Finance

 

2020 Finance Annual Report

Romans 5:3-5
… we also boast in our sufferings, knowing that suffering produces endurance, and endurance produces character, and character produces hope, and hope does not disappoint us, because God’s love has been poured into our hearts through the Holy Spirit that has been given to us.

Pittacus Lore, in one of his many books, “The Fate of Ten”, said:
“This is war, and people are going to die. Friends are going to die. I’ve come to accept the pain, to take the ugliness for granted. So it can be a little stunning when something good actually happens.”

COVID caused sufferings. Sufferings have always been with us. Thirty to Forty percent of Europe’s population died from the Bubonic plague in the 14th Century. Europe survived!

Good does come from evil. We like every company, organization and person received financial aid in 2020. $17,750 from the Payroll Protection Plan. $11,000 in Grants ($10,000 from Presbytery of Philadelphia plus $1,000 from Synod of the Trinity) was also received and $4,953 from a Pension Plan via forgiveness of three monthly payments. 

Budgeted Income was $25,000 less than expected while Budgeted Expenses were $6,000 less than expected. Mission Giving was at 8.3% ($18,907). Our goal is always 10%.

In 2020, we experienced one of the worst stock market crashes since the Great Recession of 2008. Many thought we would enter a period of stocks being down, but luckily the market rallied at the latter half of the year and we ended the year higher than we started. 

During 2020 we opened a portal on our website, oldbenpres.org, which allows members and visitors to make online donations to our church. We suggest you try it.  From an Alka-Seltzer commercial in the early ’70s: “Try it, you’ll like it”

Although we did not meet as regularly as we wanted to, I’d like to think Ed Harding, Jerry Wilkins, Carla Toth and Ken Wonderland for helping me throughout the year. Also, a big Thank You goes to Dave Amaro and Peter Fuhr, Sr. for their audit of the 2019 books finding them in good order.

Robert J. Gilmer
Treasurer & Finance Committee Chairperson