FY25 Budget Preview & Forum

Watch and engage with our FY24-25 Budget Preview. Salt House Treasurer Irwin Dolobowsky shares the proposed plan for Salt House's budget for the next fiscal year. If you have comments or questions, please email them to Irwin Dolobowsky HERE.

Download a copy of the proposed budget.

We will be voting on the budget at our June 9 Annual Meeting.

TODAY:

• Budgeted Giving Income FY24 = $433k 
• Projected End-of-Year Income = $389k-$415 
• After expenses, if could mean $18k-$55k deficit for this year. 
• Historically, we’ve seen giving increase in Q4 to help shrink deficit. 

 
INCOME FOR FY25:  

• Proposed Giving Income = $410k (-5%) 
• Pledge Drive is underway. 
• Other income sources: 
• Interest: $5k – ($100k invested in CD) 
• Building Use: $140k (+47%, Rent increases, Kirkland Co-Op Preschool) 
• Parsonage: $30k (+0%, keeping it the same for now) 

 
Overall, for FY25 we’re looking at Total Income of $585k, up 3% over last year.
 
EXPENSES FOR FY25:
 

• STAFF - $488k (+5%, includes COLA and expanded admin) 
• BENEVOLENCE - $41k (-5%, based on projected giving) 
• OFFICE - $26k (+20%, mostly administrative & legal fees)  
• BUILDING - $59k (-3% as we explore alternatives for insurance, security, etc.) 
• MINISTRY - $19k (+72%, expanding queer ministry and growth in all areas) 

 
Overall, for FY25 we’re looking at Total Expenses of $633k, up 5% over last year. 
 
This means we would have a projected deficit for FY25 of nearly $48k. 
 
 
QUESTIONS: 
 
Why do we anticipate giving to be less next year? 

• Looking aspirations for this coming year, we have adjusted our expectations for giving to match historical giving trends. It’s a more attainable goal. And we are hoping to be pleasantly surprised at the end of FY25 when we exceed our giving goal. 

 
 
Why would we choose to present a budget with a projected deficit? 

• Two of our biggest assess are our staff and our property.  
• We are working to support our hard-working and resilient staff and following the recommendations of our finance and personnel teams. We understand that supporting our key leaders in this season is necessary for the continued success of Salt House. Additionally, we’re continually expanding our ministry engagement with youth, families, queer folx, and those experiencing homelessness. These all point toward increased investments in our budget.  
• The Property Vision Team is looking for ways to secure income by utilizing our property innovatively and sustainably.  

 
 
What is the plan for addressing the deficit going forward? 

• We have just over $300k in savings which gives us 2-3 years of buffer as we grow. 
• Our Property Vision Team is working hard to form a vision and plan for the properties we currently own (which we own outright, no debt) and how to leverage them for continued growth and sustainability for ministry and mission. 
• We are still a growing congregation and expect to see increased engagement over the next 12 months. 
• We haven’t received any grants in the past year but are looking. Can you help? 

 
 
Are donations to Salt House able to be matched? 

• ONLY donations that are not earmarked for the ministry (general fund) can be corporately matched. Currently our Community Initiatives Fund can be matched by employers. 

 
What is the current paid time off policy at Salt House? How is this changing in FY25? 

• All pastors and staff accrue paid time off based on their tenure of employment with Salt House.  
• In FY25, we are offering Pastor Sara and Pastor Ryan 2 additional weeks of paid time off. This is a creative alternative to a full COLA raise. We have not been able to offer our clergy a full COLA raise for 2 consecutive years now; time off was an alternative proposed.  

 
Given the size of Salt House today and where we see we're at for the next year, to understand the rationale for having 1.75 FTEs of pastoral staff. What's the rationale behind that, a level of staffing? 

• When Pastor Sara sustained a concussion in 2018, Pastor Ryan joined our staff. We as a community discerned that a second pastor was necessary for the growth of our congregation. Having Pastor Ryan full time and Pastor Sara ¾ time has also allowed Pastor Sara the necessary time and space to heal.  
• Salt House has intentionally staffed and budgeted for growth. This continues to be our strategy. 
• Two pastors on staff (One full-time and one ¾ time) creates a broader experience and more a robust care network for all and supports the growth of our youth and family ministry.  
• Our pastoral staffing strategy extends beyond the walls of Salt House by engaging directly with our neighbors at Kirkland Place.