Thursday, February 28, 2013

UCG Finances Still Taking A Hit

FYI to any splinter groups that needs some HQ property.  UCG still is trying to sell the land boondoggle in Texas

Finances—Aaron Dean
As treasurer, Mr. Dean reported that the current income fiscal year to date   totals $11.5 million and expenses are at $11.9 million. Expenses have not come down as quickly as expected, as people are renewing their Good News subscriptions   at a higher rate than we anticipated—mostly in areas outside the U.S. However,   our financial situation is a lot better than what it was a few months ago.

We expect that gap to continue to narrow so that our expenses come in line.   We are putting together a balanced budget for our forthcoming meetings.

There has been no development on the sale of the Texas property. Financial reports at the GCE will have a slightly different layout, to be more easily   understood and will include projected cash flows.

Mr. Dean expressed his thanks to our employees for the financial hit they   had to bear to help balance the books, and thanked the members for the special offering, which is now in excess of $730,000.


Joe Moeller said...

Taking a hit??

Income is projected to be up 11% for the fiscal year, and is UP 4% February over last February.

According to Aaron Dean, the biggest problem has been MORE people renewing subscriptions to the Good News magazine that they expected. In business this is known as a "good problem".

They are within 3% of being balanced, have plenty of reserves and will work thru this just fine. The word "hit" is a bit bombastic here.

Got to give praise for the fact that they are forthright and transparent about it all.

Joe Moeller
Cody, WY

Anonymous said...

The only time that UCG is transparent about church business is when they need more donations.

Excuse me,sorry, they are transparent when they admit that the want to take care of the compensation structure, Then they are true to themselves.

Have they been transparent about doctrine changes? They just stated that they can not decide if uleavened bread should be eated on the DUB.

The property purchases are always on the sneak. The people that send in money to allow the lazy ministry to have an unearned living, are the last to know.

Anonymous said...

The funniest thing about that Texas property is that the guys in UCG who bought it that are now COGWA, they still wanted the land, and they were, from what I heard, willing to pay the full asking price, and UCG seemingly spite-refused to sell it to them. I think that "United" really showed their true colors during their lack of unity in 2010 and their bad attitude illustrated the fact they don't really believe in anything they preach and aren't capable of practicing anything Jesus taught. (Don't get me wrong, COGWA is no better.) I don't think the plan was going to work out for that property in any case because I don't think the growth that Clyde Kilough was taking on faith was ever going to materialize anyway, so, I think they might actually have helped COGWA avoid it's own boondoggle, while continuing to keep it dangling around their own necks. Heads I lose, tails you win.

Anonymous said...

Members gave "special" offerings that have now exceeded $730000?
Says a lot now doesn't it?! I wonder at what real expense its members have naively given of their money to a bureaucratic, pseudo-religious cult?

Anonymous said...

Money goes to BIG SIX-FIGURE-SALARIES for those at the Top