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2023-24 FISCAL YEAR RECAP*

Date: July 25, 2024

Below is our 2023-24 fiscal year recap. To view our most recent financial update, click here.

Downtown Cornerstone,

Below you will find our fiscal year-end recap. We send out quarterly financial updates because finances are not only crucial to our worship of God, but vital to the health of our church and the spread of the gospel.

As we look back on the Lord’s faithfulness to us these past thirteen years, we are so thankful for his continued provision, and it’s our prayer that we would continue to be faithful stewards of all that he has entrusted to us again this next year.

2023-24 FISCAL YEAR RECAP*

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. All dollars given above and beyond our General Giving Fund are going towards our new building.

As you can see from the chart above, our giving for the year outpaced our expenses in every quarter. Because of this, we were able to set aside another $500,000 from our general giving towards our new building. This allowed us to further reduce the amount we need to borrow and to purchase additional equipment and furnishings for our new building. 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 2024-25 FISCAL YEAR BUDGET

Below, you will find a high-level overview of our 2024-25 fiscal year budget that the members adopted at our June 2nd Members’ meeting. If you are a new member, a detailed version of our budget is available in the member’s group in Church Center.

As with every budget year, we begin with anticipation of what God will achieve through our plan to invest his money for his kingdom. We have crafted this budget with the hope that God will transform these financial investments into lasting spiritual fruit, demonstrating His unending goodness and grace.

Our budget for this fiscal year breaks down as follows:

 

We are forecasting our expenses this next year to be roughly $3.0M or about 13% higher than they were this past year. This is primarily due to assuming the principal payments on our mortgage for our new building, along with increases in operating costs across the board.

 

OUR NEW BUILDING

As we eagerly await the completion of our new church home, we continue to experience delays in getting our switchgear energized, an incorrect elevator door replaced, and a handful of remaining items and inspections that need completed once we have permanent power. Unless something else changes materially, it’s currently looking like we won’t be able to occupy the building until the middle of September.

Although these ongoing delays are disappointing, we continue to trust in the Lord’s guiding hand, provision, and perfect timing through all of this.

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 $300,000 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!

For more information on our equipping and sending pipeline or to view more info on the churches/church planting networks we support, visit: downtowncornerstone.org/making-disciples/.

 

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:

Note: If you are a part of our church and are struggling financially in this season, please don’t hesitate to reach out by emailing care@downtowncornerstone.org.

 

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!

For the King,
Pastor David
Executive Pastor

**As church leaders, we take the financial management of all the 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.**