Sammlung VI/03/004 - Mennonite Publishing House (Scottdale, Pa.) Publisher Subject and Correspondence Files (J. Robert Ramer)

Since its beginning in 1908, the Mennonite Publishing House operated on a tight budget, trying to operate as a business selling a product and at the same time producing resources that were important to the Mennonite church. Unsecured loans, or debenture notes, were made to the Mennonite Publishing House from early on to help make ends meet. When U. S. securities regulations changed to limit the use of debenture notes, the Joint Executive Committee of Mennonite Church USA and Mennonite Church Canada told the Mennonite Publishing House to address the debenture note issue. Suddenly, the Mennonite Publishing House had to repay 2.4 million to the 122 debenture holders. This set the demise of the Mennonite Publishing House into motion.

During the process of merging General Conference Mennonite Church and Mennonite Church publishing agencies, the financial stresses of both agencies became apparent. Both were operating at a loss. In 2001, Faith and Life Press had an operating loss of $167,211, and MPH had a loss of $369,430. Combined losses in 2002 were $793,079.

A full audit disclosed operating losses and debts of $5.1 million, including the debenture notes in 2004.\

In November 2010, Mennonite Church Canada joined Mennonite Church USA in approving MPN’s merger with Third Way Media and its relocation to Harrisonburg, Virginia. The merged entity was named MennoMedia.