Thank you so much for your continued prayers and support to create and sustain 100K jobs in the next 10 years by building kingdom businesses globally. Though the pandemic has made our goal more challenging to achieve, it has also made it more urgent. Your support is helping us stay on the offensive to provide entrepreneurs with the relevant training, coaching, and financing they need to minimize their losses and position themselves to defeat this pandemic.
We recently held our second quarter staff retreat and board meeting. Here is a summary of what I shared with our board and staff concerning our mid-year financial performance. Although we are behind projection in our revenue against budget, we did better than last year at the same period and our net profit is 17% which is 7% higher than the goal of 10%. Also, our earned revenue is 41% which is 1% higher than our goal of 40%. And, our E-Community membership goal has already been met for the entire year. As you can imagine, we are very pleased with our overall performance for the year so far, especially our earned revenue which makes us less dependent on contributions.
My impact story this month is the opening of our first full-service E-Community Center in Orlando, Florida. Special thanks to our North America Director, Wendie Klem, board member Yanet Herrero, and her husband Arnaldo Herrero, building owners Dean and Jane Blankenship and René and Lorena Villar, and you – our charitable investors. Without your support, this would not have been possible.
This full-service center provides membership, business training, and a support facility for entrepreneurs who desire to build transformational companies within a shared-value global community. Based on the membership level, members will receive access to discounted cost for entrepreneurship training and coaching, business development, co-working spaces, business support, conference/meeting rooms, a prayer room, access to capital, an administrative office, and a resource center.
Membership also includes access to our global community through a user-friendly, robust online platform as well as access to other centers around the world.
We praise God for all He is doing through us around the world and we look forward to what He will do in the upcoming quarter. Finally, we are excited to be hosting the first historic digital Nehemiah Week. We currently have over 100 registrations and anticipate more in the coming days. The week begins with a Virtual Kingdom Business Tour of businesses from five regions of the world, followed by a three-day conference on best business practices on the topic of Business Expansion Through Strategy. Then, participants will experience two Kingdom business pitches. One will be at the Investors Forum with two entrepreneurs from France and Kenya looking to raise capital to expand their business. The second pitch will take place at the International Business Plan Competition where we will have contenders from Canada, Malaysia, Mexico, and Kenya competing for the 2020 International Business Plan prize. We will conclude the week with a State of the Ministry event where we will showcase the impact we’ve had this year around the world and hear an inspirational education talk from Jeff Grubs, Trustee of the Murdock Charitable Trust, on Why Faith-based Entrepreneurship is Necessary in an Economic Crisis.
If you have not yet registered for Nehemiah Week, it’s not too late. Click on the button below to register for the entire week at 50% off the registration fee or to sign up for the State of the Ministry event at no cost.
Continue to keep us in your prayers as we await a response on a technology grant we submitted to the Murdock Charitable Trust. As well, please keep us in prayer as we continue to develop a sales team to drive up our earned revenue.
Serving you with Love,
Patrice Tsague, Chief Servant Officer