Dear Members and Friends of St. Luke’s,
Love calls for candor and transparency. This letter intends just that. Financial disclosure lives at the heart of Big Love.
Our financial leaders currently project that St. Luke’s is likely to experience a shortfall by December 31, 2020. Although the exact extent of the shortfall, of course, cannot be determined until year’s end, our best guess is that, based on the current trajectory, the shortfall is likely to be approximately $160,000.
The pandemic has had a dramatic impact on our finances. Non-pledge giving - gifts from non-pledgers and opportunities to receive offerings during services and other gatherings (plate offerings, etc.) - has declined significantly, as have our parking lot revenue and other sources of income (e.g., weddings). Our giving from pledging members is inspiringly healthy and generous. And the St. Luke’s Endowment Fund, Inc., a separate non-profit corporation which includes funds contributed for the long-term sustainable support of the Church, provided its annual distribution which supports almost 20% of the Church’s operating budget. For that healthy, abundant giving and for the Endowment provided by those who have gone before us, we give thanks.
Now, how to deal with this real shortfall, currently projected to be approximately $160,000? The first option that comes to mind is to cut non-essential and no-longer-applicable expenses which we have done. The second option is to cut salaries across the board, which we are prepared to do. The third option is to restructure staff due to changes in our practices. We are prepared to do that as well.
Before we opt for the above, we need to engage you in the decision. So, now we address the beautiful diversity of our Big Tent Church:
