An Important Message from Executive Pastor, Rev. Howard Huhn
Thu, January 21, 2021
Dear Church Family and Friends,
Grace and Peace!
I know all of us are so thankful to turn the calendar from December to January and to put the difficult year of 2020 behind us. Last year was a challenging year in many ways, and I wanted to write and thank all of you who continue to support our church with your prayers and gifts.
Financially, 2020 was tough for the church, but we are thankful for the many faithful members who were able to support our ministries financially. God has blessed us through your gifts and we have worked hard to be fiscally prudent with our spending. We finished the year at just under 100% of our budgeted operating fund income while only spending 88% of our budget. This is due to receiving 91% of our budgeted contributions and the addition of a PPP grant to help cover our expenses during the time we closed our offices and school.
As many of you know, we continue to make a dedicated effort to reduce our building debt, and were able to reduce our principal by just over $180,000 last year. Our current balance is $2.07 million. We did see a reduction in our debt relief contributions in 2020 by 42%. While we do have funds in reserve to cover 2 months of principal payments, we do ask that you prayerfully consider a contribution to our debt reduction fund. Doing so would allow us to continue to use regular contributions for ministries and not have to divert them to debt relief.
We are excited that 2021 represents a new start and are looking forward to what God will do in and through us. Some have asked how best to support the church financially. The easiest way is to contribute through bank draft giving (ACH). This evens out our contributions through the year, allowing the budget to be consistent. You can download the form at http://friendswoodmethodist.org/giving
I’ve included some specific numbers below for those that are interested. If you have questions or would like to know how you can help further support the church, you can contact me at email@example.com and I will do my best to help you.
May God’s blessings rest on you in this new year!
Rev. Howard Huhn
2020 Financial Summary
Total operating fund income (including PPP grant of $222,700): 2,475,236.76
Total operating fund expense: 2,203,414.35
Current operating fund cash balance: 407,180.44
2020 income: 235,793.63
2020 expense: 225,115.39
2020 Surplus: 10,678.24
Current total designated fund balance: 393,754.73
2020 income: 37,495.00
2020 expense: 0.00
Current Endowment fund balance: 248,915.36
Debt Reduction Fund (Jubilee Fund)
2020 income: 135,267.28
2020 expense (Principal payments): 180,059.86
Current balance: 41,739.12
2021 Budget Summary
2021 Operating fund income budget: 2,385,000.00
2021 Operating fund expense budget: 2,389,824.74
2021 Operating fund budget deficit: 4,824.74*
*This will come from existing fund balance if necessary.