The
churchwide organization of the Evangelical Lutheran Church
in America had an excess of income over expense of $3.5
million in current operating funds for the fiscal year
ended January 31, 2006. In addition, in April 2005 the
Church Council approved a designation of $4.0 million to
further mission and ministry throughout the church. This
designation resulted in net expense over income of $0.5
million for the fiscal year.
Receipts
totaled $81.8 million for fiscal year 2005 compared with
$81.2 million the previous year, an increase of $0.6
million or 0.7 %. Expenses related to these funds
amounted to $78.3 million, an increase of $1.5 million or
2.0% from fiscal 2004. Revenue was favorable to the
budget approved by Church Council by $0.8 million or 1.0%.
Expenses were below the Church Council authorized level by
$2.6 million or 3.3%.
Income
from congregations through synods in the form of mission
support decreased slightly to $65.5 million, a decrease of
$0.2 million or 0.2%. Other funds, both temporarily
restricted and unrestricted, available for the budgeted
operations of the church, amounted to $16.3 million
compared with $15.6 million received in 2004. Major
sources of income in these categories included: Missionary
Sponsorship, $3.7 million; bequest and trust income, $4.1
million; endowment income $2.4 million; support from the
Mission Investment Fund, $1.5 million; Vision for Mission,
$1.0 million; fraternal grants, $1.0 million; and other
income of $2.7 million.
Total
contributions to the ELCA World Hunger
Appeal in 2005 reached $17.7 million, of which a
record $17.0 million was for the general World Hunger
Appeal as compared to $16.2 one year ago. This figure is
extremely gratifying due to the significant outpouring of
support for hurricane relief from ELCA members. Designated
world hunger income was $0.7 million, of which $0.4
million was given for the
“Stand with
Africa” campaign. Disaster response once again
dominated both the world and church news last year, with
ELCA members contributing a total of $36.8 million in 2005
compared to $10.5 million in 2004. An additional $0.9
million was received from external grants. Domestic
Disaster Response expects another $5.6 million in
federal grants for Hurricane Relief in 2006. Of the total
disaster income, $6.2 million was designated for 2004
South Asia Tsunami and $25.7
million was received for Hurricane
Relief.
The
overall financial results for fiscal 2005 were positive.
Total current income and expense were up over the prior
year and restricted increase reached record levels.
Mission support revenue declined very slightly
for the fourth consecutive year with five of nine
regions and one-half of synods sending in more in mission
support income in 2005 than in 2004. The range in
variances was again high, with increases as high as 30.8%
and decreases as low as 14.1%. Investment income
increased 556% or $0.8 million due to the great influx of
disaster income, the value of the investments, and
improved rates. Increases in bequest and trust income of
$0.9 million once again were able to off-set the flat
mission support and the continuing decline in missionary
sponsorship ($0.2 million lower than budget) and Vision
for Mission income ($0.2 million lower than budget), but
the rate of increase cannot be anticipated to continue.
