Executive Board Briefing — Financial State of FOUNT Church
Prepared April 2, 2026 | Confidential
FOUNT Church has approximately $136,855 in cash reserves. After relocating Manhattan services to Fount Studios (effective April 5), total monthly outflows drop from ~$246K to ~$192K against ~$140-145K revenue, leaving a -$52K to -$75K/month net deficit. Per the 13-week forecast, cash goes negative by June 7, 2026 (~2.1 months). The venue move buys critical time, but the church remains in severe deficit requiring immediate board action.
Key Findings
With the Manhattan venue eliminated (effective April 5), monthly outflows drop to ~$192K but revenue is only ~$140-145K, creating a net deficit averaging ~$64K/month. $137K cash / $64K monthly deficit = ~2.1 months. Per the 13-week forecast, cash goes negative by June 7, 2026. AP obligations of $92K make the picture worse. Per the 13-week cash flow forecast, the ending balance goes negative (-$39K) by late June. Payroll alone is $77.8K/month ($35.9K bi-weekly all-in). The venue move buys time — it does not solve the structural deficit.
RESOLVED (effective April 5): Manhattan services relocating to Fount Studios at zero rental cost, saving $72K/month ($864K/year). This was consuming 78% of Manhattan's revenue. Manhattan now nets its full $91.8K/month — the single biggest financial improvement possible. Brooklyn remains at $18K/month.
Monthly cost: $37,622 (mortgage $30,450 + condo $6,172 + utilities $1,000). Revenue: $5,500 + eliminated $72K Manhattan venue rental. By hosting Manhattan services, the Studios effectively offset their $32K/month net loss against the $72K venue savings — a net improvement of $39.9K/month. The property shifts from the second-largest liability to a strategic asset.
$933,622/year across 11 employees = 55.6% of revenue. Healthy churches target 40–50%. Top 2 salaries (Ps. Josh Kelsey $200K + David Walker $115K = $315K) represent 34% of total payroll. 4 clergy at $432K/year, 7 staff at $502K/year.
$80K+ outstanding across Nelson Madden Black ($55K) and Dentons ($25K). Includes a $28,465 “Internal Dispute” invoice dated February 2026. Legal fees of this magnitude suggest governance/HR issues requiring board awareness.
938 → 574 (-39%) over 13 weeks with no recovery trend. February 15 recorded zero Manhattan attendance. The pattern suggests a precipitating event, not normal fluctuation. If attendance stabilizes at ~550, giving will eventually follow downward.
Giving typically lags attendance by 3–6 months. Current giving of $420K YTD is on a $1.63M annualized pace. If giving follows attendance (39% decline), annual giving could fall to ~$1.0M. However, with the venue move reducing annual expenses from $2.95M to $2.08M, the gap narrows significantly — $1.0M vs $2.08M is survivable with further cuts, whereas $1.0M vs $2.95M was not.
Top 1% (5 donors) provide 19% of all giving ($79,897). Top 5% (29 donors) provide 45.2%. Single largest donor contributes 8.8% ($37,000). Loss of any top-5 donor would be immediately material.
After the Manhattan move to Fount Studios, combined venue cost drops to $18K/month ($216K/year) — Brooklyn only. Venues now consume just 13% of total revenue (down from 64%). This frees $72K/month that was previously absorbed by Manhattan's rental, allowing both locations to generate meaningful surplus above venue costs.
99.5% of giving is through one digital platform (Pushpay). Fount Studios generates only $5.5K/month. No events revenue, facility rentals, or partnership income. Benevity matching ($1.5K/month) is the only non-congregational source.
Recommended Board Actions — Priority Order
Immediate — This Month
Short-Term — 60 Days
Strategic — 90 Days
This briefing is based on financial data through March 2026. All figures are approximate and subject to verification through independent audit.
Overview
Key Insights
Attendance
Weekly Attendance by Location
Giving
Fund Breakdown
Participation Rate
Recurring Giving
Donors
Top Donors
| # | Name | YTD | Largest | Status |
|---|
Tier Analysis
Concentration Risk
Donor Segments
All-Time Top Donors — Retention Analysis
Lifetime giving vs. 2026 YTD pace. Flags donors whose YTD giving is significantly below their historical rate.
| # | Name | Lifetime | YTD 2026 | YTD % | Stage | Status |
|---|
Locations
Brooklyn
Manhattan
Venue Cost as % of Revenue
Expenses
Revenue vs Expenses
Expense Breakdown
Payroll
| Name | Type | Bi-Weekly | Annual |
|---|---|---|---|
| Joshua J Kelsey | Clergy | $7,692.31 | $200,000 |
| David M Walker | Staff | $4,423.08 | $115,000 |
| Amy L Perez | Clergy | $3,846.15 | $100,000 |
| Olusegun Olujide | Clergy | $2,834.04 | $73,685 |
| Kevin D Myers | Clergy | $2,250.00 | $58,500 |
| Rachel A Ruha | Staff | $2,500.00 | $65,000 |
| Brittany A Smigielski | Staff | $2,500.00 | $65,000 |
| Tameeka Walker | Staff | $2,307.46 | $59,994 |
| Samantha A Slezak | Staff | $2,000.00 | $52,000 |
| Robert M Oaks | Staff | $960.00 | $24,960 |
| Chantel Z Corley | Staff | $800.00 | $20,800 |
Accounts Payable — Aging
| Vendor | Amount |
|---|---|
| Nelson Madden Black (legal) | $55,129 |
| Dentons (legal) | $25,000 |
| Ministry Advance (consulting) | $8,639 |
| Fowlstone (PR) | $3,500 |
| PR Agency | $3,500 |
| Total AP | $92,268 |
Financial Health
Donor Engagement Strategy
Personalized engagement recommendations for the top 50 donors based on their giving pattern, lifetime history, at-risk status, and donor stage.