Church Financial Update:  the Praises and the Challenges

The summer of 2010 has brought together the closing of the Virginia Gray Estate.  The total estate came to $624,000.   At our quarterly business meeting on Wednesday, June 23, the church approved the following distribution of the estate:  $200,000 for church renovations, $225,000 for debt reduction, $100,000 for an operations contingency fund, $50,000 for mission and ministry projects, and $49,000 for future facility improvements.

In July, our church made a $278,000 payment against our $612,000 construction loan.  The $278,000 payment was made up of the $225,000 approved from the Gray Estate plus $53,000 in debt reduction money that had accumulated over the last few months.   This sizeable payment has reduced the construction debt for the new entrance and narthex from $612,000 to $334,000.  This means our monthly mortgage payment (which begins in August) has been reduced from $5500 to $2893. 

The Finance Team has decided to keep an amount equaling three months mortgage payments ($9000) in reserve and to put any extra debt reduction funds that are received in the future directly against our mortgage principle.  The conclusion of the Finance Team is that based on current debt reduction giving trends, we will pay off our 15 year mortgage in 7 years and possibly sooner.  This is great news along with the fact that overall giving remains strong even during this difficult economy.  Giving to Emmanuel through June of 2010 is $10,000 more than giving through June in 2008 and 2009.  Thank you for your amazing generosity.

The more sobering financial news is that we are beginning for the first time to use some of our reserve funds to pay general operating costs for staff, insurance, utilities, program and ministry expenses.  We knew that bringing on Tim Hart as a third full time staff person, with a focus in youth ministry, was going to stretch us financially.  This has proven to be true.  The good news is that this investment in our future is already bringing new life, energy and real excitement to our youth ministry.  The old saying is true:  “no pain, no gain.”  The other good news is that we currently have sufficient reserve funds to cover the budget deficits that we have experienced to date.   

The Finance Team is monitoring this situation closely and is committed to keeping the congregation updated on a regular basis.  Please keep the Finance Team in your prayers as they examine our current “giving vs. expense” trends with a view to creating a challenging but fiscally responsible church budget for 2011. 

Virginia Gray loved the Emmanuel church family.  She told me that she was grateful for the affection and support she felt from the first day she walked into our church: “I knew I had found my home.”  Virginia was a smart, funny, caring and a very spiritual lady who will not soon be forgotten.  She has blessed Emmanuel with a significant and timely gift.  Let us praise God together as we look for creative ways to express the love, affection and support to others that first made Virginia feel at home in our fellowship.


Emmanuel has been a church that has given generously through the years.

Total giving to Emmanuel’s general fund and all mission giving since 2001 is as follows:

2001 $384, 000
2002 $408, 000
2003 $437, 000
2004 $429, 000
2005 $461, 000
2006 $453, 000
2007 $428, 000
2008 $407, 000 (annualized based on Oct. year to date)

Our average giving to our general fund and missions since 2001 has been $426,000.

These numbers do not include giving to the capital campaign or any other such funds (van, Hope House mortgage, etc.). Absolute giving each year was higher, particularly after our current capital campaign started. Since 2004, Emmanuel has given over $522,000 to support our Capital Campaign which is set to be completed in January, 2009.

Giving to the General Fund after removing the budgeted missions looks like this since 2001:

2001 $304, 000
2002 $327, 000
2003 $352, 000
2004 $340, 000
2005 $356, 000
2006 $356, 000
2007 $362, 000
2008 $342, 000 (annualized based on Oct. year to date)

Emmanuel has long been a very generous church with regards to mission giving. The following numbers represent the total giving to missions (including budgeted missions and our designated mission giving ... ) expressed as a percentage of total giving to the General Fund and missions (these figures do not include what was given to special funds, i.e. the capital campaign) ...

2001 20.9%
2002 20.0%
2003 19.6%
2004 20.6%
2005 22.9%
2006 21.5%
2007 15.5%
2008 15.9% (YTD thru October)
The average giving percentage to missions since 2001 has been 19%.

A giving reflection:

Herb Linneweh, a shy retired janitor known for his "radical thriftiness," left a big surprise when he died last spring: cash-filled envelopes hidden throughout the house he had lived in for nearly 50 years. "It was a little over $100,000," Joanie Schwarzbeck, a friend and neighbor, said. "I had no idea he had that kind of money in his house--none.” That's easy to believe. The Chicago Tribune says "he wore his janitor's uniform long after he retired, sewing it back together as it frayed. He walked to a nearby bank every morning for a complimentary cup of coffee. And ... he declined to get a membership at Blockbuster: The library's movies, after all, were free. He never even bothered to get a doctor of his own." All told, the 72-year-old bachelor was worth about $700,000. He left most of it to his church, a local food pantry, the American Cancer Society, the American Heart Association, the Salvation Army and the Make-a-Wish Foundation. Even the neighbor's children each received $500.

When I read this news story, I was impressed by Herb Linneweh’s thriftiness and generosity but the thought occurred to me that he missed one of real blessings of giving: getting to see how your gift affects the lives of others. Herb was generous after his death but what a blessing it would have been for him to see the faces of the excited neighbor’s children; or to have gotten a letter from the pastor of his church telling him all the ways his generous gift had allowed to church to reach out in ministry.

My grandfather, Urban Busiek, was the first pediatrician in Springfield, MO in 1922. He had a large practice and did well financially but my father told me that “Doc” didn’t want to store up his money. He wanted to give it away while he was alive and so he gave generously to his church, the Gideon’s, the YMCA and to other charities. He didn’t leave a large estate when he died, he gave it away while he was alive. My parents have set a similar example for me in their generous giving. Proverbs 11: 24-25 expresses this mindset: “One man gives freely, yet gains even more; another withholds unduly, but comes to poverty. A generous man will prosper; he who refreshes others will himself be refreshed.”

These are difficult financial times. Many of our members live on a fixed income and are struggling to pay for their prescriptions and health care premiums. Some of our members are raising children and dealing with college tuition costs. Some of our members are dealing with an uncertain financial future due to unemployment or debt issues. Some have recently retired and are adjusting to a lower personal income. Despite these changes and difficulties, our members continue to give generously and faithfully.

God has blessed Emmanuel for over 50 years. Join me in praying that God will continue to bless our ministry as we give freely for God’s glory and offer our lives fully to God’s service. Don’t wait until you die to make a difference. Begin to give today.

Here's a sample of our 2010 Financial Pledge Card.

As an act of thanksgiving, I promise to put God first in my finances.

I am trusting that as I give generously, God will supply all my needs
according His riches in glory- Philippians 4:19.

Because God has blessed me, I pledge the following amount toward the
2009 Ministry Budget of Emmanuel Baptist Church:

Total: ________________ Monthly: ___________ Weekly: ______________

My gift to the Capital Debt Reduction is 2010:_____________

Name (optional) ¬¬¬_____________________________

This card can be sent to the church office: EBC, 1710 23rd Street, Parkersburg, WV, 26101

Emmanuel is currently in the middle of a significant Capital Improvement campaign.

See Capital page for details.