We are committed to finding a cure for WM.

2007 Financials

Waldenstrom’s Macroglobulinemia Foundation of Canada

2007 Financial Statements


Waldenstrom’s Macroglobulinemia Foundation of Canada
Balance Sheet
As at December 31, 2007
2006 2007
ASSETS
Current assets:
Cash in bank $50,433 $45,714
$50,433 $45,714
LIABILITIES
Current liabilities: $ 0 $ 0
EQUITY
Retained earnings: $50,433 $45,714
$50,433 $45,714

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, 2007
2006 2007
Revenues:
Receipted donations received during the year:
Membership Fees $15,700 $27,027
Special “in Memory/Honour of” Donations 4,925 4,715
Research Donations 15,455 27,418
Special Corporate Donation (Note 1) 3,637
Unclassified Donations 275
36,355 62,797
Other donations (received via the United Way, etc.) 3,543 499
Total revenues 39,898 63,296
Expenses:
Research contribution (to Alberta Cancer Board)
(see object “b” in Note 4)
25,000 50,000
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 4)
13,590 10,111
Education Forum Expenses (Note 1) 3,637
Stationery and office supplies 1,030 1,403
Support Group meeting expenses 506
Postage and delivery costs 348 458
Website costs 244 242
Bank and credit card service charges 1,045 1,658
Total expenes 41,257 68,015
Net excess/-deficiency of revenues over expenses for the year -$1,359 -$4,719

Waldenstrom’s Macroglobulinemia Foundation of Canada
Statement of Retained Earnings
For the year ended December 31, 2007
2006 2007
Balance, beginning of year $51,792 $50,433
Net excess/-deficiency of revenues over expenses for the year
(per statement)
-1,359 -4,719
Balance, end of year $50,433 $45,714

Waldenstrom’s Macroglobulinemia Foundation of Canada
Notes to the Financial Statements
December 31, 2007

  1. ACCOUNTING POLICIES
    • Donations are recorded as revenue when received. Expenses are recorded on an accrual basis as incurred. For the year 2007, deposits and payments up to Jan 17/08 have been treated as outstanding items pertaining to 2007 (outstanding deposits and accrued expenses). A corporate donation for $3,637 was receipted in 2007 but covered Foundation expenses for a 2006 education forum; accordingly, both the donation and the offsetting expenses have been recorded in the 2007 Statement of Revenue and Expenses.
  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. STATUS
    • The Foundation has been designated as a charitable organization for purposes of the Income Tax Act (149(I)(f)).
  4. 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
  5. 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