Financial Update
For where your treasure is, there your heart will be also.
- Matthew 6:21
God Provides Through A Unique Way
Payroll Protection Plan Update
As part of the governments recovery plan to stimulate and shore up the economy during the early days of the COVID-19 Pandemic, the Church Board approved us applying for the Payroll Protection Plan (PPP). Working with our Bank, the church was eligible to receive a $10,000 Grant and was approved for $98,000 in payroll protection, which was a loan with a forgiveness provision. We have weathered this pandemic, keeping our staff employed during this time. The church has followed all of the Federal Government’s provisions for the forgiveness of the PPP, and after submitting it to the Bank, they determined that we would need to repay $10,000 plus a small amount of interest accrued after approval, they determined that the remainder, $98,000, was forgiven. Because we spent the money from the PPP for payroll and mortgage payments, we were able to hold back the money budgeted for these things in a restricted account as they were paid. At the end we had set aside out of our budget the full amount of $108,000. Below we have charted this for you. The amount of interest was $81.45, leaving us with $97,918.55.
OroNaz Started with:
When we applied for PPP Forgiveness
With $97,918.55 funds available, the Finance Team discussed that we need to use some of the money to help others, not just for ourselves. The recommendation to the Church Leadership Team was to pay a 10% tithe off the money to help others, and then use the rest in a prioritized spending plan developed last year for extra funds above the budgeted amounts. More on the prioritized spending plan later.
The Church Leadership Team approved the Finance Teams recommendation. The tithe on the forgiven amount was decided to be split in two gifts: the first 5% ($4895.93) was allocated to World Missions (NMI) to give to those in need on the mission field, the second 5% was for the same amount, and was allocated to Local Missions in our area.
Our World Missions Council (NMI) split their money and gave it to two projects:
Prioritized Spending Plan Distribution of Remainder: $88,126.30
Last year as part of our budget process the Finance Team and CLT set up what we are calling the prioritized spending plan where extra funds above the budgeted amount would be distributed as follows: 75% ($66,095.03) was allocated to debt repayment on our construction loan, 10% ($8,812.67) has been set aside for our Maintenance Team to use on the many needs of our campus and buildings, 5% ($4,406.33) has been set aside for Local Compassionate Ministries future needs, 5% ($4,406.33) has been allocated to our NMI team for future needs, and the last 5% ($4,406.33) has been set aside for the CLT to aid our church ministries and their needs.
We have been truly blessed! We will continue to steward God’s finances to the best of our ability. Any questions feel free to email finance@oronaz.org
Joey McCoy, Treasurer and the Finance Team
The Church Leadership Team approved the Finance Teams recommendation. The tithe on the forgiven amount was decided to be split in two gifts: the first 5% ($4895.93) was allocated to World Missions (NMI) to give to those in need on the mission field, the second 5% was for the same amount, and was allocated to Local Missions in our area.
Our World Missions Council (NMI) split their money and gave it to two projects:
- $2,447.97: Project 1 – NCM COVID - 19 Response: “As the coronavirus (COVID-19) pandemic continues, Nazarene Compassionate Ministries is committed to acting in compassion as we respond together throughout the crisis, including the long-term needs that will go beyond immediate risks and dangers. Together, we can continue to be formed by Christ to respond in love, care, patience, devotion, and boldness.” More details at: https://www.ncm.org/covid19 [ncm.org] and https://issuu.com/ncm.magazine/docs/covid-19_digital
- $2,447.96: Project 2 – NCM The Shechem Children’s Home: “The Shechem Children’s Home is a short-term assessment center for children who are survivors of online sexual exploitation of children (OSEC). This is a form of human trafficking where images or videos of children performing sexual acts are sold over the internet. It is a growing problem globally and, in the Philippines, where Shechem is located.” More details at: https://www.ncm.org/shechem
- $1223.98: Gift 1 – Caring for Women Pregnancy Resource Center: Caring For Women is a nonprofit pregnancy resource center. We have helped teens and women in Butte County with free services for over 25 years. The Pregnancy Resource Center offers a friendly, caring and confidential atmosphere. More details: https://caringforwomen.life/index.htm
- $1223.98: Gift 2 –The Axiom Youth Center: The Axiom is a Youth Center in Downtown Oroville Focused on building platforms for success for students to realize and utilize their untapped potential. More details: http://www.theaxiom.org/
- $1223.98: Gift 3 –The Greater Oroville Homeless Coalition: The Greater Oroville Homeless Coalition is housed in the Hope Center to assist in-crisis individuals and families keep their homes. They work to end homelessness one individual or family at a time, whether you are in trouble of losing your housing or if you are trying to find housing. More details: https://www.facebook.com/OrovilleHomelessCoalition/
- $1223.98: Gift 4 –The Oroville Rescue Mission: The Oroville Rescue Mission is a religious non-profit organization which serves the homeless and disadvantaged in the Oroville area and its surrounding communities. It is affiliated with the Association of Gospel Rescue Missions. More details: https://www.orovillerescuemission.org
Prioritized Spending Plan Distribution of Remainder: $88,126.30
Last year as part of our budget process the Finance Team and CLT set up what we are calling the prioritized spending plan where extra funds above the budgeted amount would be distributed as follows: 75% ($66,095.03) was allocated to debt repayment on our construction loan, 10% ($8,812.67) has been set aside for our Maintenance Team to use on the many needs of our campus and buildings, 5% ($4,406.33) has been set aside for Local Compassionate Ministries future needs, 5% ($4,406.33) has been allocated to our NMI team for future needs, and the last 5% ($4,406.33) has been set aside for the CLT to aid our church ministries and their needs.
We have been truly blessed! We will continue to steward God’s finances to the best of our ability. Any questions feel free to email finance@oronaz.org
Joey McCoy, Treasurer and the Finance Team
OroNaz Church Financial Update: August 2020
FINANCIAL CONNECTION: We are keeping the church family updated on our financial blessings and challenges. Even during these challenging times, please pray and/or give as God leads. July Financial Summary: July is the 5th month of the annual budget year that runs March 2020 to February 2021.
As Paul writes, “Grace and peace to you from God our Father and the Lord Jesus Christ”. We are monitoring our church’s finances very closely during these trying times. We are making sure that our expenses stay lower than giving received by reducing spending where we can. Thank you for your continued financial commitment; it is a testament to what God is doing in us and through us.
Our Pastor, CLT, Treasurer (Joey McCoy) and Finance Team welcome your questions and feedback. Please email the Finance Team at finance@oronaz.org to start a conversation.
As Paul writes, “Grace and peace to you from God our Father and the Lord Jesus Christ”. We are monitoring our church’s finances very closely during these trying times. We are making sure that our expenses stay lower than giving received by reducing spending where we can. Thank you for your continued financial commitment; it is a testament to what God is doing in us and through us.
Our Pastor, CLT, Treasurer (Joey McCoy) and Finance Team welcome your questions and feedback. Please email the Finance Team at finance@oronaz.org to start a conversation.
Projected budget
March 2020-February 2021: $923,593
Needed for Month–August $76,966
Giving for August $63,010
Expenses paid in August $68,017
Needed Year to Date $384,830
Giving Year to Date $427,708
Expenses Paid Year to Date $41,477
March 2020-February 2021: $923,593
Needed for Month–August $76,966
Giving for August $63,010
Expenses paid in August $68,017
Needed Year to Date $384,830
Giving Year to Date $427,708
Expenses Paid Year to Date $41,477
Shares for Others Paid Year to Date
World Evangelism Fund $23,057
Pensions & Benefits $9,430
Education $9,430
District Ministries $16,765
World Evangelism Fund $23,057
Pensions & Benefits $9,430
Education $9,430
District Ministries $16,765
OroNaz Church Financial Update: June 2020
FINANCIAL CONNECTION: We are keeping the church family updated on our financial blessings and challenges. Even during these challenging times, please pray and/or give as God leads. June Financial Summary: June is the 4th month of the annual budget year that runs March 2020 to February 2021. As Paul writes, “Grace and peace to you from God our Father and the Lord Jesus Christ.” We are monitoring our church’s finances very closely during these trying times. In previous months the giving was greater than expenses, which compensates for the reduced giving in June. We are making sure that our expenses stay lower than giving received by reducing spending where we can. Thank you for your continued financial commitment; it is a testament to what God is doing in us and through us. Our Pastor, CLT, Treasurer (Joey McCoy) and Finance Team welcome your questions and feedback. Please email the Finance Team at finance@oronaz.org to start a conversation.
Projected budget
March 2020-February 2021: $923,593
Needed for Month–June $76,966
Giving for June $62,028
Expenses paid in June $71,372
Needed Year to Date $307,864
Giving Year to Date $294,440
Expenses Paid Year to Date $278,704
March 2020-February 2021: $923,593
Needed for Month–June $76,966
Giving for June $62,028
Expenses paid in June $71,372
Needed Year to Date $307,864
Giving Year to Date $294,440
Expenses Paid Year to Date $278,704
Shares for Others Paid Year to Date
World Evangelism Fund $16,295
Pensions & Benefits $ 6,666
Education $ 6,666
District Ministries $11,709
World Evangelism Fund $16,295
Pensions & Benefits $ 6,666
Education $ 6,666
District Ministries $11,709
OroNaz Church Financial Update: May 2020
Financial Connection: We are keeping the church family updated on our financial blessings and challenges. Even during these challenging times, please pray and/or give as God leads. May Financial Summary: May is the 3rd month of the annual budget year that runs March 2020 to February 2021. This month is a testimony to our congregation’s faithfulness. Despite all the challenges our world, community, and members are facing, your giving remains steadfast. Thank you for your continued financial commitment; it is a testament to what God is doing in us and through us. These challenging times continue to reveal the giving nature of our church’s congregation.
Our Pastor, CLT, Treasurer (Joey McCoy) and Finance Team welcome your questions and feedback. Please email the Finance Team at finance@oronaz.org to start a conversation.
Our Pastor, CLT, Treasurer (Joey McCoy) and Finance Team welcome your questions and feedback. Please email the Finance Team at finance@oronaz.org to start a conversation.
Projected budget
March 2020-February 2021: $923,593
Needed for Month –May $76,966
Giving for May $78,014
Expenses paid in May $65,575
Needed Year to Date $230,898
Giving Year to Date $232,911
Expenses Paid Year to Date $207,333
March 2020-February 2021: $923,593
Needed for Month –May $76,966
Giving for May $78,014
Expenses paid in May $65,575
Needed Year to Date $230,898
Giving Year to Date $232,911
Expenses Paid Year to Date $207,333
Shares for Others Paid Year to Date
World Evangelism Fund$12,708.62
Pensions & Benefits$5,196.94
Education$5,196.94
District Ministries$9,239.00
World Evangelism Fund$12,708.62
Pensions & Benefits$5,196.94
Education$5,196.94
District Ministries$9,239.00
