Negative cash flow hits nearly $1 million in PCUSA campaign By John H. Adams The Layman Online Monday, October 11, 2004 The September report on the Presbyterian Church (USA)'s $40-million mission campaign showed a $200,226.80 decrease in total gifts and pledges when compared with the previous quarter. Campaign totals as of Sept. 30, 2004 Total pledges and gifts $8,167,224 Cash received $738,078 Campaign expenses $1,684,747 Negative cash flow $946,569 But the third quarter report for the campaign – called Joining Hearts & Hands – said that, because of an accounting error, pledges were overstated by $265,000 in the June report. Therefore, the total of gifts and pledges increased by $65,438.19 between June 30 and Sept. 30, according to an analysis of the two reports. It cost the General Assembly Council, which has been financing the campaign through its per-capita mission funds, $189,795.50 to raise the $65,438.19 – a net loss of $124,357 for the quarter. In the three years since the campaign was begun by the 213th General Assembly in 2001, the campaign's expenses have totaled $1,684,747.46. Cash receipts have totaled $738,077.99, leaving the campaign with a negative cash flow of nearly $1 million – $946,569.47. Campaign officials have repeatedly said that the front-end costs of a major fundraiser require disproportionate spending in the early years. But the negative cash flow has increased each year in what was intended to be a five-year campaign. The September report says the campaign has received gifts and pledges totaling $8,167,224.44. Of that amount, 82.7 percent – $7,675,125 – is in pledges, mostly for new church development. The campaign has a goal of raising $20 million for new church development and $20 million for foreign missions. Through September, the new church development component has received $4,387,373.64 in gifts and pledges. Of that amount, less than 1 percent – $26,373.64 – has been recorded as cash contributions. The new church development money is collected by and administered in the presbyteries, just as was the case before the $40-million campaign was begun in 2001 after the denomination cut 34 foreign mission assignments (10 percent of the total).

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