Waldenstrom’s Macroglobulinemia Foundation of Canada
2009 Financial Statements
2008 | 2009 | |
ASSETS | ||
---|---|---|
Current assets: | ||
Cash in Bank | $50,489 | $35,373 |
Certificates of Deposit | 50,000 | 75,000 |
TOTAL ASSETS | $100,489 | $110,373 |
LIABILITIES | ||
Current liabilities: | ||
Research Contribution: | ||
Research Grant payable in instalments in 2010-2011 (Note 3): | $74,950 | |
Total liabilities | $ 0 | $74,950 |
EQUITY | ||
Retained Surplus: | $100,489 | $35,423 |
TOTAL LIABILITIES AND EQUITY | $100,489 | $110,373 |
On Behalf of the Board:
signed
Arlene Hinchcliffe . . . . . . . . Director and President
Jeff Atlin . . . . . . . . . . . . . . . Director and Treasurer
2008 | 2009 | |
Revenues: | ||
Receipted Donations received during the year: | ||
Membership Contributions | $24,915 | $23,675 |
Non-Cash Donations (Note 4) | 10,200 | |
Interest & Misc. Income | 1,264 | |
Total Membership Fund Donations | 35,115 | 24,939 |
Research Donations: | ||
In Honour of | 2,460 | 6,385 |
In Memory of | 5,259 | |
Other Research | 32,330 | 28,714 |
Via Payroll Deduction | 500 | 1,315 |
Non-receipted donations (fundraising activities) | 14,504 | |
Total Research Fund Donations: | 55,053 | 36,414 |
TOTAL Revenues: | $90,168 | $61,353 |
Expenses: | ||
Research Contributions (Note 3) | 99,935 | |
Payment to IWMF (membership & member services) (Note 2) | 22,224 | 13,998 |
Fundraising Expenses (Note 5) | 10,200 | |
Education Forum Expenses | 6,614 | |
Stationery & Office Supplies | 352 | 1,660 |
Support Group Meetings | 1,394 | |
Postage & Delivery | 410 | 350 |
Website / Computer Services | 270 | 271 |
Software | 68 | 616 |
Bank & Credit Card service charges | 1,869 | 1,601 |
TOTAL Expenses: | $35,393 | $126,419 |
Excess (Deficiency) of Revenues over Expenses for the Year | $54,775 | ($65,066) |
2008 | 2009 | |
Balance, beginning of year | $45,714 | $100,489) |
Excess / (Deficiency) of revenue over expenses for the year | 54,775 | (65,066) |
Balance, end of year | $100,489 | $35,423 |
Waldenstrom’s Macroglobulinemia Foundation of Canada (WMFC)
Notes to the Financial Statements
December 31, 2009
- ACCOUNTING POLICIES
- Donations are recorded as revenue when received. Expenses are recorded on an accrual basis as incurred.
- US DOLLAR ACCOUNTING
- Cash held in the US dollar bank account and payment to IWMF in US Funds for member services from the US dollar account have been converted to Canadian dollars for the financial statements. The conversion rate used of $1.0977 is the average cost of purchasing the US dollars.
- GRANT EXPENSE AND PAYABLE
- WMFC committed to fund a research grant at the BC Cancer Agency in the amount of $99,935. This grant is payable in four instalments, the first of which was paid in December, 2009 in the amount of $24,985. WMFC is committed to pay the balance of the grant as follows, subject to receipt of satisfactory progress reports:
June, 2010 $24,985 December, 2010 $24,985 June, 2011 $20,000 on presentation of final progress report $4,980 $74,950 - NON-CASH DONATIONS
- The WMFC held a fundraiser. All the out of pocket expenses of the funraiser were covered by a single donor, who was issued a tax receipt for the donation. This is offset by the corresponding expense under Fundraising Expenses.
- FUNDRAISING EXPENSES
- This amount reflects expenses that are incurred to hold fundraising events, whether paid directly by WMFC or receipted donations.
- INCORPORATION
- The WMFC 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.
- STATUS
- The WMFC has been designated as a charitable organization for the purposes of the Income Tax Act (149(I)(f)).
- OBJECTS
- The objects of the WMFC 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 chartiable pursposes and in particular for the following charitable purposes:
- 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;
- to provide funds for research into the cause, control and cure of Waldenstrom’s macroglobulinemia.
- 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 chartiable pursposes and in particular for the following charitable purposes:
- The objects of the WMFC are:
- OFFICERS
- The Officers of the Foundation are:
Arelen Hinchcliffe – President Jeffrey M. Atlin – Treasurer Betty McPhee – Secretary
- The Officers of the Foundation are: