Rev. Erik Khoobyarian
As I reflect back on 2024, I am reminded of a theme that I’ve tried to share with you all throughout our first year together — shared ministry. Shared ministry means that we walk our individual journeys together, pointing one another to God’s presence in our lives and helping one another see God. This is shared ministry and it is community.
Throughout the year, I’ve tried to point us to the three-legged stool that might guide our life together. First, diving more deeply into scripture. Taking baby steps, or maybe the next steps of discovering this gift from God. Second, exercising our prayer muscles. For many of us, praying may be new, even though our first breath was a prayer, welcoming life-giving
air into our lungs! My prayer for each of us is that our prayer lives would become as natural as that first gasp, and perhaps even our last. The third leg is perhaps the most challenging for many of us — learning to be vulnerable with others. Sharing our journeys, telling our stories, and discovering God in the midst of those stories.
Recently I decided to add a fourth leg to the stool — commitment to service in our community and beyond.
This year we are sharing the annual report in the voices of leaders who guided our programs and ministries. Watch and listen for the four legs of the stool in these reports, for if the reports do not further these objectives, I dare
ask whether they should receive our attention! I’m confident that you’ll see that they do. Point your camera at the QR Code below or visit pinnaclepres.org/annualreport to watch the report. I hope it will inspire you to get more involved at Pinnacle.
Finally, this supplement contains the financial and statistical particulars from the past year. Our financial picture from the 20232024 Fiscal Year is consistent with what I candidly shared with you during our Stewardship Campaign. I’m optimistic for our future, though. We are already moving in the right direction as our pledges for 2025 are significantly increased and we have financial commitments to cover any budget shortfalls. But there remains much work to be done to increase our giving among members and communicating the need in more direct ways. Together with our church leaders, Pastor Mike, and Pastor Leah, I am committed to this work and I see it as part of our continued shared ministry.
Thank you for being on this journey. May God continue to guide and bless our shared ministry in 2025!
In Shared Ministry,
The Rev. Erik Khoobyarian Senior Pastor
Scan QR Code to watch the video report
meSSage FRom the SenioR paStoR
Church Budget & mid-yeaR update
Operating budget for the fiscal year ending June 30, 2025:
Presented below is the budget for the operating fund of the Church for the current fiscal year ending June 30, 2025, along with comparative actual information for the fiscal year ended June 30, 2024, the 2024 annual budget and actual information for the six months ended December 31, 2024. This information is presented on the cash basis of accounting and is being provided as a mid-year update.
In fiscal years 2023 and 2024, the Church’s annual operating budgets reflected significant deficits, largely due to the planned addition of personnel. In prior years, Session designated existing cash to fund these anticipated deficits. In fiscal 2024, the Church incurred an operating deficit of $891,787 versus the budgeted deficit of $552,250. This increase in the budgeted deficit was due primarily to a shortfall in Non-Pledge Offerings. Budgeted Non-Pledge Offerings, which typically constitute about 30% of total revenues, is based on several years of historical trends. In 2024, those trends did not materialize, resulting in a larger than expected deficit.
For 2025, staff and leadership have worked diligently to establish an operating budget that is balanced and achievable. The budgeted expenses are down from the 2024 budgeted and actual expenses. All expenses have been carefully reviewed and, where possible, eliminated or reduced based on prior experience.
Regular Offerings & Contributions have been budgeted at $2,677,649, an increase of $402,649 or 17% over 2024 budget. This increase comprises increases in budgeted Pledge Offerings of $185,000 or 12.5% and in budgeted NonPledge Offerings of $217,649 or 27%. The Congregation has responded with a 20% increase in the pledged amount for the 2025 campaign. With the combined increase in Pledge Offerings and Non-Pledge Offerings, together with Catalyst Commitments for 2025, leadership is confident the Church will be able to provide the funds needed to achieve the Church’s 2025 budget goals. The Catalyst Commitments are not intended to be a long-term solution. The Session is working to provide information to the Congregation about the need for increased revenues.
Fiscal 2025 Personnel expenses are budgeted at a lower level than 2024 budget, but higher than the 2024 actual. Some positions were vacant in 2024, and although the pastoral staff decreased from four to three in March 2024, the resulting decrease in the 2025 budget was offset by the addition of a new Direc tor of Operations position and increases in the hours of other positions.
Property and Equipment expenses are budgeted at $384,740 in fiscal 2025, which is slightly lower than the actual 2024 expenses as fiscal 2024 included some unexpected repairs for the chillers and outdoor lighting. It is anticipated that Property expenses will be higher than budget this year due to additional unbudgeted repairs, primarily due to aging HVAC and irrigation infrastructure.
Operating results for the six months ended December 31, 2024:
At mid-point in the fiscal year, driven by increases in Pledge and Non-Pledge Offerings, Catalyst donations and bequests, the Church’s Regular Offerings & Contributions are exceeding the budget. The number of pledges and the amount per household are trending upward. However, more contributing households at increased levels are needed to reduce the gap between our Regular Offerings & Contributions and our operating expenses.
Personnel costs are running lower than budget due to several unfilled staff positions, including the Children’s Ministry Director, Director of Youth and Young Adult Ministries, and Director of Operations. Searches are underway to fill these and other staff vacancies. Other expense categories are expected to come in on budget for the fiscal year as staff and leadership continues to diligently manage and monitor spending.
RESULTS FOR THE YEAR ENDED JUNE 30, 2024 AND THE SIX MONTHS ENDED DECEMBER 31, 2024 AND BUDGET FOR THE YEAR ENDING JUNE 30, 2025 - OPERATING FUND OF THE CHURCH
YEAR ENDED 6/30/2024
REVENUE & OTHER SUPPORT
Regular Offerings & Contributions
Other Income
Total Revenue & Other Support
EXPENDITURES
Personnel Property & Equipment
Christian Education Administration
Ministry
Total Expenses
Revenue Over (Under) Expenditures
Finance RepoRt
ENDED
FISCAL YEAR ENDING 6/30/2025 $ 2,677,649
Presented below is the condensed, combining statement of activities for Pinnacle Presbyterian Church (Church), Pinnacle Presbyterian Church Foundation (Foundation), and Pinnacle Presbyterian Day School (Preschool) for the fiscal year ended June 30, 2024, and the related condensed, combined statement of financial position as of June 30, 2024. Also presented is comparative information for the fiscal year ended June 30, 2023. This information is presented on the accrual basis of accounting and has been summarized from the annual financial statements reviewed by Baker Tilly US, LLP. The complete financial statements may be viewed in the Church office.
Total Revenue and Other Support decreased in 2024 by $285,047, or 7%, from $3,865,247 in 2023 to $3,580,200. The primary component of this decline is Regular Offerings & Contributions for the Church, which decreased by $584,221 or 22.7% from $2,570,089 in 2023 to $1,985,868 in 2024. While Pledge Offerings remained consistent, Non-Pledge Offerings and other contributions account for the decrease. As noted above, in fiscal 2024, the historical Non-Pledge Offerings trend did not materialize, resulting in a larger than expected deficit. This decrease was partially offset by increases in the Preschool’s revenues of $101,984 and the Foundation’s income from investments and contributions of $100,109.
In fiscal 2024, Total Expenses increased by $677,066, or 16%, due largely to increases in the Church’s personnel costs, as several key staff positions were filled, including the addition of a new pastor.
Cash, Cash Equivalents & Certificates of Deposit decreased significantly in 2024 as the Church used cash designated by Session in prior years to cover anticipated operating deficits incurred in 2023 and 2024. In addition, in fiscal 2024, the Preschool spent funds received in prior years under the Child Care Stabilization Grant, as required under the terms of the grant. Session has continued to closely monitor the Church’s expenses as well as its cash requirements to ensure it has sufficient cash to meet donor commitments and operating needs.
jameS lipScomb, tReaSuReR
PINNACLE PRESBYTERIAN CHURCH, PINNACLE PRESBYTERIAN CHURCH FOUNDATION AND PINNACLE PRESBYTERIAN DAY SCHOOL COMBINING STATEMENTS OF ACTIVITIES (CONDENSED)
YEARS ENDED JUNE 30, 2024 AND 2023
REVENUE & OTHER SUPPORT
Regular Offerings & Contributions
Investment Income (Loss)
Preschool Tuition, Extended Day Classes, net of discounts
Other Income
TOTAL REVENUE AND OTHER SUPPORT
EXPENSES
Program Services
General and Administrative Services
Fundraising Services
TOTAL EXPENSES
CHANGE IN NET ASSETS
NET ASSETS AT BEGINNING OF YEAR
NET ASSETS AT END OF YEAR
3,850,563 1,060,126
4,923,523 (1,343,323) 10,691,913 $9,348,590
2023 Combined $2,749,175 89,134 812,602 214,336 3,865,247 3,588,082 648,624 9,751 4,246,457 (3,067,856) 11,073,123 $10,691,913 Combined $2,253,444
PINNACLE PRESBYTERIAN CHURCH, PINNACLE PRESBYTERIAN CHURCH FOUNDATION AND PINNACLE PRESBYTERIAN DAY SCHOOL COMBINED STATEMENTS OF FINANCIAL POSITION (CONDENSED)
JUNE 30, 2024 AND 2023
ASSETS
Current Assets Cash, Cash Equivalents & Certificates of Deposit Other Assets
Total Current Assets
Other Assets
Certificates of Deposit Other Noncurrent Assets
Investments
Property & Equipment, net
Total Other Assets
TOTAL ASSETS
LIABILITIES AND NET ASSETS
Total Liabilities
Net Assets Without donor restrictions: Undesignated Session Designated
Total Net Assets Without Donor Restrictions With Donor Restrictions
TOTAL NET ASSETS
TOTAL LIABILITIES & NET ASSETS
2024
$277,590 544,586 822,176206,053 1,390,245 7,080,092 8,676,390 $9,498,566 $149,976 7,354,561 389,335 7,743,896 1,604,694 9,348,590 $9,498,566
2023 $1,577,168 107,413 1,684,581 427,647 177,279 1,115,180 7,442,522 9,162,628 $10,847,209 $155,296 8,663,055 536,949 9,200,004 1,491,909 10,691,913 $10,847,209
Statistical Review
Clerk of Session Report
by Mark Leinweber, Clerk
2024 CONGREGATIONAL STATISTICAL REVIEW
Attendance Results Variance 2023-2024 2023 2024
First Qtr. 4760 7158
Second Qtr. 4870 4399
Third Qtr. 3026 3456
Fourth Qtr. 6650 7042
Attendance at special services Palm Sunday 530 Easter 1107 Christmas Eve 1259
Attendance numbers shown are in person only and does not include an average of 192 online viewers per week.
2025 COMMUNION DATES
Weekly during the 8 am service
January 12 (Baptism of the Lord)
March 2 (Transfiguration Sunday)
April 17 (Maundy Thursday)
April 20 (Easter, 8 am)
June 8 (Pentecost)
August 3 (Summer Communion)
October 5 (World Communion)
November 23 (Reign of Christ)
December 24 (Christmas Eve, 3 & 10 pm)
March 5 (Ash Wednesday) (subject to change)
Pinnacle leadeRShip & StaFF
SESSION
Class of 2024
Phil Branson
Joe Kaiser
Roselyn O'Connell
Jacque Olmert
Michelle Rogers
Jacque Olmert | President
Chapin Bell | Vice President
Class of 2024
Craig Bainbridge
Sandy Bainbridge
Debbie Bender
Kathe Drake
Sunny Edwards
Tim Erion
Brooke Harper
Jane Linville
David Mulumba
Kim Schaller
Robert Slegers
Class of 2025
Chapin Bell
Chuck Goldthwaite
David LeMoine
Susan Matura
Michele White
CORPORATE OFFICERS
DEACONS
Class of 2025
Carol Baker
Linda Bobier
Kaaren Gotwals
Robert Gotwals
Tiffany Hart
Marge Hasslinger
decembeR 31, 2024
Class of 2026
Peg Boutchia
Joan Fudala
Patty Jensen
Tom M. Oyan*
David Sobek
James Lipscomb | Treasurer
Mark Leinweber | Secretary & Clerk of Session
Cathy Horrell
Laurie Jones
Christine Kilbridge
Mary Kuenstler
Marsha Zandbergen
STAFF
Rev. Erik Khoobyarian | Senior Pastor
Rev. Dr. Michael Hegeman | Associate Pastor
Rev. Leah Quarles | Associate Pastor
Sabrina Ball | Director of the Preschool
Class of 2026
Carol Davis
Anne Foley
Melissa Jones
Shelly McCahan
Julia Mitchell
Diana MulumbaLubandi
Lisa Boswell | Executive Assistant To The Senior Pastor
Jennifer Brown | Executive Assistant & Campus Coordinator
Wendy Castillo | Maintenance
Samantha Jorgensen | Director of Children & Youth Music, & Handbell Ensembles
Dr. Ilona Kubiaczyk-Adler | Director of Ministries In Music & Arts / Organist
Jonathan Lang | Accompanist & Choir Assistant
John Lutz | Video Production Lead
Kelly McGinn | Director of Adult Programming
Suzanne Mitchell | Communications Associate
Shirley Norris | Director of Communications
Lea Reinke | Business Administrator
Patrick Rice | Organ Scholar
Jim Shaw | Maintenance
Dawn Sheaffer | Administrative Assistant
Jonathon Sheldon | Audio Production Lead aS
Elaine Napolitan
Bunnie Richie
Carlton Richie
Renee Schenck
Christie Slegers
pinnaclepReS.oRg
To inspire our world with the love of Jesus.