Pentecostal Assemblies of Canada
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
C+
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
83%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 83 cents are available for programs.
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Programs
About Pentecostal Assemblies of Canada:
Founded in 1919, Pentecostal Assemblies of Canada (PAOC) is a Christian charity which spreads the gospel and works to inspire people to become disciples of Jesus Christ. There are more than 1,100 Pentecostal churches in Canada with 235,000 followers but, based on spending, PAOC’s work focuses more on international programming than domestic.
PAOC reports that 3.1 billion people have little access to the gospel. In F2018, 91% of program spending was used for international mission work. PAOC focuses on areas where less than 2% of the population are Christian, specifically the 10/40 Window which is a rectangular area covering North Africa, the Middle East, and Asia. The charity had 345 global workers and 37,000 pastors working in 77 countries. Of these workers, 25 are spreading the gospel to Rohingya outside of refugee camps, bringing hope to traumatized peoples.
In F2018, the remaining 9% of program spending was allocated to Canadian programs and granted to other Pentecostal ministries. PAOC is focusing its work on youth, since it recognizes that 80% of people come to know Christ before the age of 18. The charity recognizes the importance of mentorship, digital presence, and mental health in reaching the next generation of disciples.
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Finances
Pentecostal Assemblies of Canada received $23.6m in donations during F2018, making it a Major 100 charity, and one of Canada’s largest. Administrative costs are 15% of revenues less investment income, and fundraising costs are 2% of donations. For every dollar donated, 83 cents go to the cause, which is within Ci’s reasonable range for overhead spending.
PAOC has gross funding reserves of $5.8m and $2.2m in interest-bearing debts. The charity could cover two months of program costs using net funding reserves.
Pentecostal Assemblies of Canada controls two for-profit organizations: Pentecostal Financial Services Group Inc. (PFSG) and Pentecostal Securities Corp. (PSC). PFSG provides mortgages to Pentecostal churches in Canada to fund construction projects. PSC is the registered dealer for PFSG notes which are unsecured, fixed-income promissory notes with a term to maturity of one to five years. Ci has not consolidated the financial information of PAOC to reflect the operations of PFSG or PSC.
This charity report is an update that has been sent to Pentecostal Assemblies of Canada for review. Changes and edits may be forthcoming.
Updated on May 30, 2019 by Madison Kerr.
Financial Review
Fiscal year ending December
|
2018 | 2017 | 2016 |
---|---|---|---|
Administrative costs as % of revenues | 15.1% | 11.8% | 12.5% |
Fundraising costs as % of donations | 1.9% | 2.1% | 2.5% |
Program cost coverage (%) | 18.3% | 0.2% | (3.6%) |
Summary Financial StatementsAll figures in $000s |
2018 | 2017 | 2016 |
---|---|---|---|
Donations | 23,565 | 20,607 | 20,372 |
Fees for service | 1,634 | 1,570 | 1,542 |
Business activities (net) | 479 | 438 | 434 |
Investment income | 1,608 | 1,688 | 1,594 |
Total revenues | 27,286 | 24,304 | 23,942 |
Program costs - International | 17,872 | 17,956 | 17,326 |
Program costs - Canada | 1,643 | 1,894 | 1,899 |
Grants | 142 | 606 | 197 |
Administrative costs | 3,888 | 2,669 | 2,802 |
Fundraising costs | 442 | 431 | 509 |
Other costs | 566 | 534 | 459 |
Total spending | 24,553 | 24,091 | 23,192 |
Cash flow from operations | 2,734 | 213 | 750 |
Capital spending | 100 | 297 | 220 |
Funding reserves | 3,587 | 46 | (699) |
Note: Ci has consolidated the Non-Consolidated Statement of Operating Fund Activities and the Non-Consolidated Statement of Trust Fund and Property Fund Activities. Investment income is presented net of trust fund management fee, affecting revenues and expenses by ($8k) in F2018, ($10k) in F2017, and ($10k) in F2016. Ci has adjusted for write-off of annuity loans, affecting expenses by ($13k) in F2016.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
3 |
$80k - $120k |
7 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2017
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Comments & Contact
Comments added by the Charity:
Charity Contact
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