CITAM Church raised Sh1.6b from tithe in 2021 as income rises to Sh2.5b
| Sep 23, 2022
Christ is the Answer Ministries (CITAM) raised Sh2.53 billion in income for the Financial Year ended December 31, 2021, an increase from Sh1.96 billion the previous year.
The church attributes its improvement to the lifting of COVID-19 restrictions that led to the re-opening of schools, businesses and the relaxation of the ban on social gatherings.
Tithes contributed the largest share of the income at Sh1.57 billion, which accounts for 62.1 per cent of the total income.
The church raised Sh12.1 million from fundraising and donations, Sh6.2 million from rental facilities, Sh26.5 million from interest on investment and Sh9.9 million from departmental works.
The total income generated from the church’s various projects was Sh684 million. Outreach ministries raised Sh220 million.
Its “Together We Can Do More” initiative raised Sh70,000.
The tithe income increased by Sh123 million, from Sh1.45billion in 2020 to Sh1.57 billion in 2021.
The Northern Region assemblies brought in the highest tithe income at Sh915 million.
The Northern Region comprises CITAM head office (Sh110.3 million), CITAM Valley Road (Sh335.3 million), CITAM Woodley (Sh157.9 million), CITAM Thika Road (Sh96.9 million), CITAM Clay City (Sh27.2 million), CITAM Thika Town (Sh47.8 million), CITAM Parklands (Sh54.9 million), CITAM Meru (Sh8.3 million), CITAM Nyeri (Sh11.2 million), CITAM Kikuyu (Sh31.8 million) and CITAM Kiambu Road (Sh33.1 million).
The Northern Region’s high income is followed by the Southern Region (Sh557 million), Western Region (Sh120 million) and International churches (Sh25 million).
CITAM Buruburu, which is classified under the Southern Region, brought in Sh101.3 million, while CITAM Karen raised Sh124.8 million. CITAM Ngong brought in Sh67.5 million.
Other branches under the Southern Region are Athi River (Sh48.2 million), Rongai (Sh30.8 million), Embakasi (Sh43.9 million), Kangundo Road (Sh15.6 million), Kitengela (Sh35.8 million) and Mombasa (Sh22.2 million). The Southern Region’s headquarters brought in Sh67.1 million.
The Western Region comprises CITAM Kisumu (Sh30.5 million), Eldoret (Sh22.1 million), Kapsabet (Sh3.8 million), Nakuru (Sh34 million), Kisii (Sh8.1 million), Naivasha (Sh6.9 million) and the region’s head office (Sh14.4 million).
The International Assemblies are CITAM USA (Sh18.5 million), CITAM Romania (Sh3.7 million) and the assemblies’ head office (Sh3.1 million).
The church spent Sh488.6 million on various expenditures.
CITAM, as of 2021, had a total of 611 staff members, 27 assemblies, seven schools, seven outreach ministries and 22 other units.
Whereas the other variables remained largely the same in 2021 compared to 2020, the number of employees increased by 88, from 523 in 2020 to 611 in 2021.
The administrative expenses increased by 2 per cent, from 23 per cent in 2020 to 25 per cent in 2021.
Interestingly, despite a higher number of employees, the staff expenses in 2021 reduced to 27 per cent compared to 31 per cent in 2020.
The money that went to the savings account as a result of being in excess compared to expenditure, was Sh330.4 million.
However, some of these funds were injected into other projects, reducing the surplus to Sh195.7 million.
According to its financial report, CITAM does not pay tax on income.
“No tax provisions are made in these financial statements. The ministry is exempt from income tax for a period of five years, from November 1, 2019. The tax exemption certificate number is KRAEXM0080030222,” said CITAM.
- Igathe lands new job with Tiger Brands
- What you need to know about Safaricom Bonga points expiry
- Irony of Hustler Fund as State executes budget cuts for supplies
- Facebook still banning Trump, for now, despite campaign
- Allan Kilavuka: KQ has restored 20pc of its daily flight network and 47 flights cancelled
- Avocado nursery stares at losses
- NSSF to appeal court ruling barring rise in deductions to Sh2,000
- Cyber security begins with hiring the right people
- Ndindi Nyoro now KPLC largest individual shareholder
- How Treasury is driving up cooking oil prices
Bamburi profit to drop by at least 25 per cent
BUSINESSBy Macharia Kamau