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Our Finances and Stewardship
Every good gift in life is from God, including the ability to work and provide (Genesis 2:15; James 1:17). Since we are created and saved for God’s glory (Isaiah 43:7; Romans 11:36), everything we are and have, including our finances, belong to Him. Money is a stewardship from the Lord, a divine trust for the purpose of His kingdom and glory, and not a personal possession for individual pursuits. What we do with our finances, therefore, is significant to God, as we will all give an account (Luke 12:15-21).
In the Old Testament, the people of God were commanded to respond to God’s saving grace in every area of their life, including giving a literal tenth (“tithe”) of all their increase to the house of the Lord (Malachi 3:10), in addition to other gifts and offerings commanded by God (approximately 23% of one’s annually increase). Today, according to the New Testament, we are called to respond to an even greater work of God’s saving grace in the gospel of Jesus Christ by giving toward His kingdom purposes. The gospel frees, instructs, and enables us to give back to the Lord in the same way that God gave His Son for us (2 Corinthians 8:9; 9:15; Romans 8:32):
- joyfully, willingly, intentionally (2 Corinthians 9:7)
- generously (2 Corinthians 9:11)
- sacrificially (2 Corinthians 8:3)
- consistently and proportionally (1 Corinthians 16:2)
- expectantly (Philippians 4:19)
In this way, we “honour the Lord with our wealth” (Proverbs 4:11), and glorify Him as our greatest treasure on earth.
1. Organization and Charitable Status
- Incorporated Charity registered with Canada Revenue Agency
- Member of Canadian Council of Christian Charities
- Annual Budget Prepared
- Monthly Financial Executive Review
- Published Audited Annual Financial Statements
- Published Unaudited Quarterly Financial Statements
- Expense Authorization Process
- Confidential Donor Information
Harvest Bible Chapel Brampton, as an autonomous church, operates its financial administration under Harvest Bible Chapel Oakville, which 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. Harvest Bible Chapel Oakville is a member of the Canadian Council of Christian Charities (CCCC).
2. Annual Budget Process
Each fall, an operational budget is prepared for review, analysis, questions and approval by the Elders. 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 industry standards in North America to ensure it falls within acceptable parameters when compared to the overall budget of the church.
3. Monthly Financial Executive Review
Monthly financial statements are prepared and compared to the operational budget to ensure spending is in line with the fulfillment of Harvest Bible Chapel Brampton’s mission. Each quarter, as necessary, the operational budget is updated to reflect any changes in priorities throughout the year.
4. Annual Audit
To ensure maximum transparency and assurance, Harvest Bible Chapel retains an independent auditor to conduct annual audits of its financial statements. These financial statements are audited in accordance with Generally Accepted Auditing Standards (GAAS) and prepared in accordance with International Financial Reporting Standards (IFRS). Historical audited financial statements can be accessed at the bottom of this page.
5. Published Unaudited Quarterly Financial Statements
To ensure that the church body is aware of the most recent financial status of Harvest Bible Chapel Brampton, we prepare quarterly un-audited financial statements. The unaudited financial statements for the most recent year can be accessed at the bottom of this page.
6. Expense Authorization Process
Harvest Bible Chapel Brampton 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 Finance Department and Pastors.
7. Confidential Donor Information
Donor information is kept in strict confidence. Per our policies, Elders & Pastors do not have access to donor information and this information is kept in strict confidence by our Finance Department staff. Donor information is not sold, nor is it made available without the prior consent of the donor except where disclosure is required by law.
Any questions regarding the budget or the financial statements can be addressed to
2 Corinthians 9:7
“Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.”
Brampton - Q3 2013 Financials