finances and stewardship

finances and stewardship

Hope Church Toronto North does their best to steward the funds it receives to honor the Lord financially. If you have further questions regarding the budget or financial statements please contact:


1. Organization and Charitable Status 

Hope Church Toronto North is an incorporated charity registered with the Canada Revenue Agency. Each year the church files an Annual Information form with the Charities Directorate in compliance with federal regulations. Hope Church Toronto North is a member of the Canadian Council of Christian Charities (CCCC).


2. Annual Budget Process

Hope Church Toronto North's operational budget is prepared for review, analysis, questions, and approval by the elders in the month of June. Each ministry is required to present a budget alongside a ministry plan for the year. The operating budget is fundamental to our accountability, transparency, and integrity. Staff compensation is approved by non-staff elders and is compared with church industry standards in the GTA to ensure it falls within acceptable parameters recommended by CCCC when compared to the overall budget of the church.


3. Quarterly Financial Review

Quarterly financial statements are prepared and compared to the operational budget to ensure spending is in line with the fulfillment of Hope Toronto North’s mission. Each quarter, as necessary, the operational budget is updated to reflect any changes in priorities and/or circumstances throughout the year.


4. Annual Audit

To ensure maximum transparency and assurance Hope Church Toronto North retains an independent auditor to conduct annual audits of its financial statements. These financial statements are audited in accordance with Canadian generally accepted auditing standards and prepared in accordance with Canadian accounting standards for not-for-profit organizations. Prior to September 1, 2022 Hope Church Toronto North functioned as a ministry of Hope Church Mississagua, Historical audited financial statements for Hope Church Toronto North can be accessed at the bottom of this page.


5. Published Unaudited Quarterly Financial Statements

To ensure the church body is aware of the most recent financial status of Hope Church Toronto North, we prepare quarterly unaudited financial statements. The unaudited financial statements for the most recent year quarter can be accessed at the bottom of this page.


6. Expense Authorization Process

Hope Church Toronto North has a strict expense authorization to ensure financial accountability for operational and capital purchases. Purchases in excess of specific thresholds must be approved by the Department Head, the Senior Pastor, or the Elders.


7. Confidential Donor Information

Donor information is kept in strict confidence. Per our policies, elders and pastors do not have access to individual donor information and this information is kept in strict confidence by our Finance department staff, currently administered by the Finance staff at Hope Church Mississauga. Donor information is not sold, nor is it made available without the prior consent of the donor except where disclosure is required by law.