Our budget is running a bit more negative than expected, but not yet at a level that is a cause for concern. Our long-term finances remain healthy. All information below is as of the end of March.

Revenue and Expenses
Our operating income was $134,342, 92% of our budget of $146,103. Pledge contributions were about $17,000 short of budget, but investment income was about $3,000 higher than budget. Rental and gift card income was about $2,000 below budget. Operating expenses were $153,577, 104% of our budget of $147,860. This overage was due to higher-than-expected supplies and building maintenance, as well as some 2024 security salaries that were paid this year. Overall, this led to a net loss of $19,235, worse than our budgeted net loss of $1,757.

Assets and Liabilities
Total assets at the end of the quarter were $301,123.06, an increase of $88,000 from the end of 2024. This was mainly due to starting to receive donations toward the Capital Campaign. The total assets do not include the money in our endowments and other investments. Total liabilities were $317,380, about $107,000 higher than our total liabilities at the end of 2024. This was mostly due to the Capital Campaign donations, and donations to Bethel AME that we are holding until we send them a check. Overall, we ended the quarter with total equity of negative $16,257, a combination of our $2,978 in retained earnings from last year, and this quarter’s $19,235 net loss.

Warming Our Welcome, Brightening Our Future: Capital Campaign 2025
By now, you have hopefully heard about our Capital Campaign! This is the first opportunity in 30 years to invest in many major capital projects that will both address existing maintenance needs and help us offer new services and programs for our community. Please visit https://www.first-unitarian-pgh.org/connect/capital-campaign-2025/ to learn more and make your pledge. Once you have made your pledge, you will see the status of your pledge on future giving statements until it has been fulfilled.