RMM Finances in Perspective
Q & A with RMM’s CFO
Keith Scheffel, RMM Chief Financial Officer, responded to the following questions:
Q – What do RMM finances look like at the end of the 3rd quarter (September 30) of this fiscal year?
A – RMM ended the 3rd quarter with a deficit of $290,000. This is due to a $217,000 decrease in income coupled with a $144,000 increase in expenses.
Q – A $217,000 drop in income seems significant. What factors have contributed to this?
A – There are two main factors behind this decrease. The one being that RMM received a $100,000 contribution in September of 2005 (something we haven’t received – yet at least – in 2006). The other being the significantly smaller REACH program in 2006 compared to 2005 that has resulted in $100,000 less in REACH program fees. Other contributions have remained basically flat in comparison to 2005.
Q – The $144,000 increase in expenses seems significant as well. What’s the story behind that?
A – In response to the doors God has been opening in the countries of Thailand, Morocco and Spain, coupled with quality individuals ready to be sent to these mission fields, RMM has undertaken significant expansion in 2006. Our original ministry plan for 2006 called for a 15% increase in our budget; actual expenses through the 3rd quarter reflect a 10% increase.
Q – There seemed to be a positive response to the Missions Day Offering lifted at Conference. How does that factor into RMM’s overall financial picture?
A – We are grateful for the generous response to the Missions Day Offering. The goal was $240,000 which represents 10% of RMM’s budget for 2006. Thanks to God and the generosity of his people, we received slightly more than the $240,000 goal. Although that provided a tremendous boost, the reality is that it still only represents 10% of RMM’s budget.
Q – What are projections for the remainder of the year?
A – Although projections based on historic trends are prone to inaccuracy, a projection model using the income/expense trends of the previous five years indicates a year ending deficit of $359,000.
Q – Wow. That’s a scary thought. How does the RMM board and administration respond to this?
A – The board and administration have been unanimous in a desire to move ahead in faith believing God has opened doors, provided personnel, and we’re to trust Him to provide the finances. We believe there are ample financial resources available to fund this ministry. Our job is to pray and communicate. Through prayer we’re asking God to release those resources (something only He can do). Through communication, we’re informing people of the opportunity they have to invest in this ministry (something God expects us to do).
Q – What happens if the $359,000 projected deficit becomes a reality?
A – Thankfully RMM won’t have to “close up shop,” but it will cause us to take a hard look at what we can do in the future. A few years ago RMM was experiencing a dearth of applications for long-term mission assignments. In answer to prayer, God has drastically changed this; we now have a significant number of applicants expressing a call to the locations where God is opening doors. The limiting factor at this point appears to be finances.
Q – How can others join in this ministry?
A – First and foremost, we’d love to have people join us in prayer – praying that God will continue to open doors, continue to provide workers for the harvest fields, and anoint the workers so their labors will be fruitful. In addition we encourage prayers inviting God to provide the necessary financial resources. Secondly, people can invest in this ministry by contributing of the financial resources that God has entrusted to them.
Visit RMM’s website to learn more about RMM and how you can invest in the ministry through your prayers and financial support. Financial contributions can be sent to Rosedale Mennonite Missions, 9920 Rosedale Milford-Center Rd., Irwin, OH 43029. e-mail: info@rmmoffice.org.
