Chairman, Finance Committee
February 2021
Annual Report - Finance Committee
We had a good year in 2020. I never thought I’d be able to say that. With the pandemic, and church services and Life Groups both being remote, as well as lost jobs or reduced incomes, things were not looking good. We spent most of the year at about 90% of our giving goals and I was thanking the Lord for that. Then, in December, a generous giver - or givers - took us over the top. We reached our budgeted giving goals and spent less than we had budgeted, creating a surplus. Giving was up 7.6% over the previous calendar year and 3.9% more than budgeted. Thank God for your ongoing generous support of the church, and its purpose of reaching souls for Christ locally and globally. I also thank the Pastor and staff for their restraint in spending. Below is a brief summary of Income and Expenses for the past year.
| General Fund Income | 2020 | % of Budgeted Amount |
| Giving | $ 543,606.69 | 103.9% |
| Other income | $ 89,237.90 | 97.7% |
| Total Income | $ 632,844.59 | 103.3% |
| General Fund Expenses | ||
| Payroll Expenses | $ 345,450.17 | 98.0% |
| Add'l Personnel Expenses | $ 76,740.33 | 92.9% |
| Board Expenses | $ 1,343.88 | 44.8% |
| Connections | $ 1,836.53 | 32.8% |
| Outreach | $ 1,422.89 | 14.0% |
| Worship | $ 6,695.60 | 81.6% |
| Property | $ 34,034.88 | 104.7% |
| Discipleship | $ 1,087.15 | 13.6% |
| Finance | $ 26,787.05 | 106.3% |
| Office | $ 1,427.41 | 47.6% |
| Operations | $ 32,942.50 | 84.7% |
| Missions Contribution | $ 36,777.28 | 87.9% |
| Total General Fund Expenses | $567,545.67 | 92.7% |
Because we are a non-profit organization, the largest part of the surplus will go into the Building Maintenance/ Campus Improvement funds. Last year, we used part of these two funds to balance the 2021 budget. In 2020, we allocated approximately 8% of the General Fund giving to Missions. As our Mission Giving is summarized below, you can see that most missions came in under their goals, except where missions received designated gifts because some of you were touched by their specific needs. Overall, Mission giving was 100.9% of the year's goal.
| Missions We Support | 2020 | % of Goal |
| New Church Plant Fund | $ 3,436.91 | 82% |
| New Delhi School | $ 6,368.91 | 152% |
| NAGA (Hope Home) | $ 9,103.91 | 218% |
| Korean Church, Pastor Paul & Susi | $ 1,718.44 | 82% |
| CityTeam Women's Ministry (San Jose) | $ 2,577.68 | 82% |
| Redwood Glen Camp | $ 2,862.68 | 91% |
| Mission Discretionary Funds | $ 2,148.06 | 82% |
| National Ministries (ABHMS) | $ 2,577.68 | 82% |
| GHC Regional | $ 3,007.27 | 82% |
| Mark & Alise Juanes | $ 2,646.69 | 84% |
| Lauran Bethell | $ 3,577.68 | 114% |
| Mylinda Baits | $ 2,777.68 | 89% |
| Kyle & Katrina Williams (Congo) | $ 2,577.68 | 82% |
| Melanie Baggao | $ 2,677.68 | 85% |
| ABSW Operating Budget | $ 1,963.13 | 75% |
| International Ministries | $ 2,748.37 | 75% |
| Total Mission Giving | $ 52,770.46 | 101% |
| SPECIAL OFFERINGS | ||
| America for Christ | $ 760.00 | 35% |
| One Great Hour of Sharing | $ 1,050.00 | 35% |
| World Mission Offering | $ 2,820.00 | 83% |
| Retired Ministers & Missionaries | $ 585.00 | 59% |
Again, thank you for your generosity and for your unfailing support of the church in its mission to be a source of Real Love for Real People, flowing through us from our Real God.
Jim Garvey
Chairman, Finance Committee