LCG Publishes Financial Statements

My Wife Joyce Posing at the Current TW Television Studio 01/08

The Living Church News arrived last night and contained the audited financial statements for the Living Church of God.

The statements show that LCG’s income was up 6.9% in 2007.

As many have asked me about how LCG differs from UCG, a comparison of how they spend their income, in my view, helps answer a lot of questions.

Brief Financial Comparison of US Income (Both Based on Audited Statements)

For its fiscal year ending 6/30/06 UCG grossed $21,907,466. It spent 4,334,081 (19.8%) for ‘public proclamation’; it spent 3,994,978 for managing its meetings and ‘home office’ (18.2%); and 12,507,427 (57.1%) for the field ministry/local churches/FOT/International support, and increased reserves by 1,070,980. For its fiscal year ending 12/31/07 LCG grossed 11,887,020 and spent 5,446,269 on public proclamation, 823,910 on HQ administration, 5,452,938 to ‘feed the flock’ and increased reserves by 163,903.

If you gave $100.00 to the United Church of God or the Living Church of God, here is where your money went:

.......................................United Church of God....Living Church of God

1st Commission to Proclaim the Gospel to the World....$19.78........$45.82
2nd Commission to Feed the Flock (and Field Ministry)..57.09.........45.87
Headquarters/Home Office...............................18.24..........6.92
Change in Reserves......................................4.89..........1.39
Total................................................$100.00.......$100.00

LCG announced that the surplus was used for a down payment for a new television studio needed to comply with new federal television requirements that go into effect in 2009.

I went with LCG because of Gospel and governance. It is interesting that UCG spent almost 3 times as high a percentage on governance than LCG does (and almost 5 times as much in actual cash, UCG spent $3,994,978 vs. LCG’s 823,910).

Which form of governance is more cost-effective? Which form places the higher priority on proclaiming the Gospel?

With half the income, LCG spends more in actual cash than UCG does to proclaim the Gospel. LCG also produces nearly twice the number of magazines (Tomorrow’s World vs. Good News) on a per member basis than UCG does. “He who has ears to hear, let him hear.”

Some articles of related interest may include:

There are Many COGs: Why Support the Living Church of God? This is an article for those who wish to easily sort out the different COGs. It really should be a MUST READ for current and former WCG members or any interested in supporting the faithful church. It also explains a lot of what the COGs are all about.
Differences between the Living Church of God and United Church of God This article provides quotes information from the two largest groups which had their origins in WCG as well as commentary.
Should the Church Still Try to Place its Top Priority on Proclaiming the Gospel or Did Herbert W. Armstrong Change that Priority for the Work? Some say the Church should mainly feed the flock now as that is what Herbert W. Armstrong reportedly said. Is that what he said? Is that what the Bible says? What did Paul and Herbert W. Armstrong expect from evangelists?
The Philadelphia Church Era was predominant circa 1933 A.D. to 1986 A.D. The old Radio Church of God and old Worldwide Church of God, now basically the Living Church of God.