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Fast Fact: The GAP Fund
Why is there a GAP fund?
Because Word of Life Hungary is facing a budgetary "gap" or deficit over the next few years. It is called the GAP fund because we are looking for partners to "stand in the gap" financially, so we can continue to "Go And Preach" the Gospel as we have done throughout Word of Life Hungary's history.
Why is there a financial gap?
For several reasons. First, the cost of living in Hungary has skyrocketed, and is now the highest of any country in Central Europe. A recent survey ranked the cost of living in Budapest as equal to Chicago, ahead of San Francisco and Munich Germany, and nearly at the same level as Berlin, Los Angeles and Amsterdam. Second, the dollar has lost a significant amount of its traditional value in the past few years. Third, we have had to invest substantial funds in upgrading our facilities to meet higher EU standards. Fourth, the gradual decrease in the number of American missionaries on staff coupled with rising wages for Hungarians has resulted in further financial strain.
Is Word of Life Hungary unique in facing this challenge?
No! The same financial pressures are being faced by virtually every evangelical mission in Hungary. Many are operating in "crisis mode" and a significant number of missions have left Hungary entirely. This financial climate shows no signs of changing in the near future, and it will require greater sacrifices in order to continue impacting Hungary for Christ.
What are we doing about this gap?
We have developed a clear strategic plan that will keep Word of Life Hungary's ministries on at least the present level. Some key elements are: First, we have let go a significant number of staff in salaried positions and put a wage freeze into effect for others. Second, an austerity package is resulting in significant savings in such things as energy, food and purchasing. Third, vehicles and assets not essential to the core of this ministry are being sold. Fourth, American missionaries are raising more support for ministry funds. Hungarians are raising the equivalent of their current gross salary and benefits plus a significant amount to cover their ministry expenses. Their future raises will be dependent in large part on their raising adequate support to cover this.
How can you take part in the GAP fund?
You can send checks to Word of Life Fellowship, Box 600, Schroon Lake, NY 12870. Make the checks payable to Word of Life Fellowship and write WOL Hungary GAP fund in the memo section. You may give a one-time gift to the GAP fund. It does not obligate you to regular support. If you have further questions you can email Alex Konya at akonya@eletszava.org or call Jonathan Parsons at Word of Life Headquarters in the international ministries division, phone number 518-494-6000. Thank you for caring!
Because Word of Life Hungary is facing a budgetary "gap" or deficit over the next few years. It is called the GAP fund because we are looking for partners to "stand in the gap" financially, so we can continue to "Go And Preach" the Gospel as we have done throughout Word of Life Hungary's history.
Why is there a financial gap?
For several reasons. First, the cost of living in Hungary has skyrocketed, and is now the highest of any country in Central Europe. A recent survey ranked the cost of living in Budapest as equal to Chicago, ahead of San Francisco and Munich Germany, and nearly at the same level as Berlin, Los Angeles and Amsterdam. Second, the dollar has lost a significant amount of its traditional value in the past few years. Third, we have had to invest substantial funds in upgrading our facilities to meet higher EU standards. Fourth, the gradual decrease in the number of American missionaries on staff coupled with rising wages for Hungarians has resulted in further financial strain.
Is Word of Life Hungary unique in facing this challenge?
No! The same financial pressures are being faced by virtually every evangelical mission in Hungary. Many are operating in "crisis mode" and a significant number of missions have left Hungary entirely. This financial climate shows no signs of changing in the near future, and it will require greater sacrifices in order to continue impacting Hungary for Christ.
What are we doing about this gap?
We have developed a clear strategic plan that will keep Word of Life Hungary's ministries on at least the present level. Some key elements are: First, we have let go a significant number of staff in salaried positions and put a wage freeze into effect for others. Second, an austerity package is resulting in significant savings in such things as energy, food and purchasing. Third, vehicles and assets not essential to the core of this ministry are being sold. Fourth, American missionaries are raising more support for ministry funds. Hungarians are raising the equivalent of their current gross salary and benefits plus a significant amount to cover their ministry expenses. Their future raises will be dependent in large part on their raising adequate support to cover this.
How can you take part in the GAP fund?
You can send checks to Word of Life Fellowship, Box 600, Schroon Lake, NY 12870. Make the checks payable to Word of Life Fellowship and write WOL Hungary GAP fund in the memo section. You may give a one-time gift to the GAP fund. It does not obligate you to regular support. If you have further questions you can email Alex Konya at akonya@eletszava.org or call Jonathan Parsons at Word of Life Headquarters in the international ministries division, phone number 518-494-6000. Thank you for caring!
