Thank you for financially supporting our ministries, especially in this difficult time. The COVID-19 epidemic has impacted many organizations and St. Peter and St. Paul is certainly among them. Through God’s grace and your ongoing support, we are currently weathering the storm. But we will need that support to continue to finish the year in a good position and sustain our ministries. Through April, our pledge receipts are $32,949 below budget. However, our expenses are down as well because of reduced operations. The current bottom line is a $13,149 deficit through April. Deficits are not unusual during the year, and in recent years December income has changed deficits into surpluses. However, we would prefer to be ahead, especially with uncertainty in the current crisis.
To hedge against potential risks this year, and to help cover income for laid-off staff for the nursery and choir section leaders, we applied for and received a loan from the Payroll Protection Program through the federal government. Some of this loan will be forgivable, and we can use this to cover our laid off staff costs (which we would not have paid without the loan). This could also help us if revenue shortfalls continue, but only to a limited amount. Your support in continued pledge payments is essential to continue our ministries and sustain and retain our talented staff who have been creatively working from home in this crisis.
If you have any questions, please contact our Treasurer, Chuck Matheson. Thank you very much for your prayers, your contributions, and your personal engagement in support of our mission: Growing Disciples of Jesus Christ.