Assets

a. Land and Buildings

Professional appraisers have valued our properties as follows:

St. Aidan’s $3,000,000 (May 2019)

Cadboro Bay $2,200,000 (March 2016)*

Gordon Head $1,800,000(March 2016)*

*these appraisal values are from 3 years ago.  Current value is likely to be higher by 10% or more.

Our properties are zoned “assembly” which allows churches, schools, daycares, libraries, recreation facilities and similar purposes. This is the typical zoning for church properties. Within this zoning we could expand/redevelop an existing property for church use.

b. Financial Investments

In addition to real property assets, our congregations have financial assets as at Dec. 31, 2018 of approximately:

St. Aidan’s: $258,000+

Cadboro Bay: $250,000 – ($200,000 of which is held by the Cadboro Bay United Church Foundation)

c. additional sources of revenue

Both congregations have an annual operating budget of approximately $500,000 per year for a total of $1M.  These budgets are met in different ways in each congregation as illustrated by the graphs below.

Not all of these current revenue streams will remain the same after amalgamation or into the future.  Approximately 25% of the current donations in each congregation come from those 80 years of age and older.  Rental income and fundraising income will change in the future as well.

New revenue streams of bequests, social enterprise profits, grants and partnership leases will help us to diversify our income into the future.

d. Strengths and Passions of Each Congregation:

Each congregation brings into the amalgamation equal but different strengths and passions. Neither congregation is dying but rather aware that we can do more together than we can separate.

St Aidan’s brings to the table:

  • An established thrift store and integrated connection with other community organizations
  • Active lay leadership and well organized volunteer led events
  • Multiple choirs including a midweek children’s choir
  • Strong commitment to social justice, hospitality, spiritual growth, affirm status and outreach
  • Creative intercultural ministry experience and leadership
  • Well stocked and managed library
  • Proven record in fund raising activities

Cadboro Bay brings to the table:

  • Dynamic website and social media platforms (Facebook, Instagram, Twitter)
  • Integrated technology in worship, communication, pastoral care
  • Comprehensive children, youth, young adults and family ministry program
  • Strong leadership and history in reconciliation and decolonization education
  • Diverse adult programing
  • Spiritual companions eldering program
  • Commitment to social justice and outreach

e. Staffing

Both congregations are well served by the staff that serve the congregation at this present time. Continuity of the staff will be maintained while job descriptions may change to remove duplications and allow for gaps to be filled. At the present time both congregations have a full time lead minster who has been called. Both congregations have part time clergy appointed to oversee pastoral care. In addition, both congregations have multiple musicians who provide leadership, contract staff that provides leadership for children, youth, young adult and family ministry, office administration and bookkeeping and custodial care.  Staffing cost form a major part of both congregation’s budgets and are also a major asset for each.