A study has just been published showing that ten congregations in Toronto contributed a total of $45 million of economic value to the city based on a combined budget of only $10 million. In simple terms, the dollar value of having a church in a community is about 4.5 times its annual budget. The difference is called the “halo effect”, which is due to the church’s contributions to social capital and infrastructure, its programs for individual impact and community development, and other activities which add value.
Rather than being a drain on the community in terms of lost property tax revenue, or a drain on Canadian taxpayers because of the donation tax credit, churches are net economic contributors to Canada and their local communities.
CCCC partially funded the study, which was done by Dr. Michael Wood Daly of the University of Toronto and published by Cardus.
The full research report is available online at Haloproject.ca
Commentary by John Pellowe, CEO of CCCC, on the report is located here.
Noteworthy is provided for general information purposes and does not constitute legal or professional advice. Every organization’s circumstances are unique. Before acting on the basis of information contained in this blog, readers should consult with a qualified lawyer for advice specific to their situation.