Our operating budget ended more negative than expected, but our deficit decreased substantially compared to earlier in the winter, due in part to additional revenue allocated by the Board. Our long-term finances remain healthy, and we have already received 56% of the contributions pledged to the Capital Campaign. All information below is as of the end of December.

Revenue and Expenses
Our operating income was $576,991, nearly equal to our budget of $579.886. However, this is partially due to a decision by the Board at our December meeting to reallocate $9,500 of the Core Endowment withdrawal that was initially planned for capital expenses. The successful Capital Campaign has meant that capital projects in 2025 were paid for by the Campaign, making the Endowment allocation better spent on reducing our net loss. Operating expenses were $580,905, 101% of our budget of $573,887. This overage was due to higher-than-expected insurance premiums and building maintenance, as well as some 2024 security wages that were paid this year. Overall, this led to a net loss of $3,914, about $8,000 lower than the net gain we had budgeted for of $5,979.

Assets and Liabilities
Total assets at the end of the year were $565,408, a $350,000 increase from the start of the year, due to receiving Capital Campaign contributions. The total assets do not include the money in our endowments and other investments. Total liabilities were $565,012, also increased due mainly to receipt of donations for the Capital Campaign. Overall, we ended the year with total equity of $395, a combination of our $4,310 in retained earnings from 2024, and 2025’s $3,914 net loss.

2026 Budget
In mid-December, the Board passed a preliminary 2026 budget that would eliminate the debt we had accumulated by that point in 2025, while providing small increases to our Religious Education programs, an increased marketing and membership budget, and a 2.9% cost-of-living increase to all staff and contractors. The Board also agreed to review and potentially update the budget at its January 2026 meeting, to review the end-of-year financial report, and take into account members who responded to Rev. Kate’s appeal to increase their pledges. Details of that budget update will be shared in the newsletter if any changes are made.