Christ is The Answer Ministry (CITAM) recorded an increase in the total income from Ksh1.96 billion in 2020 to Ksh2.53 billion in 2021 as of December 31.
According to the financial report from the pentecostal church, the increase resulted from the relaxed pandemic restrictions by the government.
“Total income for the year 2021 increased by 29 per cent to Ksh2.53 billion up from Ksh1.96 billion.
This was attributable to the gradual lifting of the pandemic restrictions that resulted in the re-opening of learning institutions, the revival of businesses, and relaxation of the ban on social gatherings,” read part of the report.
Notably, the recorded income is from all the churches located across the country with the main church being located in Valley Road Nairobi.
From the record, tithes and offerings contributed to Ksh1.57 billion from Ksh1.45 billion in 2020, being the largest percentage of the total income.
“Outreach ministries’ income increased by three per cent to Ksh220 million up from Ksh213 million in 2020.
“This was mainly due to inter-unit sales from CITAM Broadcasting Service (CBS) program offered by Hope Media.
“There was increased grant income for special projects,” the report read on.
Its branches that contributed the highest amount of money were Citam Valley Road, Citam Woodley, Citam head office, and Citam Thika Road at Ksh335.3 million, Ksh335.3 million, Ksh110.3 million, Ksh157.9 million and 96.9 million respectively.
Expenditures accounted for Ksh488.6 million of the total income raised.
The church has many other branches spread across the country and in the US and Romania. It also runs schools and other business ventures.
Based on the report, the church does not make tax payments, similar to other religious bodies.
“No tax provisions are made in these financial statements. The ministry is exempt from income for a period of 5 years from November 1, 2019,” the report stated.
Source: kENYANS.CO.KE
