wfn.org | ELCA Treasurer Reports on Financial Outlook for 2009, 2008 Results

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Title: ELCA Treasurer Reports on Financial Outlook for 2009, 2008 Results
ELCA NEWS SERVICE

>March 16, 2009  

ELCA Treasurer Reports on Financial Outlook for 2009, 2008 Results
09-062-JB

ITASCA, Ill. (ELCA) -- As economic uncertainty continues,
responding "quickly and strategically" to changes in income will
be critical to the continued financial stability of the ELCA
churchwide organization and its capacity to sustain its mission
and ministries, wrote Christina Jackson-Skelton, ELCA treasurer,
in a March 7 written report to the ELCA Conference of Bishops.

"This will require close work and collaboration with
churchwide units, synods and other partners," she wrote.

The ELCA Conference of Bishops is an advisory body of the
church, consisting of bishops who lead the 65 synods of the ELCA,
plus the ELCA presiding bishop and ELCA secretary.  The
conference met here March 5-10.

For 2009 the treasurer said she is currently projecting the
ELCA churchwide organization will receive about $64 million in
mission support, based on reports from synods.  Mission support
funds are provided by congregations to synods, which share a
portion of those funds with the churchwide organization.  In 2008
mission support funds sent to the churchwide organization totaled
$65.3 million, down $1.3 million from what was forecast. All of
the decrease in mission support occurred in January 2009, the
last month of the church's fiscal year, Jackson-Skelton wrote.

The churchwide organization has already reduced its
operating budget by about $1.5 million for 2009, and another
adjustment will need to be made, she said, emphasizing that
income estimates have been changing rapidly.  Churchwide income
adjustments will be reported to the ELCA Church Council, which
meets March 27-29 in Chicago. The council determines the
churchwide organization's spending authorization.

For fiscal year 2008 the chuchwide organization had income
over expenses of $3.2 million in current operating funds, up
$600,000 from the previous year, Jackson-Skelton said.

"In the midst of a lot of economic turmoil in this economy,
we really do feel we have a lot to be grateful for as we look at
our financial results ... because they represent a good stability
for the churchwide organization for the fiscal year 2008," she
told the conference.

ELCA World Hunger Appeal contributions in 2008 were
$22 million, up $100,000 over 2007.  Direct gifts for World
Hunger declined significantly in the fourth quarter, but income
from bequests and trusts more than compensated for the decrease,
Jackson-Skelton said.  As a result of the reduction in direct
gifts for World Hunger, Jackson-Skelton said the Church Council
will be asked to reduce the 2009 World Hunger budget from
$20.6 million to $18.7 million.

The total budget for the ELCA churchwide organization is
about $105 million, including income for the current operating
budget, world hunger and other sources.

For information contact:

John Brooks, Director (773) 380-2958 or news@elca.org
http://www.elca.org/news
ELCA News Blog: http://www.elca.org/news/blog