OVERVIEW

We praise God from whom all blessings flow! Christ Church finished the fiscal year with a positive net income of $93,899. This extraordinary result is due in large part to revenue being higher than anticipated and expenses being lower than estimated. In addition, the Vestry authorized the use of $214,000 from reserves to meet operational costs, however, we only used $142,644 (66.7%). We were certainly blessed by the generosity of the people who call Christ Church their home as overall contributions exceeded last year by $58,000 (4%). We praise God!

The blessings continued to pour out this year in the form of an unexpected estate gift from a faithful member of our parish. Christ Church received over $265,000 and a significant portion of the gift was placed in reserves, which helped to replenish some of the Vestry-approved subsidy that has been withdrawn over the last several years. At the end of the year, Christ Church had $1.67 million in available reserves for operations. This is a 2.6% increase from last year’s reserves and not only reflects our financial stability but positions us to continue to be a blessing in our immediate and ever-expanding in-person and online communities. We praise God!

GRANT FUNDING

In December, the blessings continued to flow as Christ Church received a $1.123 million dollar grant from Lilly Endowment’s Thriving Congregations Initiative for a 5-year project titled: The Narthex. The project is designed to assess and enhance our online presence in addition to helping lead and equip 30 other parishes in a peer-networked, resource-sharing model of digital engagement. The Narthex is entirely funded by the grant, and those funds are reflected in our designated funds and not in the church’s general operating funds. The operating cash and designated funds totaled $3,515,517 and Total Net Assets was $4,672,270. We praise God!

Treasureland ended the calendar year with a surplus of $69,040 thanks in part to unexpected grants and lower than anticipated expenses. Under the exemplary leadership of Preschool Director Mindy Tipton, Treasureland continues to nurture the development of its teachers and families while expanding its evangelistic reach in the communities it serves. We praise God!

2024 Budget

The Finance Committee recommended, and the Vestry approved, a 2024 budget with conservative estimates for revenue and realistic estimates for expense. Revenue estimates are based on monthly averages of the past two years. The expense budget estimates are based on 2024 ministry plans and known fixed costs, with additional Personnel costs. The 2024 budget continues to include allocations to Outreach of 10% of tithes and offerings and an additional 10% to the Diocese. Overall, the budget assumptions create the need to use $216,000 from reserves, which is $2,000 more than the previous year’s estimate. The church will only withdraw from reserves each month if necessary and a 3-year plan is in place to balance our budget and eliminate the need for a subsidy from reserves.

PERSONNEL CHANGES

Following Fr. Joseph Wolyniak’s transition to The Narthex Program Director, we hired Fr. Todd Blackham as our new Associate Rector in the first quarter of 2024. We also hired a Communications Coordinator to assist Fr. Joseph with The Narthex project and work with our Communications Director, DeeDee Atwood, to assimilate our church communications across all online platforms. All personnel and project-related expenses for The Narthex will initially be funded solely by the grant and not the operating budget.

Online Giving

Online giving continues to be a helpful resource for people to support the life and ministry of Christ Church with 42% of all donations given online. During 2023, online giving totaled $597,827, which is a 2.5% increase from the previous year. We praise God!

SPECIAL THANKS

A special thanks to our Treasurer Jeff Rudolph and Assistant Treasurer Fran Berry, who have faithfully served during the past year. Additional thanks to the members of our Finance Committee including the late Bill Cook, Spence Flournoy, Debbie Jonas, Caroline Mann, John Morrison, Jim Pike, Matt Pottsand Brett Rush. The committee continues to exercise wise judgment and faithful commitment to stewarding all that the Lord has blessed Christ Church with and we praise Him for that and so much more!