Finance Team Update – December 2014
Submitted By Lori Stone Sirtosky
We have completed entering all transactions that predate the opening of our bank account (from June 10, 2012 to October 6, 2014) into our bookkeeping software. We can now run meaningful financial reports to analyze our position.
YAY! Analyzing data by calendar year, we have taken in more than we spent in 7 of the last 11 quarters.
DOH! Prior to our #GivingTuesday campaign, we had operated at a net loss the last 4 out of 5 quarters.
YAY! Due to the generosity of our supporters on #GivingTuesday, we are on track to reverse this downward trend in the 4th quarter of 2014.
EXPLANATION A steady rise in expenditures as we ramped up in 2014 contribute to this financial picture. Another factor: we have not had a focused fundraiser since Spring 2013, relying almost entirely on the Sunday plate since then.
See the chart below for the trends. A more detailed report will be made available at the January Community Meeting or upon request.
- We plan to send out end of year summaries of any contributions we can track (i.e., non-cash) to all our donors. Expect those in January.
- You can contribute financially to Sacred Path in a number of ways:
- Write a check to “Sacred Path Church”.
- Make a one-time donation via credit card.
- Set up a automatic monthly donation via credit card.
- Set up a pledge to be fulfilled by check, credit card, or electronic funds transfer (EFT).
- NOTE: Pledges are not automatically withdrawn after being set up. You will receive a monthly statement and can choose how much and exactly when to send a donation.
- We now have more than one signatory on the account. Eric Hinkle was added in November.
- Two more Intuit Payments card readers arrived in the mail, so we now have three total.
- The PO Box mailing address is now our standard address in all accounting software to be used on pledge statements and receipts.
- It turns out PNC charges $3.00 per night deposit for a processing fee. Good grief. So we won’t be doing that anymore.