Comments: Church Commissioners' results 2013

A report in today's Guardian says that to sell its stake in Wonga the CofE could lose between £3m - £9m. With these results they can afford that and should do it now.

Posted by Richard Ashby at Friday, 23 May 2014 at 9:48pm BST

Last year I was very surprised to learn of the £5.5 billion accrued in the funds managed by the Church Commissioners on behalf of CofE. Whilst it is seen as good husbandry by those responsible for fund management it seems to me perverse that many congregations are struggling with impossible financial expectations and burdens whilst the Commissioners fund has grown by 15.9% to £6.1 billion after expenses. I have heard all the defensive reasoning behind such a massive amount of wealth but I am left wondering what Jesus would think if His excited disciples ran to Him telling how much money they had made in His name? Derek Goodwin, Reader and Church Warden.

Posted by Derek Goodwin at Saturday, 24 May 2014 at 1:57pm BST

Can we try to have some perspective on the Church Commissioners' funds? Every year, everyone seems to be bemused by big figures.

In round terms

At the start of the year, £5503 million was the total value of this closed fund (there is no new money going in). £5200 million was the value of the investment assets, which produced £140 million. Cost of generating funds was £43 million, leaving £97 million of current income available for distribution.

The other outgoings were £215 million, thus exceeding the income by £118 million.

Realised gains on investments (ie when sold) were £270 million, and unrealised gains (they still hold the asset and current market value exceeds cost) were £450 million: total £720 million. Add in oddment and roundings bringing that to £740 million.

£740 million less £118 million = £622 million increase for the year, bringing the opening £5503 million to the closing £6125 million.

As the report highlights on page 15: "The Commissioners contribute 15p in the pound to the cost of the Church of England’s mission – most of the balance comes from the generous giving of today’s parishioners.”

The days when the Commissioners seemed to be able to pay for everything - stipends, pensions, grants for new parsonages, clergy car loan scheme, etc, etc are long since gone.

(I give away my age with my reluctance to treat unrealised gains as current profit)

Posted by John Roch at Saturday, 24 May 2014 at 7:37pm BST

Isn't it wonderful..a multi billion pound corporation, which can go on bank rolling the spectrum of every Anglican permeation of belief and practice. This is a time to remember the wise words of Ruth Gledhill.. ( paraphrase) there will be no Anglican schism, as the case resembles two persons living in a grand old house in London, who periodically threaten divorce but have too much to lose if they do so.

So there you have the main reason, the Church of England hangs together.... money!

Well thats how I see it from the Vatican moral high ground.

Posted by Robert ian Williams at Tuesday, 27 May 2014 at 7:17am BST
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