No Puns This Time - WELS Giving Is Up

For the fourth straight month, Congregation Mission Offerings—the offerings congregations submit for WELS’ collective ministry, known as CMO—exceeded offerings of the same month from the previous year.

CMO for the first 10 months of 2007 is up $900,000—or about six percent—over the same time period last year and is forecasted to be $500,000 greater than budget. Also, gifts from individuals are $700,000 greater than the prior year and $100,000 greater than budget.

Todd Poppe, WELS chief financial officer, urges caution in using the results to forecast support for the balance of the year and the future, but he acknowledges they are encouraging. “We need the continued financial growth to support the ministry plan approved by the convention and our prayer for ministry growth in the future.”

The revised budget forecast points to a surplus of $1 million which, in accordance with Synodical Council policy, would be used to re-establish a buffer fund. The buffer fund can be used to offset support shortfalls in the second year of the biennium or beyond.

Executive Summary

Operating Fund

As of September 30, 2007

The attached financial statements reflect the results for September and year-to-date. Although the results are encouraging, caution must be employed when using them to forecast support for the balance of the year and the future. Actual results are heavily dependant on Congregation Mission Offerings (CMO) for the balance of 2007 and the first six months of 2008. CMO subscriptions for 2008 will not be known for several months.

Financial support for September of $1.8 million exceeded, on a comparable basis, the prior year by $200,000. Investment income accounted for $110,000 of the increase while CMO increased only $20,000. Expenses for September are in line with budget and reflect the reclassification of school subsidy to the $2.6 million special fund transfer to Ministerial Education by the Synodical Council.

Through September, support of $11.6 million exceeded the prior year by $4.4 million. The increase reflects the following:

• First installment of a five-year gift, plus foreign currency gain of $2.8 million
• Congregation Mission Offerings (CMO) receipts are $650,000 greater than the prior
year. The increase reflects the Conference of President’s encouragement which
resulted in a reported increase of $550,000.
• Gifts from individuals of $950,000 are $650,000 greater than the prior year and
represent fifty percent of the forecast. The change was led by Walking Together with an increase of $300,000. Mission Partners and Other gifts increased $150,000 and
$200,000, respectively. Much of this increase was likely realized from the efforts of the COP leading up to the convention.

Expenses of $7.4 million are in line with budget and are $200,000 greater than the prior year.

The increase reflects:

• Internal borrowing debt repayment of $1.2 million incurred in July vs. $200,000 which
was not recorded until December the prior year
• Funding $1.8 million of school subsidy from the special funds transferred to Ministerial Education by the Synodical Council
• Inflationary pressures on wages, benefits and other expenses.

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GJ - No surprise, now that Gurgel--the hastily retired SP with the spiritual gift of leadership--is living in a secure, undisclosed location in Asia.

The blurb on the Asia seminary is confirms the ongoing efforts to promote false doctrine. Al Sorum, of all people, is the NT professor at the Mequon Sausage Factory. He recently traveled to the Asian seminary to teach students there, for six weeks. Dreadfully expensive. Why not just mail them a box of Waldo Werning books? Or the latest from Paul Y. Cho?

Dr. E. Allen Sorum, New Testament professor at Wisconsin Lutheran Seminary, just returned from teaching a six-week course in Hong Kong on Oct. 27. Future courses will be taught by Prof. Ken Cherney and Dr. John Brug from Wisconsin Lutheran Seminary, and Prof. Keith Wessel from Martin Luther College, New Ulm, Minn.

Missouri and WELS have a shared vision of promoting Fuller Seminary doctrine around the world. Why duplicate efforts? In fact, why bother at all? The Asians can get their Fuller Seminary doctrine directly from honest missionaries who admit where they have studied, bragging about being Fuller graduates. The chief characteristic of WELS Fuller alumni is they deny being Fuller alumni.

Others have predicted that WELS will face the music in a few more months, when all the bills come due. If the members and pastors show confidence in the new SP with their offerings, then perhaps they will trust in a new direction in doctrine. Only God's Word can accomplish that, but who who relies on that today?