June 16, 2020
Dear Lake B Family and Friends,
Last week’s letter from our Personnel committee gave you an update on the work of our LBPC staff in this season of ministry.
We also wanted to share with you a bit of a financial report as well:
The numbers below will tell you, in brief, where we finished financially at the end of May.
Month Year to date
Income $50,675 $226,755
Expenses $46,727 $235,245
Net $3,948 ($8,490)
As you can see, we are operating in a deficit over the course of the first 5 months. ($8,490). We are grateful that we were approved for the Small Business Payroll Protection Plan Loan as it greatly helped us through the month of May. We are also pursuing several grants to help us meet the shortfall created by the gap we are experiencing in projected revenue from renting our building. As best as possible, we are trying to anticipate any other shortfall we could be experiencing as we head into the second half of the year.
At the beginning of July, you each will be receiving from me a 6-month financial update and your contribution statement. If you are experiencing or anticipate a change in your pledge for the year, please reach out and let me know. This will greatly help our planning. We understand that there are many unforeseen things that have happened since the year started. You can email me at firstname.lastname@example.org.
We remain grateful for all the ways we see God at work in our community. Thank you for your prayers, for your giving and for your partnership.
Be Safe and Be Healthy!