Download - Abridged Financial Statements 2014/15
#WeArePossibility FINANCIAL STATEMENTS 2014/15
On behalf of the Finance and Audit Committee of United Way of Peel Region, I am pleased to present the report for
the year ended March 31, 2015.
The 2014/15 audited financial statements reflect the collective efforts of our 3,300 dedicated volunteers who
contributed over 15,000 hours of their time and talents, and our generous donors who made more than 23,000
donations totaling $12.8 million .
Our job is to ensure your dollars are spent wisely and strategically to achieve desired results.
This achievement will support an integrated network of local agencies in the delivery of social services and programs,
and fund community grants and collaborations that will benefit vulnerable individuals and families living in Brampton,
Caledon and Mississauga.
Community investments are monitored by an experienced United Way community investment cabinet, allocations
committee and staff. All program and service funding requests must meet a strict set of performance criteria based
on the most current research. By focusing on the best people, latest research and innovative practices around
achieving measurable results, we maximize the impact of all contributions and the return on your investment.
Based on our audited financial statements, our cost of fundraising – which includes a portion of our operating cost –
was 19.2 per cent of our total revenue, excluding the allowance for pledge loss.
We are grateful for the ongoing support and counsel of the Board of Directors and our auditors, Grant Thornton LLP.
Respectfully submitted on behalf of the Finance and Audit Committee,
Michelle Cole, MBA Shirley Crocker, CPA, CGA
Treasurer, Finance & Audit Committee Vice President, Finance & Administration
OFFICERSBoard ChairJohn RussoPartner, Pallett Valo LLP
Vice ChairThomas Dyck, Vice ChairFinancial Services Senior Executive TreasurerMichelle ColeSenior Vice President, Sales & Marketing, PetHealth Inc.
SecretarySnigdha MalikFinancial Insights Prudent Decisions Past ChairJudy LintonVice President, Cancer & Diagnostic Services, Grand River Hospital
DIRECTORSAlan AldertonSenior Corporate RecruiterEdward Jones
Dr. Anil GuptaStaff Cardiologist, Medical DirectorTrillium Health Partners
Wayne HalendaManaging Director Structured Credit, CIBC
Mariam Hashmi*Manager, People and Change Consulting Practice, KPMG
Chuck Hounsell*Senior Vice President Real Estate Secured Lending TD Canada Trust
Ian MarshallSenior Legal ProfessionalBot Construction Group
Sadaf ParvaizInclusiveness ConsultantErnst & Young LLP
Serge Rochette, P.Eng.Vice President, Network ManagementRogers Communications
Motilall Sarjoo (Sarj)Past PresidentPeel Regional Labour Council
Narendra ShahPrincipal, Shah & Associates Health ConsultantsSenior Associate, Santis Health
Jeanie TheoharisAdjudicator/Liaison MemberLandlord and Tenant Board Central Region
Sven SpengemannVisiting professor and fellowGlendon School of Public and International Affairs
Joe VetroneVice President Integration & PlanningSuncor Energy
Shelley WhitePresident & Chief Executive OfficerUnited Way of Peel Region
2014/15 BOARD OF DIRECTORS
* Ex-Officio board members
On leave of absence
Financial Report
VIEW OUR 2014/15 ANNUAL REPORT ONLINE AT unitedwaypeel.org/communityimpact
Year ended March 31, 2015
Statement of Operations*
Revenue
Campaign revenueCentrally Coordinated Campaign (CCC)Ardglen Emergency Relief Fund Sponsorship
Total gross campaign revenue
Net pledge lossNet campaign revenue
Other income Total revenue
ExpendituresDonor designations distributed
Available for expenses, program funding and community investments
Fundraising expenses
Available for program funding and community investments
Program fundingCommunity Investments
Excess (deficiency) of revenue over expenditures
2015
12,650,7061,467,330
58,00414,176,040
95,769
14,271,809
(247,838)14,023,971
478,868
14,502,839
2,262,755
12,240,084
2,833,946
9,406,138
1,758,9127,423,3469,182,258
223,880
2014
12,914,8411,300,176
-14,215,017
82,941
14,297,958
(258,594)14,039,364
712,277
14,751,641
2,566,080
12,185,561
2,752,129
9,433,432
1,832,7127,947,1749,779,886
(346,454)
$ $
$ $
As at March 31, 2015
Statement of Financial Position*
AssetsCurrent
CashEstimated net pledges and donations receivableOther receivablesPrepaid expenses
Forever Fund investmentCapital assets
LiabilitiesCurrent
Payables and accrualsCommunity investments payableDeferred designation revenueDeferred special gift revenueDeferred grant revenue
Net AssetsInvested in capital assetsRestricted for endowment purposes - Forever FundInternally restricted net assetsUnrestricted net assets
2015
8,113,5095,842,742
188,683175,922
14,320,856
214,040393,222
14,928,118
524,3957,231,8252,181,3581,100,410
91,33911,129,327
393,222214,040
1,596,6361,594,8933,798,791
14,928,118
2014
5,771,6846,807,851
122,696167,802
12,870,033
200,862443,577
13,514,472
453,7347,227,1762,215,306
-56,523
9,952,739
443,577200,862
1,715,1531,202,1413,561,733
13,514,472
$
$
$
$
$
$
$
$
FINANCIAL STATEMENTS
FULL FINANCIAL STATEMENTS ARE ONLINE AT unitedwaypeel.org/communityimpact
* Excerpts from the audited financial statements
90 Burnhamthorpe Road West, Suite 408 | PO Box 58 Mississauga, ON L5B 3C3
Phone: 905-602-3650 | Fax: 905-602-3651 | TTY: 905-602-3653
[email protected] | www.unitedwaypeel.org
/unitedwaypeel
OUR MISSIONTo improve lives and build community by engaging individuals and mobilizing collective action.
OUR VALUESOur values guide our decision-making and our work:
• Demonstrate integrity and transparency• Inspire volunteerism• Endorse collaboration and partnerships• Provide non-partisan leadership• Embrace inclusion and equity