Volunteer treasurer oversees Foundation finances
The Anglican Foundation is managing finances in a whole new way. Dr. Daphne Rixon, accounting professor at Saint Mary's University, Halifax, has been appointed as the foundation's first external, pro bono treasurer.
Ms. Rixon, a fellow of Certified Management Accountants Canada, began in May. She will oversee the foundation's finances and guide foundation staff Jonathan Marshall and Kavitha Gunaseelan as they take on more day-to-day financial work at the Toronto office.
The shift to a new system began in May when foundation treasurer Jim Cullen retired. The Rev. Canon Dr. Judy Rois, Anglican Foundation executive director, had learned that it is common for organizations the size of the foundation to have a pro bono treasurer. It would also save them money.
Ms. Rois approached Ms. Rixon on the recommendation of Alex Faseruk, a foundation board member and finance professor at Memorial University.
"I wanted to do everything I could to assure donors that we're keeping admin costs at a low percentage," said Judy Rois, executive director of the Anglican Foundation.
Of all of the funds that the foundation administers, donations and bequests, the administration cost is 3.2%. The charity standard is that organizations spending less than 5% on administration are well managed, said Ms. Rois.
For Ms. Rixon, becoming treasurer was another way to give back.
A native of St. John's, Nfld., Ms. Rixon also serves as volunteer treasurer of two academic business associations: the Administrative Sciences Association and the Atlantic School of Business.
She said "yes" to the foundation after researching its outreach work. She said she was especially touched by Hope Bear, the foundation's intrepid mascot and subject of a recent book.
"I am looking forward to seeing the foundation evolve and become more current with needs of Anglicans today," said Ms. Rixon. "I want to be able to contribute to this work."
Founded in 1957, the Anglican Foundation has distributed close to $30 million in loans and grants throughout the Anglican Church of Canada.
The foundation has diversified under the work of Ms. Rois, who became executive director in 2010. In addition to supporting building construction, the foundation funds greening initiatives, the arts, and youth programs.