Finance Committee Report

August 7, 2019

Shady Grove United Methodist Church Finance Committee Report


We’re glad you are here. This page will provide important summary financial performance
information and commentary from your finance committee each month. Additional information and more detailed reports will be available by logging into your account at Realm https://e.onrealm.org and looking under Groups for the church group, Shady Grove United Methodist Church, and then looking for Files within the church group. If you have not set up a Realm account, I encourage you to do so, by emailing Frank Basil, our interim office administrator, at realm@shadygroveumc.net so that he can send you an invitation.

Your stewardship (prayers, presence, gifts, service, and witness) provides the means, while God’s
guidance and our due-diligence deliver on His will for Shady Grove United Methodist Church. Our
committee charter is to be fiscally sound stewards, be transparent and ensure that the church’s
financial resources are properly and best utilized, to accomplish the mission of helping our
community know and grow in Christ.

JUNE 2019

Operating Performance

Through June are 6 months and 26 Sundays or 50% through the 12 months of the year. Actual
revenue receive through June was only 46% of our annual budget.

This revenue shortage was partially offset by actual expenses coming in at only 46% of the annual
budget year to date mainly due timing and not a permanent positive variance. This yielded an actual
year to date net loss of about $(23,000).

We are in the summer months when members are traveling more, so please continue your planned
giving throughout the year and consider accelerating contributions. This really helps our committee
plan, make decisions and maintain a balanced budget. Also please download the Guide To Christian Giving for information on giving tax savings strategies, corporate matching, etc.

Building/Capital Campaign Fund

Our current debt from facility expansions years ago is down to less than 20% of the original loan and
and Trustees have accepted the option for a 3-month extension to late July 2019, at the existing rate,
to provide time to finalize a refinancing as part of starting Phase 1 of the church building project.

As of June 30, 2019, we are 36 months or 100% through the 36-month Capital Campaign and we have
only collected 85% of what was originally pledged. Please complete your planned contributions now
that the 3-year campaign collection period has ended.

Your Role
You can help SGUMC by submitting an annual pledge which is critical to help us plan and better
maintain balanced budgets. Currently less than 75% of our annual budget is covered by pledges.
You can also help by giving routinely (weekly, monthly, etc.) by
  1. ACH (Automated Clearing House) or EFT (Electronic Funds Transfer) coordinated through our Finance Secretary Pam Sweeney, psweeney@shadygroveumc.net.
  2. Online giving through Realm, using a credit card or bank account. Request an invitation to join Realm by sending an email to realm@shadygroveumc.net.
If you have any questions, comments, or ideas about the finances of the church, please do not
hesitate to reach out to:
God bless you all for your support of SGUMC,
Steve Howell
Finance Chair

Amazon Smile

Do you shop at Amazon? Did you know that Amazon has a program that gives 0.5% of eligible purchases back to non-profits in the form of a rebate?

To take advantage of this program, simply start your shopping at https://smile.amazon.com. Log in to your Amazon account as you normally do.

Search for the Amazon Smile account labeled, Shady Grove United Methodist Church. You’ll see other churches with the same name, so be sure to select the option in Glen Allen , VA. Once selected, this setting remains with your account. You won’t need to go through this setup process again. For all future Amazon shopping, just be sure to start by going to https://smile.amazon.com to login to your account

If you are in the habit of using the Amazon app on your smart phone, you can easily replace the app with a shortcut button to the https://smile.amazon.com site.

This is not an endorsement of Amazon by the finance committee. This is a means for those interested to provide additional support to the general fund and ministries at SGUMC.