Covenant Presbyterian Church - Charlotte, NC

year-end Financial update

Thank you for your support of Covenant during what is certainly a challenging year. Our congregation’s generosity has allowed us to continue to fulfill the needs for our church family, community and world.

Many have fulfilled your 2020 pledges early and, for that, we are deeply grateful. Between now and the end of the year, Covenant needs over $400,000 of giving in order for our operating budget to end the year whole. Thank you for your generosity.

A closer look
Many have asked about other financial implications of the pandemic. Here is a broad overview:

In addition to the pledge basis of our annual budget, there is also an un-pledged and loose offering section that is currently running $30,000 short.

We also have several ministry areas that typically generate income for the church - Child Development Center, Preschool, Recreation Wing and Food Service. These areas have been dramatically impacted by our pandemic closure and represent a year-to-date income shortfall of $850,000.

Fortunately, we have also been disciplined to create (mostly!) off-setting savings in utilities, office, property and personnel – with the most significant savings coming in personnel. We anticipate these savings to be approximately $715,000.

We have been able to maintain a stable net financial position, but we are counting on the next month of giving to finish the year well-positioned for a continuing strong execution of our mission in 2021.

What you can do
You can make a secure online contribution using the link below. To be deductible in 2020, your gift must be received or postmarked prior to midnight on Dec. 31. Church offices are open until 5 p.m. For questions, please contact Bill Keith or call 704-804-7575.