(Brooke’s generosity Blog)
February 2, 2020

Thank You! Well done you generous people!

Year-end financial results are in. Full details will follow before the annual meeting on February 23rd.

There is encouraging news. First, we ended the year with a modest deficit of $16,961. While we hoped to have a balanced budget, a modest deficit was expected. 2019 was a challenging year for finances.

Session worked diligently prior to the 2018 AGM on March 24, 2019. Tough decisions were required. With reluctance there were staff reductions, reductions in expenses and a “2019 Special Appeal” to address a surprising deficit from 2018 and to address the cash flow issue.

The congregation responded with generosity. Thank you.

Some features of note:

  • Property Debt Reduced:
    • The principle of our mortgage was reduced by $105,278.
    • Brightening Our Future campaign paid down by $211,474 the loan part of our mortgage.
    • The net result is a total reduction in property debt of $316,752.
  • Operating deficit of $16,971.
  • Our net balance sheet will show a substantial increase in assets as a result of lower debt.

Other matters to note:

  • Reductions in staff costs saved Knox $45,868 over the last 10 months of 2019.
  • The saving in staff costs will continue into 2020 and 2021.

We are truly blessed. Knox followed the Transition Plan and called a new lead minister this summer. On July 14th Rev. Hugh Donnelly preached for the call and was enthusiastically received. Hugh brings energy, vitality, a wonderful sense of humour, and wisdom to Knox leadership. Linda and I enjoy working with Hugh as our lead.

In January 1, 2020 we joyfully welcomed Mary-Catherine Pazzano as Music Director/Organist and Carole Clyde-Ellis as Faith Formation Coordinator. These key positions are part of a once in a generation renewal of ministry at Knox Waterloo.

In March and April, the “2019 Special Appeal” was generously supported. An immediate infusion of financial gifts for cash flow and deficit reduction was needed. An amazing outpouring of generosity happened. This was a necessary part of our financial turnaround.

$103,551 was received from 65 donors in five weeks. I really wanted to write each one a note of thanks. Unfortunately, this was not possible due to my medical leave prior to hip surgery. Today I say; Thank you to you 65 gift givers, individuals and families, who made a choice to make a difference.

I am humbled and deeply grateful for all your generosity. This community is so special. Thank you.