MC Canada reports $200,000 deficit
by Dick Benner of the Canadian MennonitePrint Article Email to a Friend
Mennonite Church Canada wasn't spared the pain of the economic downturn when it reported a nearly $200,000 deficit to delegates at its June 5 session in Saskatoon.
Driving the loss mostly was a drop of some $456,920 in revenues, due primarily to fewer grants from partner agencies for shared ministry with such partners as Mennonite Mission Network, said Randy Wiebe, MC Canada’s chief financial officer.
"As the two national church bodies [MC Canada/Mennonite Church USA] grow further apart in what have been joint projects, the fewer contributions MC Canada can count on," he said.
The heavier MMN losses on the U.S. side contributed inadvertently to the Canadian contribution level, Wiebe said, making it difficult to prepare for the losses.
Taking a hit, too, was investment income, with nearly $60,000 less coming into the coffers.
Other shortfalls were made up with transfers from various funds, said Wiebe.
Staff expenses generally held the line, with one exception—that of a nearly doubled cost of the 2008 annual assembly and MC Canada-Mennonite Church USA joint event in Winnipeg, compared to the 2007 event. The longer four-day event in 2008, to which far fewer Mennonite Church USA representatives came—contributed to a $56,010 spending increase for Support Services.
Wiebe emphasized that no staff were terminated to make up for the deficit, but the filling of some vacant staff positions has been indefinitely postponed. He said the downturn was "sudden and unexpected," not something to which the national organization has been accustomed.
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I am responding to the article written by Editor Benner in the June 22, 2009 issue of the Canadian Mennonite entitled "MC Canada reports a $200,000 deficit." Since I am the main source of information for this article I would like to correct certain points. The article makes an incorrect inference about MC Canada's current deficit when it states that it is: " ... due primarily to fewer grants from partner agencies for shared ministry with such partners as Mennonite Mission Network (MMN)." Mennonite Mission Network forwarded the full amount of their commitment to MC Canada for fiscal year 2008-09 and in no way contributed to our deficit. On a year-over-year comparison, grants to and from MC Canada Witness and MMN have decreased, but these reductions have been fully negotiated and budgeted for as part of our joint planning for shared ministries. I noted in both my Assembly presentation and printed report, that MC Canada's deficit was the result of reductions in donation and bequest revenue totaling $157,711 and an investment loss of 8.9% totaling approximately $98,324. These factors, partially offset by some late year under-expenditures, resulted in the deficit. We are also not aware that "the heavier MMN losses on the U.S. side contributed inadvertently to the Canadian contribution level," as indicated in the article. Until the end of October 2008 MC Canada's donation revenue was ahead of projections. The sudden drop in the last months of the year coupled with investment income losses presented some difficulties. However, the financial situation was well monitored and controlled by last minute efforts to reduce expenditures at year end. --Randy Wiebe Director of Finance Mennonite Church Canada