FINANCIAL REPORT
EGC takes very seriously our responsibility to be excellent stewards of the resources the Lord provides. The Center is audited annually, and a snapshot of the results of this year’s audit is presented here. Copies of our full audit are available upon request. We have been members in good standing of the Evangelical Council for Financial Accountability since 1996 (www.ecfa.org).
We are grateful to the many individuals, couples, families, churches, foundations, and organizations that supported the Center in the past year. On behalf of the Board of Directors and staff, thank you for your partnership with us in ministry through your financial support and your prayers.
Skip Galanes
Treasurer, EGC Board of Directors |
Jeffrey Bass
Executive Director |
Statement of Financial Position
Year Ending June 30, 2008
| ASSETS |
|
| |
Cash and cash equivalents |
$164,951 |
| |
Pledge receivables |
$271,968 |
| |
Other |
$203,385 |
| |
Property and equipment, net |
$1,148,302 |
| |
TOTAL ASSETS: |
$1,788,606 |
| |
|
|
| LIABILITIES AND NET ASSETS |
|
| |
Liabilities |
$548,037 |
| |
Net Assets |
$1,240,569 |
| |
TOTAL LIABILITIES AND NET ASSETS: |
$1,788,606 |
| |
|
|
| |
Net Assets, beginning of year |
$1,489,487 |
| |
Change in Net Assets |
($248,918) |
| |
NET ASSETS, END OF YEAR: |
$1,240,569 |
RESOURCES
 |
| Individuals |
$346,006 |
| Churches & Organizations |
$531,415 |
| Grants |
$729,958 |
| Fundraising Events |
$108,499 |
| Other |
$186,640 |
TOTAL REVENUE: |
$1,902,518 |
EXPENDITURES
 |
| Program Services |
$1,529,126 |
| General & Administrative |
$445,864 |
| Fundraising |
$176,446 |
TOTAL EXPENDITURES: |
$2,151,436 |
Emmanuel Gospel Center is a member of the Evangelical Council for Financial Accountability
[top of page]
|
