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KTLCC Finance Update
Following the completion of the external audit of the Church’s accounts for the financial year ended 30th September 2020, we are delighted to be able to present a short financial update setting out some of the financial highlights.
Thank you for your faithfulness and generosity in your on-going financial support, particularly during the Covid-19 pandemic, and for adopting the methods of giving that have been available to us during this time. As a result, we are pleased to report that general giving has remained consistently strong throughout the year. Your faithful generosity provides the financial foundation on which KT is able to minister in reaching London and the World for Christ. In addition to general giving, you have generously supported KT’s missions led by our Senior Minister, Sword of the Spirit training, the KT Food Hub, and the Naomi Children’s Fund.
KT tithes on its general income. Just under half of the church’s financial resources are then invested in the ministries of personnel who serve to facilitate the broad array of the church’s ministry activities. Ministers and staff are supported by several hundred very talented and committed members who volunteer thousands of hours in cell ministry, during services, on encounters and in many other ways. Approximately a quarter of the church’s resources are utilised in financing and running the church’s properties, which serve to accommodate and facilitate much of the church’s ministry activities.
Cost reductions were made as soon as lockdown restrictions were introduced, with particular emphasis on travel, events and publications. Overall, the 2019/20 financial year shows a surplus of 1.9%. We give thanks for this remarkable achievement, particularly given the severity of the restrictions that the church has operated under during the second half of the financial year.
Kensington Temple London City Church comprises a network of 26 churches that operate alongside KT across Greater London and beyond. Their accounts are consolidated at KT and they make a very valuable contribution to the finances of the Church as a whole.
Audit, governance and compliance
Kensington Temple is part of the Elim Foursquare Gospel Alliance (Elim), registered charity 251549. Further details, including those of KT’s annual external audit, can be found in the financial update.
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