NovusWay’s year-end numbers confirm the truth of what we say! NovusWay’s Acting Interim CEO, Rev. Dr. Leonard Bolick and Board of Trustees President Charles Bridgers are delighted to share the good news revealed in our year-end financial statements reported to the Board at its March 11-12, 2022 meeting. Despite relentless Covid variants, Delta and then Omicron, that required us to limit our summer camp schedule and cancel some Fall and Winter programming, our total revenue for the year ending 12/31/2021 was $3,612,000. This is an increase of $1,087,000 over total revenue for 2020 and only $516,000 behind pre-pandemic’s 2019 total revenue.
In a typical year for NovusWay our business model is supported by about 75% of income from programming and hosted ministry; the remaining 25% from the generosity of individuals, congregations and synodical benevolence. Covid changed all that for us in 2020. With camps closed, programs and hosted ministry cancelled or were limited, God provided a dramatic increase in synodical gifts, grants and individual contributions to sustain the ministry. In 2020 only 9% of operating funds came from programs; 19% from hosted ministry, and 72% came from contributions, most of that through the very generous response to our Light the Fire special appeal.
We planned 2021 to be the beginning of a “covid-comeback” for our faith forming ministry. Covid’s Delta and Omicron variants impacted plans and reduced our offerings. By the grace of God, the boldness of those who participated in camp, year-round programs and hosted ministry opportunities, and the generosity of individuals that exceeded the generous response of 2020 to the annual fund by $139,445, we’re growing again! “And our total income last year shows us moving back to our strong business model,” says Bishop Bolick. “Our income distribution shows that, with 35% of income from programming, 18% from hosted ministry and 47% from gift income.”
“We’ve given you a lot of numbers to digest,” admitted Mr. Bridgers, “but in the interest of transparency and as our faith partners in God’s work of forming faith in people of all ages, we want you to see the goodness of God that we see in the support of so many. Thank you for your prayers, patience, participation, and generosity as we grow back to the fullness of ministry you have come to expect of NovusWay”.
Bishop Bolick’s work as Acting Interim CEO for NovusWay concluded Sunday, March 20. The Board’s newly appointed Intentional Interim CEO, Richard (Dick) Peterson, began his ministry leadership Monday, March 21. For leadership concluding and leadership unfolding, we give God thanks. We know you will too.
