We are committed to finding a cure for WM.

2006 Financials

Waldenstrom’s Macroglobulinemia Foundation of Canada

2006 Financial Statements


Waldenstrom’s Macroglobulinemia Foundation of Canada
Balance Sheet
As at December 31, 2006
ASSETS
Current assets:
Cash in bank $50,433.08
$50,433.08
LIABILITIES
Current liabilities: 0.00
EQUITY
Retained earnings: 50,433.08
$50,433.08

Approved on behalf of the Board:

signed
A. Hinchcliffe . . . . . . . . Director and President
R. J. Anderson . . . . . . . . Director and Treasurer


Waldenstrom’s Macroglobulinemia Foundation of Canada
Statement of Revenue and Expenses
For the year ended December 31, 2006
Revenues:
Receipted donations received during the year:
Membership Fees $15,700.00
Special “in Memory of” Donations 4,925.00
Research Donations 15,455.25
Unclassified Donations 275.00
36,355.25
Other donations (received via the United Way, etc.) 3,542.32
Total revenues 39,897.57
Expenses:
Research contribution (to Alberta Cancer Board)
(see object “b” in Note 5)
$25,000.00
Payment to International Waldenstrom’s Macroglobulinemia
Foundation (IWMF) for member services (part of public
education and dissemination of information to persons
suffering from Waldenstrom’s Macroglobulinemia
(see object “a” in Note 5)
13,589.96
Stationery and office supplies 1,030.07
Postage and delivery costs 347.62
Website costs 243.96
Bank and credit card service charges 1,044.65
Total expenes 41,256.26
Net excess/-deficiency of revenues over expenses for the year -$1,358.69

Waldenstrom’s Macroglobulinemia Foundation of Canada
Statement of Retained Earnings
For the year ended December 31, 2006
Balance, beginning of year $         $51,791.77
Net excess/-deficiency of revenues over expenses for the year
(per statement)
-1,358.69
Balance, end of year $50,433.08

Waldenstrom’s Macroglobulinemia Foundation of Canada
Notes to the Financial Statements
December 31, 2006

  1. ACCOUNTING POLICIES
    • Donations are recorded as revenue when received. Expenses are recorded on an accrual basis as incurred.
  2. INCORPORATION
    • The Foundation was incorporated as a corporation without share capital under the Laws of Ontario on October 5, 2001. It received notification of registration as a charity under the provisions of the Income Tax Act effective December 27, 2002. It commenced operations in 2003.
  3. COMMENCEMENT OF CHARITABLE ACTIVITIES
    • During 2003 the Foundation collected charitable donations in support of its activities. During 2004 the Foundation commenced charitable activities with respect to object “a” of the Foundation (see Note 5 below). During 2005 the Foundation commenced charitable activities with respect to object “b”. Such charitable activities and collection of donations continued in 2006.
  4. STATUS
    • The Foundation has been designated as a charitable organization for purposes of the Income Tax Act (149(I)(f)).
  5. OBJECTS
    • The objects of the Foundation are:
      • To receive and maintain a fund or funds and to apply all or part of the principal and income therefrom, from time to time, for charitable purposes, and in particular for the following charitable purposes:
        1. to undertake public education, family support services, dissemination and publication of information about Waldenstrom’s Macroglobulinemia disease, and to coordinate medical care and social services for persons suffering from Waldenstrom’s Macroglobulinemia
        2. To promote and provide funds for research in the cause, control and cure of Waldenstrom’s Macroglobulinemia
  6. DIRECTORS AND OFFICERS
    • The officers of the Foundation are:
      • Arlene Hinchcliffe        –    President
      • Rodney J. Anderson     –    Treasurer
      • Olga Anderson             –    Secretary
    • The directors of the Foundation are:
      • Arlene Hinchcliffe
      • B. James Bunton
      • Bertram T. Visheau
      • Rodney J. Anderson
      • Olga Anderson