Introduction to Financial Data
In 2011 more than $73 million was generated and disbursed for mission and ministry under the stewardship of the General Assembly Mission Council.
Overall, receipts for 2011 were $2 million below budget; however, thanks to careful management, expenses were $3 million below budget. We ended the year with a favorable position for our Presbyterian Mission Program Fund (unrestricted reserves used for additional ministries and to manage cash flow and contingencies).
For the past decade unrestricted receipts have continued a downward trend. We experienced exceptions in 2006 and 2010 due to large bequests. Restricted receipts have also been in decline for this period, except for 2005 and 2010, which showed upturns because of large disaster assistance. In view of these trends, the GAMC has reduced or reconfigured staff and programs to closely match expenses with available revenue.
The charts and graphs on the pages that follow provide greater detail about the sources and uses of funds for each ministry area. This information is provided as part of our commitment to be accountable, transparent, and responsible stewards of the funds entrusted to us for the mission and ministry work of the whole church.
The Stewardship of Mission Funds
According to our audited 2011 financial statements, the GAMC’s operating expenses
by functional classification for 2011 are as follows:
Program expenses 94%
Management and general expenses 1%
Fundraising expenses 3%
Payments to affiliates1 2%