Pentecostal Assemblies of Canada

2450 Milltower Court
Mississauga, ON L5N 5Z6
General Director: Rev. David Wells
Executive Director: Rev. Murray Cornelius

Charitable Reg. #:10783 3295 RR0374

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 4/5]

✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years available on the charity’s website.

B

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.

87%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 87 cents are available for programs.



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OVERVIEW

About Pentecostal Assemblies of Canada:

Pentecostal Assemblies of Canada is a 4-star charity. It has a results reporting score of B which is average. For every dollar donated, 87 cents are available to go towards the cause. Its reserve funds can cover 11 months of program costs.

Pentecostal Assemblies of Canada (PAOC) is a Christian charity founded in 1919. It spreads the gospel and works to inspire people to become disciples of Jesus Christ. In 2023, Pentecostal Assemblies of Canada spent $26.1m on its programs. PAOC has two main programs: Mission Global, and Mission Canada.

Mission Global was 75% of program spending. Mission Global strives to spread the message of Jesus amongst those with little or no access to the gospel. Pentecostal Assemblies of Canada reports that 41% of the world population, or 3.3 billion people, currently fall into this category. PAOC has five main global programs: GlobalEd, GlobalWorks, Missions and Kids (MAK), STM Network, and ZOE Network. These programs focus on specific values like education, volunteering, children’s ministry, women’s ministry and more. In 2023, PAOC had 364 global workers and volunteers in 87 different countries. In 2023, PAOC handed out 41,000 copies of God’s work in Bangladesh. In Israel and Gaza, PAOC blessed and provided aid to over 500 Israeli families, and cared for 26 severely ill Gazan children. Mission Global has a large focus on education. In 2023, it provided 129 students with Timothy Fund scholarships to become active ministers of the gospel. Since 2014, almost 3000 scholarships have been given out. In their Villages of Hope initiative, PAOC enrolled 350 children in preschool in 2023.

Mission Canada was 25% of program spending. The main part of this program is the Fellowship Services. These services support the PAOC constituency and International Office to provide efficient church services. In 2023, Mission Canada served 276,832 people total at 1,040 different affiliated assemblies. This averages to about 266 people per assembly. 30% of these affiliated assemblies are in the Western Ontario District and 16% are in the BC/Yukon District. The primary language for most of these services was English (65%), followed by French (9%) and Indigenous (8%). Pentecostal Assemblies of Canada also reports giving 2,752 spirit baptisms and 8,902 water baptisms. For more details on all these numbers, see the charity’s Fellowship Statistics.

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Results and Impact

Pentecostal Assemblies of Canada reports converting 15,790 Canadians to Christians in 2023. This is a 24% increase from 2022.

While Ci highlights these key results, they may not be a complete representation of PAOC’s results and impact. This charity has not yet been rated for impact (n/r).

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Finances

In 2023, Pentecostal Assemblies of Canada received $27.3m in donations. This is a 13% increase from the $24.1m received in 2022. Administrative costs are 12% of revenues (less investment income) and fundraising costs are 1% of donations. This results in total overhead spending of 13%. For every dollar donated, 87 cents are available for programs. This is within Ci’s reasonable range for overhead spending.

PAOC has reserve funds of $23.8m. The charity’s reserve funds can cover 11 months of annual program costs.

Pentecostal Assemblies of Canada is the sole owner of two for-profit organizations: Pentecostal Financial Services Group Inc. (PSFG) and Covenant Securities Corp. (CSC). PSFG provides mortgages to Pentecostal churches in Canada to fund construction projects. CSC is the registered dealer for PSFG notes. These are unsecured, fixed-income promissory notes with a term to maturity of one to five years. PSFG is exempt from the usual reporting and capital requirements of financial services companies. The details of PSFG and CSC’s exemptions can be found here.

Ci included PFSG and CSC’s net income in business activities but did not further consolidate the financial information of PAOC to reflect the operations of PFSG or CSC. 

PAOC has eight related parties, including charitable organizations and the above for-profit companies. Its financial statements are complex and worth reading.

Profile updated on June 12, 2024 by Abby Stout.

Financial Review


Financial Ratios

Fiscal year ending December
202320222021
Administrative costs as % of revenues 11.7%11.6%10.8%
Fundraising costs as % of donations 1.3%1.2%1.5%
Total overhead spending 13.0%12.8%12.3%
Program cost coverage (%) 90.9%98.9%97.6%

Summary Financial Statements

All figures in $000s
202320222021
Donations 27,30124,08124,344
Government funding 00280
Fees for service 1,0621,0991,119
Investment income 1,7891,6121,730
Other income 817798442
Total revenues 30,96927,59027,914
Program costs - International 22,38720,98519,654
Program costs - Canada 3,7262,3202,087
Grants 5867118
Administrative costs 3,4063,0242,840
Fundraising costs 352287354
Other costs 507477454
Total spending 30,43627,16025,506
Cash flow from operations 5334302,408
Capital spending 312741
Funding reserves 23,78523,11121,342

Note: TRUST AND PROPERTY FUND: 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: Investment income is presented net of trust fund management fee, affecting revenues and expenses by ($9k) in 2023, ($7k) in 2022, and ($10k) in 2021. ACTUARIAL ADJUSTMENTS: To report on a cash basis, Ci has adjusted for actuarial adjustments to annuities. This affected expenses by ($106k) in 2023, ($112k) in 2022, and ($95k) in 2021. WAGE SUBSIDY: Ci included PAOC’s wage subsidy in government funding, affecting revenue by nil in 2023, nil in 2022, and $280k in 2021. GAIN ON INVESTMENTS: Ci included PAOC’s gains/losses on investments. This affected revenues by ($14k) in 2023, $5k in 2022, and $411 in 2021.

Salary Information

Full-time staff: 203

Avg. compensation: $57,883

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
0
$120k - $160k
0
$80k - $120k
0
$40k - $80k
0
< $40k
0

Information from most recent CRA Charities Directorate filings for F2022

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Comments & Contact

Comments added by the Charity:

Charity Contact

Website: www.paoc.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: (905) 542-7400

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Charitable Registration Number: 80340 7956 RR0001