LCN Article
2020 in Review—A Leap Forward

January / February 2022

D. Jerry Ruddlesden, Financial Controller

The Living Church of God publishes its “Audited Financial Statements” each year. The complete 2020 Consolidated Financial Statements for Living Church of God can be found in their entirety at at the bottom of the page.

 The audit is conducted by Cherry Bekaert, LLP Certified Public Accountants, and the Report of the Independent Auditor states their opinion as follows: “In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Church as of December 31, 2020 and 2019, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.”

In the late winter of 2020, the COVID-19 crisis turned the world upside down. The Living Church of God had never experienced anything like this crisis, and it was unknown how the Work would be affected financially by the widespread shutdown of business and society. We made careful financial contingency plans and prayed and fasted for God’s guidance and for the protection of His people and His Work.pie chart showing allocation of church funds for 2021

God put a hedge around His people during this difficult time—almost all our members kept their jobs, and some even found better-paying jobs. God also blessed His Work with a large estate donation and royalty income. Regular tithes and offerings grew instead of decreasing, which placed the Church in its best financial position since the turn of the century. The 2020 overall income finished 23.4 percent above that of 2019.

That is why I chose to title this article “A Leap Forward.” Our financial state has allowed us to expand our preaching of the Gospel around the world in television, Internet, and print. We have been able to hire key personnel in the Internet, Editorial, and Television Departments, as well as new full-time minsters to serve the brethren. We have planned this expansion carefully so that it can be supported for several years with the funds that we have received in 2019 and 2020.

In 2020, the Church allocated 42.46 percent of expenses to preaching the Gospel, 49.73 percent to feeding the flock, and 7.81 percent to expenses pertaining to administrative needs.

We recognize fully that, even with the increased resources we have been given, the Work only goes forward as we rely on God. Your support and prayers are a key part of that reliance, as the Work does not sell the truth but strives to fulfill the commission given to the Church to preach the Gospel as God opens the doors to do so. Jesus Christ gave His disciples a command that still applies to the Church today: “And as you go, preach, saying, ‘The kingdom of heaven is at hand.’ Heal the sick, cleanse the lepers, raise the dead, cast out demons. Freely you have received, freely give” (Matthew 10:7–8). Let’s be about the Father’s business!