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2021-22 FISCAL YEAR RECAP*

Date: August 12th, 2022

Below is our 2021-22 fiscal year recap. To view our most recent financial update, click here.

As we closed out our previous fiscal year in June and entered a new one on July 1st, I’ve been reminded of the Apostle Paul’s words to the Church in Corinth. In it, he writes to encourage them, that their giving “…is not only supplying the needs of the saints but is also overflowing in many thanksgivings to God” (2 Cor. 9:12). By God’s grace, DCC, we too have much to praise and thank the Lord for!

*Our fiscal year runs from July to June

As you can see from the chart above, our giving for the year outpaced our expenses in every quarter. We also mentioned in December that every dollar given above and beyond our budgeted need would go towards our new building. By God’s grace, and because of your sacrificial giving, we were able to set aside another $450,000 from our general giving towards our new building, with another $1.8M given directly towards the Onward Campaign. Combined, that means that we were able to put another $2.3 Million dollars towards the renovation of our new home! What a tremendous gift of God’s grace!

Thank you to those who have been giving regularly, sacrificially, and generously! We are praising and thanking the Lord for his continued faithfulness to us this past year, and asking that he would continue to provide for our every need.

 

NEW 2022-23 FISCAL YEAR BUDGET

We are forecasting our expenses this next year to be roughly $2.5M or about 15% higher than they were this past year. This is primarily due to adding a staff member, cost of living, material, and energy increases, along with increased loan payments on our new building as we, Lord-willing, begin construction soon.

Our budget for this fiscal year breaks down as follows:

 

THE ONWARD CAMPAIGN

By the Lord’s grace and kindness, we were able to purchase a building at the corner of 1st and Broad, at the end of 2020. Since then, we’ve been in the process of acquiring necessary permits, lining up a general contractor, and raising additional capital to see our building renovated as our future home!

Our aim was to raise $3.5M towards these efforts, and by God’s grace we exceed our goal this summer! So, thank you to all who have given or pledged to our campaign!

*All dollars given above and beyond our Onward campaign goal will go towards reducing the dollars we need to borrow, and more ministry spaces that we can build out.

As you can imagine, buying and renovating a building in downtown Seattle is expensive. Since we launched this campaign, ongoing commodity and energy prices have escalated, inflation has ballooned, and labor shortages have persisted. All of this has continued to put pressure on the cost and scope of the renovations we’d like to do. We’re currently in the middle of contract negotiations, and our hope is that we’d be be able to wrap those up this month and begin construction by January. Please continue to pray that the Lord would go before us in these discussions.

If you are interested in learning more, or pledging towards the Onward campaign, click here.

 

MISSIONS & CHURCH PLANTING

Many of you know that as a church we want to put Jesus first in our giving so that we might see his glory spread and see more churches planted. In light of this, we set aside at least 10% of our general fund giving towards church-planting. Last fiscal year, we gave away and set aside over $250,000 towards those efforts. Let’s keep praying that Jesus would raise up more men and women that want to boldly live and proclaim the Gospel and that we’d get to see more churches planted in Seattle and around the world!

 

WORSHIPFUL GIVING

God tells us through the Apostle Paul in 2 Corinthians 9:7, that “each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.”

DCC, let’s remember that we don’t give to the budget, or out of guilt, or because God needs anything, but we give to him, out of our first fruits, as an act of worship, because he’s given us everything we have!

If you’re struggling to see giving as worship to Jesus, I would encourage you to grab a copy of the little pamphlet next to the connect desk on Sunday called, “Why should I give to my church?”

 

PARTNER WITH US

If you have yet to enter into the joy of giving and are wondering how to begin giving to our church, you can do so in the following ways:

Thank you DCC, for giving regularly, sacrificially, and cheerfully! As elders, we are deeply encouraged by the Lord’s ongoing faithfulness to us as a church. As we head into this next season, let’s keep praying and faithfully worshipping him with all that he has entrusted to us!

If you have any questions on this update or stewarding your finances, please don’t hesitate to reach out by emailing .

For the King,
Pastor David
Executive Pastor

**As church leaders, we take the financial management of all that God has entrusted to us seriously. This is why we have an external accounting firm that does our books, yearly financial reviews and audits done by an independent CPA firm, and a financial accountability team that helps ensure we’re being wise stewards of all that Jesus has given to us. If you have any questions, please don’t hesitate to let us know.**