Financials – The WoodGreen Foundation
Neighbours helping neighbours. This is what makes a city vibrant and strong. For more than 80 years, our donors have embodied this spirit of community through their compassion and their generosity. We are profoundly grateful.
Most of us would agree that our city is facing growing disparity between wealth and poverty. We see an urgent need to create real change in order to ensure equitable opportunities and access for all. We realize that if we want a healthy, livable city, we need to address the issues affecting the most vulnerable members of our society.
WoodGreen Community Services has been addressing these challenging social concerns for more than 80 years and can attest that meaningful long-term solutions require significant investments. However, major philanthropic support for the social service sector has traditionally lagged behind support for higher-profile causes such as hospitals and arts organizations.
It is with this in mind, that WoodGreen has been building a Foundation Board of individuals who want to help shine a spotlight on the social services sector as a deserving and critical focus for greater support and investment.
In this Annual Report, we are pleased to introduce you to our expanded Board, an outstanding group of influential and passionate change-makers. These business and philanthropic leaders hope to join with you to draw attention to and investment in WoodGreen, and ultimately enable us to bring solutions to many of the critical issues facing our city.
WoodGreen offers an outstanding mix of exceptional innovation, comprehensive wrap-around services, and a compassionate and highly-skilled approach to effecting change. As we look to the year ahead, we are inspired by the unprecedented opportunities to empower our marginalized neighbours to transform their lives, reset their futures and help break the cycle of poverty.
The continuing support of donors like you, strengthens and motivates us in all we do. With your generosity, WoodGreen Community Services has made great strides in creating new paths to opportunity for some of Toronto’s most vulnerable individuals and families—and, now, we are poised to make even greater leaps.
Thank you for your trust in our work and your commitment to a healthier, more equitable city for all.
With gratitude,
Leo Salom
Chair, The WoodGreen Foundation
Teresa Vasilopoulos
Executive Director, The WoodGreen Foundation
THE WOODGREEN FOUNDATION
COMMUNITY CARE EAST YORK FUND
| 2018 | 2017 | |
|---|---|---|
| $ | $ | |
| Closing Balance | 1,219,705 | 1,211,462 |
| Opening Balance | 1,211,462 | 1,183,443 |
| RECEIPTS | ||
| Donations | 851 | 10,229 |
| Investment income earned on fund balances | 7,392 | 17,790 |
| Total | 1,219,705 | 1,211,462 |
| DISBURSEMENTS | ||
| Less: Donations to WoodGreen Community Services ** | - | - |
THE WOODGREEN FOUNDATION
CONDENSED STATEMENT OF REVENUE
AND EXPENSES – 2017-2018 FISCAL YEAR
| 2018 | 2017 | |
|---|---|---|
| $ | $ | |
| Excess of revenue over expenses | 1,434,246 | 470,880 |
| Fund Balances - beginning of year | 4,135,507 | 3,664,627 |
| Fund Balances - end of year | 5,569,753 | 4,135,507 |
| REVENUE | ||
| Donations | 1,980,758 | 1,063,186 |
| Special events | - | - |
| Investment income and change in fair value of investments | 34,875 | 37,103 |
| Total | 2,015,633 | 1,100,289 |
| EXPENSES | ||
| Fundraising and special events | 54,540 | 9,660 |
| Administrative | 111,120 | 80,461 |
| Amortization of capital assets | - | - |
| Total | 165,660 | 90,121 |
| Excess (deficiency) of revenue over expenses before donations | 1,849,973 | 1,010,168 |
| Donations to WoodGreen Community Services | (415,727) | (439,288) |
| Donations to WoodGreen Community Housing Inc. | - | - |
| Donations to WoodGreen Settlement Corporation | – | (100,000) |