Toronto Greek Church Organization To Sell Property After Financial Woes
The Cathedral of the Assumption of the Virgin Mary in Toronto. Credit: CAVM/Facebook
A Greek Orthodox nonprofit in Toronto that owns churches and schools and hosts the gigantic “Taste of the Danforth” Greek folk festival every summer might soon be forced to sell one of its properties due to a precipitous drop in revenues.
The news was shared this week from the Greek Community of Toronto, which stated that it is facing debts of $4.5 million, mostly due to the effects of the pandemic. Not only could the organization not hold the festival last year but it also experienced a similar drop in school attendance, from its normal level of 1,000 to just 100 presently.