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2008-12-16 issue:

MCC braces for coming economic storm

Mennonite Central Committee’s international program faces budget shortfall.

by Mennonite Central Committee

Print Article

Mennonite Central Committee (MCC) is preparing for leaner times but remains optimistic that a faithful constituency and diverse sources of income will lessen the impact of the economic downturn.

In Canada, MCC is anticipating that income from donations, designated giving, thrift shops, MCC’s account in the Canadian Foodgrains Bank and government grants will make it possible for MCC to meet financial commitments approved in its 2008-2009 financial plan.

In the United States, executive director Rolando Santiago projects an overall budget shortfall of approximately 5 percent.

MCC’s international program is currently facing a budget shortfall, says Jerry Shank, interim director for these programs. There are three main reasons: the declining value of the Canadian currency; decreased income from investments and the possibility of a decline in giving as is happening at many other charities. MCC has a rainy-day fund to help cover unexpected expenses or a sudden drop in income. A portion of this fund will be used to cover the initial budget shortfall. However, further reductions may be required in the new year if contributions to MCC are lower than anticipated, says Shank.