May-June 2009.pdf - Trinity School for Ministry

How is Trinity Faring
in the Financial Downturn?
by Justyn Terry
Wherever I go these days, Trinity supporters are
keen to know how we are doing in the current
financial downturn. I am sure many readers of
Seed & Harvest would like to know too, so let
me bring you up to date about where we are
and what we are doing about this situation.
Where we are
So far this fiscal year, which runs from July 1 to
June 30, we have enjoyed remarkably strong
support from our supporters. By the end of
February, we had received total annual fund
contributions of $1,110,581 (which included a
most generous gift of $250,000 from one
donor) toward a $1,260,000 target for the year
to date, which represents a shortfall of $149,419
from budgeted contributions. Because of careful
financial management, we are currently
under budget on our expenditures by $84,085,
but our costs still currently exceed revenues by
$178,799 through the end of February. Please
pray with us that the Lord will provide the additional
$990,000 of donations needed to break
even during the remainder of our current fiscal
year. This includes a planned release from the
board designated funds of $365,000, which will
deplete that fund.
Our first draft of the budget for 2009/2010
presents more of a challenge: we project a
$550,000 shortfall (cf. $4M total budget). I have
spoken with faculty, staff and students about
our anticipated needs for the next fiscal year
and invited suggestions and prayer.
What we are doing
There are basically three steps that we are taking:
seeking more students; speaking to more
donors; and seeing where more costs may be
cut. “Be a seminarian for a day” is proving very
effective in bringing potential students and supporters
to the campus. In the first five we have
had 104 visitors. We are also visiting conventions,
conferences, campuses and churches to
raise the profile of the School. In addition, we
have re-worked our MAR and our MAME (now
the “MA in Mission”) degrees so that they can
now be taken without relocating to Ambridge
(see story on page 4). We are also developing
exciting plans to help bridge new college graduates
into Trinity.
So we have a great deal to be thankful for in
these challenging times. I feel like I have been
asked to captain a small ship in a fierce storm,
but I am seeing very many signs that the Lord
is on the boat with us, so we have nothing to
fear. Please pray with me that the Lord will continue
to supply all we need to do his work.
May-June 2009
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