Financial Charts | Click on Chart to Stop Scrolling
The financial charts below provide a month-end view of two key comparatives we use to monitor our financial health as we progress through the year. The pie chart provides a gauge of how giving to the General Fund compares to the giving goal. This giving goal is established each year based on the Approved Annual Budget which supports the planned program and operational activities of Williamson's Chapel. The bar chart provides a comparison between current year and prior year giving for the General Fund, Building Fund, and Missions Grant Fund. This historical comparison helps track progress and growth of the church year to year.
One of the primary goals of the Financial Ministry team at Williamson's Chapel is to provide transparency and access to our financial information. The most reliable snapshots of financial progress we can offer are comparisons to goals and prior year results. For those who want a more in-depth view, we also include periodic highlights of certain aspects of the financial structure of our church. If you would like additional financial information, please contact us as noted below.
The Capital Improvement & Replacement Fund was established over the last four years to support the improvement and replacement of old, broken, or out-dated existing capital assets in our buildings and on the grounds of our campus. The funding is based on a detailed analysis of well over 100 major assets around the Williamson's Chapel campus, ranging from the rooftops of our buildings to the flooring within and most everything in between. These are assets that we know will need to be replaced, when they most likely will need to be replaced, and what the cost of replacement is likely to be, based on the original purchase date and price and expert estimates. The analysis of assets has led the church to a target funding goal of $300,000, and this target will be regularly re-analyzed and updated to accommodate new capital assets purchased and future expected replacement costs. In fact, the Sanctuary roof was able to be repaired this year using these funds, without negatively impacting the overall operating budget. Our analysis shows that we need to budget $86,000 per year to maintain the target balance.
The Williamson’s Chapel Building Fund was established to accumulate capital campaign donations for new structures and to pay down existing debt on the Building Loan balance currently outstanding. In 2004, Williamson’s Chapel entered into a Building Loan of $4 Million to cover construction and related costs for the Sanctuary & Educational Building. Over the last 12 years, fulfillment of the original capital campaign pledges and steady donations to the Building Fund have enabled the church to pay the building loan down to $732k as of the end of October 2016, as noted in the graph below.