St. Clare’s financial update from your treasurers:
Believe it or not, we are now halfway through 2020. This is a good time to give the congregation an update on St. Clare’s financial status. In spite of this pandemic and cessation of in-person worship services, we are in very good financial shape (see table below). You, our wonderful parishioners, have been very generous and faithful in maintaining your giving. As of June 30, we have received 51% of the dollars pledged. In addition to regular giving to the church operating budget, you have responded to calls to support a number of outreach programs. As of this writing, you have given $1845 for St. Peter’s in Detroit, $1820 for the Shelter Association of Washtenaw Country, $700 for immigration relief, $850 for UTO and about $1300 for the youth project to provide fresh produce. Moreover, St. Clarians have contributed more than $8000 this year to both the Back Door Food Pantry and the clergy Discretionary Fund.
Given the uncertainly we felt in April, we thought it prudent to apply for the CARES act Paycheck Protection Program Small Business Loan to assure that we will be able to retain all our amazing staff. We received the loan and have used it to cover all payroll costs for May and June. We will soon be applying for loan forgiveness and if successful, the loan will become a grant.
Know that your treasurers are carefully recording all your e-giving and are coming into the church about every 2 weeks to count and record checks that are mailed in.
Thank you all so much for your faithfulness and your generosity. We can’t wait until we can all again meet in person.
Budget Update Jan.1 – June 30, 2020
Actual Income $ 253,348
Budgeted Income $ 244,525
Actual Expenses $ 249,724
Net cash flow $ 3,624
Actual Pledge Income $ 234,899
Budgeted Pledge Income $ 230,000
Pledge surplus $ 4,899