The King's Connection Magazine Volume 23 Number 1//Summer 2012 | Page 4

FEATURED ARTICLE

WE MADE IT!
by Dr. Harry Fernhout

P

raise God from whom all blessings flow! I’m delighted to
share the news that thanks to the generosity of so many,
and with a large gift received recently, for the first time in several
years, King’s met its budget target of $2.19 million in donation
revenue for the fiscal year (ending March 31)!
This represents a substantial increase over the $1.7 million in
general donations raised during the previous year - a wonderful
and encouraging blessing for which we are grateful to God and
His people.
The overall fiscal results for 2011-2012 will still show a
substantial deficit because student enrolment was lower than
budgeted (and consequently residence, food and other sales
were lower), and because the strategic Advancement initiatives
mandated by the Board resulted in increased expenditures.
However, the strong donation results are an early indication that
these initiatives are already generating positive results. This gives
us much-needed energy and enthusiasm to tackle the significant
challenges before us in the new fiscal year, with a donation
revenue target of $2.6 million.
We savour this good news and thank God for this blessing!

Dr. Harry Fernhout - President

4 ///The King’s Connection /// Summer 2012

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