Melanie Ringa, Treasurer of the Orthodox Church in America, released the financial results for the first two quarters of 2016. The complete report is available in PDF format.
Highlights of the report include the following.
- The balance sheet as of June 30, 2016 indicates total assets of $2,847,991.00, total liabilities of $237,618.00, and net assets of $2,610,373.00—a $63,113.00 increase year-to-date.
- Actual results show a surplus of $63,113.00. The Unrestricted [Operating] Fund showed a new surplus of $43,162.00 for the quarter ended March 31, 2016 and a net deficit of $25,370.00 for the quarter ended June 30, 2016—a year-to-date operating surplus of $17,792.00.
- Year-to-date contributions to the “Stewards of the Orthodox Church in America” totaled $38,313.00—$8,723.00 above the anticipated amount—while the $39,731.00 in Departmental expenses, compared to a budget of $51,375.00, also resulted in a positive variance of $11,644.00.
- Income and unrealized investment gains totaled $45,914.00 with expenses of $4,052.00, for a net surplus of $41,862.00.