Financial Update
Dear Ones,
We are just over midway through 2023 and much change is upon us. I wanted to give you a brief update on our financial position and how you can be part of assuring a strong end to this year!
First, thank you to those who have been paying their pledges throughout the year—it truly makes a difference! If you tend to hold off until the end of the year, I would urge you to consider making a mid-year gift if possible. Our summer months are often the most taxing to our savings account and you can help by giving today.
While expenses have stayed quite low all things considered, we are still working on improving our income side. We have raised the rent on many of the users of our spaces to assist with utilities costs, we are slowly getting additional renters of our many spaces, and we are close to a deal to rent the office we’ve been advertising as well! But we are also conscious that the dividends income from our investments are lower than last year, so our projected income from that area will be less than we’d hoped.
We went into the year with a balanced budget by the skin of our teeth – only $72 in the black! But after a 2022 budget that had been -$80,000, we are confident that even if we tip into the red a bit at the end of 2023, it will be significantly less of a threat to our overall parish health. We have encountered a few unexpected expenses this year in spite of our best efforts (as every organization does from time to time!), so we hope for some unexpected gifts too which will help us stay balanced.
To be transparent, our capital fund has finally been fully depleted after the last several A/C purchases so we no longer have back-up money for those needs which will inevitably arise going forward. With over 20 of our units being over 20 years old, we are conscious that we are on borrowed time. However, we have applied for a grant to assist toward replacing our Sanctuary A/C (the largest and most expensive!), and we are grateful to Carly Davis for spearheading the application. Pray we get it!
In good news, once 2024 hits, we will see some additional hope in our budget because of full-year savings on the role of parish administrator and assistant clergy. While those were hard losses at many levels, I’ve been grateful for the many ways that parishioners have stepped up to fill in those gaps both pastorally and administratively. We are also exploring a new and exciting fundraiser concept and will be looking for someone with great organization and leadership skills who could take lead on that project, so if you’re interested, let me know!
All in all, we are grateful for all the support, giving, brainstorming, and encouragement. A special thanks to those who have come in asking ‘how can I help?’ and who come in bringing solutions – that’s what helps a community thrive! This attitude, partnered with some additional financial gifts, will get us a long way.
You are marvelous. As we come toward the end of my term here, I am filled with hope about your future. I urge you to continue to give generously during this crucial transition moment so you can walk into the close of your 60th year of ministry in strength and fellowship. Thank you in advance for your support!
Faithfully,
Mother Erika
The Rev. Canon Erika von Haaren
Interim Rector
Christ Church of the Ascension
