The Pierre Elliott Trudeau Foundation Annual Report 2014–2015

Statement of Changes in Net Assets
For the year ended August 31, 2015
Statement of Revenues and Expenses
For the year ended August 31, 2015
Restricted for
endowment
purposes
Invested in
property and
equipment
and intangible
assets
2015 2014
Internally
restricted Unrestricted Total Total
$ $ $ $ $ $
(note 10) (note 11) (note 12)
Balance — Beginning of year 125,000,000 917,543 20,625,000 1,423,287 147,965,830 145,412,390
Excess of revenues over
expenses (expenses over
revenues) for the year – (110,556)
– 2,132,327 2,021,771 2,553,440
Restricted portion of excess
of revenues over expenses
(expenses over revenues)
for the year – – 1,875,000 (1,875,000)
– –
Investment in property
and equipment
and intangible assets – 7,151 – (7,151)
– –
Balance — End of year 125,000,000 814,138 22,500,000 1,673,463 149,987,601 147,965,830
Revenues
2015 2014
$ $
Interest 4,188,165 4,618,716
Net gain on disposal of investments at fair value 514,297 464,128
Net unrealized gain on investments at fair value 3,275,160 2,668,441
Donations (note 17) 634,461 122,151
Expenses
8,612,083 7,873,436
Public Interaction Program (note 16 b)) 2,357,197 1,267,885
Fellowship Program 988,758 577,044
Scholarship Program 1,188,420 1,308,215
Mentorship Program 169,823 186,006
Administration (note 18) 430,417 466,665
Program planning and delivery (note 18) 1,203,105 1,193,727
Investment counsel fees 252,592 320,454
6,590,312 5,319,996
Excess of revenues over expenses for the year 2,021,771 2,553,440
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