Dear Wellspring Family -
It is with great joy that we bring you this first financial report of 2025. In an effort to create a well informed church body, this will be our first of two reports that we will release between our Annual Celebrations that occur every September. The next will come in May, 2025.
Your support of both our General Fund, as well as our Advent Campaign that ended just a few weeks ago has been nothing short of astounding. Thank you for your incredible and faithful generosity. We are committed to using every dollar to effectively and efficiently advance the Kingdom of Jesus in Englewood and beyond.
This report will be broken up into three sections. First, we will report on all General Giving and Expenses between September (the beginning of our Fiscal year) and December 31st, 2024. Second, we will report on our Advent Campaign where we set out to raise $150,000 for the 3 Streams Institute. Third, we will talk briefly about our needs of you, our congregation, as we begin 2025.
It is a privilege to serve you Wellspring Family. If you have questions about anything you read here, please don’t hesitate to reach out to us.
Sincerely,
Tim Donohue Board Chair
Billy Waters Lead Pastor
Chris Binkley Executive Director of Administration
General giving in the first 4 months of our fiscal year has been quite strong. We attribute this to the faithfulness of God and his movement in and through the body of Wellspring Church.
| Projected Giving | Actual Giving |
|---|---|
| $3,100,000 | $4,103,748 |
As you can see in the graph, our expenses thus far in our fiscal year have been slightly more than we anticipated. This is primarily due to our tithe to our diocese being higher than planned (due to increased giving to Wellspring) as well as food costs for our Food Pantry supply recently increasing.
| Projected Spending | Actual Spending |
|---|---|
| $3,382,886 | $3,554,478 |
Church family, your response to our Advent Campaign was nothing short of ASTOUNDING. We set out to raise $150,000 in December which would set the 3 Streams Institute on solid footing for the next few years. Wellspring, you completely blew it out of the water by generously donating over $215,000 to the 3 Streams Institute in the month of December! These donations were on top of some generous seed donations from donors in November, as you can see in the graph below.
Some have asked, how will these resources be spent? As we enter into the 25/26 school year, we anticipate 2-4 of our current interns progressing into our Apprenticeship program, which costs approximately $18,000 per student per year. We also anticipate 8-12 new interns in the program, which costs approximately $8000 per student per year. These funds are passed directly to the students to help them pay for their education outside of our program, as well as their housing costs.
Finally, a program like this takes major staff support and operations support to keep running. What is left of the money that we have raised will cover these costs.
We are happy to report that due to your incredible generosity, the 3 Streams Institute is funded for the next two years, supporting students through the 26/27 school year. Praise God!
As we reflect on God's abundant provision through your incredible generosity, we are reminded of Paul's words in Philippians 4:6: "Pray about everything... thank Him for all he has done". All thanks and praise belongs squarely to Jesus, our Savior. His work in and through Wellspring for over 25 years continues to move hearts toward himself, and bring the Kingdom of God to Englewood in profound and tangible ways.
Your faithful giving so far this year has exceeded our expectations, from strong general fund contributions to the strong response to our Advent Campaign. We are humbled and grateful for how God continues to move through this church family.
