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 is in a season of renewal and growth. Our executive staff and Church Council continue to make thoughtful decisions about staffing and expenses to maintain a strong financial foundation. Our move to downtown Loveland reflects our commitment to be in the heart of the community, closer to the people and needs we are called to serve. This location creates new opportunities to build relationships, collaborate with community partners, and put our values of peacemaking, inclusion, and hope into action. Our fiscal year runs from September 1 through August 31, aligning financial planning with the beginning of our fall ministry season.
03
The link above is the Statement of Financial Position for Crossroads at the end of Fiscal Year 2023, 2024, and 2025. 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 & expenses and assets & liabilities. The Statement of Financial Position lists liabilities and assets as of July 31, 2026. The Statement of Activities is presented for July 2026 and September 2025 to July 2026.
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 expected considerable changes during this fiscal year. A new budget for FY 2027 will be presented to members for approval in November 2026.