Auckland City Mission Finances
Auckland City Mission is a charitable organisation registered under the Charitable Trust Act 1957 and the Charities Act 2005 (registration number: CC22938).
The Mission’s financial statements are audited annually by Grant Thornton and are available to view at the Charities Commission website and via the links below. To request a hard-copy of the Audited Financial Statements, please email [email protected]. Please click here to view our Annual Reports.
Please note: the Mission’s financial year runs from July to June.
The Auckland City Mission Foundation is a separate and distinct entity, set up in 2004, designed to provide long-term financial support to the Auckland City Mission by providing a reliable source of income to fund its operations. In the long-term, as the funds of the Foundation grow, the Foundation will increase its income distribution to the Mission.
The Auckland City Mission has no right to access the original capital of the Foundation. The Foundation was set up on the recommendation of an anonymous donor, who subsequently provided the initial funds of $1 million and pledged to match donations, on a dollar for dollar basis, for a period of 8 years commencing on 1 May 2005, (not exceeding $4 million in total).
From the Mission’s point of view, the Foundation is a separate and distinct entity. The Mission does not have control over the operations of the Foundation, the investment of monies received or the distribution of funds. However; under accounting standards the increase in the Mission’s interest in the Foundation (after the annual distribution to the Mission) is shown as income in the Mission’s financial statements and the Mission’s interest in the Foundation is shown as an asset in the Mission’s financial statements.
Further information concerning the Foundation can be found on its website: aucklandcitymissionfoundation.nz.
The Mission’s Financial Position
The financial statements indicate that the Mission is in a sound financial position. Thanks to the generosity of the Auckland community, the Mission’s equity or net assets had been built up to almost $22 million as at 30 June, 2016. However; some $5.6 million of this is represented by land and buildings and $9.7 million by the interest in the Auckland City Mission Foundation, which as discussed above is not controlled by the Mission and whose capital base cannot be distributed to the Mission.
The cash including bank deposits of around $6 million held by the Mission, which currently earns interest revenue, will be used for the redevelopment of the Hobson St site, which is now completely unfit for purpose. This redevelopment is also intended to include a number of social housing apartments to provide accommodation for some of the Mission’s clients together with support services. This may involve a total cost of some $70 million which will need to be raised from the Mission’s supporters, the wider public, including corporates, some mortgage finance and funding from the government. The Mission is aiming to provide $10 million of its own funds for this project.
The Sir Ernest Davis and Mollie Carr City Mission Endowment Fund:
On 22 February 2002, an endowment fund was established, “The Sir Ernest Davis and Mollie Carr City Mission Endowment Fund”.
The object of the fund is to provide a capital reserve account for the future and on-going support of the City Mission and its charitable activities by way of grants of either a capital or income nature.
For queries regarding the Auckland City Mission finances, accounts or constitution, please email our General Manager of Corporate Services, Roger King: [email protected]