Church Update from Billy
Dear Wellspring Family,
I am grateful for the past 6 months at Wellspring. It has been exhilarating to see new and familiar faces sprawl across our lawn each Sunday. At the same time, I eagerly anticipate this fall when our people will occupy our renovated sanctuary. Finally, a space set apart for worship filled with a people that long for Jesus and his Kingdom! With both the past and the future in mind, I want to update our church body.
First, I want to express our gratitude for your generosity to the All Things New Capital Campaign. Since January 1, 2020, pledges plus donations for the purchase and renovation of Wellspring equal approximately $5.5 million. I am humbled when I think about your partnership in the gospel at Wellspring. I consider these dollars donated during a pandemic a true miracle. Thank you, family.
Second, I want to share where we stand today with our operating budget for our fiscal year which runs from September to August. (Note: the operating budget is separate and distinct from All Things New.) While year-to-date we are still roughly $6,000 in the black (net profit), our profit and loss from February to May was $106,000 in the red (net loss). At this point we are trending towards a $70,000 net loss for the fiscal year. This loss is not due to expense overruns, but instead a dip in general giving. Our operating cash reserves are adequate to endure this loss. However, considering the recent trend, we will present a reduced 2021/2022 operating budget at our upcoming Annual Meeting in September. Our staff will be taking a hard look at every expense, and we anticipate scaling back some of our programs. We will still aim to move the vision forward and be faithful stewards of God’s resources, even in the midst of this gap in our operating budget.
Third, please be in prayer. Even if we make these budget reductions in our ministry departments, we will continue our work in Englewood with dependence upon Christ and focused passion. Our Staff and Board remain convinced and excited about our five objectives for the coming 2021-2022 fiscal year:
Moving into our new sanctuary, and establishing our worship culture in this space.
Planting Christ the King Church, led by Jesse and Sarah Blaine.
Launching Cross Purpose, a new ministry partnership dedicated to poverty alleviation.
Continuing our 5-year vision of The Great Work
Building the culture of Wellspring in our new home by remembering and re-engaging our identity.
For 20 years, Jesus has moved through our community of faith. He can do immeasurably more than we can ask or imagine. Thank you for joining us on this journey.
With love and joy,
Billy+
