CWM financial update: A strong start to 2025

Good news! It’s always great to start a new year with a healthy financial position!

The draft financials for CWM in 2024 show that assets have grown to $713,371, a 22% increase over the previous year. This includes our investments with CIBC Wood Gundy, which now total $573,366, having earned over 15% this past year. To maximize returns, we will continue investing as much of our CIBC operating account ($140,005) as possible. The current balance is higher than normal due to accounts payable of $58,039 (to Hills of Peace, Samish, and World Mission Tithes) that will be paid after year-end.

Our net budget result was positive, with revenues exceeding expenditures by $54,340 in 2024. Total revenues reached $250,756, 11% above budget, driven by investment returns and individual contributions, though congregational support was 5% below budget. Total expenditures were $196,416, aligning closely with our budgeted amount of $197,100.

Programming expenditures increased to $96,868, reflecting expanded offerings in 2024. Registrations achieved a cost recovery rate of 86%, a notable improvement over 2023. Both the growth in programming and the higher cost recovery indicate positive progress as we continue to rebuild from the lower activity levels during the pandemic.

A special note: Youth Subsidy budgets for Youth Camping were not fully used in 2024. Encouraging greater youth participation at Spectacular or summer camps in 2025 will be a key way to utilize these funds.

A more detailed financial update was presented at the CWM Special Conference in January 2025. This report provides a summary for those who could not attend. A full audited financial report will be prepared for the Fall 2025 CWM Conference.

If you have any questions, please feel free to contact me directly.

Respectfully submitted,
Sam Smalldon
Mission Centre Financial Officer (MCFO), CWM
📧 sam@communityofchrist.ca
📞 403-586-2702