Read an update from St. Luke's Leaders about August 2020 Finances.
Read an update from St. Luke's Leaders about August 2020 Finances.
Give webpage

St. Luke’s August 2020

Financial Update

Dear St. Lukers,
While August contributions remained slightly higher than last year, St. Luke’s continues to struggle with ministry revenue that helps offset expenses. Currently August 2020 ranks as one of St. Luke’s lowest months to date for income. The loss in ministry revenue (normally combined with your gifts), due to the temporary closure of the Child Development Center earlier in the year as well as sports, summer camps, theater productions, and other events being postponed/canceled puts us at a deficit of $150,000 for the year.
Additionally, St. Luke’s Trustees are soliciting bids to replace the Building C roof that is nearing the end of its useful life. The 2019 fourth quarter video updates shared that the church’s financial position, hindered by ending several years in a deficit, has left us unable to fund the capital maintenance reserve. Replacing the Building C roof will exceed current maintenance reserves. With the help of the Paycheck Protection Program and holding down ministry spending, St. Luke’s unencumbered cash reserves will cover expenses in the event of a deficit at the end of the year.
Moving into the first quarter of 2020, identifying new revenue streams, right sizing the budget, and reorganizing the staff were top priorities. Much of this work stopped with the COVID-19 pandemic as St. Luke’s pivoted to address what was thought to be a short-lived storm. Now however, it’s apparent that in a city that depends so heavily on tourism, it’s going to be a difficult and long road ahead. A number of St. Lukers are facing unemployment and challenging times in the months to come with the implications of the economic crisis stretching in to 2021.
Like many of you who manage personal and business budgets, St. Luke’s elected leaders are developing the 2021 budget and seeking to be good stewards of your gifts as well as St. Luke’s assets. These leaders are taking into account the need to add to the church’s capital expense budget to maintain St. Luke’s buildings while reducing projections for existing ministry receipts and contributions. St. Luke’s has also formed a task force focused on new revenue opportunities.
We are so grateful for your continued generosity and the ways you support the ministry of St. Luke’s and what God is doing through this church. We know you will continue to be as generous as you can with your time, prayers and resources to continue our mission. In October and November, we will begin to ask for your “estimate of giving.” This will be your opportunity to help us plan accordingly by giving us an estimate of how you will plan to give in the coming year. We will also be inviting as many as possible to consider setting up recurring giving online which helps St. Luke’s Finance Committee understand the cycle of giving for our congregation as we move forward with hope, grace, and faith in what God can do through all of us.
If you are in a position to share a recurring gift in support of St. Luke’s ministries, you can click the button below to set up your automated gift online or call the Finance Office at 407.876.4991 ext. 227 to learn more about ways to give.
Click to Set Up Your Recurring Gift
Many blessings,
Your St. Luke’s Leaders
powered by emma