[July 2020] Income Report
by Gail Nishinaka, Treasurer
Since the closing of all services and activities at Centenary since mid-March, it is evident how our income has been affected. The finances in the report are for the period from January through May 2020.
Pledges received is 72% of what was expected for this period. Unpledged giving on the second line includes memorial gifts. Income from memorial gifts are not budgeted. Our Easter offering was only 60% of the expected budgeted amount. Donations received through May for our cancelled Arigato Bazaar are well below our projected annual income after expenses of $24,500.
The total contributions of $75,690 is 57% of the total income recorded through May. Other income not reported is primarily income from monthly parking lot revenues [Perfect Parking] through March when the lot closed. We also obtained a one-time loan from the federal government under the Paycheck Protection Program.
We need to increase our levels of giving in order to meet our expected expenses for the remainder of the year. There are no other outside sources of income.
