Moving beyond mere breathing
Though we are in the recovery stage after that severe financial attack at the tail end of last year we still remain somewhat vulnerable to a relapse. Here’s a quick overview, in response to reader inquiries, of the prospects for our fiscal year, which ends August 31, 1998.
Cash flow is the air that any enterprise needs to breathe and whereas we were nearly breathless in December we concluded January with $27,000 in the bank; our three sources of revenue (subscriptions, advertising and donations) all exceeded our January targets. However:
Subscriptions have experienced a decline over the last few months and represent the biggest challenge for us at this point; we need to see an increase of at least 600 during the next seven months and achieve significant growth beyond that in the year(s) ahead. On the other hand, we need to see a significant increase to our current (5,400) subscriber base. You can help us here by introducing friends and colleagues to ChristianWeek. Pass your copy on or provide someone with a gift subscription (see the ad on page 2 that provides for this opportunity at a reduced rate).
Advertising revenue continues to be well ahead of the previous years (30% above last year’s four-month total). We expect to meet the target for the year in this category.
Donations have also come in well following our appeal in December. Our total since mid-November stands at just over $60,000. In order to meet our commitments and ensure an adequate cash flow, we will still need $15,000 by the end of August as well as donor support in our next fiscal year (1998-99). After that we should be able to operate on a self-sustaining basis.
What’s gone down?
How have we been spending what we have? With money received from ChristianWeek supporters and through arrangements with creditors (some have donated funds to cover outstanding amounts) we have reduced liabilities by about $85,000. Further negotiations are in progress and we are confident that we can bring our total liabilities to a normal level by the end of 1998.
In the meantime we are pleased that the staff have continued to produce a wonderful resource for the Christian community in Canada. We are grateful for the many writers who have contributed their services while providing excellent material for publication.
Though we need to have the cash flow in order to breathe as a publication, breathing is not the mission of Fellowship for Print Witness. "Serving Christians across Canada with vigorous religious journalism committed to historic Christianity" is! Thank you for joining with the board of directors and staff in that mission.
Dan
Burton, Chair
Fellowship for Print Witness
