FINANCIAL STATEMENTS

Statement of Financial Position

March 31, 2017, with comparative information for 2016

2017 2016
ASSETS
Current assets:
Cash $954,685 $1,190,829
Accounts receivable 147,287 264,449
Prepaid expenses and deposits 10,595 13,413
Other Assets 112,861 89,535
1,224,428 2,558,226
Investments (note 2) 8,294,275 7,108,535
Capital assets (note 3) 93,787 103,779
$9,613,490 $8,770,540
LIABILITIES AND FUND BALANCES
Current Liabilities:
Accounts payable and accrued liabilities $227,012 $357,394
Deferred revenue 176,500 55,500
Fund Balances:
Investment in capital assets 93,787 103,779
Externally restricted 4,393,125 4,064,678
Internally restricted (note 4) 2,387,047 3,017,867
Unrestricted 2,336,019 1,171,332
9,209,978 8,357,646
$9,613,490 $8,770,540

*Note 5: Consists of approved funding for local health care priorities currently in progress yet to be invoiced and/or paid.

Statement of Operations

Year ended March 31, 2017, with comparative information for 2016

2017 2016
Revenue:
Fundraising activities $3,351,605 $3,789,208
Investment income (note 6) 313,589 18,494
Gifts-in-kind (note 5) 97,241 85,543
3,762,435 3,893,245
Expenditures:
Fundraising activites 703,240 862,091
Salaries and benefits 818,161 810,350
Office and other 39,131 218,839
Amortization of capital assets 9,992 9,782
1,570,524 1,901,062
Excess of revenue over expenses before the undernoted 2,191,911 1,992,183
Donations to Alberta Health Services 1,339,579 464,345
Excess (deficiency) of revenues over expenses $852,332 $1,527,838

Excerpts from the audited financial statements by KPMG LLP. For full audited statements, visit northernlightshealthfoundation.ca

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