Academic excellence interwoven with a vibrant Christian faith remains at the core of Tyndale’s mission.
Tyndale recently celebrated its first anniversary on the Bayview campus. While we are thrilled with our new home, its transformation has been costly. Servicing the debt required to bridge our renovation financing needs while raising capital donations has strained our resources. At the same time, Tyndale was not immune to an industry-wide decline in humanities students. These factors combined to produce a financial loss for the year. They also accelerated our ongoing efforts to streamline our operations by figuring out how to do things more efficiently and allocate the resources entrusted to us more effectively.
Tyndale’s revenue was negatively affected by lower than anticipated enrolment at the University College. However, record numbers at the Seminary, increases in facilities rentals and other ancillary operations, and another year of generous donor support combined to offset the impact of the enrolment decline. At the same time, operating expenses fell due to closing the sale of the Ballyconnor campus which eliminated the costs of carrying two campuses, as well as other reductions in academic and support services costs. We are optimistic that this trend toward even greater operating efficiency will continue in the current year.
Academic excellence interwoven with a vibrant Christian faith remains at the core of Tyndale’s mission. We believe that Tyndale also has an important role as a gathering place for communities of faith. To quote last year’s Report, “We hold to what we believe to be a God-given vision of the Bayview campus as both a spectacular site for advancing the cause of Christian higher education and a hub of Christian engagement with the world in the midst of Canada’s largest and most multicultural city.” We are excited about the future. Please journey with us.