{"id":62,"date":"2007-07-24T06:10:17","date_gmt":"2007-07-24T14:10:17","guid":{"rendered":"http:\/\/www.cogwriter.com\/news\/cog-news\/lcgs-audited-financial-statements-out\/"},"modified":"2007-07-24T06:18:02","modified_gmt":"2007-07-24T14:18:02","slug":"lcgs-audited-financial-statements-out","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/cog-news\/lcgs-audited-financial-statements-out\/","title":{"rendered":"LCG’s Audited Financial Statements Out"},"content":{"rendered":"

COGwriter\u00a0<\/a><\/p>\n

The latest edition of LCG’s Living Church News<\/em> arrived last night.\u00a0 It contained a copy of LCG’s audited financial statements for the year ending 12\/31\/06.<\/p>\n

For its fiscal year ending 12\/31\/06 LCG grossed\u00a0 $11,122,232(compared to 10,352,593 for the year ending 12\/31\/05) and spent on public proclamation 4,827,192 (prior year was 4,429,377) , 819,674\u00a0 on HQ administration, 5,401,131 to ‘feed the flock’ and increased reserves by 74,235.<\/p>\n

UCG’s financial statements for its year ending 06\/30\/07 are not out yet (normally they come out a month after the Feast of Tabernacles).<\/p>\n

So the following is the latest\u00a0spending analysis publicly available.<\/p>\n

If you gave $100.00 to the United Church of God or the Living Church of God, here is where your money went:<\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 United Church of God\u00a0\u00a0\u00a0\u00a0 <\/strong>Living Church of God<\/strong>
\n1st Commission to Proclaim the Gospel to the\u00a0World\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$19.78\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0 $43.40
\n2nd Commission to Feed the Flock (and Field Ministry)\u00a0\u00a0\u00a0\u00a0
\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $57.09\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $48.56
\nHeadquarters\/Home Office\u00a0\u00a0
\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$18.24\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $6.88
\nChange in Reserves\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $4.89\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $\u00a00.01
\nTotal\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0$100.00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $100.00<\/p>\n

I went with LCG because of Gospel and governance. It is interesting that UCG spent nearly 3 times as high a percentage on governance than LCG does (and\u00a0almost 5 times as much in actual cash, UCG spent $3,994,978 vs. LCG’s 819,674).\u00a0 And that LCG actually spent more cash on public proclamation (UCG reported spending 4,334,081 in it last statement).<\/p>\n

Now, I need to add that, UCG, after 11+ years of existence does intend to finally get around to placing a higher priority on proclaiming the Gospel.<\/p>\n

Which form of governance is more cost-effective? Which form places the higher priority on proclaiming the Gospel? With about half the income, LCG spends more in actual cash as UCG to proclaim the Gospel. LCG also produces nearly twice the number of magazines (Tomorrow’s World vs. Good News) on a per member basis than UCG does. <\/em><\/p>\n

He who has ears to hear, let him hear.<\/em><\/p>\n

The previous comparison is available in the article <\/em>Differences between the Living Church of God and United Church of God<\/a>.<\/p>\n

I have never seen an audited financial statement for PCG (though I thought I had part of one from one of its Pastor General’s Reports).\u00a0 The only part I currently can locate shows that a chart of how 2005 income was spent by PCG was in the PCG Pastor General’s Report dated April 8, 2006. The chart shows, “Assistance $ 79,502.11″\u00a0 (around 2\/3 of 1 %).\u00a0\u00a0LCG’s latest financial statement shows $869.051\u00a0for “Assistance to the needy” (7.8%).\u00a0<\/font><\/p>\n

Two\u00a0articles of possibly-related \u00a0interest may be:<\/em><\/p>\n

Teachings Unique to the Philadelphia Church of God<\/a>\u00a0
\nThere are Many COGs: Why Support the Living Church of God?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

COGwriter\u00a0 The latest edition of LCG’s Living Church News arrived last night.\u00a0 It contained a copy of LCG’s audited financial statements for the year ending 12\/31\/06. For its fiscal year ending 12\/31\/06 LCG grossed\u00a0 $11,122,232(compared to 10,352,593 for the year ending 12\/31\/05) and spent on public proclamation 4,827,192 (prior year was 4,429,377) , 819,674\u00a0 on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-62","post","type-post","status-publish","format-standard","hentry","category-cog-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/62","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/comments?post=62"}],"version-history":[{"count":0,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/62\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/media?parent=62"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/categories?post=62"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/tags?post=62"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}