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MNO Synod Overview of 2007 Financial Statements

MNO Synod Overview of 2007 Financial Statements. Presented to 12th Biennial Convention Dauphin, MB April 25, 2008. Two Types of Income Streams. Unrestricted (towards operating budget) Benevolence Remittances from Congregations Special Appeals Toonie Sundays Second Mile Giving

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MNO Synod Overview of 2007 Financial Statements

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  1. MNO SynodOverview of 2007Financial Statements Presented to 12th Biennial Convention Dauphin, MB April 25, 2008

  2. Two Types of Income Streams • Unrestricted (towards operating budget) • Benevolence Remittances from Congregations • Special Appeals • Toonie Sundays • Second Mile Giving • Funding from other sources • National Church re stewardship • Restricted (also known as Directed Gifts) • Gifts for designated purposes • CLWR, GHDA, Cameroon Appeal, etc.

  3. General Benevolence Almost Flat-lined • 1% increase from 2006 to 2007

  4. Receipts from Special Appeals(In Support of Operating Budget) • Down 30%

  5. A Rough Guide as to how we spent operating funds in 2007(see p.65)

  6. Directed Gift Receipts in 2007($164,000) • Two-thirds of giving directed to relief & development aid • No change in total giving (2006-2007) Other GHDA & CLWR Flow through funding: gifts forwarded to various designated agencies

  7. Additional Directed Giving • $66,000 raised in 2007 • Pastor Jack and Val in Cameroon overseeing projects

  8. Other Financial Resources(p. 70) • Approx. $180,000 (excluding Cameroon) • 50% designated to mission development within MNO • 18% is balance of First English Legacy funds used to launch LUM • 8% is in a Seminary Student Aid fund

  9. Internally Restricted Assets(see p. 71) • Mostly small pools of funds set aside in previous years for set purposes • Total available: approx. $63,000 • Major increment in 2007 • Gift from Faith, Winnipeg ($30,000) • Designated for new initiatives • Synod Council visioning process to determine use of funds received from Faith, Winnipeg.

  10. Two Tales • In Mission for Others • Designated giving remains strong • The Cameroon experience demonstrated room for growth • Day to Day operations • 2007 was a break even year • Margin for error is slim. Unrestricted reserves are almost depleted. • Re-establish “second-mile” giving

  11. Other Ministries(p. 75) • Wholly-owned subsidiaries • Luther Village • Lutheran Urban Mission • MNO Foundation for Mission and Ministry

  12. MNO Foundation • Established with proceeds of sale of Sunrise Camp • Additional bequests, gifts to enlarge the fund are welcomed • Endowment stands at $191,000 • Approximately $5,000 per year in interest is transferred to MNO Synod • Funds used to support Youth and Mission-minded projects initiated by MNO congregations.

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