Magazine article Anglican Journal
Church Reports 2006 Deficit
The national office of the Anglican Church of Canada reported a deficit for the fourth straight year in 2006, but the shortfall, at about $486,000, was less than half the $1.1 million loss recorded in 2005.
Revenue shortfall primarily came from the operations of the Anglican Book Centre, said treasurer Peter Blachford in an interview. The Toronto bookstore reported revenue of $2.46 million and expenses of $2.96 million in. 2006, compared to revenue of $2.89 million and expenses of $3.11 million in 2005.
The church's flagship fundraiser, the Anglican Appeal, fell short of its target.
The bookstore's fortunes changed earlier this year, as Lutheran publisher Augsburg Fortress agreed to manage the outlet--and the financial risk--and pay rent to General Synod. "In 2008, that line will be revenue, period," said Mr. Blachford.
In the annual report presented to the General Synod meeting, income from dioceses--the major portion of revenue for the national office, also called General Synod--was down slightly at $8.71 million, compared to $8.73 million, Total revenue declined to $13.71 million from $14.0 million.
The Anglican Appeal meanwhile, was down to $426,000 from $500,000. …