Financial Report 2014 1
Financial Report 2014
Dear Church Family, Looking back on 2013, I am honored to report that through The Life Church, you have been more effective than ever in leading people to become fully devoted followers of Christ. You’ll be amazed at the huge impact your partnership with us has made in Houma and around the world. It is because of your giving that we have been able to bless so many people around the world. I feel the Lord leading us into deeper places. Deeper in our prayer life, deeper in community with each other, and deeper into the spirit of giving. Because of you, we are helping people live the life God intended. We expect God to do great things in 2014. It is my prayer that God will continue to use you through your financial contributions. Thank you for believing in the vision and mission of The Life Church. If you have any questions, please ask myself or our Finance Team at any time. Pastor Chad
Financial Report 2014
Weekend Experiences
Life Groups
Annual Business Meeting
Financial Report 2014
Discover Life
Dream Team
Annual Business Meeting
Financial Report 2014
Statement of Financial Position ASSETS: Cash and Cash Equivalents
$
Property
3,180,000
Vehicles and Equipment TOTAL ASSETS
53,782
54,125
$
3,287,907
$
22,516
LIABILITIES: Current Portion of Long-Term Debt Long-term debt, Net of Current Portion TOTAL LIABILITIES
1,525,219
$
1,547,735
$
246,657
NET ASSETS: Unrestricted Appraisal Value of Building and Land
1,493,515
TOTAL NET ASSETS
$
1,740,172
TOTAL LIABILITIES AND NET ASSETS
$
3,287,907
Annual Business Meeting
Financial Report 2014
Statement of Financial Position UNRESTRICTED REVENUES:
$
Program Revenues Tithes
544,726 217,348
General Offering
43,827
Building Fund
12,180
TOTAL UNRESTRICTED REVENUES
$
818,081
$
93,058
EXPENSES: Program Expenses General Supporting Expenses: Salaries and Wages!
336,335
Payroll Taxes and Benefits
87,488
Interest Expense!
89,554
!
Utilities!
34,141
Repairs and Maintenance
27,754
Insurance
24,773
Equipment
27,621
Annual Business Meeting
Financial Report 2014
Statement of Financial Position Supplies
$
16,712
Automobile
14,093
Advertising
13,503
Professional Services
9,047
Staff Development and Training
4,709
Fees and Permits
3,475
Security
1,185
TOTAL EXPENSES
$
Revenues In Excess Of Expenses
783,448
34,633
Increase In Appraisal Value Of Building And Land
126,165
Change In Net Assets
160,798
Net Assets, Beginning Of Year, As Previously Reported
1,616,308
Prior Period Adjustment
-36,934
Net Assets, Beginning Of Year, As Restated Net Assets, End Of Year
Annual Business Meeting
1,579,374
$
1,740,172
Financial Report 2014
Notes
Annual Business Meeting
Financial Report 2014
Notes
Annual Business Meeting
2324 Coteau Road Houma LA 70364 Phone: 985-772-2068 www.HoumaLife.com
Dear Church Family, Looking back on 2013, I am honored to report that through The Life Church, you have been more effective than ever in leading people to become fully devoted followers of Christ. You’ll be amazed at the huge impact your partnership with us has made in Houma and around the world. It is because of your giving that we have been able to bless so many people around the world. I feel the Lord leading us into deeper places. Deeper in our prayer life, deeper in community with each other, and deeper into the spirit of giving. Because of you, we are helping people live the life God intended. We expect God to do great things in 2014. It is my prayer that God will continue to use you through your financial contributions. Thank you for believing in the vision and mission of The Life Church. If you have any questions, please ask myself or our Finance Team at any time. Pastor Chad
Financial Report 2014
Weekend Experiences
Life Groups
Annual Business Meeting
Financial Report 2014
Discover Life
Dream Team
Annual Business Meeting
Financial Report 2014
Statement of Financial Position ASSETS: Cash and Cash Equivalents
$
Property
3,180,000
Vehicles and Equipment TOTAL ASSETS
53,782
54,125
$
3,287,907
$
22,516
LIABILITIES: Current Portion of Long-Term Debt Long-term debt, Net of Current Portion TOTAL LIABILITIES
1,525,219
$
1,547,735
$
246,657
NET ASSETS: Unrestricted Appraisal Value of Building and Land
1,493,515
TOTAL NET ASSETS
$
1,740,172
TOTAL LIABILITIES AND NET ASSETS
$
3,287,907
Annual Business Meeting
Financial Report 2014
Statement of Financial Position UNRESTRICTED REVENUES:
$
Program Revenues Tithes
544,726 217,348
General Offering
43,827
Building Fund
12,180
TOTAL UNRESTRICTED REVENUES
$
818,081
$
93,058
EXPENSES: Program Expenses General Supporting Expenses: Salaries and Wages!
336,335
Payroll Taxes and Benefits
87,488
Interest Expense!
89,554
!
Utilities!
34,141
Repairs and Maintenance
27,754
Insurance
24,773
Equipment
27,621
Annual Business Meeting
Financial Report 2014
Statement of Financial Position Supplies
$
16,712
Automobile
14,093
Advertising
13,503
Professional Services
9,047
Staff Development and Training
4,709
Fees and Permits
3,475
Security
1,185
TOTAL EXPENSES
$
Revenues In Excess Of Expenses
783,448
34,633
Increase In Appraisal Value Of Building And Land
126,165
Change In Net Assets
160,798
Net Assets, Beginning Of Year, As Previously Reported
1,616,308
Prior Period Adjustment
-36,934
Net Assets, Beginning Of Year, As Restated Net Assets, End Of Year
Annual Business Meeting
1,579,374
$
1,740,172
Financial Report 2014
Notes
Annual Business Meeting
Financial Report 2014
Notes
Annual Business Meeting
2324 Coteau Road Houma LA 70364 Phone: 985-772-2068 www.HoumaLife.com
