Financials

We are all too familiar with how the COVID-19 pandemic has affected each of us in ways we could never have imagined. This has certainly been the case at Tyndale. Even in the midst of these extremely difficult times, we are continually reminded of God’s faithfulness. His continual care for us, meeting our needs even before we knew of the needs, has been remarkable.

One of the challenges we faced was delivering courses and providing student services remotely. Tyndale experienced a full shut-down of the campus in mid-March. Students and most employees transitioned quite seamlessly to a work-from-home model. There were some staff members whose roles could not be performed remotely, and consequently, we faced the very difficult decision to lay them off. The majority was part-time student workers.

During this past fiscal year, our Tyndale Fund goal was achieved because of your amazing generosity. At the same time, we experienced a decline in revenue during the same period. During March and April, Tyndale was eligible for the government wage subsidy. The combination of all of these factors has enabled the university to weather this storm and keep the majority of our employees working, delivering courses and student services. We are so grateful.

In the current environment, fall enrollment is precarious and uncertain. The challenge before us is great. Greater still is the God who goes before us and beside us as we continue navigating these uncertain days.

Many of you will realize that operating the university goes beyond operational expenditures and often involves significant capital expenditures. In his final address to supporters, President Nelson communicated our urgent need to address the refurbishment of our chapel. The cost of the project is upwards of $1.25M. We are so thankful that to date, we have contributions of $252,000 towards this project.