2011-2012 Annual Report - Dr. Stirling McDowell Foundation for ...

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DR. STIRLING MCDOWELL FOUNDATION FOR RESEARCH INTO TEACHING INC. STATEMENT OF CASH FLOWS year ended June 30, 2012 OPERATING RESTRICTED FUND FUND 2012 2011 CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES Net (expenses) revenues $ (102,035) $ $ 11,760 $ (90,275) $ 141,158 Interfund transfers 66,659 (66,659) - - Adjustments for Amortization 431 - 431 - Realized gain on sale of investment funds (20,081) - (20,081) (24,983) Unrealized changes in market value of investment funds 127,355 - 127,355 (120,576) 72,329 (54,899) 17,430 (4,401) Changes in non-cash working capital Accounts receivable (9,942) - (9,942) 41 Due to (from) Saskatchewan Teachers’ Federation (3,727) - (3,727) 23,349 Due to Restricted Fund (54,899) - (54,899) (39,300) Due to (from) Saskatchewan Teachers’ Retirement Plan (2,815) - (2,815) - Due from Operating Fund - 54,899 54,899 39,300 Accounts payable (4,197) - (4,197) 1,910 Deferred revenue 6,596 - 6,596 - 3,345 - 3,345 20,899 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES Additions to capital assets (2,964) - (2,964) - Investment fund purchases (268,247) - (268,247) (387,906) Investment fund disposals 368,831 - 368,831 347,000 97,620 - 97,620 (40,906) NET INCREASE (DECREASE) IN CASH 100,965 - 100,965 (20,007) CASH POSITION, BEGINNING OF YEAR 25,726 - 25,726 45,733 CASH POSITION, END OF YEAR $ 126,691 $ - $ 126,691 $ 25,726 AnnuAl RepoRt 2011-12 pAge 23
DR. STIRLING MCDOWELL FOUNDATION FOR RESEARCH INTO TEACHING INC. NOTES TO THE FINANCIAL STATEMENTS year ended June 30, 2012 1. DESCRIPTION OF OPERATIONS Dr. Stirling McDowell Foundation for Research Into Teaching Inc. (the “Foundation”) is incorporated under The Non-profit Corporations Act, 1995 of Saskatchewan and is registered as a charity with Canada Revenue Agency. The Foundation is established to support research and dissemination to the public of information focusing on instruction (both teaching and learning) in the context of the public elementary and secondary education system. As per The Teachers’ Federation Act, 2006, the Saskatchewan Teachers’ Federation is the trustee for the assets of the Foundation. The Saskatchewan Teachers’ Federation provincial Executive appoints an administrative board and has delegated the management of the Foundation to the Board of Directors. 2. FUTURE ACCOUNTING POLICY CHANGE Not-for-Profit Organizations The Accounting Standards Board (“AcSB”) has finalized and issued Part III of the Canadian Institute of Chartered Accountants (“CICA”) Handbook as accounting standards for not-for-profit organizations in the private sector. These standards are effective for fiscal years beginning on or after January 1, 2012. Not-for-profit organizations will be required to apply either Part I of the CICA Handbook which consist of International Financial Reporting Standards (“IFRS”) or Part III of the CICA Handbook. The Foundation has chosen to apply Part III of the CICA Handbook and does not anticipate that these standards will have a significant impact on the financial statements in future periods. 3. SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Foundation have been prepared in accordance with Canadian generally accepted accounting principles (“GAAP”) and reflect the following significant policies: pAge 24 AnnuAl RepoRt 2011-12
Page 1 and 2: AnnuAl RepoRt Dr. Stirling McDowell
Page 3 and 4: Contents Message From the President
Page 5 and 6: Message From the Manager New Beginn
Page 7 and 8: Boards, Committees and Staff in 201
Page 9 and 10: The Work of the McDowell Foundation
Page 11 and 12: Table 2 shows the geographic distri
Page 13 and 14: the writing of the final report as
Page 15 and 16: 2011-12 learning from Practice conf
Page 17 and 18: Fundraising Strategic DirectionS: 1
Page 19 and 20: Table 7 breaks down the donations t
Page 21 and 22: Lanette Kuchenski was hired as mana
Page 23 and 24: Basis for Qualified Opinion In comm
Page 25: DR. STIRLING MCDOWELL FOUNDATION FO
Page 29 and 30: DR. STIRLING MCDOWELL FOUNDATION FO
Page 35 and 36: Donors to the McDowell Foundation i

2011-2012 Annual Report - Dr. Stirling McDowell Foundation for ...

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