Dear Wellspring Church,
Earlier this year in May, Wellspring celebrated its 25th anniversary under the banner of God’s Faithfulness. What a celebration it was! Now we continue that theme of God’s Faithfulness as we celebrate last year’s financial results and share our proposed budget for the coming year.
Wellspring, your faithfulness and your financial support of our church during a year of construction and disruption is nothing short of remarkable. Thank you! General giving exceeded budget by over one million dollars. Our net income has strengthened our balance sheet and allowed us to acquire two properties adjacent to the church for future growth and expansion.
Not only are we strong financially, but Wellspring also continues to invest in and grow important ministry programs. Our 3 Streams Institute continues to attract and develop young leaders as interns and apprentices. Alpha has just launched its third program introducing new people to Jesus. Our Youth Group continues to grow, and your dedication to serving our “Well Friends” during the renovation of the Well is inspiring.
Our proposed budget for FY 26/27 is designed to build on the momentum of this past year. We also look forward to completing construction and moving into this beautiful addition to our church. We have added important leadership in Human Resources and added depth in our Worship Ministry. Our ministry budgets are fully funded for another year of growth in our discipleship. And all of this is planned against the backdrop of a strong balance sheet and financial position.
Thank you, Wellspring, for your faithful and unwavering support of our church. We are excited to partner with you in this new fiscal year and live into Matthew 25 and Jesus’s final commission to “go and make disciples” (Matthew 28).
We heartily recommend your ratification of the proposed budget for FY 26/27!
Humbly submitted,
Chris Eastman Chair, Finance Committee
Steve Loomis Board Chair
Chris Binkley Chief Administrative Officer
God has been abundantly faithful this year, and so have you. General giving for FY 2025/26 totaled $4,103,748, which is $1,003,748 more than the $3,100,000 we budgeted. Extraordinary gifts (single gifts of $50,000 or more) made up $825,000 of that difference. The remaining $178,748 reflects steady growth across our church family: the number of people giving grew by 9%, and giving per donor grew by 3.5%. Thank you for your faithfulness and generosity in a year of construction and change.
| Projected Giving | Actual Giving |
|---|---|
| $3,100,000 | $4,103,748 |
View the full budget vs. actual and notes →
Total spending for the year was $3,554,478, which is $171,592 (5.07%) more than our $3,382,886 budget. More than half of that difference is our tithe to the Diocese. We tithe 10% of general giving, so when your giving came in above budget, our tithe grew with it, to $100,375 more than planned.
The rest came mainly from three areas. Administration was $98,195.66 over budget because of recruiting fees for a new leadership position, financial controller fees that moved from payroll to administration and paying for our 25th Anniversary Celebration. Property was $51,700.15 over because of repairs and maintenance on the two properties we purchased. Ministry expenses were $22,098 over, mostly for some Sunday/Worship consultants that assisted us while we had some open positions.
Savings elsewhere provided offsets. Payroll came in $80,286.51 under budget, mainly because of open positions and the move of controller fees to administration. No sabbatical expense was incurred against the $29,653 budgeted. Total spending also includes $235,971 of depreciation, which is a non-cash expense.
| Projected Spending | Actual Spending |
|---|---|
| $3,382,886 | $3,554,478 |
View the full budget vs. actual and notes →
Designated funds let you direct your giving to a specific ministry, and every gift is set aside for its named purpose. In FY 2025/26, our four donor-designated funds received $425,125.42 and spent $520,499.58. The $95,374.16 difference was paid from balances the funds carried into the year. Most of it came from the 3 Streams Institute Fund, which trains interns and apprentices and spent $132,955.30 more than it received. The Well Homeless Fund, Deacons Fund, and Stephen Ministries Fund each took in more than they spent. At year end, the four funds held $387,217.07. Separately, the Board added $15,000.00 to its Sabbatical Reserve, which ended the year at $46,546.51.
| Received | Spent | Year-End Balance |
|---|---|---|
| $425,125 | $520,500 | $387,217 |
View the designated funds detail →
The following budget will be voted on by Wellspring Members at our Members Meeting on 10/4/26.
Our proposed budget for September 2026 through August 2027 plans for $3,600,000 in general giving, plus $110,000 of other income such as interest, camps, and retreats. Our giving budget is $500,000 more than last year’s budget, and $503,748 less than what was given last year, because the budget does not count on extraordinary gifts to fund day-to-day ministry. Planned spending of $3,954,356 includes $258,553 of depreciation, a non-cash expense. This year, for the first time, the budget presented for ratification includes depreciation, giving a more complete picture of what it costs to maintain our buildings. Setting that aside, the budget shows a modest cash surplus of $14,197.
| FY 2026/27 Budget | Amount |
|---|---|
| Projected income (giving + other income) | $3,710,000 |
| Projected spending | $3,954,356 |
| Less depreciation (non-cash) | ($258,553) |
| Projected cash surplus | $14,197 |
View the detailed budget and notes →
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Detailed Financial Statements: FY 2025/26
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