September – December 2022
January – May 2022
The year has started well for OMF (UK) financially. The Lord has blessed us with total income slightly above what we had budgeted to receive by May.
As on many occasions before, when income in one area was lower than budgeted, we have been blessed with higher income in another category. From the legacies we have received so far and what we are aware of already, 2022 is likely to be another good year for legacy income. It is very reasonable to expect that we could receive over £700,000 in legacy income by the end of the year.
We have recently been reviewing how we present information in our financial reports. The income categories remain the same, but we have changed how we report expenditure.
All costs related to running the OMF (UK) centre are now grouped under a single budget line. This includes staff salaries, members’ allowances and the running costs of the National Office, to provide a much more accurate picture of the full cost of the UK National Office. In the previous edition of the Billions containing an extract from the 2021 annual accounts, areas of expenditure were roughly split by activity to comply with regulatory requirements. By splitting the categories as we have done below, we consider this provides a better illustration of how money if being used.
The UK Beyond Borders ministry covers our work with East Asians in the UK, both short-term and longer-term residents, as well as training churches to engage with people from other cultures and theological mission research. Diaspora Returnee Ministries are part of Beyond Borders, but focus specifically on East Asians planning to return to home.
Member Pension and National Insurance Contributions covers the cost of both UK-based and overseas-based members. The Retiree Allowance Expenditure, shown below, include payments made to workers who retired before OMF had implemented a pension scheme, served for 15 years and were born before 1st January 1954. (If you meet these criteria and need additional financial support, please get in touch.)
The Funds Sent Overseas heading covers all the money that is allocated to the overseas-based aspects of ministry, such as allowances for members, ministry funds and contributions to field and international centre costs. In addition, the figure of £886,000 includes £93,000 for restricted projects.
Director for Finance & Corporate Services