Quarterly Update to Carmel Baptist Church 

 

Quarterly Updates  

February 2017   

Reports from Committees & Teams  Pages 2-4 

Finance Committee slides Pages 5- 11 

Financial Report  Pages 12-15 

Family Ministry Report Pages 16-17 

   

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Quarterly Update to Carmel Baptist Church 

Audit Committee Tim Breedlove, Chair The CPA �rm of C. Dewitt Foard & Company, P.A. was engaged to perform an audit of the Financial statements of Carmel Baptist Church for the year ended July 31, 2016. A clean Audit Opinion was issued. The Audit Committee met with the engagement partner from C. Dewitt Foard & Company, P.A. and the Church Administrator to discuss the audit report.   

Deacon Selection Committee  Don Hoover, Chairman  The Deacon Selection Committee is in the process of identifying 12 deacon candidates to present to Carmel to serve starting August 1, 2017.  Deacon nominations were accepted from Carmel Baptist Church members from January 11 through February 15, 2017.  Interviews will take place in March and the slate of 12 will be presented to the church at the annual church meeting scheduled for May 2017.  

Finance Committee Rick Burger, Chair Tim Wishon, Sta᭶� Liaison Please see the slides on pages 5-11 and the �nancial report on pages 12-15.  

GO Team Jim Bailer, Vice Chair Neighbors highlights: We relaunched Carmel Serve this fall, as we asked Discipleship Communities to learn more about Carmel's ministry partners, and then commit to serving them throughout the year. In our October Carmel Serve, we had participation from 20 adult Discipleship Communities and all 6 grades of our student ministry.   

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Quarterly Update to Carmel Baptist Church 

In preparation for Carmel Serve, Carmel's pastoral team took a morning to pray around our city with ministry partners like Pregnancy Resource Center, Project 658 and Charlotte Rescue Mission. They learned about current issues and prayer with sta᭶� at each location.   In November we hosted our �rst Evening of Empowerment. We hosted almost 300 women from Carmel and 18 other churches. Guests heard testimonies of hurt, life change, and hope as they were each encouraged to take their next step to mentor or empower someone. At the end of the night guests had the opportunity to purchase items made by women who are overcoming poverty and human tra⿒�cking. Over $8,000 in items were purchased!   Carmel hosted a collection for our ministry partners in December and were able to deliver critical items like toiletry kits, comforters, Christmas gifts, devotionals, and food.   Following Pastor Alex's lead, Carmel members caroled with several ministry partners in the community, including an apartment complex near Project 658 and to the residents at Charlotte Rescue Mission.   Carmel hosted an informational luncheon in December with other church leaders to discuss Joy Prom collaboration for 2017. Multiple churches have expressed an interest in loving and serving our special needs population in Charlotte, through participation in Joy prom.   Nations highlights: 

● Planned 17 global short-term trips for 2017 ● Working with our church plant (Grace One) to engage in global missions in 2017 ● Commissioned and sent a Carmel family to serve as long-term missionaries in a 

least-reached part of the world ● Sent Christmas card to our missionaries 

 

Personnel Committee Allan Neal, Chair 

● Revised three policies in Carmel’s Employee Handbook pertaining to: Personal Appearance on the job, Smoking/Vaping on campus, and provisions for Jury Duty.  

● Revised job descriptions for the Young Adult Pastor and Missions Director positions. We are currently searching for these two positions.  

● Established a search team with members from the Personnel Committee and WEE School committee to search for the new Preschool Minister/WEE School Head of School. We are actively searching for this position as well.  

 

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Quarterly Update to Carmel Baptist Church 

WEE School Committee Alicia Kirsch, Chair  

● Search for the WEE School Director position is in process, under the direction of Vanderbloemen Search Group, and is going very well 

● Registration for the 2017-18 school year has been completed  ● Parent/Teacher Conferences were conducted in January ● Faculty Assessments/Evaluations were completed and being reviewed ● Teacher intentions are due at the end of the month (February) ● Upcoming events 

○ WEE School Teacher Appreciation Luncheon  ○ Dad's Night 

   

4 

Fiscal Second Quarter Financial Report

(November 2016 through January 2017)

February 20, 2017

Carmel Baptist Church

5

Summary (including Schools) • Carmel finished the second quarter with a surplus of $2,363,096.93

(including Schools)– Versus a budgeted surplus of $1,847,451.66

• Income: $127,672.43 over budget– Due to higher than planned CCS tuition and enrollment fees

• Expenses: $643,317.70 under budget– Primarily due to lower than planned Administration, Global

Outreach, Personnel, and CCS expense

6

Carmel Baptist Church • CBC (excluding Schools) finished the first quarter with a surplus of

$188,444.71– Versus a budgeted surplus of $38,411.58

• Tithes and Offerings: $3,864,457.32– ($270,212.68) under budget

• Total Revenue: $4,360,072.10– ($326,110.81) under budget

• Total Expenses: $4,171,627.39– $476,143.94 under budget

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The Schools • CCS was $162,348.15 over their projected revenues and $132,448.78

under their budgeted expenses

– Second quarter ended with a $2,132,420.53 surplus versus a plannedsurplus of $1,837,623.60.

• Carmel Wee School was $5,091.40 over their projected revenues and$28,226.47 under their budgeted expenses

– Second quarter ended with a deficit of ($32,264.05) versus a planneddeficit of ($65,581.92).

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Grace One Ministry • The Grace One Ministry was $30,582.15 over their budgeted revenues and

$6,498.51 under their budgeted expenses

– Second quarter surplus of $74,495.74 versus budgeted surplus of$36,998.40

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Church Loan • On May 5, 2016 we closed on the new loans to cover the cost of the

Student Discipleship Center and Gym as well as a line of credit to coverthe balances we had applied for cash management purposes againstthe old loan.

• We have begun to take draws against the loan to pay constructioncost. The loan balance at the end of January was $2,031,329.38.

10

Cultivate Campaign We received pledges toward the Cultivate Campaign from both Carmel Baptist Church families and also from non-Carmel Baptist families who are part of our Carmel Christian School ministry. Below is an update of pledged amounts and amounts received to date:

CBC CCS Total

Total Pledges 4,953,769$ 3,700,146$ 8,653,915$

Total Pledge Giving to date 1,886,576$ 1,813,533$ 3,700,109$

Total Non-Pledge Giving to date 364,400$ 364,400$

Total Giving to date 2,250,976$ 1,813,533$ 4,064,509$

Total Families w/ Pledge 623 349 972

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Carmel Baptist ChurchAnalysis of Revenues and Expenses 1/31/2017

MTD MTD YTD YTD Annual Actual Budget Actual Budget Budget

INCOME

Wee School 209,956.56 192,000.00 957,737.40 952,646.00 1,874,646.00CCS 648,209.32 612,812.00 6,957,319.15 6,794,971.00 9,584,798.00Grace One Church 49,524.60 60,200.00 302,582.15 271,583.32 477,050.00CBC 629,161.45 690,268.13 4,360,072.10 4,686,182.91 9,082,640.00

Total Income 1,536,851.93 1,555,280.13 12,577,710.80 12,705,383.23 21,019,134.00

EXPENSES

Wee School 162,100.36 183,306.82 990,001.45 1,018,227.92 1,874,646.00CCS 856,027.74 789,254.90 4,824,898.62 4,957,347.40 9,583,256.00Grace One Church 46,835.76 40,641.10 228,086.41 234,584.92 476,908.00CBC 653,864.47 745,983.38 4,171,627.39 4,647,771.33 9,082,640.00

Total Expenses 1,718,828.33 1,759,186.20 10,214,613.87 10,857,931.57 21,017,450.00

NET SURPLUS

Wee School 47,856.20 8,693.18 (32,264.05) (65,581.92)CCS (207,818.42) (176,442.90) 2,132,420.53 1,837,623.60Chinese Ministry 2,688.84 19,558.90 74,495.74 36,998.40CBC (24,703.02) (55,715.25) 188,444.71 38,411.58

Total Net (181,976.40) (203,906.07) 2,363,096.93 1,847,451.66

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Carmel Baptist ChurchSummarized Analysis of Revenue and Expenses

(6/12) 6 Months All Funds and Depts

Report Date 1/31/2017

ACCOUNT YEAR TO DATE BUDGET ANNUAL OVER/UNDER(THIS YEAR) TO DATE BUDGET BUDGET-YEAR

INCOME

Tithes and Offerings 3,864,457.32 4,134,670.00 8,000,000.00 (270,212.68) UNDERChinese Ministry T&O 249,002.17 213,083.34 383,550.00 35,918.83 OVERCBC Support for Grace One 34,999.98 34,999.98 70,000.00 - N/AGlobal Outreach Offering 133,388.38 165,000.00 330,000.00 (31,611.62) UNDERFood Service Receipts 232,955.56 241,512.89 462,640.00 (8,557.33) UNDERCounseling Receipts 128,989.51 145,000.02 290,000.00 (16,010.51) UNDERWee School Tuition and Fees 957,737.40 952,646.00 1,874,646.00 5,091.40 OVERCCS Tuition and Fees 6,957,319.15 6,794,971.00 9,584,798.00 162,348.15 OVERFitness Center Receipts -81.67 0.00 0.00 (81.67) UNDERC.B.C. Miscellaneous Income 363.00 0.00 0.00 363.00 OVERChinese Academy Tuition 18,580.00 23,500.00 23,500.00 (4,920.00) UNDER

TOTAL INCOME 12,577,710.80 12,705,383.23 21,019,134.00 (127,672.43) OVER

EXPENSES

Pastoral Care 122,380.13 154,622.40 309,245.00 32,242.27 UNDERAdministrating Ministry 1,814,493.04 1,942,474.70 3,700,166.00 127,981.66 UNDERSenior-Executive Pastor 4,507.12 4,762.50 9,525.00 255.38 UNDERCommunications 17,010.86 34,939.98 69,880.00 17,929.12 UNDERMissional Outreach 446,799.27 562,637.41 1,130,000.00 115,838.14 UNDERGrace One Church 228,086.41 234,584.92 476,908.00 6,498.51 UNDERWorship Ministry 45,814.78 43,750.00 73,200.00 (2,064.78) OVEREducation-Wee School Ministry 990,001.45 1,018,227.92 1,874,646.00 28,226.47 UNDEREducation-CCS Ministry 4,824,898.62 4,957,347.40 9,583,256.00 132,448.78 UNDERGenerations Ministries 145,724.08 218,232.38 455,885.00 72,508.30 UNDERMinisterial Salaries/Allowances 554,584.72 552,458.34 1,104,917.13 (2,126.38) OVERSupport Personnel 726,094.22 787,341.00 1,539,488.91 61,246.78 UNDERPersonnel Admin. Cost/Taxes 294,219.17 346,552.62 690,332.96 52,333.45 UNDER

TOTAL EXPENSES 10,214,613.87 10,857,931.57 21,017,450.00 643,317.70 UNDER

NET TOTALS 2,363,096.93 1,847,451.66

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Page : 1Date : 02/15/2017

Time : 2:29:41 PM

Carmel Baptist ChurchBalance SheetJanuary 2017

Accounts

Assets

Current Assets

General Funds$3,286,214.75101005 - General Operating Fund/NCBT

$50.00120001 - Petty Cash - Operating

$70,521.69130003 - Meck. County Sales Tax

$773.08130004 - Other NC County Sales Tax

$2,426.66130005 - NC Food Sales Tax

$12,336.14130006 - Use Tax

$123,312.96130007 - Sales Tax- Construction

$3,495,635.28 Total General Funds

Designated Funds$148,327.26110090 - Carmel Ed. Foundation B/A Checking

$1,220.02110091 - CBC Endowment Fund

$136,696.10110092 - Lois Bumpus Endowment Fund

$3,800.00110097 - CCS Prepaid Expense

$515,668.26110099 - CEF NCBT Money Market

$72,913.47111101 - CCS Accounts Receivable

$3,047.71111102 - Ed Assistance Receivables

$2.59130002 - Building Fund NC Sales Tax

$881,675.41 Total Designated Funds

$4,377,310.69 Total Current Assets

Fixed Assets

Fixed Assets (110)$1,150,000.00122001 - Land - Highway #51

$20,726,199.73123001 - Education Building

$512,590.92124001 - Parking Lot Expansion

$3,054,589.00125001 - Recreational Outreach Ctr

$1,266,426.00126001 - Improvements-Highway #51

$13,000,441.57129001 - Sanctuary/Flwship.Hall-51

$39,710,247.22 Total Fixed Assets (110)

$39,710,247.22 Total Fixed Assets

$44,087,557.91 Total Assets

Liabilities, Fund Principal, & Restricted Funds

Liabilities

Current Liabilities$25,850.00230006 - CCS Prepaid Registration Fees

Credit Accounts$15,224.20230016 - Unearned Credit Card Income

$29,369.77230019 - SCBT Credit Cards

$44,593.97 Total Credit Accounts

$70,443.97 Total Current Liabilities

Notes Payable$4,073,213.43220009 - SCBT Line of Credit

($4,073,213.43)220010 - Cash Management Pymts on SCBT Loan

$2,031,329.38220011 - SCBT 15 Year Note Payable

$2,031,329.38 Total Notes Payable

Payroll Liabilities$58.40223001 - FICA W/H - Employer

$15.32224001 - FICA W/H - Employee

$222.40225001 - Federal W/H

$5.00226001 - State W/H

($2,749.68)227001 - Flexible S.A. Payroll Deduction

$198.62227002 - AFLAC Reserve(Ins.Prem.)

($2,145.42)227003 - Dep.Life Ins.Coverage

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Time : 2:29:41 PM

Carmel Baptist ChurchBalance SheetJanuary 2017

Accounts

$12,016.36227004 - Health Ins. Deduction

$2,704.54229001 - Misc.Payroll Receivable

$911.38230001 - Annuity Deduction

$11,236.92 Total Payroll Liabilities

$2,113,010.27 Total Liabilities

Fund Principal$32,920,070.97299910 - Fund Balance(Net Worth)

$2,363,096.93Excess Cash Received

$35,283,167.90 Total Fund Principal and Excess Cash Received

Restricted Funds$6,691,379.74Total Temporary Restricted

$6,691,379.74 Total Restricted Funds

$44,087,557.91Total Liabilities, Fund Principal, & Restricted Funds

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4th Qtr '15 1st Qtr '16 2nd Qtr '16 3rd Qtr '16 4th Qtr '16Oct-Dec Jan-Mar Apr-Jun Jul-Sept Jul-Sept

TOTAL MEMBERS RECEIVED THIS QUARTER BY: 47 86 85 31 29Profession of Faith and Baptism 30 37 28 6 7Baptism 5 8 5 4 2Statement 9 22 31 21 20Letter 3 19 21 0 0ADJUSTMENT IN RECORDS

LETTERS GRANTED, ERASURES, AND DEATHS: 12 23 49 20 6Letters Granted - Resident Members 3 7 7 6 2Letters Granted - Non-Resident Members 4 3 10 0 2Erasure from Rolls - Resident Members 4 7 28 7 0Erasure from Rolls - Non-Resident Members 0 1 0 2 0Exclusion by Action 0 0 0 0 0Deaths 1 5 4 5 2

MEMBER TOTAL: 5185 5248 5284 5295 5318Resident Members 4725 4775 4860 4870 4879Non-Resident Members 460 473 424 427 439

NON-MEMBER TOTAL: 7612 7911 7984 7622 7435Discipleship Community Member 2019 2121 1999 1990 1772Pending Members 163 161 172 181 163Worship Attenders 443 527 574 423 407Contributors 775 792 825 750 802Participants 990 966 983 971 886Prospects 2290 2412 2499 2375 2455CCS 432 432 432 432 450Wee School 500 500 500 500 500

MINISTRY TOTAL 12797 13159 13268 12917 12753

QUARTERLY FAMILY MINISTRY REPORT: 4th Quarter, October - December 2016 CARMEL BAPTIST CHURCH

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TransfersDate Res Non

10/3/2016 Matthew & Abby Carpenter Lake Murray Baptist, Lexington, SC 212/5/2016 Billy & Lura Baker First Baptist Church, Matthews, NC 2

Total 2 2Total: 4

ErasuresDate Res Non

Total 0 0Total: 0

Deaths Date

10/19/2016 Deborah Aguiar-Velez11/6/2016 Clara Talley

Total: 2New Members

Allison, Joel Peters, Leyton Batchelor, Makenly Pisarski, Michael Batchelor, Makenna Pisarski, Tatiana Black, Chris Sholley, Jayden Black (Brock), Leigh Smith, Alesha Casallas, Carlos Spruill, Scott Dunn, Katelyn Spruill, Stefanie

Gantt, Jaime Strauss Contreras, Cara Gantt, Katelyn Upchurch, Brad Goulet, Linda Upchurch, Rebekah Hobson, James Walker, Elaine Hughes, Anna Warren, Taylor Hughes, John McCarthy, Betty

McCarthy, John Michaud, Delanie Michaud, Joe

Total Added: 29

Exclusion by Action - NONE

Total Removed: 6

Carmel Baptist Church4th Quarter: October - December 2016

ChurchName

ChurchName

Name

17