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

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DR. STIRLING MCDOWELL FOUNDATION FOR RESEARCH INTO TEACHING INC. NOTES TO THE FINANCIAL STATEMENTS year ended June 30, 2012 3. SIGNIFICANT ACCOUNTING POLICIES (continued) Financial Instruments (continued) Embedded derivatives (elements of contracts whose cash flows move independently from the host contract) are required to be separated and measured at fair values if certain criteria are met. Management reviewed all active contracts for embedded derivatives, and determined there are no non-financial derivatives or significant embedded derivatives in contracts that require separate accounting and disclosure. 4. INVESTMENT FUNDS 2012 2011 Pooled Investment Funds Fixed income $ 1,010,744 $ 1,134,854 Canadian equities 800,107 923,605 Short-term 125,252 85,502 1,936,103 2,143,961 Other 15 15 $ 1,936,118 $ 2,143,976 The Foundation’s investment income is as follows: 2012 2011 Interest $ 1,487 $ 1,046 Other income 1,286 - Dividends 67,949 79,891 Gain on sale of investment funds 20,081 24,983 $ 90,803 $ 105,920 5. CAPITAL ASSETS Accumulated Net Book Rates Cost Amortization Value Furniture 15 yrs. 2,361 (157) 2,204 Computer hardware 3 yrs. 986 (657) 329 2012 Totals $ 3,347 $ (814) $ 2,533 2011 Totals $ - $ - $ - AnnuAl RepoRt 2011-12 pAge 27
DR. STIRLING MCDOWELL FOUNDATION FOR RESEARCH INTO TEACHING INC. NOTES TO THE FINANCIAL STATEMENTS year ended June 30, 2012 6. EXTERNALLY RESTRICTED NET ASSETS In some instances, the donor has specified the gift to the Foundation be held for 10 years. The aggregate amount of donations received under these directions will be available for use in general operations as follows: June 30, 2013 $ 49,500 June 30, 2014 61,400 June 30, 2015 20,900 June 30, 2016 22,500 June 30, 2017 33,700 June 30, 2018 14,100 June 30, 2019 13,900 June 30, 2020 17,300 June 30, 2021 18,400 June 30, 2022 11,901 $ 263,601 7. GRANT COMMITMENTS The aggregate maximum grant payments under the terms of the research awards are as follows: 2013 $ 6,322 2014 8,080 In some instances the payments to the grant recipients will be less than the amounts stated in the research awards, and as a result, the above amounts may decrease. pAge 28 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 and 26: DR. STIRLING MCDOWELL FOUNDATION FO
Page 29: DR. STIRLING MCDOWELL FOUNDATION FO
Page 35 and 36: Donors to the McDowell Foundation i

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