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My View: The community that could
2008-2009 Annual Report
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Message from Chair - The Applications - Our Case - Community Issues - Concluding Comments - Financials - Volunteer Committee - Public Activity Report - Appendix 1 & 2 - References |
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Financials
The following condensed financial statements represent an extract from the annual audited financial statement of FORCE - Friends of Rural Communities & the Environment for the year ended December 31, 2009.
A complete set of statements, together with the report of our auditors, Martyn Dooley & Partners, Chartered Accountants is available on our website.
Statement of Financial Position
December 31, 2009
2009 |
2008 |
|||
| Assets | ||||
| Cash short term deposits | $ | 50,406 |
$ | 37,869 |
| Internally restricted short term deposits | 150,000 |
125,000 |
||
| Cash held in trust | 191,695 |
140,150 |
||
| Other current assets | 7,861 |
1,225 |
||
| $ | 399,962 |
$ | 304,244 |
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| Liabilities and Net Assets | ||||
| Accounts payable and accrued liabilities | 9,174 |
393 |
||
| Externally restricted deferred contributions 1 | 191,695 |
140,150 |
||
| Total Liabilities | 200,869 |
140,543 |
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| Net Assets | ||||
| Restricted net assets, hearing fund 2 | $ | 150,000 |
$ | 125,000 |
| Unrestricted net assets | 49,093 |
38,701 |
||
399,962 |
304,244 |
|||
259,806 |
165,705 |
|||
Statement of Operations
Year Ended December 31, 2009
2009 |
2008 | |||
| Revenue | ||||
| Environmental Defence Canada case support3 | $ | 104,402 | $ | 56,387 |
| Individual contributions | 8,195 |
7,500 | ||
| Business Contributions | - |
3,600 | ||
| &nbswp;Annual Gala and Golf Tournament | 20,825 |
26,343 | ||
| Tour De FORCE | - |
1,110 | ||
| Interest | 2,626 |
9,260 | ||
104,739 |
107,825 | |||
| Allocation to externally restricted deferred contributions | (51,545) |
(25,150) | ||
| Total Revenue | 84,503 |
79,050 | ||
| Expenses | ||||
| Technical Experts | ||||
| Ecology | 6,540- | - |
||
| Hydrogeology | 9,474 | 7,450 |
||
| Legal | 19,800 | 27,083 |
||
| Research materials | 544 | - |
||
| 36,358 | 34,533 |
|||
| Community Activities | ||||
| Community meeting expenses | 475 | 284 |
||
| Postage | 1,397 | 4,730 |
||
| Printing | 40 | 2,658 | ||
| Newspaper Advertising | 3,875 | 13,991 | ||
| Signage | 2,907 | 27 |
||
| 8,694 | 8,097 |
|||
| Expenses Related to Incorporation | ||||
| Insurance | 2,384 |
2,316 | ||
2,384 |
2,316 | |||
| Operating Costs | ||||
| Bank service charges | 33 | 47 |
||
| Meeting expenses | 337 | 188 |
||
| Memberships | 371 | 361 |
||
| Office supplies | 318 | 139 |
||
| Parking | 73 | 13 |
||
| Telephone | 543 | 422 |
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| 1,675 | 1,170 |
|||
| Total Expenses | 49,111 |
59,709 | ||
| Excess of Revenue over Expenses | 35,392 |
19,341 |
Notes:
- Externally Restricted Deferred Contributions - represent resources held in trust and intended for experts fees related to expected judicial hearings.
- Restricted Net Assets / Hearing Fund - In 2009 the directors have allocated another $25,000 of the unrestricted net assets to an internally restricted hearing fund, this bring the total of that fund to $150,000
- Environmental Defence Canada Case Support - FORCE has an ongoing strategic relationship with Environmental Defence Canada (EDC). The relationship allows FORCE supporters to contribute to EDC on behalf of FORCE. EDC in turn agrees to pay for various legal and technical expert expenses incurred by FORCE. EDC receives a 10%administration fee as part of this agreement.