The churchwide organization of
the Evangelical Lutheran Church in America had an excess
of income over expense of $4.5 million in current
operating funds for the fiscal year ended January 31,
2005.
Receipts totaled $81.3 million
for fiscal year 2004 compared with $80.8 million the
previous year, an increase of $0.5 million or 0.6%.
Expenses related to these funds amounted to $76.8 million,
a reduction of $3.5 million or 4.4% from fiscal 2003.
Revenue was favorable to the budget approved by Church
Council by $0.9 million or 1.1%. Expenses were the primary
reason that income exceeded expenses, operating below the
Church Council authorized level by $3.6 million or 4.5%.
Income
from congregations through synods in the form of mission
support decreased to $65.6
million compared to $66.5 million the previous year, a
decrease of $0.8 million or 1.2%. Other funds, both
temporarily restricted and unrestricted, available for the
budgeted operations of the church, amounted to $15.6
million compared with $14.3 million received in 2003.
Major sources of income in these categories included:
Missionary Sponsorship, $3.8 million; bequest and trust
income, $3.2 million; endowment income $2.4 million;
support from the Mission Investment Fund,
$1.7 million; Vision for
Mission, $1.3 million; fraternal grants, $1.0 million; and
other income of $2.2 million.
Total
contributions to the ELCA World
Hunger Appeal in 2004 reached $17.3 million, of which
$16.2 million was for the general World Hunger Appeal as
compared to $16.5 one year ago. Designated world hunger
income was $1.2 million, with the majority, $0.9 million,
given for
“Stand with Africa.” Disaster Response dominated both
the world and church news during the last month of the
year, with ELCA members contributing a total of $10.5
million in 2004 compared to $3.5 million in 2003. Of
this, $5.0 million was designated for
South Asia Tsunami
and $2.1 million was received for
Hurricane Relief.
The
overall financial results for fiscal 2004 were mixed.
Mission support revenue declined for the third consecutive
year. Eight of nine regions and 57% of synods sent less
in mission support income in 2004 than in 2003. The range
in variances was also higher than normal, with increases
as high as $276,746 or 25.9% and decreases as low as
$700,676 or 51.9%. Investment income also declined 55.7%
or $0.25 million due to declines in account balances and
the value of the investments. Increases in bequest and
trust income of $0.8 million and an increase in support
from the Mission Investment Fund of $0.5 million were able
to off-set the decrease in mission support, but their rate
of increase cannot be anticipated to continue.
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