Financial Report 2010

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As has been our custom for many years, we have prepared a report of how we have used the Lord’s monies during these last two years in Chad.  We are grateful once again to the Lord and to all of you for making our ministry to the Kwong possible. We trust this report, positive as it is, will be an encouragement to you, as it has been to us.

 

Regular contributions during term

October 20, 2008 - October 28, 2010  (24 Months)

 

Monthly Average

Yearly Average

Total over term

Regular Contributions – Oct. 2008 - Sept 2010

$6,549.36 

$78,592.38 

$157,185

Personal Salary and Benefits (averages over term)

 

Monthly average

Yearly average

Total over term

Personal Salary

$2,500.00 

$30,000

$60,000

Housing

$482.50 

$5,790

$11,580

Health Insurance

$547.43 

$6,569

$13,138

Pension (employer portion of 403b)

$160.00 

$1,920

$3,840

Total personal salary and benefits

$3,689.93 

$44,279

$88,558

(56% of regular support)

Administrative Expenses (averages over term)

 

Monthly average

Yearly average

Total over term

TEAM Home office services

$586.00 

$7,032

$14,064

Chad field operations

$268.75

$3,225

$6,450

Total administrative expenses

$854.75 

$10,257

$20,514

(13% of regular support)

After personal salary, benefits and administrative expenses were paid, the following amounts were available for the real business of missionary work among the Kwong. The disbursement of these funds is detailed on the following page.

Regular support available for Kwong ministry:

$2,004.68

$24,056

$48,112

(31% of regular support – see page 2 for details of its disbursement.)

 

Ministry Expenses During Term

Funds available for ministry

Ministry fund balance from last term

 

 

$10,335

Available from regular support (from previous page)

 

 

$48,112

Total funds available during term for ministry

 

 

$58,447

 

 

 

 

 

 

 

 

Ministry Expenditures (totals over term)

General missionary expenses

 

 

 

Chadian residency permits

 

$275

 

Evacuation Insurance

 

$2,543

 

Maintenance of Airstrip

 

$196

 

Home improvements

 

$1,041

 

Solar for electricity at house

 

$1,158

 

Missionary conferences

 

$382

 

Newsletters, communication

 

$1,527

 

On-field travel for ministry

 

$4,401

 

Equipment, supplies

 

$736

 

Kwong leadership training

 

$633

 

Furlough airfare

 

$4,821

 

Miscellaneous

 

$551

$18,264

Kwong Bible Translation

 

 

 

Monthly support for translators

 

$2,233

 

Training for translators

 

$167

 

Translation checking - Luke and Genesis

 

$2,702

 

Printing of translated materials

 

$1,008

 

Sale of books

 

-$155

$5,955

FM 95.2 - The voice of Chageen

 

 

 

Government operation license

 

$521

 

Engineer’s salary

 

$2,824

 

General operation expenses

 

$1,093

 

Fixed tuned radios for Kwong women

 

$1,100

 

Repeater antennas (in addition to special gifts)

$742

$6,280

Evangelical Clinic of Chageen

 

 

 

Subsidy and general upkeep

 

$1,363

$1,363

Support of Evangelical Church of Chad

 

 

 

Helping our Chadian brothers and sisters do ministry

$10,417

$10,417

Total ministry expenditures

 

 

$42,279

Credit remaining of ministry funds ($58,447 - 42,279)

$16,169

(reserved against Toyota deficit – see note below and chart on page 3.)

 

We are reserving these funds against the possibility that we will have to make good on the debt we owe TEAM for over $17,000 on the purchase of our Toyota truck (see chart, page 3). We were victims of a dealer’s scam in February 2000 when we bought the truck. Now, 11 years later, after having won both primary and appellate court rulings in our favor, the case is winding its ponderous way through the Chadian Supreme Court. Even if we win again, it remains to be seen whether we can actually recover all the money from the dealer. We have already recovered $3,378  from them – a sum about equal to what we have spent on lawyer and court fees over the years.

 

Special Projects - Designated funds

Contributions received

Total Expenses

Remaining Balance

Evangelical Clinic Construction

$33,436

$31,871

$1,565

Radio Repeaters for distant villages

$1,299

$2,041

-$742

Chalkboards for schools

$141

$113

$28

Vaccine Refrigerator for Clinic

$688

$688

$0

 

Toyota Deficit

Deficit at beginning of term

-$19,084

Lawyer fees this term

-$416

Court ordered partial recovery of funds

$3,378

Fall in value of US dollar

-$1,467

Ending deficit

-$17,589

See note, bottom of page 2, for an explanation of this deficit.

 

 The bottom line

1.      In the 2½ years since our last financial report, the costs of Kwong ministry, health insurance, pension contributions, and home office services have increased significantly. Fortunately, our support base was good and we had some substantial special gifts which enabled us to do ministry with ease and finish the term in the black. For this we thank the Lord.

2.      Because of normal attrition in our support base, and the fact that the healthy support we just mentioned was due in part to some special gifts, our current average monthly support is about $600 below what we anticipate needing for this coming term.

As the years go by, it is hard not to feel a bit self-conscious about the considerable expense it is to keep us ministering in Chad. When Mark made his first financial report in 1993 after his first term overseas, it cost just $13,382 a year to him keep serving as a missionary. That was not an ideal situation: just getting by on that amount was difficult. But even allowing that the support base of the early 90’s was really too low, and that we are now two instead of one, and that back then there was no clinic, radio station, or translation project to fund, it still amazes us that it costs upwards of $70,000 a year to fund the missionary effort among the Kwong. The only thing still more amazing is that the Lord’s people just keep on giving. As always, this generosity imbues us with a deep sense of responsibility to both spend this money carefully, and to acquit ourselves diligently of the trust which more than 60 individuals and 7 churches have put in us.

Many thanks to each of you for your many years of dear friendship, faithful prayers, and yes, generous support.

Mark and Diane

 

 
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Last modified: May 17, 2011