The financial data for 2024 has been finalized and summarized as shown below.
Monthly Income
Income per month in 2024 divided into four main categories:
- Pledge Income: Donations from parishioners who pledged for 2024.
- Regular Income: Donations from parishioner who did not pledge for 2024.
- Rental Income: Income from renting out some of our facilities.
- Other Income: Other income is loose plate, salary support from the Diocese for Phillip Bass the first 6 months of 2024, interest from our Money Market bank account and various other minor income sources.
Monthly Expenses
Expenses per month in 2024 divided into main categories, of which the major ones are:
- Salaries, Pension, Health Insurance: also referred to as Church Management. Costs associated with our staff.
- Diocesan Assessment: What our church contributes to the Diocese of North Carolina.
- Maintenance, Utilities and Insurance: Facilities related expenses.
- Loan Interest and Loan Principal: Mortgage payments.
Net Operating Income Per Month in 2024
The net operating income of a month is that month’s total income minus that month’s total expenses.
Over the year, the net operating income varies. The early months and the later months in the year are typically those where the church received most of its income, while expenses over the year are more constant.
During some of the summer months, we had to use money from our reserves to pay for all the expenses. Those months have red bars in the following bar chart.
Full 2024 Year Income Distribution
The full year’s total income divided into the same four categories that we used per month:
Full 2024 Year Expense Distribution
The full year’s total expenses divided into the same categories that we used for the expenses per month.
The full 2024 year net operating income was negative: -$42,280.91
We spent this much money more than we received as income. This has impacted our reserves and one of the many focus areas in 2025 and beyond will be to replenish those reserves.
There were extra costs in 2024 of which some were related to bringing our new Rector, the Rev. Grey Maggiano into our church community.
2024 Income vs. Budget
2024 Expenses vs. Budget
