Financial Budget Update
Fiscal Year 2025 Financial Update and Fiscal Year 2026 Budget
Greetings to our Marble community near and far,
We pray this email finds you well and enjoying the beautiful autumn weather, wherever you are across the country or around the world.
We are pleased to share with you the financial results for Fiscal Year 2025 (July 1, 2024 – June 30, 2025) and our Fiscal Year 2026 budget (July 1, 2025 – June 30, 2026).
Please click here to see the full results.
Revenue:
Pledge giving was very strong this year. Although we did not meet the challenge goal of $1,500,000, pledge giving increased by $60,332 (+4.6%) from the previous year. Pledge giving also increased the year before by $15,398. The movement in increased pledge giving indicates the congregation is stepping forward in faith and generosity, for which we are truly grateful.
Easter Offering increased by $46,000 (+32.7%) from FY24 and exceeded our FY25 goal by $26,615 (+16.6%).
Giving also increased for Christmas, Thanksgiving, MarbleVision and our Children, Youth and Family Ministries. However, we had a decrease in giving to GIFTS (LGBTQ+), Honoring Someone Special and Mission & Outreach from the previous year. We added a Pastoral Benevolence Fund to help people in the congregation with immediate needs.
Program Revenue was strengthened by increased use of the building for weddings and an increase in registration and ticket sales for events sponsored by GIFTS, Music, PrimeTime, and the Women’s Ministry Retreat. We also had dividend and interest income from the portion of the endowment held for operations.
We took a 5.5% draw from the endowment which was in line with our stepdown strategy of moving to the desired 5% draw rate. We have achieved the 5% draw rate in the Fiscal Year 2026 budget shown on the attached document.
Expenses:
Staff continues to manage their budgets very well.
There was an overage in the Music Ministry partially due to mid-year hires of a part-time Music Administrator and the addition of guest organists to provide support on special Sundays and holidays. The remaining overage was due to overspending by the department at the end of the fiscal year. Steps have been taken to ensure this is not repeated.
The overage in the Pastoral Care, Stewardship and Missions line is due to three factors: the mission trip to Rose Castle (reimbursed to the church) that is reported on this line; costs incurred for the CCS fundraising contract (not budgeted for), and the larger distribution from the Easter Offering.
Property underspent on security because of a reimbursement for security costs from the Collegiate Church, and lower than anticipated utilities costs.
Finance and Administration expenses were lower primarily as our denominational dues to the Reformed Church in America and United Church of Christ were reset this year and were ultimately lower than initially anticipated.
Highlights of the Fiscal Year 2026 Budget
We continue to set forth a challenge goal for pledge giving. We believe the congregation can rise to this shared challenge and respond with generosity as we continue to move forward in a new financial reality.
Several ministries received restored funding of up to $10,000 per department to be used in the best way possible, determined by the department head.
We added a new, part-time staff member to lead the 20s & 30s ministry, and a part-time grant writer (contract role).
The endowment draw is 5% of the 12-quarter rolling average of the endowment.
We encourage you to study the FY25 results and FY26 budget and let us know if you have any questions. We plan to have a congregational meeting this fall to explain the results further and we look forward to receiving your input.
On another note, you may have noticed there have been many large-scale property projects completed recently including the restoration of the West Wall of the church building, replacement of the roof over the Vestry building and replacement of the temporary ADA ramp on 29th Street. These were all covered by the settlement agreement with VanBarton (except for the Vestry roof replacement which we funded ourselves) who now owns the lot behind the church (formerly owned by the Collegiate Church Corporation.) We do not yet know the plans for that lot but will inform the congregation as soon as we have information to share.
We continue to have deep gratitude for everyone who has stayed with us through this time of challenge. It is such a joy to be able to have reached the 5% draw rate on the endowment, an effort that took 5 years to accomplish.
This has been done by the grace and help of God, and the support of each of you. Thank you.