Financial Update from Scott Denning, Treasurer

 

Spring is in the air (and snow is on the lilacs!), so it’s time for an update on the financial state of the church from your intrepid treasurer.  Below, I will review the current year’s finances, as well as the outcome of our annual Stewardship campaign and highlights of next year’s proposed budget.

IMPORTANT: we will hold a Budget Hearing on Sunday May 7 from 10:40 to 11:30 AM (between second and third services). Please come to this meeting, where we will present the details of the proposed budget. This is your best opportunity to get your questions answered before we vote on the proposed budget at the annual Congregational Meeting on June 4.

Current Year’s Finances:

We are 10 months into our current church year, and we’re doing very well. Pledge collections continue at a near-record pace. We’ve now collected 80% of our annual budgeted pledge (vs 70% this time last year). Spending is exactly what we’ve budgeted: 76% of this year’s budget, compared to 73% this time last year.  We project that we will end the church year on June 30 with a balance within 0.5% of our annual budget.

One of our budget priorities this year was to augment the church’s reserve account. Think of this as our “savings” account from which we draw when expenses exceed income in a particular month, and which we pay into when expenses are less. Our written policies specify that the reserve account should be 10% of our annual budget. The reserve account was pretty much wiped out in the Great Recession, and we’ve been slowly building it back up. The reserve account will be about $50k at the end of this church year on June 30.  Our target is $76k (based on next year’s proposed budget), so we’re getting there but have a ways to go.

Until we can grow our reserve account back to the 10% level, one of the most important ways you can help the church meet its monthly bills is to pay your pledge regularly. If you haven’t already done so, please consider setting up automatic monthly payments rather than paying in unpredictable lump sums. See Carolyn at the church office for details.

Stewardship Campaign:

Thanks to all of you, and especially to our wonderful Stewardship Team who made this year’s campaign very successful. We have pledges of over $660k for the church year that begins on July 1. This is up more than 7% over last year — a very healthy increase! For the first time ever, more than 400 households pledged this year, including 336 member households as well as 78 nonmember households. This represents a total of about 750 people! You can read more details here.

Next Year’s Proposed Budget:

Considering your generous pledge plus additional revenue from plate collections, contributions, fundraisers, and various other sources, we project total income of about $760k for July 1, 2017 through June 30, 2018. Therefore we will propose a budget in that amount. Almost 94% of next year’s budget is supported by pledges and donations!

Next year’s proposed budget includes small salary increases for most of our staff as we continue toward our goal of paying everybody at the midpoint of the guidelines of the denomination for our region.

We are very excited to include a request for a part-time Membership Coordinator (a new hire) in the proposed budget!  As our Three Services Experiment has made clear, we are attracting a lot of new members and friends. Most other large UU congregations have found that the expense of hiring a Membership Coordinator literally pays for itself in a few years through growth in pledging. As more people join our community, this new staff person will ensure that all are welcome and well integrated into the Foothills UU family.

Please bring your questions, comments, and concerns about next year’s proposed budget to the Budget Hearing on Sunday May 7 at 10:40 AM. See you there!

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It’s time to Answer the Call of Love – from Kay Williams

Foothills HeartFlame logo 2.1.17 ANSWERING THE CALL O LOVE (1).jpgIt’s time. Time to help support all of the important work that Foothills is doing to unleash courageous love in Northern Colorado and beyond. It’s time to affirm what Foothills means to you and your family personally.  And, it’s time to thoughtfully consider your financial commitment and the ways that love calls each of us, and all of us together to respond to the challenges and hopes of our world today.

It’s time to answer the call of love.

We ask all friends and members to keep an eye on your snail mailbox during the next few days – you’ll find information on the ways we’ve been growing, and the ways we are all needed to respond to the needs of today – to meet the rising fear and hatred with a bolder, more courageous love.

To dive in now, be sure to check out our website to see where we have been and where we are going as we discover what it will mean to Answer the Call of Love.

Thank you for your generous support of Foothills and for making all that we do together possible – Kay Williams, Stewardship Team Chair

P.S. If you’ve been preparing your taxes, and thinking you would like to save money on them next time, click here to learn how your pledge of financial commitment to Foothills can provide you with tax advantages for next year.

2 New Ways to Save Taxes & Pay your Pledge – from Cherry & Leonard Sokoloski

TWO WAYS TO SAVE TAXES WHEN PAYING YOUR PLEDGE OF
FINANCIAL COMMITMENT TO THE CHURCH

 If you’re planning how to pay your financial commitment to Foothills for 2017-18, here are two ways to fulfill your commitment and SAVE ON TAXES!

1.      Give appreciated securities (stocks or mutual funds). When you transfer securities DIRECTLY to the church, you avoid capital gains tax, and you are able to give the appreciated amount as a gift. If you sell the securities yourself and give the proceeds to the church, you lose this tax benefit.

2.      Donate part or all of your RMD. If you are older than 70 ½, and you have an IRA, you must take a “required minimum distribution” from your IRA each year. This is taxable income. However, under current tax law, you are allowed to use part or all of your RMD as a charitable gift. That portion will not be taxed.

Important info about a gift from your IRA: The IRS does not allow you to avoid taxes on your RMD and also deduct the gift as a charitable donation. Only one or the other. Therefore, this option is most useful for people who do NOT itemize on their tax return. Please contact Cherry Sokoloski (below) for more information, and also consult with your CPA or other tax advisor.

If you plan to pursue one of these options, please let Cherry or the church office know so we can explain the process.

Remember, to receive the tax benefit, you must transfer securities directly to the church, instead of selling them first yourself. The church will then sell the securities. In the case of a gift from your IRA, it can be cash or securities, but again, it must be transferred directly from the IRA to the church.

Your friendly coordinator for gifted securities,

Cherry Sokoloski:  970-484-5705 or LCSoko@Q.com

Church office: 970-493-5906

Thank you from the Stewardship Team

Our Annual Stewardship Pledge Drive is winding down, and we are pleased with the results. We hope you agree that it feels really good to give what you know is generous for you – so that you feel it a little bit!

Giving in Gratitude is a spiritual practice that we strive to live here at Foothills. We now have 380 pledging households for the 2016-17 church year. And we have 35 new pledgers this year – that’s great!

This year’s pledge drive is up about $40,000 over last year. Since we haven’t emphasized money so much in the past, the last several years we’ve tried to educate the congregation about how important it is for all of us to share our resources to help maintain and grow all of the wonderful programs and activities at Foothills. We’re attempting to make talking about money not so taboo anymore. 77% of our income comes from your pledges – that is our reality. We are the church.

Most congregants responded well to the Stewardship Team’s request to increase their pledge this year. As our Treasurer said at the May 1st Budget Hearing, our church really needs an increased pledge income every year, since our expenses also go up.

If you’ve ever wondered what kinds of pledges we receive, here’s a snapshot:

  1. 15 households pledge between $6,060 and $18,250
  2. 34 households pledge from $3,060 to $6,000
  3. 66 households pledge from $1,560 to $3,000
  4. The remaining pledges range from $20 to $1500 per year
  • 202 households increased their pledge this year. Thank you!
  • Our average pledge is $1,607. Our median is $960.

To make our church and its exciting and life-changing programs sustainable, we need to responsibly support them. Looking ahead, can you see your family increasing your pledging level? Look especially at the categories of giving above – can you get on a path towards moving into the next higher level? Just a few additional pledgers moving from level 4 to level 3, or level 3 to level 2, would make a huge difference in what we are able to do and offer as we seek to fulfill our mission.

We ask you to thoughtfully consider what it would take to increase your commitment to Foothills. Our staff and lay leaders – and all of us- have worked so hard to make this such a warm and vibrant community.  It is our congregation, and it is up to us to ensure its vibrant future.  Let us continue transforming – together.

Thank You – Kay Williams, Stewardship Chair

Our Annual Every Member Canvass is upon us!

stewardshipSunday we kicked off this exciting season.  It’s time to affirm how important Foothills is to you. We have experienced so much generosity, caring, and serving together over the past year, and no doubt next year will be just as transforming. Our theme for the 2016-2017 canvass is Together – We Are Transforming. We hope that Foothills is transforming you, as we transform the community and even the greater world.

Speaking of generosity, a very grateful thank you to church member Steve Sedam, who designed the beautiful brochure that you received in your mail recently (that’s right – I said mail, not email!). It highlights the many vibrant groups and activities that we love about Foothills.

In order to keep those programs going, we need your responsible financial commitment (which is what we call a pledge).

Other big goals on the horizon:

  • Bringing Ryan Marvel to full-time!
  • Meeting the UUA fair compensation guidelines for our staff who are the drivers and supporters of our congregation’s many great programs.
  • Funding the 12% increase in staff health insurance.
  • Performing some basic building maintenance that has been too-long postponed.

Please help us achieve these goals and more. Thoughtfully consider your pledge to your church, think about what Foothills means to your family, and give as generously as you are able. Together, we can make a big difference in the life of our church.

Let us continue to nurture the culture of abundance that has been built and grown here over the years. Be Transformed!

Thank You – Your Stewardship Team

submitted by Kay Williams, Chair