LCG Publishes Financial Statements

COGwriter in Philadelphia in Asia Minor

In the July-August edition of its Living Church News, the Living Church of God published its audited financial statements for 2010. LCG reported that its income was up over 5% which seems very good considering the state of the USA economy.

LCG is apparently the second largest of the COG groups that once had their origins in the old WCG. UCG is the largest. And COGWA seems to be the third largest.

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.

The groups have differing objectives and priorities (as well as prophetic and other doctrinal differences).

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

Now, UCG’s fiscal year is not a calendar year, so there is only partial overlap of the periods. For its last published financial statement, for its fiscal year ending 6/30/10, UCG reported a gross income of $23,870,107. It spent 5,368,289 (down from 5,649,925 the prior year) for ‘public proclamation’ (22.49%); it spent 4,992,351 (up from 4,223,249 the prior year) for managing its meetings and ‘home office’ (20.92%); and 13,420,477 (down from 14,072,730 the prior year) for the field ministry/local churches/FOT/International support (56.22%), and increased reserves by 88,990 (down from 789,795 the prior year) (0.37%). For its fiscal year ending 12/31/10, LCG grossed 14,341,826 and spent 5,989,084 on public proclamation, 907,340 on HQ administration, 6,907,314 to ‘feed the flock’ (including Living University) and increased reserves by 538,087.

If you gave $100.00 to the United Church of God or the Living Church of God for those most recent periods to compare, here is where your money went:

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

1st Commission to Proclaim the Gospel to the World....$22.94........$41.76
2nd Commission to Feed the Flock (and Field Ministry)..56.22.........48.16
Headquarters/Home Office...............................20.92..........6.33
Change in Reserves......................................0.37..........3.75
Total................................................$100.00.......$100.00

Jesus taught:

For where your treasure is, there your heart will be also (Mattew 6:21).

I went with LCG because of Gospel proclamation emphasis and biblical church governance. It is interesting that UCG spent almost 3 times as high a percentage on governance than LCG does (and over 5 times as much in actual cash, UCG spent $4,992,351 vs. LCG’s 907,340).

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

With about half the income and membership (for the periods reported on), LCG spends more in actual cash as UCG does to proclaim the Gospel. LCG also still reaches many times as many people over television than UCG does. LCG also produces more magazines (Tomorrow’s World vs. Good News) on a per member basis than UCG does.

Because of the COGWA split, UCG has had a tough year, and in a few months we should see more of what happened to its finances.

“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.
Concerns about Church of God, a Worldwide Association This is a large breakaway group from the United Church of God. It officially formed in December 2010. Former UCG President Clyde Kilough is part of it.
Polycarp, Herbert W. Armstrong, and Roderick C. Meredith on Church Government What form of governance did the early church have? Which form of governance would one expect to have in the Philadelphia remnant? The people decide and/or committee forms, odd dictatorships, or the same type that the Philadelphia era itself had?
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.
The Laodicean Church Era was predominant circa 1986 A.D. to present. Non-Philadelphians who mainly descended from the old WCG.