At College Park Church, we feel the heavy responsibility to be good stewards of what God has entrusted to us. As we read in Luke 12:48, "Everyone to whom much was given, of him much will be required."
Therefore, it is important that we ensure adequate internal controls are in place to safeguard the church's financial resources, be transparent in the financial data presented, and uphold the 501(c)(3) status of our organization.
Budget to Giving- Understanding Our Fiscal Year Giving
We are rejoicing that as of December 31, 2020, we are actually ahead of budget. What’s more due to our cost-saving measures earlier this year, our revenue has significantly surpassed our expenses. This allowed us to meet budget and build reserves.
You might wonder, “Why is the number in the newsletter different than the graph below or what we announced in our January Congregational Meeting?” Great question. Here’s why: The difference between the current newsletter budget reporting and the graph displayed below relates to timing. The newsletter reporting presents a simple “YTD (Year-to-Date) Target” which evenly divides College Park’s annual budget across the fifty-two weeks of the year. Whereas the below graph divides College Park’s annual budget across twelve months, based on historic giving patterns over the last five years. This graphic provides a more accurate annual budget depiction based on historic giving patterns.
In Fiscal Year 2021-22, we plan to implement this monthly reporting format in the newsletter’s Financial Update as well as including giving for the prior month and the fiscal year to date.
We have an independent accounting firm conduct financial audits on an annual basis, the reports of which you may review below. Additionally, our elders review and analyze monthly financial statements to direct the mission of our church.
We are members of the Evangelical Council for Financial Accountability (ECFA), which provides accreditation to Christian nonprofit organizations that consistently demonstrate compliance with established standards for financial accountability, fundraising, and board governance.
If you would like to donate stock to the church, you can do so via an online account with TD Ameritrade.
Broker: TD Ameritrade
Account #: 422302174
Depository Trust Company (DTC) #0188
Please email Jevne Livengood with what stock you are donating and the number of shares. Also please designate which church, North Indy, Greenwood, or One Fellowship and if you have a certain fund you would like to support (General Fund, Global Missions, Local Missions, Benevolence, Building Fund, or Christmas Offering). Please allow 5-7 business days for the stock to process, especially at year-end.
The Fiscal Year Budget
Our annual ministry and operating budget is developed by our staff leadership, approved by the elders, and presented to the congregation for review, questions, and approval by vote.