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As I said in this space a week ago, I’m so thankful for your commitment to RVCC in so many ways, but especially in the area of giving, because it enabled us to provide ministry through our staff, in our physical and digital locations, in Pierce County, and literally around the globe in 2020. Because of our dedication to financial transparency, I wanted to give you the final fiscal picture for last year.
Contributions - $1,548,900
Expenses - $1,655,000
Budget - $1,761,464
Early in the second quarter of the year, our leaders made the decision to participate in the Paycheck Protection Program (PPP), which provided emergency funding for businesses, organizations, and non-profits. As you can see with some simple math, that was a very wise and important decision! While the $170 thousand dollars that we received did not allow us to meet our budget, your faithful contributions paired with the PPP funds, provided us the ability to cover our expenses. With some cost-avoidance actions in addition, we were able to finish the year without having to consider any drastic cost-cutting measures to staff or ministry programming. For that I am truly thankful. All of the PPP funds went to payroll and related expenses.
As we enter 2021, we have drafted a $1.55M budget that is lean, real and has no margin. We are committed to living within our means as a church, as many of you are in your own lives. We also remain committed to continued transparency and communication in every area of decision-making, including finances. If you have any questions, don’t hesitate to ask!
Thankful,
Rusty
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