You are here: Home / About The Spirit of the North / Financial Statements

Financial Statements

SPIRIT OF THE NORTH HEALTHCARE FOUNDATION

Statement of Operations Year ended March 31, 2011
With comparative figures for 2010

    2011    2010 
Revenues:  Total     Total 
Donations:      
  Annual programs  $  864,770    $    961,190
  Auxiliary to UHNBC      161,595          160,578
  Special events       570,549          461,435
  Gaming receipts    1,007,951       1,053,307
  Venture receipts        66,086            57,686
  Investment income        36,460            34,639
  Gift-in-kind donations:      
  Non-cash        84,739            53,343
  Non-cash distributed as grants        28,139            41,677
  Non-cash unrestricted included in inventory                -                   722
Gross Revenues from fundraising   2,820,289       2,824,577
         
  Annual program expenditures       150,162            83,658
  Special Events expenditures      418,914          255,698
  Gaming expenditures      749,563          741,178
  Administrative expenditures      174,727          242,162
  Charitable giving expenditures      106,951            94,471
  Gift-in-kind expenses        84,739            53,343
  Unrealized loss (gain) on change in value of   investments
      (24,452)		      
    (53,324)
Excess of Revenue before Grants   1,159,684       1,407,391
         
  Grants to Northern Health Authority/Other   1,360,024       1,356,344
       
Excess of Revenue over Expenses  $ (200,340)    $      51,047
 
 Statement of Financial Position
March 31, 2011 with comparative figures for 2010
           
Assets   2011   2010
Current assets:        
  Cash    $    797,342    $  1,467,683
  Accounts receivable          336,865           149,974
  Inventory            68,582             65,812
  Prepaid expenses                    19,764                   19,766
          1,222,553        1,703,235
Pledges receivable     -              343,397
Restricted cash and investments       2,446,638        2,428,112
Capital assets                  9,499                 8,914
Total Assets    $ 3,678,690    $  4,483,658
           
Liabilities and Fund Balances        
Current liabilities:        
  Accounts payable and accrued liabilities  $      48,764    $       42,232
  Due to Northern Health Authority          771,930        1,039,694
             820,695        1,081,926
Deferred pledge revenue     -              343,397
Fund balances:        
  Unspecified          401,858           621,309
  Capital assets              9,499               8,914
  Specified       1,131,384           877,546
  Gaming          487,837           518,608
  Endowment          383,039           348,171
  Capital campaign            444,378             683,787
          2,857,995        3,058,335
           
Total Liabilities and Fund Balances    $ 3,678,690    $  4,483,658
           
 Information taken from 2010-2011 Audited Financial Statements.
Audit completed by KPMG. Full statements available on request.

 

Revenue Canada Agency – Registered Charity Information Return