The 2019 Audit for Living Church of God (International), Inc. and Affiliates was published on October 22, 2020. It can be reviewed in its entirety on LCG.org under the “About Us” link. This audit was delayed because of the 2018–2019 shutdown of the United States government, and we and our auditors also had to adjust to working remotely and be creative in sharing information.
Once again, the audit was performed by Cherry Bekaert, LLP, and we received an unqualified opinion in the Independant Auditor’s Report. It states, “In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Living Church of God (International), Inc. and Affiliates as of December 31, 2019 and 2018, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.” In other words, outside viewers such as vendors and financial institutions can read our financials and know that the numbers stated are materially correct and that the Church uses proper accounting methods to present its finances.
A general summary of expenses for the year 2019 includes 38.31 percent preaching the Gospel, 53.85 percent feeding the flock, and 7.84 percent administrative.
The Church relies on the tithes and offerings of its members, donors, and co-workers to be able to fulfill the mission outlined in the Scripture to preach the Gospel and feed the flock. We are very grateful for your faithful support. Regular donations increased 4.4 percent in 2019, which allowed us to plan on sustained growth in important areas such as TV time, Internet, and the support of our local and international congregations.
In recent years, we have also been blessed with several one-time income items. We noted in last year’s report that we were planning on paying off the mortgage on the Headquarters building and all vehicle capital leases, which we accomplished very early on in 2019. It was a joyous day when we received the actual deed to our Headquarters property! Our balance sheet is in a strong position, and our savings, we are now realizing, allow us to buy equipment and software as needed without paying interest.
Having made it through 2020, we now look back at the fiscal year 2019. Even 2019 seems like it was another age, because of the world seemingly being turned upside down in 2020.
We couldn’t help but wonder why God sent us the funds in the order they ended up being received. He could have sent them at any time, but His was the perfect timing, just like that of an answered prayer. When you consider the special offerings that began accruing in 2018, God was preparing His Church for the leap forward that you are beginning to hear about even now.
He began with sending us the funds to pay off the building and all the vehicles. This really allowed us to concentrate on infrastructure and be ready to weather the storm of 2020. Not only have we weathered the storm—we are coming out of the crisis ready to push the Work forward as led by Christ!
Brethren, even with this good news, we know that we have only a little power and totally rely on God for His blessings and His guidance. We know that it is God who opens and closes the doors to preach the Gospel (Revelation 3:7–8). We are often reminded to pray for the Work and pray for more open doors.
It is exciting and sobering to see how God provides for His Work; know that you directly play an important part in the commissions of the Church. God could have called anyone He wanted from the billions of people we see around the globe, but He called us to share the Gospel with the whole world and welcome with open arms all who answer God’s call. Let’s get to work!