to results reported above, strong response to date continues to be in the areas of New Congregations, Fund for Leaders, and Global Church-International Leaders: Women and Missionaries/Young Adults in Global Mission. Global Church is the 2017 ministry emphasis for The Campaign for the ELCA.

2 SUMMARY OF REVENUE AND EXPENSES (In Thousands) Year-to-Date Variance ACTUAL CURRENT YEAR vs BUDGET vs PRIOR YEAR ACTUAL BUDGET ACTUAL Favorable/(Unfav) Favorable/(Unfav) REVENUE UNRESTRICTED Mission Support $ 10,661 $ 10,740 $ 11,138 $ (79) $ (477) Other 2,558 2,346 3, (1,147) Total Unrestricted 13,219 13,086 14, (1,624) TEMPORARILY RESTRICTED Designated Gifts (13) (10) Other (92) Total Restricted 1,539 1,527 1, (102) TOTAL REVENUE $ 14,758 $ 14,613 $ 16,484 $ 145 $ (1,727) DESIGNATED AND RESTRICTED FUNDS RELEASED (39) (297) TOTAL OPERATING REVENUE AND SUPPORT 15,210 15,104 17, (2,025) LESS TOTAL EXPENSES 15,689 17,957 15,149 2,268 (540) NET REVENUE OVER (UNDER) EXPENSES $ (479) $ (2,853) $ 2,084 $ 2,374 $ (2,563)

3 REVENUE SUMMARY Year-To-Date Variance ACTUAL vs. CURRENT YEAR BUDGET vs. PRIOR YEAR ACTUAL BUDGET ACTUAL Favorable/(Unfavor) Favorable/(Unfavor) UNRESTRICTED Mission Support $ 10,660,795 $ 10,740,215 $ 11,137,800 $ (79,420) $ (477,005) Vision for Mission 84, , ,995 (44,989) (25,965) Investment Income 810, , , ,561 (137,972) Bequests and Trusts 172, ,563 1,220,837 (284,814) (1,048,088) Endowment 339, , ,349 50,962 18,038 Rent 463, , ,356 12,913 45,236 Other 688, , ,558 59,507 1,627 Total Unrestricted 13,218,812 13,086,092 14,842, ,720 (1,624,129) TEMPORARILY RESTRICTED Global Church Sponsorship 499, , ,829 (11,663) (1,455) Bequests and Trusts 160, , ,605 3,042 (99,512) Endowment 474, , ,145 21,881 7,700 Unit-Designated Gifts 30,055 30,537 38,257 (482) (8,202) Mission Investment Fund 375, , , Total Restricted 1,539,367 1,526,589 1,640,836 12,778 (101,469) TOTAL REVENUE 14,758,179 14,612,681 16,483, ,498 (1,725,598) Total Designated and Restricted Funds Released 451, , ,394 (38,815) (297,433) TOTAL OPERATING REVENUE AND SUPPORT $ 15,210,140 $ 15,103,457 $ 17,233,171 $ 106,683 $ (2,023,031)

4 ACTUAL EXPENSES VS. SPENDING AUTHORIZATION Variance Percent ACTUAL SPENDING Favorable of Actual EXPENSES AUTHORIZATION (Unfavorable) to Budget UNITS Domestic Mission 6,266,038 6,803, , % Global Mission 2,875,745 3,819, , % Mission Advancement 887,048 1,173, , % OFFICES Presiding Bishop 1,279,962 1,439, , % Treasurer 2,307,470 2,584, , % Secretary 957,261 1,058, , % OTHER General Treasury 36,250 36, % Retiree Minimum Health Obligation 250, , % Depreciation 829, ,281 (38,330) % TOTAL OPERATING EXPENSES $ 15,689,385 $ 17,956,773 2,267, %

5 ELCA WORLD HUNGER SUMMARY OF REVENUE AND EXPENSE Beginning Balance $ 5,265,798 Income and Expense Variances Favorable (Unfavorable) Actual Vs. Current Vs. Actual Budget Budget Previous Year Income: Direct Giving 2,669,341 $ 3,470,808 $ (801,467) $ (392,729) Endowments and Donor Requested Payments 157, ,000 25, ,154 Bequests, Miscellaneous 621, ,999 71,305 (1,061,414) Total Income 3,447,799 4,152,807 (705,008) (1,296,989) Expense: Global Mission 2,382,999 3,807,080 1,424,081 (165,776) Domestic Mission 573, , ,866 (68,143) Mission Advancement 526, , ,948 7,833 Emergency/Strategic Opportunity Fund - 251, ,594 - Total Expense 3,482,264 5,750,753 2,268,489 (226,086) Net $ (34,465) $ (1,597,946) $ 1,563,481 $ (1,523,075) Ending Balance $ 5,231,333