News & Articles

NOVEMBER/DECEMBER 2020

We received almost $434,000 in November and December, making it the strongest last 2-months of giving in five years. Thank you for the strong close! For 2020, offerings of $1,871,000 almost matched 2019. From this, we supported our mission partners with 16% of offerings, or almost $300,000.

Our operational expenses for the year were much lower than normal due to Covid restrictions and closures. We spent $1,526,000, which was $67,000 less than last year.   After including $55,000 in designated giving for operations and $7,000 of other income, we ended the year with a $107,000 surplus. We were also granted forgiveness of our PPP loan, which added another $161,000 to our bottom line. With an accumulated surplus over $300,000, we are in great shape for 2021. 

Looking forward, we expect 2021 offerings to remain around $1,870,000, our new normal. Stay tuned as we finalize and publish our 2021 spending plan.

OCTOBER 2020
We received $121,000 in October, making our year-to-date offerings $1,437,000.  This is $49,000 lower than this time last year.  We also received over $2,000 in other income.

We allocated $19,000 to benevolence and our operational expenses were $112,000.  After ten months, our operating expenses totaled $1,268,000, which is $65,000 less than last year. An operational deficit of $8,000 in October reduced our year-to-date surplus to $51,000. 

Due to Covid-19, comparisons with 2019 have limited use. We cannot look at the reduction in offerings without considering the reduction in expenses. In combination, KOG is doing well and looking forward to strong giving in November and December. How we end 2020 will impact planning for 2021. Thank you for your continued generosity!

September 2020
We received $129,000 in September, which was a welcome surprise.  It is likely a small part of this increase was due to the resumption of in-person worship. Year-to-date offerings are $1,317,000, which is $6,000 lower than this time last year. 

We allocated almost $21,000 to benevolence and our operational expenses were $125,000.  After nine months, our operating expenses totaled $1,156,000, which is $50,000 less than last year. An operational deficit of $16,000 in September reduced our year-to-date surplus to $59,000. 

August 2020
We received $107,000 in offerings during August, resulting in year-to-date total of $1,188,000, which is $24,000 higher than this time last year.  

In addition to the normal 16 percent we allocate to benevolence (being $17,000 in August), Council approved an additional $19,000 for our ministry partners.  The $19,000 was based on 10 percent of the special gifts we received in December 2019 and June 2020.  Of this, we distributed $1,250 each to our four ministry partners involved with food distribution (Network of Community Ministries, North Dallas Shared Ministries, VNA Meals on Wheels, and the Storehouse of Collin County) and $2,000 to HEROES.  The remaining $12,000 will be distributed at the end of the year.

Operational expenses in August were $139,000 due to being a three-paycheck month.  After eight months, our operating expenses totaled $1,032,000, which is $9,000 less than last year. An operational deficit of $68,000 in August reduced our year-to-date surplus to $76,000.  

Monthly offerings of $155,000 are necessary to cover benevolence and operations.  At $110,000 (the average of the past 4 months), monthly deficits of $40,000 are projected, so your continued support is especially important. Thank you!

July 2020
Through July, our offering totals $1,081,000 which is among the highest January-to-July total ever. We started the year with $176,000 in prepaid pledges and received $126,000 in January and $125,000 in February. Despite Covid (perhaps because of it), dozens of members paid their pledges and annual contributions in full, resulting in offerings of $135,000 in March and $182,000 in April. Giving was reduced in May, June and July to only $102,000, $118,000 and $117,000, respectively. I do not know what the rest of the year will bring, but your giving has positioned us well.

We continue to allocate 16 percent of offerings to benevolence (now at $173,000). From this, we give $5,400 each month to In the City for Good and $12,000 to our NTNL Synod. We also distributed over $40,000 to our other ministry partners in June.

At the onset of Covid, KOG made the decision to keep all staff employed with full benefits. Assistance with this came through the Payroll Protection Program (PPP) of the CARES Act. We acquired a PPP loan on May 5, which provided for two months of staff salaries and benefits, as well as some utilities.

Operating expenses have been reduced, some intentional and some related to Covid. Through July, we have spent $892,000 on operations compared to the $1,003,000 we had planned. We have a year-to-date operational surplus of $144,000, which includes a special gift of $69,000 received in June.  Due to the faithful offerings, the June gift and the likely forgiveness of the PPP loan, our current financial position is especially good. With projected monthly deficits of $40,000 for the remainder of the year, we will use those reserves quickly. Your continued support will be all that much more important. Thank you again!

June 2020
From offerings of $118,000, we allocated $19,000 for benevolence.  We had other income of $1,000 and our operating expenses were $122,000, resulting in a deficit of $22,000.  A special gift of $69,000 was unexpected and changed our deficit to a $47,000 surplus.  This surplus will cover our extra expenses through July and into August. Thank you for your continued support.

MAY 2020
Through May, our offering totals $846,000 which is the highest January-to-May total ever.  We started the year with $176,000 in prepaid pledges and received $126,000 in January and $125,000 in February. In spite of Covid (perhaps because of it), dozens of members paid their pledges and annual contributions in full, resulting in offerings of $135,000 in March and $182,000 in April.  Giving was reduced in May to only $102,000. I do not know what the rest of the year will bring, but your giving has positioned us well.

We continue to allocate 16 percent of offerings to benevolence and will distribute around $40,000 to ministry partners in June. This is in addition to the $5,400 we give each month to In the City for Good and the $12,000 to our NTNL Synod.

Operating expenses have been reduced, some intentional and some related to Covid.  Through May, we have spent $658,000 on operations compared to the $730,000 we had planned. We have a year-to-date surplus of almost $110,000.  We will likely incur monthly deficits of $40,000 to $50,000 in June and July, so the $110,000 surplus should get us through the next two months. 

King of Glory continues to be active despite Covid closures.  Inside the church, we held virtual Lenten services and celebrated Palm Sunday, Easter and Pentecost.  After Lent, we continued to provide mid-week devotions.  We even held the Flanket Ceremony (made you cry, didn’t it?) and received new members.  Outside the church, we have highlighted ministry partners in emails, held a food drive, and have started the KOG Backpack Challenge 2020.  In the first phase, we are receiving donations to purchase school supplies for the students at Dobie Pre-Kindergarten.  This school, in the Richardson ISD, serves preschoolers with financial challenges and/or developmental disabilities.  It has little parent involvement and teachers historically provide school supplies from their own salaries. Go to 2020 Backpack Challenge for more information or to donate.