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Dan Nigh-
swander |
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By the time you receive this letter, the Program Planning Committee will have
met to focus plans for next year's assembly - St. Catharines, Ontario, July 9-12,
2003. In preparation for this meeting we have reviewed the evaluations of last
year's assembly - collated into 30 pages! I noted that the most common concern
identified in the evaluations, as well as on the floor, was the financial situation
at Mennonite Publishing House (MPH). Since July the Canadian Mennonite has continued
to keep you informed about MPH developments. I want to share a few current items
with you.
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The Joint Executive Committee (JEC) engaged the services of Norman Shenk,
a senior financial executive (Eastern Mennonite Missions, MCC, Choice Books, etc.)
with a reputation for cautious and careful analysis, to review MPH's viability.
Norman has now submitted his final report, including this summary statement: "After
carefully reviewing the financial data and noting the commitment expressed by
the Constituency Leadership Council [US conference leaders] indicating a readiness
to consider a "barn raising" contributions goal of $5 million dollars,
it would seem to me that the continuation of this publishing ministry is a viable
option." The report contains good advice on how the viability can be maintained.
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Phil Bontrager was appointed interim (4 - 6 months) CEO in August. In his
report to the US Executive Board and Canadian General Board in September he wrote,
"Recent financial performance demonstrates substantial improvement. Through
August 2002, the operations have yielded a surplus of more than $75,000 [US],
an improvement of approximately $500,000 [US] compared to the same period last
year. All payments to suppliers and other obligations are current."
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An anonymous lender has come forward with a one-year loan of $2.3 million
(US) to be used to consolidate unsecured debenture loans. This will reduce the
interest payments and address securities issues introduced by the debentures.
It is, however, only a one-year loan and its repayment depends upon the success
of the fund-raising drive.
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The Publishing Transformation Team has prepared a report which it will present
to the Joint Executive Committee on October 19, 2002. The proposal incorporates
the best of the past and current publishing ministry and points to new, creative
possibilities for the future. Details will be released after the JEC has received
the report.
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A substantial infusion of donated funds will be necessary to make possible
a renewed vision for our publishing ministry. You have received mailings to introduce
the campaign, Barn Raising: A Strong Foundation for a Solid Future.
In sum, the update on MPH provides grounds for cautious optimism-cautious because
it still depends on the generous response of the church to the Barn Raising drive,
and optimistic because the evidence shows that the publishing ministry can become
viable and can address the needs of the church for published resources.
Thank you for your prayerful interest in the challenges facing MPH and your
encouragement to (a) clean up the obligations of the past and (b) set a direction
for the future in which published resources contribute to the formation of our
people and our witness "across the street and around the world." We
will continue to report on our progress toward these two goals.
Sincerely,
Dan Nighswander
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