Pledges and gifts to the Our Path Forward campaign continued to come in after Celebration Sunday. But only a few now and it is time to report on how we did and how we will move forward.
First, the results:
The top line is that we came close. We reached 93% of our goal, as of today.
Given that we are in the middle of a pandemic, with our economy in recession or worse, just weeks before the national election, and given that we asked for gifts so much earlier that we’ve ever done before…
Given all of that, 93% is remarkable and a testament to the importance of First Unitarian in the lives of so many of us.
Gratitude should be in all of our hearts for the financial generosity and the generosity of spirit that these results make plain.
Analysis:
But 93% is not 100% and our budget is built to 100%. So, for those of you who have the time and the interest, I want to first share more detail and then more about what will happen now.
- The first thing to note is that after past Celebration Sundays the results have been much further from our goal. Last year, we reached only 82% of our goal by Celebration Sunday. The goal was higher last year, but we are still 8% ahead of last year in absolute dollars.
- Those of us from whom we have heard include a number of individuals and families who have had to significantly reduce or end their gifts for a time. We expected this, as you know.
- Far, far more members were able to increase their pledges (more than 40% of us) or make additional one-time gifts to “cover” for those of us who are struggling financially. This is the best news, by far, in our results to date.
- Last year, we eventually reached 92% of that higher goal…after nearly three months of individual follow-up with those who had not made their gifts by Celebration Sunday. What should we assume about additional commitments from our follow-up this year?
- The real challenge for the church and the planning we need to do is that there are still more than 250 individuals and families from whom we have not heard. How many of them are living through financial hardship? How many of them have lost connection with the church as First Unitarian has become on-line only? We simply do not know.
Our Path Forward
Our follow up with those we have not heard from is beginning immediately, tomorrow. Rev. Tom and I will be contacting every individual and family from whom we have not heard. We will be asking about financial support, but these calls and messages are also pastoral.
We especially want to know if families are struggling and how the church might support them. This year has been extremely challenging for families, and we are still working to find ways to reshape our ministry to them.
Budgeting and decision-making will proceed in stages:
- I am certain that our financial results will inch upward in the next week or two. I hope and pray that I am wrong, but I am preparing myself for the likelihood that we will fall short of our goal. The election is soon going to dominate our spirits and demand all of our attention. The window for fundraising is very narrow. And human resources need to be preserved for the ministry needs of what promises to be a very trying period.
- A 5% shortfall would translate to about $75,000. That would be a large amount of money to cover. Such a shortfall, however, would not require a massive adjustment in plans or staffing.
- By mid-November, we will make our best estimate of where annual giving will finally come in and pick a number for income to use for our planning.
- By the holidays, we hope, the Exec Team will complete a financial re-forecast of the current year which ends June 30, 2021. Remember that the budget we are living with was developed pre-Covid.
- We will then be in conversation with the Board’s Finance Committee and the full Board about steps that may need to be taken. We have already been tightly controlling spending.
- If further spending cuts are necessary, they will hinge on willingness to use additional non-recurring reserves, estimates of financial needs of the following year (when the one-time gifts of this year will not repeat), forecast of when we might return to the use of our campus (and receive more rental income)…a host of factors will be involved.
Those of you who have taken the time to read all of this have, probably, already made your gift and many of you are likely among those who stepped up and increased your giving. “Thank you” does not come close to expressing our gratitude.
This is far more information that we have normally provided. But this is no ordinary year. It felt important to share more of the hard-edged financial realities for those who want to know more.
It is also important to begin with gratitude not only for the financial gifts that support our ministry, but more importantly, for the many blessings First Unitarian offers to us, to our families and to our community.
Thank you,
Bill