The Presbyteries of Toronto Conference Corporation (PTCC)
The Presbyteries of Toronto Conference Corporation (PTCC), a charitable Ontario Corporation with no share capital was formed on June 30, 2010 by the approval of the Ministry of Government Services of the Province of Ontario of the Corporation's Supplementary Letters Patent.
In 2009 and 2010 the Board of Directors of The Toronto West Presbytery Corporation (TWPC) facilitated the formation of PTCC for the benefit of the Presbyteries of Toronto Conference. At November 2010 meetings, a new Board of Directors was elected and new members were admitted to PTCC, in accordance with By Law 1A. Board meetings and meetings of members are held on a regular basis during the year.
The initial asset flow to PTCC in 2010 and 2011 included assets from the Toronto West Presbytery Corporation, funds from Toronto Conference including the Cedar Glen Fund, the assets of the former nine Presbyteries of Toronto Conference, and the assets of the Toronto Tri-Presbytery Corporation. Surplus funds from the sale of properties by Toronto Conference are transferred to PTCC for investment in accordance with the Operating Agreement with the Founding Presbyteries.
Mission & Objectives
Mission: To be active and cooperative in the church development/redevelopment activities of the Presbyteries in Toronto Conference by making grants of income and capital from the Corporation.
To carry on business as a charitable Corporation, to receive and hold assets, to make investments authorized by law, and to provide financial management of the assets,
To review, approve, and disperse the grant requests of the Presbyteries in accordance with the "Operating Agreement" between the Presbyteries and PTCC.
The Toronto West Presbytery Corporation (TWPC, the predecessor Corporation)
TWPC was incorporated as a charitable Corporation on June 27, 1973 and started operations in 1974. Gradually through sales of surplus properties by Congregations in the 1980's and 1990's, assets were turned over to TWPC for use within the Presbytery. This process continued through 2010 when the asset value of TWPC reached approximately $7 million. Over 37 years TWPC made numerous grants and loans to various Congregations for church development and redevelopment, and to community ministries for their work within Toronto West Presbytery (now South West Presbytery).