Statements of activities
For the Nine Months Ending September 30, 2014 and 2013
- Unrestricted contributions increased approximately 30%, or $14,300,000 from 2013 to 2014. $5,700,000 of that increase is from new campuses opened since last July, and the remainder is due primarily to an increase in the average amount per gift at existing campuses. Net assets released from restrictions, which consists of giving designated for YouVersion, Spaces and Places, Digital Missions, and Relief and Restoration, decreased by approximately 7% from 2013 to 2014. This decrease is primarily attributable to approximately $1,100,000 received in 2013 designated to assist survivors of the May 2013 Oklahoma tornadoes.
- Total expenses increased approximately 20% from 2013 to 2014, attributed to an approximate 16% increase in physical campus attendance, the launch and operating expenses of two new campuses opened in late 2013, and the launch and operating expenses for two new campuses opened in 2014. Excluding the expenses generated by the new campuses, total expenses increased approximately 13%.
- Approximately 14% of total revenue is “sent out,” or invested in opportunities outside our existing physical campuses, through our Relief and Restoration, Spaces & Places, YouVersion and Digital Missions ministries.
Statements of financial position (balance sheets)
As of September 30 and January 1, 2014
- Total assets increased approximately $15,400,000 from January 1, attributable to positive cash flows provided by operating activities.
- Property and equipment increased approximately $15,200,000 (before change in accumulated depreciation of approximately $3,600,000) from January 1 to September 30. Investment in property and equipment during the period consisted primarily of the construction of new campuses in Keller, Texas and Oklahoma City, Oklahoma, and the purchases of three parcels of real estate.
- Total liabilities decreased approximately $3,600,000 from January 1 to September 30, consisting of a decrease of accounts payable and accrued liabilities of approximately $3,300,000 and a decrease due to debt repayments of approximately $346,000. No new debt was incurred during the period.