Some of you have asked about James Bay United Church’s financial situation, and how we are managing without our usual income from the Thrift Shop and rentals of our space. Obviously these are major sources of income and so we are using our savings and are immensely grateful for the federal government wage subsidy. We are vulnerable because the wage subsidy will definitely end at the end of August, and we do not yet know the criteria for July and August. Nor do we know how soon we will be able to re-open the church and its activities. We do know that we want to continue our activities on-line and the ways we are present in the James Bay Community. Naturally we intend to pay our staff, and we want to be able to pay our insurance when it comes due with a 30-40% increase that we’ve been informed is coming.
So what can you do? Most of you are continuing your weekly givings which is most important. Some of you have experienced extra expenses from the COVID pandemic which has meant and continues to mean you have had to cut back your spending and your giving. That is expected and respectfully honored. Some of you have increased your givings to the church because you have not been spending as much during the isolation period. Some of you as seniors will soon get a $300 payment from the federal government to help cover your extra expenses. That may be critical income for some of you. For others it is not as essential. If you are one who really does not need the extra income, then we invite you to consider sharing some or all of it with the church. James Bay United’s Board is overflowing with gratitude for all the gifts given during this very challenging time; your financial gifts, gifts of time, talent, generous love and care for each other, and for the world.
~ Charlotte Caron, Secretary of the Board
Some facts about our financial picture from our Treasurer:
In 2019, the Thrift Shop brought in $108,700; revenue this year is $10,531.
Our rental income for 2019 was $26,192; this year it’s $6,149.
Insurance premiums are on the rise – with increases of 30 to 40 percent expected. This could raise our projected costs of $7,111 by an additional $2,133 to $2,844 when our insurance comes due at the end of the year.
The Canada Employment Wage Subsidy program has been providing a 75 percent subsidy for our salaried employees since March 15th, with the program due to end on August 29th. Come September, our monthly salary and benefits costs will be approximately $13,300, almost twice what our monthly offerings bring in.
Timing of donations:
If you are able to make a special donation, it would be most helpful for us to get that in September after the wage subsidy program ends.
Questions?
Cheryl Caldwell would be happy to answer any questions you may have and can be reached at (250) 388-4560 or cheryl.caldwell@shaw.ca.