Balance Sheet
| As of 8/31/2022 | As of 8/31/2021 | ||||
| Assets | |||||
| Operating Cash | $ | 1,212,000 | $ | 2,300,000 | |
| Cash Reserves | 957,000 | 976,000 | |||
| Other Assets | 133,000 | 41,000 | |||
| ERC Receivable | 852,000 | - | |||
| Endowment and Trust Assets | 390,000 | 475,000 | |||
| Land, Buildings and Equipment (net) | 17,664,000 | 18,180,000 | |||
| Total Assets | $ | 21,208,000 | $ | 21,972,000 | |
| Liabilities | |||||
| Current Liabilities | $ | 626,000 | $ | 444,000 | |
| Mortgage Payable | 2,986,000 | 3,144,000 | |||
| Annuity and Trust Obligations | 31,000 | 40,000 | |||
| Total Liabilities | $ | 3,643,000 | $ | 3,628,000 | |
| Net Assets | |||||
| Without Donor Restrictions | $ | 16,283,000 | $ | 16,571,000 | |
| With Donor Restrictions | 1,282,000 | 1,773,000 | |||
| Total Net Assets | $ | 17,565,000 | $ | 18,344,000 | |
| Total Liabilities and Net Assets | $ | 21,208,000 | $ | 21,972,000 | |
Statements of Activities
| 12 Months Ended 8/31/2022 | 12 Months Ended 8/31/2021 | ||||
| Revenue | |||||
| General Fund Contributions | $ | 6,600,000 | $ | 6,329,000 | |
| Other Contributions and Grants | 1,185,000 | 2,226,000 | |||
| PPP/ERC Income | 1,234,000 | 1,180,000 | |||
| Program and Other Income | 309,000 | 256,000 | |||
| Total Revenue | $ | 9,328,000 | $ | 9,991,000 | |
| Expenses | |||||
| Salaries, Benefits, and Taxes | $ | 4,700,000 | $ | 4,166,000 | |
| International Staff & Agency Support | 1,329,000 | 1,199,000 | |||
| Ministry Expenses | 908,000 | 768,000 | |||
| Campus Operations | 1,678,000 | 1,425,000 | |||
| Depreciation | 899,000 | 921,000 | |||
| Administration | 475,000 | 425,000 | |||
| Interest | 118,000 | 125,000 | |||
| TOTAL EXPENSES | $ | 10,107,000 | $ | 9,029,000 | |
| Change in Net Assets | $ | (779,000) | $ | (962,000) | |
Other Contributions & Income
| Other Contributions | Program & Other Income | ||||
| Debt Reduction | $ | 45,000 | $ | - | |
| Administration & Finance | |||||
| Admin & Finance - Misc | 3,000 | (38,000) | |||
| Rental Income | - | 64,000 | |||
| CDLA Radio Ministries | 37,000 | - | |||
| Family Ministries | 61,000 | 77,000 | |||
| Preschool (Imago Dei) | - | 70,000 | |||
| Worship & the Arts | 116,000 | - | |||
| Adult Ministries | |||||
| Adult Classes | 64,000 | 37,000 | |||
| Adult Ministries - Misc | 50,000 | 84,000 | |||
| Outreach Ministries | |||||
| Adult Class Outreach | 295,000 | - | |||
| Outreach Ministries - Other | 321,000 | 15,000 | |||
| Benevolence | 193,000 | - | |||
| Total | $ | 1,185,000 | $ | 309,000 | |
Membership & Baptism
September 1, 2021 - August 31, 2022
| Total Membership at Start of Period | 4,266 |
| Additions | |
| LAC New Members | 30 |
| Comunidad de las Américas New Members | 2 |
| Total Additions | 32 |
| Deletions | |
| LAC Deceased | 35 |
| LAC Transfers | 42 |
| Total Deletions | 77 |
| Total Memberships at End Period | 4,221 |
Summer Congregational Meeting
August 28, 2022, at 11:00 AM
Download the Summer Meeting Packet
Congregational Meeting Leadership Election Update
Dear LAC Family,
On Sunday, the Summer Congregational Meeting was held to welcome new members and approve the ministry plan and budget for the 2022-2023 ministry year. If you missed the meeting, a recording can be watched at www.lakeave.org/leadership. An election was held to vote in new leaders to serve on the church’s Ministry Council and ministry divisions. 258 ballots were collected and 218 ballots affirmed the elected leadership slate as presented by the 2022 Nominating Committee. As new leaders prepare to start their term on October 1, we want to be praying for them. Nominating Committee member, Alan Tussy, shares the following prayer over the coming ministry year with the church family:
Heavenly Father,
We come to You in a spirit of praise and adoration for all you have done over the 125 year-history of Lake Avenue Church. Today, we lift up to You the leaders that will help to write the first chapter in the next edition of Lake’s history under the guidance of our new senior pastor Mathew P. John.
How grateful we are for the servant’s heart that you have given each of these people. Like the prophet Isaiah, when they were asked to serve in a position of church leadership, each and every one replied, “Here I am Lord, send me.”
We humbly ask, that in the next few weeks, You quickly bring these new leaders and those in the middle of their terms together in a spirit of unity. As the four divisions and Ministry Council move forward, please bring to their remembrance Bible stories and Biblical truths that will serve as the bedrock foundation for their decisions. May it be that each program, plan, and activity that they develop (in its own way) glorifies You and spreads the Gospel message.
And Father, we pray for protection. Protection against spiritual forces who will try to create obstacles for the growth of our church. Protection of our leader’s study and prayer time. And protection for their marriages and family relationships. May they not be distracted, discouraged or doubtful but instead excel using the spiritual gifts that you have given each one. Give them the tenacity to maintain the path You have already cleared for them and the “where with all” to be absorbed in the work You have laid before them.
Lord, we pray that You would send a spirit of encouragement to this entire leadership group so that they might walk in a manner worthy of the calling; Lead them to proceed with all humility, gentleness, patience, and Christian love.
And finally, Father, You have blessed these people with outstanding administrative and leadership skills. But our church also needs them to shepherd the flock. Please grant them the time, energy, and insight to do just that.
In the name of our Lord and Savior Jesus, we pray.
Amen.
Special Congregational Meeting
January 9, 2022, at 11:00 AM