Finances and Stewardship

The Hope Oakville elders and staff do their best to honour the Lord with finances. If you have further questions regarding the budget or financial statements please contact stewardship@old.hopeoakville.ca

1.     Organization and Charitable Status
Hope Oakville is registered with the Canada Revenue Agency (CRA) as a Charitable Organization, registration number 811037696RR0001. Each year the church files an Annual Information form with the Charities Directorate in compliance with federal regulations. Hope Oakville is an accredited member of the Canadian Centre of Christian Charities (CCCC). As an accredited member of the CCCC we have been able to demonstrate ongoing compliance with high standards of financial and organizational integrity.

2.     Annual Budget Process
Each year an operational budget is prepared for review, analysis, questions, and approval by the executive staff and 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 fulfilment of Hope Oakville’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 Hope Oakville 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. Historical audited financial statements 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 Oakville, we prepare quarterly unaudited financial statements. The unaudited financial statements for the most recent year can be accessed at the bottom of this page.

6.     Expense Authorization Process
Hope Oakville 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, Executive Pastors and the Senior Pastor.

7.     Confidential Donor Information
Donor information is kept in strict confidence. Per our policies, elders and 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.

8.     Gift Acceptance and Valuation Policy

Any questions regarding the budget or the financial statements can be addressed to stewardship@old.hopeoakville.ca