PRAYER REQUESTS
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Click the button above if you would like to meet with the Elders to pray for healing.
FINANCIAL UPDATE
July — Nov 2024
(Fiscal Year to Date or “as of 11/30/24”)
General Giving
Received: $494,832
Budgeted: $492,036
Difference: $2,796
General Expenditures
Actual: $470,333
Budgeted: $497403
Difference: -$27,070
HOPE MINISTRIES
Received: $76,101
Spending: $82,786
Balance: -$6,685
2024 ANNUAL MEETING & SURVEY RESULTS
In case you were unable to attend our Annual Meeting in July, you can watch the recording(s) below.
FREQUENTLY ASKED QUESTIONS
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What were the results of the survey?
The congregational survey, Ministry Match assessments, and in-person evaluations have been completed, and a comprehensive report has been provided to Cornerstone elders. We are very grateful for the participation of our Cornerstone family and for the report and guidance we have received so far.
The first comment from our consultant, Bob Gilliam, was that we are a VERY GOOD church and have so many things to be proud of. We knew that! But, of course, it is nice to hear it from someone who has consulted with hundreds of churches across the world. “Surely this church has many blessings to be thankful for,” was his exact comment, noting that we are a flagship church in our area, top 1% in size of Converge conference churches, and top 5% in all churches in the USA.
We also know that we have opportunities to improve and be more effective in ministry, outreach, and discipleship. We want Cornerstone to be better than “very good” — we want to be a GREAT church and continually improve as we individually and collectively become more like Jesus! The recommendations we received will help us continue to develop more detailed plans for spiritual growth and to focus attention on reaching more people in the area with the Good News of Jesus, especially to those in our target age demographic of 20s, 30s, and 40s.
You may be interested in results of specific questions asked on the congregational survey. Some of those we will be able to communicate simply with numbers, but the majority of the questions are meant to be evaluated collectively with a group of survey questions and along with the other information gathered by the consultant. For this reason, most of the information you hear from the elders or staff will be about decisions that have been made, or that we are considering making, based on factors that include the survey results.
Thank you for your interest in the survey results and please continue to pray that our church will see clearly where the Lord is leading us and that we will be obedient to His guidance!
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How are we doing financially?
Active reporting on finances to the Cornerstone congregation has not been done regularly in recent years, so we have been asked for more information on multiple occasions. We certainly understand this request and plan to provide updates more often throughout the coming year.
Below is our current budget statement for the fiscal year, which ended June 30th. We are currently finalizing the budget for the next fiscal year and will seek member approval at the annual meeting, which is scheduled for July 14, 2024.
General Budget (income) ending June 30, 2024: $1,182,646
Gifts received (actual income) ending June 30, 2024: $1,146,241
General Budget (expenses) through June 30, 2024: $1,119,547.39 (*not yet finalized)
Hope Ministries Giving ending June 30: $202,000
Now is the time balance: $450,536
We have also been asked specifically about what our ‘greatest needs’ are. This is a difficult question to answer. What we budget for each year is expected costs for ministry — the things we know about and can plan for. This primarily includes staff salaries, operational expenses, ministry costs, and support for missionaries. It’s essential to our core ministries that our general budget is met.
Separate from the general budget are special programs, such as Christmas and Easter projects, mission trips, and Hope Ministries. These do not impact the general budget because funds received have that specific designation.
Hope Ministries, for instance, accounts for a big portion of our church giving, and all of those funds coming in are given out for the service of those in need in our area. These programs are meeting great and important needs as well!
Additionally, we have to be able to pay for some unexpected expenses. An unexpected expense, such as a facilities repair, would currently come out of our savings account. If we do not have adequate savings, we would need to finance (take out a loan) for any large expenses.
We are working through several options to plan for future growth and to account for challenges with our aging building. We are so fortunate to have an excellent facility! But we do have to maintain it well and keep it looking and functioning great. Please pray about this and expect more information in the coming months on proposed approaches to meeting these needs.
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What are we doing with the Now is the Time funds?
The Now is the Time initiative began in September 2017 and was closed in 2020, although donations were accepted into 2023. The funds in NITT were primarily used to launch the Cokato site, and upon the formation of Living Stones (the Cokato site going autonomous), $400,000 was directed to their site.
Another purpose of the funds was to pay down the mortgage of the Litchfield buildings. Thanks to the generosity of a group of our members, our mortgage has been completely paid off! Since this was done outside of NITT, the fund balance remained very strong.
Of the original campaign goals, two primary objectives remain: (1) the development of another Cornerstone site, and (2) the development of leaders through residency, coaching cohorts, and rural church collaboratives. The amount estimated for those two initiatives was originally $250,000. The balance of our NITT funds is currently $442,000. We will be making decisions in the near future about how to best utilize these donations, whether to keep all of the money set aside in the NITT fund, or to ask NITT contributors if some of the money should be redirected to other initiatives. Any redirection of funds would need to be approved by each contributor.