Financial Transparency and Donating
At Crossroads we strive to be good stewards of the financial resources provided by the congregation and income from other sources. This includes being transparent about the financial picture for Crossroads. This page hopes to provide that transparency. If you have any questions concerning church finances, please email our Executive Pastor, Jimmy Scruggs.
01
The 2025 Annual Ministry Celebration & membership meeting took place on November 16, 2025. During that meeting the above report was presented to members.
02
Changes in Recent Years
Crossroads has experienced change in light of the coronavirus pandemic like many churches and businesses. This includes a decrease in attendance and giving. The leadership of Crossroads, including executive staff and the church council have made significant decisions regarding expenses, including staffing, to offset this change in income. The Fiscal Year (FY) for Crossroads is September 1 to August 31. This is a change from previous years where the FY was October 1 to September 30. This change was made so that the FY would align with ministry planning that begins with students returning to schools and congregant vacations ending as Crossroads increases ministry work in September.
03
The link above is the Statement of Financial Position for Crossroads at the end of Fiscal Year 2023, 2024, and 2025. As of the reporting of financial information at the end of August 31 2025, it is important in understanding the Financial Position to know that the church had debt in the form of a $5.3 million mortgage and a $200,000 short-term loan that was taken out as part of the Daring Faith capital campaign from 2018. Those debts were paid off with the sale of unused land to Loveland Housing Authority in June 2023. This sale is reflected in those financial statements that are published below. The church has only debt in terms of deferred retirement contributions for the Lead Pastor The church over the last couple of years has eliminated credit card debt, and moved to having only one credit card account. The credit card is paid off each month and no interest accrues. Additionally, the church is up to date on all accounts payable. The Statement of Financial Position reflects the state of payables and credit card balances at the end of a given period, but these balances are always paid on time in the next month.
04
The Statement of Activities linked above shows the income and expenses for Crossroads. The document provides those activities for Fiscal Years 2023, 2024, and 2025. In response to decreases in income, Crossroads has reduced the amount of church staff payroll by 25.6% since the start of the pandemic. In an effort to increase revenue, Crossroads has embarked on new ventures with the Early Adventures Daycare and Preschool and Advneture Camp programs. For Fiscal Year 2022, there was an investment of $150k into opening the Early Adventures Daycare and Preschool. It is also important to note that depreciation and amortization expense is recorded at the end of each Fiscal Year.
05
Each month Financial Statements are provided to the church council that show income and expenses compared to budget. The Statement of Financial Position lists liabilities and assets as of January 31, 2026. The Statement of Activities is presented for January 2026 and September 2025 to January 2026. Changes in giving patterns at the end of 2025 have pushed the church behind its revenue budget and staff and the council are looking at alternatives.
06
The budget that was approved by the Church Council and presented to members for affirmation on November 16, 2025 is linked above. This is a 6 month budget as the church expects considerable changes during this fiscal year.