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GCC annual financial report for 2010
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2010
Gospel Community
Church Annual Report
Contents Introduction & Thanks ..................................................................................... 4
The Mission .................................................................................................. 4
Giving Summary............................................................................................. 5
Ministry Expense Summary ................................................................................ 7
Internal Ministries ......................................................................................... 10
Salaries ................................................................................................... 11
Facility ................................................................................................... 11
Fellowship ............................................................................................... 12
Administrative ........................................................................................... 12
Other ..................................................................................................... 13
External Ministries......................................................................................... 13
Global Missions .......................................................................................... 14
Local Missions ........................................................................................... 14
Global Needs ............................................................................................ 15
Local Needs .............................................................................................. 15
The Year in Review ........................................................................................ 16
Tables Table 1: Monthly Giving ................................................................................... 5
Table 2: Givers Breakdown................................................................................ 6
Table 3: Overall Expense Summary ...................................................................... 9
Table 4: Salaries ........................................................................................... 11
Table 5: Facility Costs .................................................................................... 11
Table 6: Fellowship Costs ................................................................................ 12
Table 7: Administrative Costs ........................................................................... 12
Table 8: Other Costs ...................................................................................... 13
Table 9: Global Missions .................................................................................. 14
Table 10: Local Missions .................................................................................. 14
Table 11: Global Needs ................................................................................... 15
Table 12: Local Needs .................................................................................... 15
Table 13: Cash Flow Summary ........................................................................... 16
Figures Figure 1: Tithe Breakdown ................................................................................ 6
Figure 2: Internal vs. External Spending ................................................................ 7
Figure 3: Overall Expense Summary ..................................................................... 8
Figure 4: Internal Expense Summary ................................................................... 10
Figure 5: External Expense Summary ................................................................... 13
Introduction & Thanks “For just as the body is one and has many members, and all the members of the body,
though many, are one body, so it is with Christ. For in one Spirit we were all baptized into
one body - Jews or Greeks, slaves or free-and all were made to drink of one Spirit. For the
body does not consist of one member but of many.” Romans 12:12-14
Contributions to the mission of Gospel Community Church have come in many forms – some
have volunteered their time, some have volunteered their talents, and others have offered
their finances. It is a privilege to be a part of this body of believers and to strive side by side
in our various roles for the advancement of the gospel. Often times those actively involved in
ministry receive thanks and appreciation from those whom they serve and encouragement
from those whom they serve with. However, those that are unable to attend our service
projects and outreach programs are many times hard at work performing nine to five jobs.
Our annual report is intended to thank those that have contributed their hard earned finances
throughout the year by sacrificing part of their time and effort that was spent in the office or
on the job. Your financial contributions represent hours spent working in the service of Christ
and we appreciate your participation in the gospel. Thank you for your generous donations
and helping us advance the kingdom of God.
The Mission “Go therefore and make disciples of all nations, baptizing them in the name of the Father
and of the Son and of the Holy Spirit, teaching them to observe all that I have commanded
you. And behold, I am with you always, to the end of the age.” Matthew 28:19-20
All our efforts at Gospel Community Church are focused on bringing glory to God the Father
and being faithful to the commandment to create disciples in the name of Jesus Christ.
These efforts include our time and energy as well as your financial contributions. It is
important to us we are 100% transparent in how we allocate your contributions to the work of
Jesus Christ and for that reason we attempt to disclose all information regarding how your
generous donations have been spent throughout this fiscal year.
Each contribution was spent with the purpose and intention of support our goal as a church
body to love God, grow together in Christ, and reach out with the love of Christ.
Giving Summary “But as you excel in everything – in faith, in speech, in knowledge, in all earnestness, and in
our love for you – see that you excel in this act of grace also. I say this not as a command,
but to prove by the earnestness of others that your love also is genuine.” 2 Corinthians 8:7-8
In 2010 we had contributions from 49 different individuals and families. We break down the
giving into two categories – tithes and donations. The tithes include regular contributions
from our church family on a weekly or monthly basis. This dollar amount is what we use to
plan and budget our church ministries. The other category is donations which we classify as
irregular one-time contributions. Our fiscal year in 2010 began on February 1st, 2010 and
represents an 11 month year.
The monthly contributions from tithes and donations are see in Table 1. The total giving
received by Gospel Community Church in 2010 was $53,718.59.
Month Tithe Donation Total
January - - -
February $2,345.60 $0.00 $2,345.60
March $3,861.89 $0.00 $3,861.89
April $2,836.30 $0.00 $2,836.30
May $3,886.00 $0.00 $3,886.00
June $5,144.50 $0.00 $5,144.50
July $4,023.05 $0.00 $4,023.05
August $4,266.00 $0.00 $4,266.00
September $3,201.00 $0.00 $3,201.00
October $3,528.00 $0.00 $3,528.00
November $4,189.25 $2,200.00 $6,389.25
December $3,737.00 $10,500.00 $14,237.00
Total $41,018.59 $12,700.00 $53,718.59
Monthly Average $3,728.96 $1,154.55 $4,883.51
Table 1: Monthly Giving
Figure 1 represents the percentage of our tithe received from the 49 individuals and families
which regularly contributed throughout the year
received from the congregation in the form of cash
the 49 regular contributors.
Our regular contributors were distributed into five different tithe ranges based on total
dollars given throughout the entire year. The tithe ranges and number of members which fell
in each range is found in Table 2. This table is intended to help us tra
of our members over the years.
grace is an important sign of spiritual growth and understanding of the gospel.
1 Philippians , 2 Corinthians 8:, Matthew
$32,400.0479%
Figure 1 represents the percentage of our tithe received from the 49 individuals and families
which regularly contributed throughout the year compared to the anonymous donations
ongregation in the form of cash. Roughly 80% of all donations came from
Figure 1: Tithe Breakdown Our regular contributors were distributed into five different tithe ranges based on total
dollars given throughout the entire year. The tithe ranges and number of members which fell
in each range is found in Table 2. This table is intended to help us track the giving patterns
of our members over the years. An increased percentage of givers excelling in this act of
grace is an important sign of spiritual growth and understanding of the gospel.
Tithe Range Members
$0 - $100 16
$101 - $500 18
$501 - $1,000 6
$1,001 - $5,000 9
$5,000+ 0
Table 2: Givers Breakdown
Philippians , 2 Corinthians 8:, Matthew
$8,618.5521%
Figure 1 represents the percentage of our tithe received from the 49 individuals and families
compared to the anonymous donations
. Roughly 80% of all donations came from
Our regular contributors were distributed into five different tithe ranges based on total
dollars given throughout the entire year. The tithe ranges and number of members which fell
ck the giving patterns
An increased percentage of givers excelling in this act of
grace is an important sign of spiritual growth and understanding of the gospel.1
Congregation
Regular Givers
Ministry Expense Summary“The harvest is plentiful, but the laborers are few; therefore pray earnestly to the Lord of
the harvest to send out laborers into his
In the first century Christ told his disciples that the harvest is plent
few. This statement holds true two
effort to be efficient with the money G
we categorize our spending in one of two ways: Internal or External. Finances spent
internally are for ministries that are focused on discipleship and fellowship of our church
body; such as Sunday morning gatherings or small groups
important for the spiritual health of the body of Christ and as we mature and grow internally
it empowers us, encourages us, and teaches us to share
Ultimately the objective is to have a missional church
internal costs help facilitate in this goal of taking the gospel to the lost. The internal costs
include administrative expenses, facility, fel
Finances spent externally are for ministries which are focused on meeting needs and
spreading the gospel to the lost
Community Church is to spend 50% of all
that in 2010 we spent roughly 73% internally and 27% externally. In 2011 we are targeting 6
internally versus 33% externally.
and external spending stems from our relatively sm
Figure
2 Do unto others as you would have them
$9,426.81 27%
Summary The harvest is plentiful, but the laborers are few; therefore pray earnestly to the Lord of
the harvest to send out laborers into his harvest.” Matthew 9:37-38
In the first century Christ told his disciples that the harvest is plentiful, but the
few. This statement holds true two-thousand years later and for this reason we make every
effort to be efficient with the money God has entrusted to us. At Gospel Community Church
we categorize our spending in one of two ways: Internal or External. Finances spent
are for ministries that are focused on discipleship and fellowship of our church
g gatherings or small groups. We believe these functions are
important for the spiritual health of the body of Christ and as we mature and grow internally
it empowers us, encourages us, and teaches us to share the love of Christ externally.
e objective is to have a missional church – the way Christ intended it. The
internal costs help facilitate in this goal of taking the gospel to the lost. The internal costs
administrative expenses, facility, fellowship, salaries, and others.
nces spent externally are for ministries which are focused on meeting needs and
spreading the gospel to the lost - both locally and globally. Our long term vision at
Community Church is to spend 50% of all giving internally and 50% externally.
that in 2010 we spent roughly 73% internally and 27% externally. In 2011 we are targeting 6
% externally. The difficulty in obtaining our objective of 50/50 in internal
and external spending stems from our relatively small giving base.
Figure 2: Internal vs. External Spending
Do unto others as you would have them
$25,320.62 73%
The harvest is plentiful, but the laborers are few; therefore pray earnestly to the Lord of
, but the laborers are
thousand years later and for this reason we make every
od has entrusted to us. At Gospel Community Church
we categorize our spending in one of two ways: Internal or External. Finances spent
are for ministries that are focused on discipleship and fellowship of our church
We believe these functions are
important for the spiritual health of the body of Christ and as we mature and grow internally
the love of Christ externally.
the way Christ intended it. The
internal costs help facilitate in this goal of taking the gospel to the lost. The internal costs
lowship, salaries, and others.
nces spent externally are for ministries which are focused on meeting needs and
long term vision at Gospel
ly and 50% externally.2 Figure 2 shows
that in 2010 we spent roughly 73% internally and 27% externally. In 2011 we are targeting 67%
The difficulty in obtaining our objective of 50/50 in internal
Internal Spending
External Spending
Figure 3 shows the overall spending of Gospel Community Church for all categories both internally and externally. Each categ
of spending is discussed in further detail in the following sections.
Figure
$833.32 2%
$3,424.0010%
$0.000%
$4,238.2912%
$1,764.52
Figure 3 shows the overall spending of Gospel Community Church for all categories both internally and externally. Each categ
further detail in the following sections. The total spending in 2010 was $34,747.43.
Figure 3: Overall Expense Summary
$1,258.524%
$4,600.0013%
$834.333%
$17,794.4551%
$1,764.525%
Figure 3 shows the overall spending of Gospel Community Church for all categories both internally and externally. Each category
The total spending in 2010 was $34,747.43.
Administrative
Facility
Fellowship
Salaries
Other
Global Missions
Global Needs
Local Missions
Local Needs
Table 3 shows a breakdown of our 2010 financial goals (Target) compared to the results achieved (Actual). The overall results
indicated that we maintained well with our budgeting goals for 2010.
Target Actual Delta
Main Categories Annual Total
Monthly
Total Percentage Annual Total Monthly Total Percentage
Annual
Total
Monthly
Total
Administrative ($1,137.19) ($94.77) 3.00% ($1,258.52) ($104.88) 3.62% ($121.33) ($10.11)
Facility ($5,685.94) ($473.83) 15.00% ($4,600.00) ($383.33) 13.24% $1,085.94 $90.50
Fellowship ($1,137.19) ($94.77) 3.00% ($834.33) ($69.53) 2.40% $302.86 $25.24
Salaries ($18,195.02) ($1,516.25) 48.00% ($17,794.45) ($1,482.87) 51.21% $400.57 $33.38
Advertising $0.00 $0.00 0.00% ($396.01) ($33.00) 1.14% ($396.01) ($33.00)
Children's
Ministry ($189.53) ($15.79) 0.50% ($100.00) ($8.33) 0.29% $89.53 $7.46
Discipleship ($189.53) ($15.79) 0.50% ($174.00) ($14.50) 0.50% $15.53 $1.29
Miscellaneous ($189.53) ($15.79) 0.50% ($163.31) ($13.61) 0.47% $26.22 $2.19
Global Missions ($3,601.10) ($300.09) 9.50% ($3,424.00) ($285.33) 9.85% $177.10 $14.76
Global Needs $0.00 $0.00 0.00% $0.00 $0.00 0.00% $0.00 $0.00
Local Missions ($5,685.94) ($473.83) 15.00% ($4,238.29) ($353.19) 12.20% $1,447.65 $120.64
Local Needs ($1,895.31) ($157.94) 5.00% ($1,764.52) ($147.04) 5.08% $130.79 $10.90
Total ($37,906.29) ($3,158.86) 100.00% ($34,747.43) ($2,895.62) 100.00% $3,158.86 $263.24
% Inside ($26,723.93) ($2,226.99) 70.50% ($25,320.62) ($2,110.05) 72.87% $1,403.31 $116.94
% Outside ($11,182.35) ($931.86) 29.50% ($9,426.81) ($785.57) 27.13% $1,755.54 $146.30
Table 3: Overall Expense Summary
Internal Ministries “So then, as we have opportunity, let us do good to everyone, and especially to those who
are of the household of faith.” Galatians 6:10
The ministries internal to the church are intended to help disciple our existing members and
create opportunities for fellowship throughout the year so that our love for each other might
abound more and more.3 As we grow in the faith and mature as Christian’s
effort spent focusing on the needs of the church body is intended to motivate us as believers
to take the gospel to the world.
In 2010 we spent roughly 73% of all
church. The major categories of spending include
salaries. The breakdown of interna
following sections.
Figure
3 Phili
$17,794.4570%
So then, as we have opportunity, let us do good to everyone, and especially to those who
are of the household of faith.” Galatians 6:10
ministries internal to the church are intended to help disciple our existing members and
create opportunities for fellowship throughout the year so that our love for each other might
As we grow in the faith and mature as Christian’s
effort spent focusing on the needs of the church body is intended to motivate us as believers
to take the gospel to the world.
In 2010 we spent roughly 73% of all expenses, or $25,320.62, on ministries internal to the
The major categories of spending include administrative, facilities, fellowship, and
The breakdown of internal expenses is found in Figure 4 and is discussed in the
Figure 4: Internal Expense Summary
$1,258.525%
$4,600.0018%
$833.32 3%
So then, as we have opportunity, let us do good to everyone, and especially to those who
ministries internal to the church are intended to help disciple our existing members and
create opportunities for fellowship throughout the year so that our love for each other might
As we grow in the faith and mature as Christian’s this time and
effort spent focusing on the needs of the church body is intended to motivate us as believers
, on ministries internal to the
administrative, facilities, fellowship, and
l expenses is found in Figure 4 and is discussed in the
$834.334%
Administrative
Facility
Fellowship
Salaries
Other
Salaries
“Let the elders who rule well be considered worthy of double honor, especially those who
labor in preaching and teaching. For the Scripture says, “You shall not muzzle an ox when it
treads out the grain,” and, “The laborer deserves his wages.” 1 Timothy 5:17-18
Salaries represent the largest percentage of our internal ministry expenses. This year salaries
made up 70% of all internal ministry expenses and 51% of all expenses at the church. While
the percentages are seemingly high the actual numerical values for the salaries are
exceedingly low. We believe that those who preach the gospel should earn their living from
the gospel and would like to see increases in salaried positions at the church to facility our
goal of creating disciples for Christ.4 As giving increases we look forward to increasing the
absolute value of the salaried positions.
Teaching Pastor $13,903.20
Worship Leader $3,491.25
Total $17,394.45
Table 4: Salaries
Facility
The James River Conference Center located on 400 Court Street has been an incredible
blessing for our church body. Presently we pay $100 per week to cover our rent for facility
use. The aggregate total of facility costs came to $4,600 in 2010. It is the vision of Gospel
Community Church to keep facility costs at low as possible to limit the amount of financial
resources that are tied up in our building costs. The James River Conference Center is up for
sale in 2011 and should the building sell we may be forced to relocate and greatly increase
facility expenses in 2011.
Facility $4,600
Table 5: Facility Costs
4 1 Corinthians
Fellowship
“that is, that we may be mutually encouraged by each other’s faith, both yours and mine.”
Romans 1:12
At Gospel Community Church we believe it is important to encourage one another both
spiritually and practically in the way we spend our time and resources.5 In 2010 we spent
$834.33, or 2.40% of total expenses, on activities that we consider fellowship oriented. These
include meals together, parties for church members, cook outs at Peaks View Park, and gifts
for those in our family of faith. We believe that gathering together to enjoy the company of
those in the family of faith is an important way to display our love for each other to the
world.6
Fellowship $834.33
Table 6: Fellowship Costs
Administrative
“For the sons of this world are more shrewd in dealing with their own generation than the
sons of light.” Luke 16:8
Administrative costs go toward required expenses to operate our church as a legal entity in
the United States. These fees typically include insurance, postage fees, taxes, ATM fees,
purchasing of checks, paper, etc. It is our goal to keep these fees to a minimum to maximize
our ability to give toward the mission of the church. In 2010 administrative expenses were
$1,258.52, or 3.62% of total expenses, on activities required for church operation. We hope
to reduce this percentage in the future.
Administrative $1,258.52
Table 7: Administrative Costs
5 Romans 1 6 1 John
Other
The remaining internal expenses for the church were grouped into a single catch
called “other”. These expenses include advertising expenses, children’s ministry, discipleship
expenses and other miscellaneous expenses incurred throughout the y
campaign was run for several weeks on Facebook in an attempt to attract new members to
the church. This campaign and the fees for establishing our church Website
the results were very difficult to gauge. We will lik
campaign in 2011 but will continue maintaining our Website (www.gospelcc.org)
discipleship expenses were primarily reimbursement for ticket fees and driving expenses for
teaching members of the church that att
these expenses totaled $174.00.
External Ministries “Go therefore and make disciples of all nations, baptizing them in the name of the Father
and of the Son and of the Holy Spirit, teaching them to observe all that I have commanded
you. And behold, I am with you always, to the end of the age.
Ultimately all the ministries we perform internally within the church are designed to create
disciples that are prepared to take the gospel to the ends of the earth. Our external
ministries are geared toward taking the gospel to all the nations, starting
extending globally. We categorize expenses for our external ministries into four categories:
Global Needs, Global Missions, Local Needs, & Local Missions. We believe that through these
four avenues we can effective
Figure
$4,238.2945%
$1,764.52
The remaining internal expenses for the church were grouped into a single catch
called “other”. These expenses include advertising expenses, children’s ministry, discipleship
expenses and other miscellaneous expenses incurred throughout the year. Our advertising
campaign was run for several weeks on Facebook in an attempt to attract new members to
and the fees for establishing our church Website
the results were very difficult to gauge. We will likely not attempt another similar
but will continue maintaining our Website (www.gospelcc.org)
discipleship expenses were primarily reimbursement for ticket fees and driving expenses for
teaching members of the church that attended various conferences throughout the year
these expenses totaled $174.00.
Other $818.32
Table 8: Other Costs
Go therefore and make disciples of all nations, baptizing them in the name of the Father
of the Son and of the Holy Spirit, teaching them to observe all that I have commanded
you. And behold, I am with you always, to the end of the age.” Matthew 28:19
Ultimately all the ministries we perform internally within the church are designed to create
disciples that are prepared to take the gospel to the ends of the earth. Our external
ministries are geared toward taking the gospel to all the nations, starting
globally. We categorize expenses for our external ministries into four categories:
Global Needs, Global Missions, Local Needs, & Local Missions. We believe that through these
four avenues we can effectively fulfill the great commission of Christ.
Figure 5: External Expense Summary
$3,424.0036%
$0.000%
$4,238.29
$1,764.5219%
Global Missions
Global Needs
Local Missions
Local Needs
The remaining internal expenses for the church were grouped into a single catch-all category
called “other”. These expenses include advertising expenses, children’s ministry, discipleship
ear. Our advertising
campaign was run for several weeks on Facebook in an attempt to attract new members to
and the fees for establishing our church Website cost $396.01 and
attempt another similar Facebook
but will continue maintaining our Website (www.gospelcc.org). The
discipleship expenses were primarily reimbursement for ticket fees and driving expenses for
ended various conferences throughout the year –
Go therefore and make disciples of all nations, baptizing them in the name of the Father
of the Son and of the Holy Spirit, teaching them to observe all that I have commanded
Matthew 28:19-20
Ultimately all the ministries we perform internally within the church are designed to create
disciples that are prepared to take the gospel to the ends of the earth. Our external
ministries are geared toward taking the gospel to all the nations, starting locally and
globally. We categorize expenses for our external ministries into four categories:
Global Needs, Global Missions, Local Needs, & Local Missions. We believe that through these
Global Missions
Global Needs
Local Missions
Local Needs
Global Missions
“But you will receive power when the Holy Spirit has come upon you, and you will be my
witnesses in Jerusalem and in all Judea and Samaria, and to the end of the earth.” Acts 1:8
Global missions represented 10.23%, or $3,424.00, of overall spending at Gospel Community
Church in 2010. The majority of these funds were spent to support short-term mission terms
for our church family. In the future we would like to see this percentage increase and also to
be able to contribute more substantially to major overseas discipleship making processes –
such as church plants in India. In 2011 we are preparing a team to plant multiple churches in
India and are praying that God will provide the finances to help support these churches.
Global Missions $3,424.00
Table 9: Global Missions
Local Missions
“But you will receive power when the Holy Spirit has come upon you, and you will be my
witnesses in Jerusalem and in all Judea and Samaria, and to the end of the earth.” Acts
1:8
Local missions represented 12.20%, or $4,238.29, of overall spending at Gospel Community
Church in 2010. The majority of these funds were spent on our Saturday Service projects and
community outreach programs. We believe that our ministries on Saturday’s were effective
at sharing the gospel, being obedient to Christ’s command to take care of the poor, and
creating disciples of our current church members. We hope to continue this ministry
outreach in 2011.
In addition to our Saturday Serve outreach we also participate in Re-Entry dinners for
prisoners that have been set free and begin to live normal lives. We also were able to fund a
Thanksgiving dinner give-away for the families we have been serving throughout the year.
Also, we were able to purchase Christmas presents for the families and children that we met
through our Saturday Service program.
Local Missions $4,238.29
Table 10: Local Missions
Global Needs
In 2010 we did not allocate any funds to global needs. While meeting the needs of those
around the world is incredibly important we have been able to support ministries that both
meet needs and are gospel focused. We hope to continue to find ministries that are missional
in their purpose and meet needs by sharing the gospel and for this reason expect to have no
increased spending in global needs in 2011.
Global Needs $0.00
Table 11: Global Needs
Local Needs
“Then the King will say to those on His right, ‘Come, you who are blessed by my Father,
inherit the kingdom prepared for you from the foundation of the world. For I was hungry
and you gave me food, I was thirsty and you gave me drink, I was a stranger and you
welcomed me, I was naked and you clothed me, I was sick and you visited me, I was in prison
and you came to me.’” Matthew 25:34-36
Meeting needs for those locally, particularly those in our church family, is an essential
element to our mission at Gospel Community Church. In 2010 we spent $1,764.52, or 5.08%,
of overall spending on meeting local needs. This includes buying groceries for those in our
community, paying water bills, electric bills, and supporting those in our church that came
across difficult financial times. We look forward to continuing to support and serve our
community and our church family to tangibly share the love of Christ in a practical way.
Local Needs $1,764.52
Table 12: Local Needs
The Year in Review
Month Tithe Donation Expenses
Net
Change
Starting
Balance
Ending
Balance
January
- - - - -
February $2,345.60 $0.00 ($2,875.93) ($530.33) $7,500 $6,969.67
March $3,861.89 $0.00 ($2,623.46) $1,238.43 $6,969.67 $8,208.10
April $2,836.30 $0.00 ($1,982.01) $854.29 $8,208.10 $9,062.39
May $3,886.00 $0.00 ($4,097.40) ($211.40) $9,062.39 $8,850.99
June $5,144.50 $0.00 ($3,556.25) $1,588.25 $8,850.99 $10,439.24
July $4,023.05 $0.00 ($1,581.08) $2,441.97 $10,439.24 $12,881.21
August $4,266.00 $0.00 ($4,076.67) $189.33 $12,881.21 $13,070.54
September $3,201.00 $0.00 ($2,912.18) $288.82 $13,070.54 $13,359.36
October $3,528.00 $0.00 ($1,944.47) $1,583.53 $13,359.36 $14,942.89
November $4,189.25 $2,200.00 ($4,822.30) $1,566.95 $14,942.89 $16,509.84
December $3,737.00 $10,500.00 ($4,275.68) $9,961.32 $16,509.84 $26,471.16
Total $41,018.59 $12,700.00 ($34,747.43) $18,971.16
Table 13: Cash Flow Summary
In 2010 we completed 42 projects through our Saturday Serve outreach with roughly 20
volunteers per week, attended 12 Re-Entry dinners to preach the gospel to ex-convicts,
organized and delivered Thanksgiving dinners for twenty families in Lynchburg, and purchased
Christmas gifts for six families downtown. We also were able to sponsor Global Mission trips
to Africa and Asia for several church members.
All the efforts in 2010 were geared toward equipping people to effectively share the gospel of
Christ. We saw tremendous spiritual growth and unity in our family of faith throughout the
year and an increased boldness to share the gospel.
Financially 2010 was an excellent year for Gospel Community Church. We began the year
with a balance of $7,500 and ended the year with a balance of $26,471.16. We increased our
financial savings to continue to operate the church at a level we believe to be appropriate as
good stewards of the finances given to us. Using discernment we believe that we need to
maintain a savings of at least six months of operating expenses, mainly salaries and facility
costs, to run the church appropriately. This six month cushion is roughly $14,000 for 2010.
The $12,471.16 excess above this number will be given away toward gospel oriented
ministries external to the church in 2011.