Financial Update

By Matthew Sobolik

2023 was a year of growth for Portland Covenant Church as we continue to come out of the pandemic. December was our highest giving month in two years! The giving was over $4,000 more than I had projected at the beginning of the quarter. This increase in giving led to a surplus in the fourth quarter of $3,500. Overall, giving in 2023 increased by 18% over 2022, which is great. If we are able to maintain that level of financial growth in 2024 we will easily meet our goal of having consistent monthly surpluses.

The Details:

Last year I set what I thought was a very optimistic goal for giving in 2023 of $150,660. We surpassed that goal with total yearly giving in 2023 at $153,114! We budgeted for a total of $221,000 in expenses and we came in significantly under that at $211,884. We projected a deficit of $31,000, while our actual deficit in 2023 was only $15,416. In short, we beat our budget goals in: giving, total expenses, and deficit!

We enter 2024 with a lot of momentum. As stated at the annual meeting, we hope to increase giving by $2,500/month - that sounds like a lot but last year we increased giving by $1,800/month or about 15%. Increasing this year by $2,500/month would be about 20% growth. We believe we can accomplish this goal.

Join The Movement!

As we begin 2024, please prayerfully consider how you might partner with Portland Covenant Church. Make an ongoing monthly donation and do even more to help us create a diverse community of love and justice in the city of Portland.

How to become a sustaining partner:

Go to portlandcov.org and click on “give” at the top.
Follow the directions, choose your amount, and click “set up automated giving”.
That’s it!

If you would like to give a one time gift or are interested in hearing more about the vision of our congregation, please speak with our Financial Officer, Matthew Sobolik (finance@portlandcov.org).

For all that we’ve already accomplished together in 2023, for all that we will accomplish together in 2024, thank God and thank you.

Sincerely,

The Leadership Team of Portland Covenant Church