What's Next for Mosaic:
Balancing Our Budget
We’re close to an important financial shift: after two years of investment, we’re moving to sustainable growth. That means our income will have to be higher than our expenses. Right now, it’s the other way around—and that’s according to plan. But that can't go on forever.
Ultimately, we expect Mosaic will attract new members who are excited about giving to sustain our ministry. Even so, the job now is to spend wisely. So, as we prepare next year’s budget, our top goal is to stop using savings to keep the church afloat. Here's how we'll get there.
We have three main types of income: donations, rent, fundraising.
- Regular donations are by far our main funding source. We're asking our members to consider taking one step in their giving.
- We offset some of our building expenses by charging rent for use of the Ballroom, and there is some room for that kind of income to grow.
- We're exploring options for raising funds through events and reaching out to new donors.
We're looking at everything we spend. But two big categories will be our focus: facility and staff. These are by far our largest expenses.
- This summer, we tackled facility costs in our negotiations for a new lease.
- Next we'll look at staff salaries and decide when a reduction would be necessary, who would be affected, and how much.
We hope deep cuts won't be necessary, but we're planning for them now, so we'll be ready if the time comes.