Finance Factoids
This year's budget is $210,000. Of that amount, $155,000 comes from donations within our church; $35,000 from our grant; and $20,000 from fees.
There is a strong correlation between giving and the size of a church (duh). In our case, we need to have 130 members and/or attenders, in order operate in the black. Presently we have 110 members and average about 100 in church each week.
The Cove takes in about $12,000 per month on average from offerings.
Charitable giving to religious institutions in America totals about $88,000,000,000 annually (.7% of GDP), according to Time magazine. Separate sources indicate that church members tend to give between 2% and 3% of their annual income to their church. The Biblical model is to live on 90% of our income and tithe 10%.
Personnel expenses at churches tend to account for 65-75% of the budget. At the Cove, personnel accounts for 70% of our budget.
The Cove's budget is $210,000, we have 100 members; 184 people on our active roster (jr. high and above).
Numerical growth and stewardship go hand in hand. We need to have about 130 members/attenders to operate in the black; 150 to increase staff; 170 to build on our property.
Weekly giving at The Cove averages almost $3000. It is always more at the beginning of a month and less near the end.
We have received 32 new members since December, 2005. We now have about 100 members. We donate approximately $28/member in fulfillment of the “per-capita assessment” administered through our Presbytery.
In addition to operating funds, The Cove has "restricted funds" upon which to draw for future building and capital acquisition. Our restricted funds total about $100,000 currently.
The Cove receives a declining subsidy from the denomination: 2006= $41,000; 2007=$35,000; 2008= $20,000; 2009=$13,000; 2010= $5000.