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MC Canada: 2003-04 financial update

   

June 4, 2003
-by Dan Dyck

Winnipeg, Man.—A recently issued donation report for MC Canada shows that contributions are holding steady at roughly the same levels as last year.

Forecasts anticipated 22.6% of total donation revenue for this time period (Feb 1 – May 31); $886,000, has been received so far, representing 22.7% of a $3.9 million donation income budget. About 75% of MC Canada’s annual income this year is forecast to come directly from congregational and individual giving.

The remaining 25% is received through sales, fees for service, deferred contributions, investments, subsidies, and grants from mission partners.

Expenses remain in line with forecasts for this time period. A complete revenue and expense budget will be presented to delegates at this year’s annual assembly in St. Catharines (July 9-13) together with projected budgets for 2004-2005 and 2005-2006.

MC Canada FYE 2003-04, Feb 1 - May 31 Donation Summary

 
Year to Date Target
Year to Date Actual
Variance
Annual Donation Target
Donation Income
$882,000
$886,000
$4,000
$3,900,000