Waldenstrom’s Macroglobulinemia Foundation of Canada
2007 Financial Statements
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
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 |
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
- 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.
- 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.
- STATUS
- The Foundation has been designated as a charitable organization for purposes of the Income Tax Act (149(I)(f)).
- 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:
- 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 promote and provide funds for research in 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 charitable purposes, and in particular for the following charitable purposes:
- The objects of the Foundation are:
- 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
- The officers of the Foundation are: