annual report

Ukrainian Canadian Foundation of Taras ShevchenkoSUMMARIZED STATEMENTOF FINANCIAL POSITIONMARCH 31, 2012Ukrainian Canadian Foundation of Taras ShevchenkoSUMMARIZED STATEMENT OFoperations and changesin net assetsyear ended MARCH 31, 2012O operations Designated Internment Branch 360 Total TotalF fund Funds Fund Fund 2012 2011ASSETSCURRENT ASSETSCash $ 151,419 - - - 151,419 119,731Deposits with security dealers - - - - - 34,832Accounts receivable 37,886 - - - 37,886 13,966Due from private parties - - - - - 3,432Accrued interest receivable 39,366 - 14,662 3,707 57,735 50,539Prepaid expenses 23,924 - - - 23,924 27,875Due from Internment andBranch 360 fund 434,997 - - - - -687,592 - 14,662 3,707 270,964 250,375INVESTMENTSFoundation 3,492,743 2,551,474 10,097,379 2,552,827 18,694,423 19,508,595Managed funds 8,787,482 - - - 8,787,482 9,091,412CAPITAL ASSETS 37,162 - - - 37,162 49,125ARTIFACTS - - 7,772 - 7,772 7,772$ 13,004,979 2,551,474 10,119,813 2,556,534 27,797,803 28,907,279LIABILITIES AND NET ASSETSCURRENT LIABILITIESOverdrafts with security dealers $ 91,990 - 67,691 17,114 176,795 -Accounts payable and accruedliabilities 73,948 52,012 6,000 3,315 135,275 149,094Deferred revenue 6,054 - - - 6,054 9,657Due to operations fund - - 415,592 19,405 - -171,992 52,012 489,283 39,834 318,124 158,751MANAGED FUNDS 8,787,482 - - - 8,787,482 9,091,4128,959,474 52,012 489,283 39,834 9,105,606 9,250,163NET ASSETSInternally restricted - - - 2,516,700 2,516,700 2,562,673Internally restricted (Schedule 1) - 2,499,462 - - 2,499,462 2,397,745Endowment fund - - 9,622,758 - 9,622,758 10,131,843Invested in capital assets 37,162 - - - 37,162 49,125Invested in artifacts - - 7,772 - 7,772 7,772Unrestricted 4,008,343 - - - 4,008,343 4,507,9584,045,505 2,499,462 9,630,530 2,516,700 18,692,197 19,657,116$ 13,004,979 2,551,474 10,119,813 2,556,534 27,797,803 28,907,279O operations Designated Internment Branch 360 Total TotalF fund Funds Fund Fund 2012 2011REVENUEDonations $ 373,968 76,634 2,500 - 453,102 545,098Designated donations 212,413 - - - 212,413 -Kobzar Literary Award ‐ donations - 78,000 - - 78,000 1,500Interest ‐ bonds 16,850 6,831 48,251 12,069 84,001 237,065‐ deposits 14,188 15,314 (8,109) - 21,393 21,754Dividends 75,113 30,444 215,869 51,934 373,360 253,978Gain (loss) on sale ofinvestments 101,001 40,936 213,440 68,886 424,263 (294,575)Special project ‐ golf tournament 12,324 - - - 12,324 -Management fees ‐ managedfunds 113,445 - - - 113,445 95,589Projects - - - - - -Avramenko Project 603 - - - 603 2,266John Syrnyck Award - - - - - -Kobzar Literary Award Program 30,790 - - - 30,790 2,805Sundry 216 - - - 216 3,579950,911 248,159 471,951 132,889 1,803,910 869,059EXPENSES (Schedule 2) 563,576 - 209,307 32,191 805,074 816,758EXCESS (DEFICIENCY) OFREVENUE OVER EXPENSESBEFORE OTHER ITEMS 387,335 248,159 262,644 100,698 998,836 52,301OTHER ITEMSProject expenses - - - - - -Avramenko Project (603) - - - (603) (2,266)John Syrnyck Award - - - - - (4,632)Kobzar Literary Award Program (165,155) - - - (165,155) (69,310)Grants paid (345,426) (62,132) (339,145) (23,000) (769,703) (504,602)Designated donations (212,413) - - - (212,413) -Unrealized gain (loss) on investments (175,316) (84,310) (432,584) (123,671) (815,881) 1,075,944(898,913) (146,442) (771,729) (146,671) (1,963,755) 495,134EXCESS OF REVENUEOVER EXPENSES (511,578) 101,717 (509,085) (45,973) (964,919) 547,435NET ASSETS,BEGINNING OF YEAR 4,557,083 2,397,745 10,139,615 2,562,673 19,657,116 19,109,681NET ASSETS, END OF YEAR $ 4,045,505 2,499,462 9,630,530 2,516,700 18,692,197 19,657,116APPROVED BY THE BOARD:DIRECTOR DIRECTOR48 || 49