FINANCIAL REPORT - Seventh-day Adventist...
Transcript of FINANCIAL REPORT - Seventh-day Adventist...
2015 TITHE: $ 93,767,3702014 TITHE: $ 91,015,332
INCREASE OF 3.02%
$3,930,983
$5,939,272
$4,537,257
$34,701,115
$24,719,822
$19,606,550
$332,370
Alaska
Idaho
Montana
Oregon
Upper Columbia
Washington
NPUC Direct
TITHE RECEIVED – YEAR TO DATEDECEMBER 2015 & 2014
Conference December
2015
December
2014
Incr/(Decr)
Percentage
Per Capita
2015
Per Capita
2014
Alaska 3,930,983 4,217,156 (6.79%) 1,021.57 1,096.79
Idaho 5,939,272 5,445,219 9.07% 908.56 820.43
Montana 4,537,257 4,063,857 11.65% 1,125.87 1,016.22
Oregon 34,701,115 31,591,479 9.84% 963.57 885.24
Upper Columbia 24,719,822 24,266.092 1.87% 941.74 926.89
Washington 19,606,550 21,105,282 (7.10%) 848.33 932.29
NPUC – Direct 332,370 326,245 1.88%
December YTD 93,767,370 91,015,332 3.02% 939.66 919.48
TITHE PERCENTAGE BY UNIONS FOR 2015
Southern Union 4.6%
Atlantic Union 3.7%
Columbia Union 3.2%
North Pacific Union 3.0%
Lake Union 2.8%
Pacific Union 1.5%
Southwestern Union 1.0%
Mid-America Union (0.1%)
Canada, SDA Church in (12.2%)
1.83% Increase for NAD
Tithe Received Over
Prior Year
ADVENTIST GIVING REPORT 2015
North Pacific Union Total Offerings Total Share of Fees
Alaska Conference $ 1,079,428.35 $ 5,304.31
Idaho Conference $ 990,875.85 $ 3,467.39
Montana Conference $ 804,939.96 $ 6,210.88
Oregon Conference $ 6,819,055.96 $ 23,235.67
Upper Columbia Conf. $ 5,924,952.66 $ 26,479.31
Washington Conference $ 6,515,817.46 $ 26,442.54
North Pacific Union $ 13,020.01
Total $ 22,135,070.24 $ 104,160.11
Paid a fee of 0.471% for every dollar donated by Adventist Giving
CASH AND INVESTMENTSDECEMBER 2011 THROUGH 2015
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
2015 2014 2013 2012 2011
$4,731,232
$4,095,765
$3,271,528 $3,024,531
$3,586,248
ACTUAL CASH DAYSYEARS 2015, 2014 & 2013
50
60
70
80
90
100
110
120
130
140
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2014 2013
105.63
FINANCIAL INDICATORS - DECEMBER
1.60
1.65
1.70
1.75
1.80
1.85
1.90
1.95
2.00
2.05
2015 2014 2013 2012 2011
2.00
1.89
1.81
1.74 1.74
Current Ratio
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2015 2014 2013 2012 2011
95.90%
88.04%
73.14%75.22% 73.44%
Working Capital
EXPENSES PER DAYYEARS 2013 TO 2015, AND 2015 BUDGET
$30,000
$35,000
$40,000
$45,000
$50,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget 2015 Actual 2015 Actual 2014 Actual 2013
$44,792 per Day
FINANCIAL INDICATORS – DECEMBER
-0.50%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
2015 2014 2013 2012 2011
4.49%
3.95%
1.66%
-0.14%
1.43%
Percent of Income to
Budget
-1%
-1%
0%
1%
1%
2%
2015 2014 2013 2012 2011
0.31%
-0.99%
0.55%
1.19%
-0.38%
Percent of Expenses to
Budget
FINANCIAL INDICATORS % SALARY, ALLOWANCES, & TRAVEL TO
GROSS TITHE – DECEMBER
40.00%
41.00%
42.00%
43.00%
44.00%
45.00%
46.00%
47.00%
48.00%
49.00%
50.00%
2015 2014 2013 2012 2011
43.21%
46.51%
49.08%48.77%
44.75%
FINANCIAL INDICATORS % TRAVEL TO GROSS TITHE – DECEMBER
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
2015 2014 2013 2012 2011
5.24%
6.36% 6.27% 6.40%6.12%
CHANGES IN NET ASSETSYEAR 2015
(600,000)
(400,000)
(200,000)
0
200,000
400,000
600,000
800,000
1,000,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 Budget 2015 Actual 2014 Actual 2013 Actual
CHANGES IN NET ASSETSYEAR 2015
(600,000)
(400,000)
(200,000)
0
200,000
400,000
600,000
800,000
1,000,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 Budget 2015 Actual 2014 Actual 2013 Actual
$644,157
blessing over
budget
DECEMBER 2015 OPERATIONS
Reporting the Resources Received and Their
Allocation in Advancement of the Gospel in the
Northwest
NORTH PACIFIC UNION CONFERENCE OPERATINGFINANCIAL ACTIVITY STATEMENT
DECEMBER 31, 2015
INCOME
Restricted Income 2015 Budget 2014
Appropriation $ 7,312,873 $ 7,287,510 $ 7,413,865
Offerings 2.532 4,000 4,976
Donations 114,551 0 211,677
Other Income 312,425 0 71,839
Total Restricted Income $ 7,742,381 $ 7,291,510 $ 7,702,357
NORTH PACIFIC UNION CONFERENCE OPERATINGFINANCIAL ACTIVITY STATEMENT
DECEMBER 31, 2015
Unrestricted Income 2015 Budget 2014
Tithe - Net $ 7,889,425 $ 7,507,983 $ 7,661,182
Exchange with Division (1,208,700) (1,208,700) (1,208,700)
Offerings and Donations 167,446 285,800 200,026
Appropriations Received 1,398,700 1,398,700 1,398,700
Direct Operating Income 787,668 691,914 675,658
SOULS NW – Tuition 139,795 233,218 190,136
Investment Earnings 49,778 52,765 33,443
Other Income 55,999 37,125 44,367
Total Unrest. Income $ 9,280,112 $8,998,805 $ 8,994,813
Total Income Received $ 17,022,492 $ 16,290,315 $ 16,697,170
NORTH PACIFIC UNION CONFERENCE OPERATINGFINANCIAL ACTIVITY STATEMENT
DECEMBER 31, 2015
EXPENSES 2015 Budget 2014
Program Services
Church Ministries $ 2,836,955 $ 3,026,538 $ 2,858,516
Educational 6,909,022 6,900,696 6,854,406
Health & Humanitarian 7,940 8,600 9,778
Other 3,386,709 3,121,085 3,130,865
Total Program Services $ 13,140,626 $ 13,056,919 $ 12,853,564
NORTH PACIFIC UNION CONFERENCE OPERATINGFINANCIAL ACTIVITY STATEMENT
DECEMBER 31, 2015
Supporting Services 2015 Budget 2014
Conference Administration $ 1,036,716 $ 1,024,355 $ 1,040,565
Retirement Contribution 1,262,241 1,194,132 1,211,267
Conventions & Meetings 113,615 134,288 51,797
Office Operations & Maint 376,919 337,875 337,446
Employee Medical 418,818 550,941 481,056
Total Supporting Services $ 3,208,309 $ 3,241,591 $ 3,122,131
Total Expense $ 16,348,935 $ 16,298,510 $ 15,975,695
NORTH PACIFIC UNION CONFERENCE OPERATINGFINANCIAL ACTIVITY STATEMENT
DECEMBER 31, 2015
2015 Budget 2014
Total Income $ 17,022,492 $ 16,290,315 $ 16,697,170
Total Expenses 16,348,935 16,298,510 15,975,695
Net Gain/(Loss) 673,557 (8,195) 721,475
Transfers In/(Out) ( 19,648) 8,786 115,734
Unrealized Gain/(Loss) on
Investments( 9,161) 0 6,249
Net Gain/(Loss) $ 644,748 $ 591 $ 843,458
YEAR-END 2015 INCREASE/DECREASE OF NET ASSETS
Increase Decrease
Unallocated Tithe $ 206,948
Unallocated Non-Tithe $ 402,703
General Evangelism 207,265
Souls NW Operations 75,203
Regional Capital 29,326
Hispanic Capital 16,329
K-12 Education 3,669
Temperance Programs 63
Adventist Disaster Response 3,401
Religious Liberty Emergency 5,512
YEAR-END 2015 INCREASE/DECREASE OF NET ASSETS
Increase Decrease
Small Conference Assistance 22,264
Reginal Special Assistance 19,192
Mission Projects-Global Mission 6,928
Regional Scholarships 791
Hispanic Scholarships 4,614
Adventist Health System 10,800
President’s Special Projects 17,946
Misc. Projects-Trade Show Books 320
Union Session 707
YEAR-END 2015 INCREASE/DECREASE OF NET ASSETS
Increase Decrease
Allocated Reserve – Tithe 330,378
Allocated Reserve – Non Tithe 358,332
Sub Total $ 1,183,424 $ 539,267
Changes in Net Assets $ 644,157
VARIANCES (TITHE TRANSFERS) FOR YEAR ENDING DECEMBER 2015
Function Under Budget Over Budget
Admin Support-Legal Services $ 18,026
Allocated Reserve –Tithe $ 330,378
ASI 261
Association 6,290
Auditing Services 79,767
Bible Conference 7,384
University Operation Funding 280
Communication and PR Admin 44,053
Creation Ministries 5,243
Hispanic Ministries 36,094
VARIANCES (TITHE TRANSFERS) FOR YEAR ENDING DECEMBER 2015
Function Under Budget Over Budget
Native American Evangelism 10,614
Early Childhood Education 2,155
Employee DB Retirement Plan 95,805
Employee Group Medical 119,327
General Educational Admin 7,140
In House – Office Services 893
In House – Social Committee 1,207
Information Systems, Services 6,438
In House – Operations 23,872
Innovation – Projects 203
VARIANCES (TITHE TRANSFERS) FOR YEAR ENDING DECEMBER 2015
Function Under Budget Over Budget
Ministerial Administration 15,595
Ministerial Interns 4,941
Mtgs-Conventions/Meetings 21,379
Misc. Tithe Appropriations 38,182
NW Institute of Ministry 1,532
Office Operation and Maintenance 16,797
Other Internships-Business/Comm 5,820
Presidential 3,750
Religious Liberty Administration 917
Secretariat 4,436
VARIANCES (TITHE TRANSFERS) FOR YEAR ENDING DECEMBER 2015
Function Under Budget Over Budget
Treasury 6,042
Trust Services 12,429
Union Publication – Gleaner 70,840
Women’s Ministries 1,070
Youth Activities 12,583
Sub Total $ 418,623 $ 593,117
Total Net Transfers to Functions $ 174,494
VARIANCES (NON-TITHE TRANSFERS) FOR YEAR ENDING DECEMBER 2015
Function Under Budget Over Budget
Allocated Reserve – Non Tithe $ 358,332
Misc. Non-Tithe Appropriations $ 4,992
Unexpended for Furnishings and Equipment 4,892
Sub Total $ 9,884 $ 358,332
Total Net Transfers to Functions $ 348,448
EQUIPMENT PURCHASES – 4TH QUARTER 2015
AltiGen Phone System Software $ 11,156.31
HP Enterprise Switch, P/S Mgmt
Network System $ 9,172.96
Dell Latitude E7450 w/Port Computer $ 2,374.05
We can be thankful for the increased financial trends over the past few years, within the North Pacific Union Conference.
I think far too often when we talk to God it’s all about us, what we want, what our troubles are. We would all be so much better off if we were to spend more time praising God, thanking him for his goodness and love.
Enter His gates with thanksgiving, And His courts with praise. Give thanks to Him; bless His name.Psalm 100:4