Audited Financial Statements

Years ended August 31, 2022, and 2021


Balance Sheet

    As of 8/31/2022     As of 8/31/2021
Operating Cash $ 1,212,000   $ 2,300,000
Cash Reserves   957,000     976,000
Other Assets   133,000     41,000
ERC Receivable   852,000     -
Endowment and Trust Assets   390,000     475,000
Land, Buildings and Equipment (net)   17,664,000     18,180,000
Total Assets  $ 21,208,000    $ 21,972,000
Current Liabilities $ 626,000   $ 444,000
Mortgage Payable   2,986,000     3,144,000
Annuity and Trust Obligations   31,000     40,000
Total Liabilities  $ 3,643,000    $ 3,628,000
Net Assets
Without Donor Restrictions $ 16,283,000   $ 16,571,000
With Donor Restrictions   1,282,000     1,773,000
Total Net Assets  $ 17,565,000    $ 18,344,000
Total Liabilities and Net Assets  $ 21,208,000    $ 21,972,000

Statements of Activities

    12 Months Ended 8/31/2022     12 Months Ended 8/31/2021
General Fund Contributions $ 6,600,000   $ 6,329,000
Other Contributions and Grants   1,185,000     2,226,000
PPP/ERC Income   1,234,000     1,180,000
Program and Other Income   309,000     256,000
Total Revenue  $ 9,328,000    $ 9,991,000
Salaries, Benefits, and Taxes $ 4,700,000   $ 4,166,000
International Staff & Agency Support   1,329,000     1,199,000
Ministry Expenses   908,000     768,000
Campus Operations   1,678,000     1,425,000
Depreciation   899,000     921,000
Administration   475,000     425,000
Interest   118,000     125,000
TOTAL EXPENSES  $  10,107,000    $ 9,029,000
Change in Net Assets  $ (779,000)    $ (962,000)

Other Contributions & Income

    Other Contributions     Program & Other Income
Debt Reduction $ 45,000   $ -
Administration & Finance
Admin & Finance - Misc   3,000     (38,000)
Rental Income   -     64,000
CDLA Radio Ministries   37,000     -
Family Ministries   61,000     77,000
Preschool (Imago Dei)   -     70,000
Worship & the Arts   116,000     -
Adult Ministries
Adult Classes   64,000     37,000
Adult Ministries - Misc   50,000     84,000
Outreach Ministries
Adult Class Outreach   295,000     -
Outreach Ministries - Other   321,000     15,000
Benevolence   193,000     -
Total  $ 1,185,000   $ 309,000

Membership & Baptism

September 1, 2021 - August 31, 2022

Total Membership at Start of Period 4,266
LAC New Members 30
Comunidad de las Américas New Members 2
Total Additions 32
LAC Deceased 35
LAC Transfers 42
Total Deletions 77
Total Memberships at End Period 4,221

Summer Congregational Meeting

August 28, 2022, at 11:00 AM

Download the Summer Meeting Packet

Congregational Meeting Leadership Election Update

Dear LAC Family,

On Sunday, the Summer Congregational Meeting was held to welcome new members and approve the ministry plan and budget for the 2022-2023 ministry year. If you missed the meeting, a recording can be watched at An election was held to vote in new leaders to serve on the church’s Ministry Council and ministry divisions. 258 ballots were collected and 218 ballots affirmed the elected leadership slate as presented by the 2022 Nominating Committee. As new leaders prepare to start their term on October 1, we want to be praying for them. Nominating Committee member, Alan Tussy, shares the following prayer over the coming ministry year with the church family:

Heavenly Father,

We come to You in a spirit of praise and adoration for all you have done over the 125 year-history of Lake Avenue Church. Today, we lift up to You the leaders that will help to write the first chapter in the next edition of Lake’s history under the guidance of our new senior pastor Mathew P. John.

How grateful we are for the servant’s heart that you have given each of these people. Like the prophet Isaiah, when they were asked to serve in a position of church leadership, each and every one replied, “Here I am Lord, send me.”

We humbly ask, that in the next few weeks, You quickly bring these new leaders and those in the middle of their terms together in a spirit of unity. As the four divisions and Ministry Council move forward, please bring to their remembrance Bible stories and Biblical truths that will serve as the bedrock foundation for their decisions. May it be that each program, plan, and activity that they develop (in its own way) glorifies You and spreads the Gospel message.

And Father, we pray for protection. Protection against spiritual forces who will try to create obstacles for the growth of our church. Protection of our leader’s study and prayer time. And protection for their marriages and family relationships. May they not be distracted, discouraged or doubtful but instead excel using the spiritual gifts that you have given each one. Give them the tenacity to maintain the path You have already cleared for them and the “where with all” to be absorbed in the work You have laid before them.

Lord, we pray that You would send a spirit of encouragement to this entire leadership group so that they might walk in a manner worthy of the calling; Lead them to proceed with all humility, gentleness, patience, and Christian love.

And finally, Father, You have blessed these people with outstanding administrative and leadership skills. But our church also needs them to shepherd the flock. Please grant them the time, energy, and insight to do just that.

In the name of our Lord and Savior Jesus, we pray.


Special Congregational Meeting


January 9, 2022, at 11:00 AM