During the first week of May 2017, Melanie Ringa, Treasurer of the Orthodox Church in America, released the financial report for the first quarter of the year. The complete report is available in PDF format.
Highlights of the report include the following.
- The balance sheet as of March 31, 2017 indicates total assets of $3,082,640.00, total liabilities of $215,127.00, and net assets of $2,867,513.00, representing an increase/surplus of $40,801.00 year-to-date.
- Total revenues were over budget by $7,350.00, while expenses for the quarter were right on budget with a variance of a mere $52.00.
- Year-to-date contributions to the “Stewards of the Orthodox Church in America” totaled $11,435.00. Departmental expenses totaled $18,913.00, compared to a budget of $26,651.00.
- With regard to permanently restricted funds, unrealized investment gains totaled $24,664.00 for the first quarter, while additional Mission Endowment funding totaled $25,000.00 with expenses of $2,639.00, for a net surplus of $47,025.00.