2011-2012 Annual Report - Dr. Stirling McDowell Foundation for ...
2011-2012 Annual Report - Dr. Stirling McDowell Foundation for ...
2011-2012 Annual Report - Dr. Stirling McDowell Foundation for ...
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DR. STIRLING MCDOWELL FOUNDATION<br />
FOR RESEARCH INTO TEACHING INC.<br />
STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETS<br />
year ended June 30, <strong>2012</strong><br />
OPERATING RESTRICTED<br />
FUND FUND <strong>2012</strong> <strong>2011</strong><br />
REVENUES<br />
Donations (Notes 6 and 9) $ 107,935 $ 11,760 $ 119,695 $ 50,203<br />
Investment income (Note 4) 90,803 - 90,803 105,920<br />
Literacy research grant 3,530 - 3,530 -<br />
Saskatchewan Teachers’ Federation grant (Note 9) 79,600 - 79,600 74,400<br />
281,868 11,760 293,628 230,523<br />
EXPENSES<br />
Administrative (Note 9) 168,787 - 168,787 141,647<br />
Fundraising campaign 858 - 858 2,467<br />
Governance 3,404 - 3,404 915<br />
Research grants 79,969 - 79,969 64,912<br />
Literacy research grant 3,530 - 3,530 -<br />
256,548 - 256,548 209,941<br />
25,320 11,760 37,080 20,582<br />
UNREALIZED CHANGES IN MARKET<br />
VALUE OF INVESTMENT FUNDS (127,355) - (127,355) 120,576<br />
NET (EXPENSES) REVENUES (102,035) 11,760 (90,275) 141,158<br />
NET ASSETS, BEGINNING OF YEAR 1,806,294 318,500 2,124,794 1,983,636<br />
INTERFUND TRANSFERS 66,659 (66,659) - -<br />
NET ASSETS, END OF YEAR $ 1,770,918 $ 263,601 $ 2,034,519 $ 2,124,794<br />
1<br />
pAge 22 AnnuAl RepoRt <strong>2011</strong>-12
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