2015 Annual Report - Parks Foundation Calgary

PARKS FOUNDATION, CALGARY
ANNUAL REPORT
2015
CONTENTS
1
2
3
5
6
7
8
12
13
14
15
16
17
18
19
20
29
30
About Us
Our Mission
Letter from the Chairman & CEO
Board of Governors
Staff
Committees
Rotary/Mattamy Greenway
Project Gift Administration Program
Conceptual Drawing Grant
Building Communities Program
Bench Dedication Program
Amateur Sport Grant Program
The John Currie Amateur Sport Legacy Fund
Art Smith Amateur Sport Legacy Fund
Jack Leslie Youth Environment Award
Donors
Letter from the Treasurer
2015 Financials
ABOUT US
Parks Foundation Calgary (PFC) is a non-profit
organization dedicated to improving the lives
of all Calgarians. Since its establishment in
1985, as an agent for The City of Calgary, PFC
has been the guardian of our community’s
natural environment by making true the
dreams of individuals, organizations and
communities that wish to create and enhance
the City’s parks and green spaces. With an
emphasis on communities of lesser means, our
focus is on preserving Calgary’s heritage and
natural beauty, ensuring that new parks and
open spaces are developed, amateur sport is
encouraged and our ecologically significant
river valleys are preserved.
1
OUR MISSION
We make Calgary a great city for its residents
and guests by enhancing healthy lifestyle
enjoyment through providing easily accessible,
unique, recreational, sport and green spaces
in our community.
2
LETTER FROM THE CHAIRMAN & CEO
sponsorship of Calgary and area Rotary Clubs and
Dear Friends of Parks Foundation Calgary:
2015 was another successful year for Parks
Foundation Calgary with revenue for operations
exceeding expenses, and milestones in each of
our core programs and in the Rotary/Mattamy
Greenway major capital project.
Through
our
Building
Communities
Mattamy Homes is a key factor in the acceleration
of Parks Foundation Calgary’s largest project in its
three decade history. The final $2 million needed
to complete this iconic project is a high priority
and the subject of government funding proposals
currently in circulation.
Program
template, another 11 playground projects were
completed, valued at more than $2 million. This
brings the total number of projects constructed
under this grant program to 111 since it was
initiated in 2009. Applications to our Amateur
Sport Grant Program increased by 21% over the
previous year. Over the year, 68 memorial benches
There is one key reason for the success this
foundation continues to achieve: the partnerships
that have been forged with every sector of our
community. Those who share our vision and join in
our efforts are the backbone of our organization.
We are indebted to each and every one of
our partners.
were sponsored – the largest annual number since
We
the Bench Dedication Program began in 1990.
Calgary and Government of Alberta for their
Once again, we achieved remarkable progress on
recognize
in
particular,
the
City
of
on-going support.
the Rotary/Mattamy Greenway project. By year-
We thank Jim Davidson, Fund-Raising Chairman
end 2015, the 138 km Greenway park and pathway
for his contributions to the Rotary/Mattamy
network was 93% complete with only 10 km of
Greenway, as well as the dozens of corporations
pathway remaining to be constructed. The title
and individuals who support this major capital
3
>
project. Calgary-area residential developers are
Committee, Amateur Sport Grant Committee and
also key donors, providing in-kind building support
Advisory Council.
for a large percentage of the Rotary/Mattamy
Greenway project.
to continue to play a part in making Calgary one
Finally, we can accomplish nothing without
our
have
wonderful
supported
In this, our 31st year of operation, we are proud
volunteers,
Parks
some
of
Foundation
whom
Calgary
for many years. Specifically, we thank the
members of our Board of Governors, Finance
of the best places in the world to live.
Sincerely,
J.R. Houghton, Board Chairman
& Myrna Dubé, CEO
4
BOARD OF GOVERNORS
Back Row (left to right): Don Baird, Ian Playfair, Gregory Forrest, Mary Federau, Jim Davidson, Kim Koss
Front Row (left to right): Bob Nasser, Kristin Yarish, Anne Charlton, Myrna Dubé, John Houghton, Mark
Terrill, Keith MacLeod, Dave Ardell, Frederick Nicholson
Missing: Sherry Austin, Gerry McHugh
John Houghton, Chairman
Barrister & Solicitor
Myrna Dubé
CEO
Parks Foundation Calgary
Frederick Nicholson, Treasurer
Principal, Trivest
Mark Terrill, Past Chairman
President & CMO
Jones Brown Inc.
Jim Davidson
Executive Chairman
FirstEnergy Capital Corp.
Dave Ardell
Director
Alberta Environment
5
Sherry Austin
President, Executive
Consulting Services
Keith MacLeod
Chair of the Canada-Nova Scotia
Offshore Petroleum Board
Don Baird
President, D.T. Baird Business
Consulting
Gerry McHugh
Manager, Parking &
Transportation Services
Mount Royal University
Anne Charlton
Director, Parks
City of Calgary
Mary Federau
Executive Vice President
Mattamy Homes
Gregory Forrest
Barrister & Solicitor
Kim Koss
VP, Business Development
Calgary Chamber of Commerce
Bob Nasser
Director, Wealth Management
Scotia Mcleod
Ian Playfair
Investment Advisor
BMO Nesbitt Burns Inc.
Kristin Yarish
Associate
Field LLP
STAFF
>
From left to right: Sheila Ferguson, Stephen Duncan, Alyshia Auston, Myrna Dubé, Sara Stepa, Karla Gervais, Dolores Sakauye
Myrna Dubé
CEO
D. Stephen Duncan
Controller
Dolores Sakauye
Accounting Manager
Karla Gervais
Greenway Project Manager
Alyshia Auston
Communications & Amateur Sport Grant Manager
Sheila Ferguson
Executive Assistant and Bench Program Manager
Sara Stepa
Grant Program Coordinator
6
COMMITTEES
Executive Committee
Advisory Council
John Houghton, Chairman
Bill Selby
Mark Terrill, Past Chairman
Gord Brown
Frederick Nicholson, Treasurer and Finance
Walter Chayka
Committee Chairman
Terry Hawitt
Jean Hendry
Finance Committee
Al Schreiner
Frederick Nicholson, Chairman
Patrons Council
Ian Playfair, Past Chairman
M. Blake Walker
Jim Davidson
Mark W. Fletcher
Scott Bratt
John Zeller
Paul Colborne
David Inhaber
Vincent Chahley
Robert Harper
John Dielwart
Don Baird
Dr. Chen Fong
John Langille
Saddledome Amateur Sport Committee
Dave Ardell, Chairman
Ryan Boyd
Greg Forrest
Tanya Kahanoff
Julie McSweeny
Greg Dycke
Perry Cavanagh
Sue Scott
7
Ron Poelzer
Ruth Ramsden-Wood
Scott Saxberg
ROTARY/MATTAMY GREENWAY
>
The Rotary/Mattamy Greenway project has hit some
amazing milestones in its six-year history. The 138 km
walking, biking, running and boarding pathway system,
with its mix of specialty urban parks, is now in its third
and final phase. With just over 10 km remaining to
connect this gigantic pathway wheel around the entire
City of Calgary, it is nearing completion.
• The long-awaited pedestrian railway crossing in
phase one which was completed in-kind by CN Rail
and will now allow for the construction of the one
km connecting pathway.
Parks Foundation Calgary’s largest capital project ever
is now approximately 93% complete and 96% funded,
with a projected completion date of June 2017.
Parks Foundation Calgary hosted a successful and wellattended event in September 2015 to celebrate the
third and final phase of the Rotary/Mattamy Greenway.
Held in the Mattamy community of Cityscape, the
event allowed us to thank many of the supporters,
developers and corporate sponsors in phase three.
Once again, we received positive media coverage with
multiple newspaper and magazine articles — including
a national article in the Globe and Mail — and coverage
by numerous television outlets.
When finished, the Rotary/Mattamy Greenway will
connect 55 communities and more than 400,000
residents in Calgary. More importantly, it will offer
spectacular recreational pathways and unique parks
that will be open to every Calgarian, free-of-charge,
365 days a year.
At a total cost of more than $55 million, the Greenway
project has realized amazing results through
collaboration with our two title sponsors — Mattamy
Homes and the Rotary Clubs of Calgary and area —as well
as many other valued partnerships with corporations,
charitable organizations, individual donors, and all
levels of government.
The construction season in 2015 saw completion of
several missing links that brought Parks Foundation
closer to its goal of completing the pathway loop in
2017. Links completed in 2015 include:
• The connection at Airport Trail north east in the
community of Saddleridge that connects phase one
to Cityscape.
Parks Foundation Calgary now has its biggest project
challenge ahead as it moves to complete the third and
final phase of this world-class project. That challenge
is to secure funding for the final 10 km of the 138 km
pathway loop around the entire city.
The 2016 construction season will see continued efforts
by all members of the Rotary/Mattamy Greenway team
to realize our construction completion goal in 2017.
• The pathway connection along Sarcee Trail SW,
featuring an unique poppy memorial sponsored by
Progress Energy.
• The pathway surrounding the Cityscape
wetlands in the north east, completed in-kind by
Mattamy Homes.
• The pathway connection at Inland Fields
Athletic Park.
8
QUICK FACTS ABOUT THE
ROTARY/MATTAMY GREENWAY
Open 365 days/year
FREE of charge and accessible to everyone
138 km of pathways, outdoor parks and natural areas
Up to 25 specialized parks located along the
Rotary/Mattamy Greenway
Connects 55 communities together and more than
400,000 Calgarians
9
ROTARY/MATTAMY GREENWAY
PARTNERS
>
Our title sponsors are the Rotary Clubs of Calgary and area; and Mattamy Homes, Canada’s largest homebuilder.
Other generous supporters include:
Jim Davidson
Star Valley
Oil & Gas
Don & Hazel
Skinner
Dave & Penny Wilson
Family Foundation
Allan Markin
Murray
Edwards
10
Rotary/Mattamy Greenway
PARKS FOUNDATION CALGARY • THE ROTARY CLUBS OF CALGARY AND AREA • MATTAMY HOMES
Funded and Completed
by Year End 2016
pathway by the City of Calgary
pathways not completed
pathways constructed by developers
existing pathways
For an interactive map, visit the City of Calgary
Pathways & Bikeways app: Calgary.ca
For more information visit: ParksFdn.com
11
PROJECT GIFT
ADMINISTRATION PROGRAM
>
Parks Foundation Calgary’s Project Gift Administration Program
supported a total of 15 community-driven projects in 2015 including
the following projects:
•
Andrew Sibbald School Playground Resurfacing
•
Belfast School Outdoor Beautification & Naturalization Project
•
Capitol Hill School Outdoor Project
•
Dovercroft Place Playground
•
Hawkwood Playgrounds (4)
•
Kingsland: Loomis Park
•
Lake Emerald Crescent Playground
•
Manchester Playground
•
Queen Elizabeth Elementary School Playground
•
Silverado Skating Rink
•
Springhill Ranch Housing Co-op Playground
•
Stanley Park Diamond Upgrade
•
Taradale Outdoor Fitness Park
•
Twin Views Garden
•
UES Kindergarten Play Area Revitalization
12
CONCEPTUAL DRAWING GRANT
The Conceptual Drawing Grant awards up to $5,000 as seed money for projects to hire a landscape architect
to create drawings that reflect a unique project vision. The program supports projects that will significantly
benefit and enhance Calgary’s park spaces. In 2015, Parks Foundation Calgary awarded seven conceptual
drawing grants to the following organizations/projects:
•
Hawkwood Community Garden Committee
•
Belfast School Fundraising Society
•
Demonstration Imagination Playground
•
Capitol Hill Outdoor Project
•
Hawkwood Park Enhancement Project
•
Ecole St. Pius X School Natural Playground
•
William Reid School Park Project
13
BUILDING COMMUNITIES (BC)
PROGRAM
Throughout 2015 the Building Communities Program was
successful in helping 11 communities bring playground
projects to completion around the city. These projects
varied in size and included two accessible playgrounds,
a fitness park and two unique naturalized playgrounds.
This year’s projects are valued at approximately
$2.3 million.
The program supported many communities and schools
that may not have had the capacity to independently
take on a large capital project like a playground. Our
support to these projects extended beyond our grant
funding and also included accounting services, ongoing support of the playground planning process, and
leveraging additional funding from other grant sources.
We continued to work alongside our communities to
engage volunteers that would help reduce installation
costs to the playgrounds. This added support and
commitment allows the BC program to be successful
year after year.
Two unique naturalization parks spaces were supported
and initiated by the BC program in Haysboro and Forest
>
Lawn. The installation of these parks marked success
in bringing nature back to play, allowing children
to exercise their imagination outdoors. We hope
to see continued examples of natural playgrounds
and spaces.
Projects completed in 2015, with the help of the Building
Communities Program, include:
•
Crescent Heights Playground Phase 2
•
Edgemont Community Playground
•
Elbow Park Playground
•
Forest Lawn Natural Playground - Phase 1
•
Haysboro Natural Playground - Phase 1
•
Highwood School Playground
•
Killarney/Glengarry Accessible Playground
•
Maple Ridge School Playground
•
Scenic Acres Community Playground
•
West Dalhousie School Accessible Playground
•
12 Mile Coulee Fitness Park/Playground
14
BENCH DEDICATION PROGRAM
2015 was a very successful year for the Bench Dedication
program, with a record 68 memorial benches sponsored
within City of Calgary parks and pathways.
To reduce maintenance costs and increase bench lifecycle, older cedar benches continued to be replaced
with red meranti wood throughout the city.
15
Devonian Gardens was recently restored and, for
the first time, memorial benches became available
for sponsorship in this highly desirable and unique
indoor area.
AMATEUR SPORT GRANT
PROGRAM
>
The partnership that began in 1987 between Parks Foundation Calgary, the Calgary Flames and the Saddledome
Foundation has continued to thrive, awarding more than $12 million in grants to amateur sport organizations in
Calgary. In 2015, the number of grant applicants increased, going from 23 applications received in 2014 to 28
applications this past year.
18 grants totaling just over $1 million were awarded in 2015:
•
Calgary Renegades Water Polo
•
Millican Ogden Community Association
•
Deer Run Community Association
•
Cal-Glen Soccer Club (for Soccer Without Boundaries)
•
Alberta Tennis Association (for Alberta Tennis Acadia Tennis Centre)
•
Acadia Community Association
•
Cornerstone Youth Centre (Calgary) Society
•
Foothills Academy Society
•
Calgary Horseshoe Club
•
Alberta Handball Association
•
Alberta Sledge Hockey Association
•
Bishop O’Byrne High School
•
Calgary Biathlon Racers
•
Rocky Ridge Royal Oak Community Association
•
Urkrainian Youth Association of Canada
•
Alberta Alpine Ski Association
•
Haysboro Community Association
•
Huntington Hills Community Association
16
THE JOHN CURRIE AMATEUR
SPORT LEGACY FUND
In 1983, Calgary hosted its largest amateur sport
competition, the Western Canada Summer games, for
which Talisman Centre was originally designed and
built. At the conclusion of the successful event, a
Legacy Fund of $250,000 was established to support
amateur athletes and amateur sport. Inspired by this
commitment to amateur sport, in 2012, a second Legacy
Fund was established with the goal of raising $750,000,
thereby, increasing the value of the combined funds to
$1 million.
Jennifer Brown: Track and Field, CALTAF
The Legacy Fund was renamed The John Currie Amateur
Sport Legacy Fund in honour of John Currie, community
champion, President of the 1983 Western Canada
Summer Games and a key figure in the development and
funding of the Talisman Centre, the flagship facility of
the Games.
Russell Pennock: Triathlon, Talisman Centre Junior
Triathlon Club
In 2015, The John Currie Amateur Sport Legacy Fund
provided bursary awards to the following amateur
athletes with financial need in Calgary, to provide
training and competition support for their athletic goals:
Talisman Energy Bursary Recipient:
Yuri Kisil: Swimming, Cascade Swim Club
Lindsay Park Sports Society Bursary Recipient:
Justin Boyd: Water Polo, Water Polo Canada
17
John Conway: Water Polo, Water Polo Canada
Kyra Christmas: Water Polo, Calgary Renegades Water
Polo Club/Water Polo Canada Junior
Aretehya Haberman: Rhythmic Gymnastics, Chinook
Rhythmique Gymnastics Club
Ashley McCool: Diving, Dive Calgary
Caeli McKay: Diving, Dive Calgary
Nina Pavlovic: Rhythmic Gymnastics, Chinook
Rhythmique Gymnastics Club
Halle Pratt: Synchronized Swimming, Calgary
Aquabelles Synchronized Swimming Club
Taryn Pratt: Swimming, Cascade Swim Club
Joshua Riker-Fox: Modern Pentathlon, Ares Pentathlon
& Fencing Club
Brooklynn Snodgrass: Swimming, Cascade Swim Club
Ingrid Wilm: Swimming, Cascade Swim Club
Jenna Westaway: Track and Field Calgary International
Track Club / Brooks Running Club
ART SMITH AMATEUR
SPORT LEGACY FUND
>
Since 2000, Parks Foundation Calgary and the Calgary Booster
Club have partnered to award bursaries to amateur athletes
through the Art Smith Amateur Sport Legacy Fund. Art Smith was
a great Calgarian and supporter of amateur athletes in the city
and this fund continues his legacy.
In 2015, the Art Smith Amateur Sport Legacy Fund awarded
bursaries to 13 athletes to support their athletic pursuits:
Aleksa Stanic - Water Polo
Melissa Lotholz - Bobsleigh
Alexandra Lanculescu - Long Track Speedskating
Alysia Rissling - Bobsleigh
Brenley Martin - Acrobatic Gymnastics
Brooke Apshkrum - Luge
Daina Tuchscherer - BMX
Derek Plug - Bobsleigh
Halle Pratt - Synchronized Swimming
Kris Atkinson - Freestyle Skiing Halfpipe
Richard MacLennan - Long Track Speedskating
Chad Bobrosky - Swimming
Christine de Bruin - Bobsleigh
18
JACK LESLIE YOUTH
ENVIRONMENT AWARD
Cristina Acevedo & Morgan Weatherbie
for the Kids Nature Camp Project
Creating an opportunity for elementary school children from lowincome families to go to the mountains to enjoy, and learn about,
nature and the outdoors. The goal is to connect disadvantaged youth
to the stunning natural environment we are so lucky to have just
outside of Calgary. Through this experience they hope to inspire youth
to discover something new about nature and encourage them to live a
more sustainable lifestyle.
Sir Wilfred Laurier School
for the Community Garden Project
Aiming to transform a piece of land from a space with rubbish and
weeds, into a garden with beds of herbs and vegetables. The garden
project is a simple idea which will impact youth at Sir Wilfred Laurier
and the surrounding community. The youth will learn how to grow
food, produce and successfully market value-added products, follow
a small social enterprise from the ground up, and give back to their
community. This youth-led, community-based model will provide
hands-on learning that will be especially beneficial for easing the
transition of new immigrant youth within the school/community.
19
>
DONORS
Parks Foundation, Calgary (PFC) would
sincerely
like
to
thank
all
donors
who have supported the projects and
programs that took place in 2015.
While every attempt has been made to
ensure the accuracy of this information,
we sincerely apologize for any errors
or omissions.
ACE Child Development Playground
Fund
ACE Child Development Centre
Alberta Biathlon Club
The Gernot Kostera Charitable
Foundation
Art Smith Legacy Fund
Calgary Booster Club
Battalion Park Project
Battalion Park
Coril Holdings LTD.
Hays, Daniel
Target Canada
United Way, Donor Choice Program
Bench Dedication Program
Aarsby, Clint and Marsha
Abdi, Philomena
Adaskin, Dorethea
Armstrong, Anthony
Bader, Marlene
Bannon, Dorothy
Barak, Joseph
Barkley, Randy
Bergman, Jill
Bezanson, Allan and Sandy
Biasutti, Loretta
Bird, Loraine
Black, Helen
BMC and Associates
Boiteau, Paul
Boscom, Kathleen
Boucher, Paul
Bowden, Beverley
Bowles, Marc
Boyce, Maureen
Brooks, Jo and Roger
Brown, Allan
Brown, Donna
Brown, Joyce
Buconjic, Marija and Steve
Butters, Wayne
Byrne, Clare
Byrne, Patrick
Byrne, William
Cairns, Ken
Calder, Cherry and Jim
Chill, Grace
Chivers, Abbe
Christopher James Doig Professional
Corp
Ciezki, Rick
City of Calgary
Claussen, Caroline
Cochrane, Shawna
Code, Geoffrey
Coles, Jodi
Coles, Kelly
Corbett, Jessica
Craig, Karen
Crescent Heights Community
Association
Cristea, Cristina
Cush, Michael
Dallas Development Corp
Debolt, Sandra
deBruyn, Joan
Degasparro, Susan
Degenhardt, Colleen
Denholm, Brenda
Dharamdial, Camal
Diede, Dora
Donaldson, Anne
Doyle, Aisling
Dronyk, Dwayne
Duarte, Juvenal
Dunham, Michael B.
Dunne, Fiona
Duprey, Dale
Earle, Jordan
Eremenko, Rick
Ewing, Dale
Ferland, Andre
Findlay, Liz
Finestone, Estate of Patricia
Fischer, Maureen
Fraser, Chris
Friesen, Jennifer
Gair, Joy and Scott
Gelinas, Michael
Gessler, Ray and Ruth
Gibbons, Shannon
Goetting, Laurie
Gohill, Jay
Gratland, Ralph
Guppy, Emma
Hahn, Leszek
Hahn, Margaret
Halbert, Pamela and Darryl
Harcott, Tom
Harding, Gene
Harland, Tom and Deborah
Harms, Laurie
Hart, Michael
Hatelt, Shirley or Marvin
Hatto, Gareth and Gillian
Helal, Rym
Henry, Tim
Highland Park Community Association
Hoenle, Sandra
Horrocks, Cissy
Howes, Steve
Hrynkiw, Lorie
Hua, Joylynn
Iafelice, Phil
Jack, Jamie
James, Patricia
Jarmym, Tammy
Jeffers, Don
Jones, Tracey
Joo, Patricia
Kalef, Michael
Kalef, Robert
Kell, Gerald
Kell, Greg
Kell, Harvey
Kelly, Tiffany
Kenney, Paul
20
Killarney/Glengarry Community
Association
Kimber, Ray
Kindopp, Trevor
Kobayashi, Mitsuru
Koch, Alex
Koch, Gayle
Konachowicz, Barbara
Kovach, Anthony
Krause, Barry and Caroline
Krause, Gary and Sandy
Krocker, Shirley
Kuzmar, Zack
Kvolikowska, Agnieszka
Lajoie, Jessica
Lam, Calvin
Lambert, Nela
Lamont, Murray
Lawson Projects
Leblanc, Jayne
Lee, Joe
Legge, Violet
Lethaby, John
Locke, Hazel and Frank
Lougheed, Doug
Lowe, Shirley
Lowe, Silvia
MacDonald, A Web
MacKey, Clare
MacLeod, Joan
Magyar, Dan
Matheson, Jane
McCann Family Foundation
McDonald, Fern
McDougall, Nancy
McDowell, Kathleen
McDowell, Michael
McFarlane-Stanford, Jeanette
McGovern, Kerri
McKay, Grace
McLauchlan, George
McLauchlan, Margaret
Meggs, Kari
Merrit, Nancy
Milbers, Annette
Millard, Laura
Millard, Matthew
Millarville General Store
Mills, Don
Mirosh, Jason
Moen, Margaret
Mokly, Sebastian
Morgan, Kaidy
Muller, Allan
Murphy, Terry
Namini, Nadia
Nathanail, Maria
21
Naud, Brianna
Navaroro, Tammy
Near, Kevin
Nowinska, Barbara
O’Connor, Stuart and Martha
Oliver, Carole
Orr, Ann Helen
O’Shea, Janice
O’Toole, Natalie
Pahl, Maria
Parhar, K.
Pasky, Larry
Pastirik, Gregory
Patterson, Jerome
Pattison, Randy
Ponton, Tommy
Ramscar, Belinda
Rasmussen, Gord
Ray, Ashlin
Reimer, Beverley
Reimer, Judy
Reimer, Kelli
Reimer, Lawrence
Riback, Donna
Richard J. Novick Medicine
Professional Corp
Richards, Opel
Rideout, Scott
Robinson, Michael
Roll, Stephanie
Sananikone, Chan
Sargent, Irene
Sarkari, Shahram
Scribbins, Wayne
Seiler, Tamara
Shlahetka, Frances
Smith, Elizabeth
Smith, Karli
Souter, Bill
Spence, Signe
Stegmeier, Cindy
Steinberg, Elliott
Stelfox, Henry
Stephens, Andrew
Strang Family & Strang, Lorraine
Su, Michael
Swift, Phil and Cindy
Sylvester, Adeline
Tacail, Nathalie
Taylor, Michael
Temple, Gary
Tersigni, Domenic
Back Door Youth Employment Society,
The
Lecky Foundation, The
Tian, Yihai
Tully, Bob and Darcy
Tulupava, Alena
Tyminski, Sheila
Vaughan, Kathleen
Viner, Sidney
Waechter, Jason
Walker, Penny
Warshawski, Frank
Watson, Liz
Weerstra, Marjorie
Wershler, Debbie
West, Joyce
Wigelsworth, Robert
Wigglesworth, Elizabeth
Winston, Brent
Zakariasen, Gloria
Zimmer, Teresa
Bike to Work Fund
Bryce A. MCDougall Professional Corp.
Mattamy Homes Limited - Calgary
Stantec Consulting Ltd.
Bio Energy
Stella, Estate of Mario J
Bowness Memorial Monument
Burgher, Catharina J
Clark, Dianna
Johanson, Morris and Mary
Lefrancois, Diana
Martens, Bernd
Merritt, Shirley
Sinclair, Edwin
Wallis, Archibald
Building Playgrounds and
Communities Grant Fund
Churchill Park Family Care Society
City of Calgary
Calgary Foundation for Swimming
Excellence
Birdman, Jan and Amy
Blondal, Michael
Boehm, Gail
Booke, Jeff
Bradley, Noralee
Cannon, Elizabeth
Carter, Brad
Castillo, Juan
Costello, Fiona
de Vileger, David
Docktor, Ben
Flanagan, Colin
Geremia, Danny
Gosal, Gurpreet and Sureenl
Grabowski, Keltie Duggan and Peter
Hansen, Mads
Harper, Elan
Hindmarch-Watson, Chris
Hutchings, Robert
Hyder, Cameron
Jessop, Bridgett
Kostka, David
Loyola, David
Markin, Allan P.
Melton, Todd
Mertz, Kevin
Mitchell, Colin
Morrow, Mike
Morrow, Mike
Myden, Curtis
Newcommon, Jeff
Patrick, Russ
RBC Foundation
Sanderson, Greg
Sanderson, Jacqui
Schjott, Jonathan
SIA Wealth Management
Simonson, Carl
Smith, J.R.
Sribney, Karen
Tyson, Carli
Versfeld, Niels
Willisko, Randi
Wilson, W. Brett
Woodman, David
Calgary Gymnastics Centre Building
Fund
Abboud, Georges and Arlene
Barrett, Jennifer and Ryan
Battista, Jennifer
Bechard, Ryan
Beckett, Alan and Kara
Behl, Sasha
Bell, Arnold Edwin and Maureen M
Bentz, Tyson and Julie
Boucher, Marianne
Braitenbach, Jennifer
Brassart, Gilles and Andrea
Brouillet, Anick
Button, Bonnie
Cairns, Marianne
Carlson, Michelle
Cato, Laurie
Chapman-Csatari, Carolyn
Cheng, Wilbur and Cherene
Chiciloc, Shawna Kent
Chin, Jennifer
Cloghesy, Betty
Coe, Geoffrey Neil
Coombs, Wendy
Copiak, Ken and Donna
Corkey, Dana
Crawford, Alexis
Dalgetty, Tracey and Barrie
Davie, Dwayne
Davies, Clare
Degroot, Bonnie Jean
D’Hondt, Colleen and Trevor
Diamond, Murray Neil & Kimberley J.
Duncan, Penny and Brian
Elias, Terrance
Elsherif, Mohamed
Eremenko, Rick
Fernandes, Dayami
Fitzmartyn, June-Marie Innes
Fleming, Karyn
Fonteyne, Marc
Freeman, Wendy and Colin
Frischbutter, Bryan and Kristen
Fritz, Paul and Sharlene
Giesbrecht, Denise and Dean
Gocal, Michael and Nancy
Goldthorpe, Leanne
Gorsline, Sheree
Grolla, Brock and Jamie
Guban, Tibor
Hall, Brian or Christine
Happy, Colleen
Harder, Brian
Heighington, Dawn
Hernskog, Carin
Ho, Laureen M
Hodgson, Terri Lynn and Douglas Barry
Hopper, Gina
Hopper, Jeff
Hoyem, Kitty
Ian K. Y. Lo Professional Corporation
Ibach, Sheldon and Patricia
Johnson, Gregory
Johnson, Pamela A.
Johnston, Brent and Amy
Kalynchuk, Bryce
Keller, Kurt and Arlana
Kent, Colton
Kern, Mitch and Melissa
King, Danny and Gina
Kirkpatrick, Andrew
Kuznetsov, Alexei
Lavier-Jankovic, Jennifer
Lawrence, Natalie
Lawrence, Peter
Lister, Stephen and Heather
Lonnen, Jermony
Malaschuk, Megan
McCaig, Alan and Kathryn
McDonald, Sandra and Ryan
McGurk, Heather
>
McLellan, Byron and Lori
Melnicenco, Chira
Meyer, Sheri and Corey
Michaud, Esther
Mills, Pamela
Mitla, Tetyana and Vasyl
Mook, Nicole and Jon
Mountain, Annette
Mullin Innes, Carrie
Oh, Grant and Sherry
Onslow, Tammie and John
Owen, John and Jennifer
Pachet, Jennifer
Parker, Duane and Carrie
Pasko, Ryan and Tenneal
Pedersen, Kurt
Perschon, Jay and Barbara
Phaneuf, Greg and Roxane
Probe, Jacqueline and Jason
Rempel, Maureen
Resta, Theresa and Stephen
Richardson, Alison and James
Ross, Alex
Ruttan, Corey and Jayne
Ryane, Alixe and Jaret Leah
Boyle, Collins S.
Saad, Ziad
Sabbagh, Maha
Sawatzky, Kevin and Cyndee
Sawatzky, Trevor
Schweitz, Roland
Sheperd, Emily
Simo, Olga & Hartman, Michael
Sisson, Sharon
Skaper, Joe and Heather
Sletmoen-Radke, Kevin and Julie
Soicher, Deena
Soloski, Dale and Sherry Anne
Stanier, Sarita and Darryl
Stanton, Guy and Angela
Stanway, Johanna
Stein, Dean
Stepien, Kathy
Stowkowy, Steve and Bonnie
Sutton, Stacey
Sweet, Blythe
Tansowney, Shanda
Taylor, Tana
Templeton, Lorne Arthur and Cindy L
Thompson, Krista
Thompson, Teresa and Perry
Timmons, Shannon
Topham, Catherine and Darren
Tully, Darcy
Ulmer, Martha
Vander Meulen, Michael & Gutsell,
Sheri
22
Vecchio-Romano, MT
Vergis, Kelly
Vrablik, Leah
Wennberg, Grant and Aynsley
Wildeman, Sarina
Wishlow, Claudette
Wong, Ray
Wttewaall, Tanya
Calgary Outdoor Swimming Pools
Association
Aqueduct Foundation
Capitol Hill School Outdoor Project
Capitol Hill Community Association
CKE Community Centre
Aizanman, Bill
Arsenault, Brandis
Ayeh, Abenaa
Baillie, Chris
Barnett, Joan
Barrett, Lana
Blackhall, Gael
Broeke, Elizabeth
Broeke, Roger
Bucknum, Elaine
Calgary Foundation, The
Capper, Louise
Charlton, Tom
Clayholt, Louise
Coleman, Ruth R.
Cosman, Frank
Crichton, Andrew
Cuthbertson, John
Daigle, Robin
Davies, Lynne
Dietrich, Janet
Dunn, Carmen and Mike
Elford, Susan and Rod
Elser, Thomas
English, Barb
Falconer, Liane and Greg
Gamage, James
Gift Funds Canada
Gliener, Lisa
Gonis, Lori and Gregory
Halpern, Jackie
Halt, Ed
Halt, Ed and Arlene
Hawrylyshen, Eruie
Hill, B and K
Hill, Barrie
Hind, John
Holmes, Brett
Hons, Ronald and Shirley
23
Jensen, Camille and Lorne
Jewish Community Foundation of
Calgary
Josefchak, JoAnn
Katz, Deborah
Kennelly, Wendy
Konihowski, Diane and John
Kuehner, Melissa
Lipkind, Joel and Salley
Luijkx, Hedy and Gerard
Lundgren, Nadine
Macgowan, Judith
MacLachlan, Judy
Makinson, Michael
Mathews, Bob and Colleen
McArthur, Donald
McGregor, Linda
Messer, Dawn
Messer, Dawn and Tony
Murley, Ian
Murray, Kerrie
Murray, Kerrie
Nexen Energy ULC
Payne, John
Peet, Abenaa Ayeh
Peet, David
Perlettte, Margaret
Prokop, Veronica & Andrekson, Peter
Robitaille, Gerry
Royer, Cindy
Ryckman, Douglas
Schultz, Bill and Ginny
Schultz, William
Skov, Carolyn
Steel, James
Toppings, Barry and Lois
Wallace, Tamara
Wares, Sheila
Watson, Sheila
Williams, Alun and Jo
Williams, Jo
Yeo, Ryan and Deanna
Connaught Park Development
Thomson, John
Crescent Park Playground
Revitalization
Crescent Heights Community
Association
Ho Lem, Stephanie
Discovery Ridge Leisure Facilities Phase II
Marshall, Joanne
Ecole Banff Trail Schoolyard
Naturalization
Ecole Banff Trail School Yard
Development Society
Edgemont Plays
ARC Resources
Coates, Jane
De Boni, Walt and Irene
Edgemont Community Association
Rotary Club of Calgary - South
Elbow Park
Elbow Park Residents Association
Elliston Park
Miklos, Frank and Audrey
Forest Heights Playground
(Forego Ave)
Forest Heights Community Association
Forest Lawn Natural Playground
ANTYX Community Arts Society
Calgary Foundation, The
Tree Canada
Gerry Shaw Park
Calgary Foundation, The
Stanford, Estate of Michael
Hawkwood Playgrounds (4)
City of Calgary
Hawkwood Community Association
Haysboro Community Park
1549548 AB Inc
Anderson, Susan
Arkinson, Cheryl
Arndt, Karen
Aubi, Raymond
Beatty, Dan
Bell, Stefan
Bergamin, Sundie
Boardman, Joan
Boras, Alan
Bosshard, Daniel
Branagan, Kourtney
Brookman, George
Brooks, Stephanie & Dubnyk, Devon
Burrell, Cinnamon
Calgary Foundation, The
Chaput, Helen
Cooley, Ted
Dann, Marilyn
Dares, David
Deans, Ruth
Delaney, Heather
Demers, Lisa
Denney, Lauren
Dickinson, Robert
Dickson, Kerry
Dobson, Neil
Dodd, Kathy
Dorish, Chandelle
Drabiuk, Nick
Emmelkamp-NItsch, Colleen
Enderton, Lianne
Feeney, James
Gaetz, Bernice
Gardiner, Debre
Gorrell, Glenn
Grose, Anna
Haggis, Sally
Hails, Cliff and Margaret
Harrington, Devin
Harris, Jacob
Harrison, George
Hays, Dan and Kathy
Haysboro Community Association
Haysboro Seniors Resource Group
Herdman, Sava
Hill, Sharon
Hollands, Emily
Holub, Milos
Horner, Brian
Howden, Davide
Hutchings, John
Hykaway, Cynthia
Jaramillo, Nydian
Kalef, Diana
Kendall, Megan
Kenno-Hogg, Kara
Kijak, Maciej
Kingston, Phyllis
Kirkham Automotive LTD
Kummer, Paul
Laing, Olivia
Lamont, Norma
Lamoureux, Barbara
Leckie, Rachael
Matheson, Margaret
McAuley, Donald
McClelland, Nancy
McDonald, Donna
McDonald, Karen
Mercer, Paul and Barbara
Mitchell, Miriam
Monica, Majcher
Morrison, Maxine
Neary, Carolyn
Nelson, Kristopher
Nichols, Marion
Oakes, Nicole
Palmer, Wayne
Penman, Joan
Pincott, Brian
Planidin, Jason
Pruden, Al and Joanne
Quiring, Marsha
Ramsay, Brooke
Reiffenstein, Katherine
Reimer, Sara
Renneberg, Keiko
Ross, Dawn
Ross, Ryan
Rud, Susan
Sahlen, Sonja
Sattler, Kevin
Scott, Tina
Selman, Helen
Semos, Denise
Shaw, Robert and Sheri-Lyn
Showcase RE Ltd
Sikora, Henry
Sinnott, Elena and James
Smith, Ab and Terry
South Calgary Ladies Bridge Club
Southland Youth Justice Committee
Southwood, Terry and Catherine
Spencer, Clay
St. Jules, Sandra
Stack, Robert
Stainsby, Saadi
Stasiulis, Albert
Stephan, Charlie
Strategic Realty Management Co
Thill, Irene
Thompson, Paul and Elizabeth
Tulloch, Kathy
Turigan, Morgan
Turk, Jane
Wallbank, Natalie
Ward, Diane and Chris
Welin, Robert
Whittal, Cheryl
Willis, Doreen
Wolf, Linda and Gary
Wolff, Irene
Wright, Joyce
Young, Barry and Noreen
Highwood School Playground
1630790 AB Inc
Chen, Ming
Cheng, Dennis
Dianna Leong Prof Corp
Gao, Tong
Gremo, Nina
>
Highwood School Parent Council
Huang, Shizhong
Hy, Va Nhoc
Larger Enterprises
Lee, Franco
Lee, Mai
Li, Ms Yu Ling
Liu, Yi-Pin
Lok, Elena
Ma, Tai
Ngo, Faye
Shen, Hong
Tang, Hien
Valentine, Paul
Zheng, Shaozhen
Jason Lapierre Memorial (Rotary/
Mattamy Greenway)
Calgary Crankmasters Cycling Club
John Currie Endowment Fund
AD - John Currie Amateur Sport
Legacy Fund
Bratton, Robert
Dixon, James
Kuchinka, Janet
Poweroffice Software Systems
Weber, Stanley
Williams Engineering Canada
Killarney Playground
Redevelopment
1588510 AB Ltd
Anand, Robert
Broda, Renee
Chalmers, Cindy
City of Calgary
Cundall, Robbie and Michael
Dewes, Jill
Dizep, Colleen and Michael
Eglund, Thomas
G&D Holdings Inc.
Glenn-Rigny, Susanne
Herman, Jonathan
Horsman, Bryce and Anne
Juice Creative Inc
Killarney/Glengarry Community
Association
Lonsberry, Amy and Darrell
Madison Builders
Maitland Hare, Marissa
May, Francine
McKeage, Chelsea
Park, Lisa
Presidents Choice Childrens Charity
Pwclark Financial Consulting Inc.
24
Simms, Sarah
Stahl, Shannon Johnson and Neil
Expatriate Group, The
Tsui Chan, Ellen
Walter, Michaela
Lacrosse Facility-Calgary Winter
League Lacrosse Association
Ockey, Danette and Damon
RBC Foundation
Maple Ridge School Playground
Mapleridge School Parent-Teacher
Association
Masters Academy Playground
Masters Academy and College
Operating Fund
Calgary Inter-Faith Food Bank Society
Canadian Online Giving Foundation
Larson, Lorne
Mawer Investment Management Ltd.
POWEROFFICE Software Systems Ltd
Benevity Community Impact Fund, The
Parkdale Garden & Gathering Space
Olafson, Marjorie
Ramsay Community Rink Project
Ramsay Community Association
United Way, Donor Choice Program
River Passage Park
Inglewood Community Association
Rotary/Mattamy Greenway
ARC Financial Corp
Bonavista Energy Corporation
Calgary Herald
Crescent Point Resources Partnership
David and Penny Wilson Family
Foundation
Furlong, Bruce
Keyera Energy Management Ltd.
King, Frank
Lee Overli, Harper
Markin, Allan P.
Massie, Corrie
Nguyen, Khang
Northpoint Development
Pelton, Harry
Pembina Pipeline Corporation
Progress Energy Canada LTD.
Ramsden Wood, Garry
25
Rose, Michael and Susan Riddell
Rotary Club of Calgary
Rotary Club of Calgary - Centennial
Rotary Club of Calgary - Chinook
Rotary Club of Calgary - Fish Creek
Rotary Club of Calgary - Olympic
Rotary Club of Calgary - Sarcee
Rotary Club of Calgary - South
Rotary Club of Cochrane
TELUS Community Affairs
Terrill, Mark
Peter Gilgan Foundation, The
TransCanada Pipelines Ltd.
Widas, David
Saddle Ridge School Playground
Badhan, Narinder
Brown, Mercedes
D3 Vision Inc
Gagneja, Ravi
Kahm, Ashan Ali
Kalra, Ramandeep
Kanagendram, Nirumalini
Khamba, Satnam
Sahota, Jodh
Sharma, Bhasker
Vyas, Piyushkumar
Saddledome Amateur Sport Fund
Saddledome Foundation
Schubert Hill Playground
Kiwanis Club of Calgary Chinook
Kiwanis Club of Calgary Foothills
Casino Account
Kiwanis Club of Calgary Metro
Charitable
Kiwanis Club of Northmount Calgary
Alberta Casino Account
Rotary Club of Calgary
Scenic Acres Community Association
Silver Springs Outdoor Pool
Renovation
Anderson, Roxana
Bentley, Kathryn
Easthope, Linda
Gray, Elaine
Hambly, Esther
Jamison, Allan and Ruth
Kerr-Wilson, Vicki
Kvill, Gerald
Lenz, Kasia
Lounsbury, Kevin and Deborah
McLelland, Kimberly and Ryan
Mullie, Kevin
Peres-da-Silva, Vanessa
Reimer, Robert
Richardson, Marla
Silver Springs School Parent
Association
Simpson, David
Stephen, Bruce
Vermillion Energy Inc
Wagner, Donna
St. Boniface Elementary School
Playground
1476170 AB Ltd Fox Theatre
1646479 AB Ltd
Anderson, Glenn and Robyn
Apilado, Myrna and Reynaldo
Backer, Ray
Bader, Jennifer
Becker, Travis and Zoe
Bell, Dan and Luish
Bennett, Curtis
Bligh, Nathan and Susan
Botros, Joanne
Brodyke, Gillian
Brooks, Jennifer
Bzeta, John
Calsyd Projects Inc
Chalebois, G and M
Chan, Sheri
Charlebois, G and M
Choules, Natalie
Coprian, Velma
Daley, Kevin
Daley, Kelvin & Tina O’Brien
Decottignies, Charles and Lisa
Dixson, Quentin and Denise
Drake, Patti
Emond, Lee and Connie
Fedechko, Cheryle and Shaun
Forbes Enterprises
Forbes, Robin and Gabriela
Fournier, George
Friesen, Heidi
Gardner, Benjamin and Christy
Gareau, David and Donna
Gareau, Lina
Gareau, Tony and Robyn
Gundersen, Stacey
Hoflin, Jeffrey and Doris
Hoye, NIcole and Brandon
Jeffrey, Kim and Mike
Kelly, Mike
Kelly, Ray
Kemp, Amy
Lehmann, Paul and Susan
Loeffler, Jill
Lofvendahl, Brian
McLeod, Leanne
Meehan, Jim
Miko, Chris and Leona
Miles, Mike
Milne, Jarrod
Morris, Troy
Olson, Brendan And Barbara
Owens, Scott
Owens, Scott
Patterson, Victoria
Phillips, Trish
Piche, Bob
PIche, Ross
Puffer, Pauline and Dean
Reed, Curtis
Reed, Evan and Kari
Roth, Katherine
Royer, Maureen
Russell, Brandon and Lindsay
Schnurr, Michelle
Sharp, Christopher and Lindsey
Sheddy, Osborne and Melody
Slemp, Mike
Smith, Chris
Smith, Larry
Smith, Patricia
Smith, Teresa
St. boniface School Educational
Society
Sterling, Erika
Stevens, John and Marla
Stevens, Marla and John
Stewart, Heather
Strasser, Anna and Dan
Strudwick, Michelle
Strydhorst, Sonya
Turner, Sean and Karla
Warnke, Shannon
Wasylenko, Sharon
Williams, Heather
Stanley Park Baseball Diamond
Upgrade
Calgary Rocky Mountain Baseball
Association
Twin Views Communal Garden
Calgary Foundation, The
UES Kindergarten Play Area
AMICI String Program Association
West Dalhousie School Playground
Revitalization
ATB Financial
Black, Deanna
Calgary Foundation, The
Dalhousie Community Association
Derwee, Christina
Encana Corporation
Farzaneh, Alireza
Harmony Through Harmony
Lions Club Calgary Mountview
McGrath, Margit
Perry, Cheryl
Brawn Family Foundation, The
TORC Oil and Gas Ltd.
West Dalhousie Parents Association
Wik, Don And Brenda
>
Westmount Charter School
Strawson, Sophie and Steve
Westmount Charter School
Westside Regional Recreation
Society/Turning the Tables for Youth
McMillan-McGee Corp.
Shane Homes Ltd.
Winston Heights Mountview
Community Garden
Glass, Alison
Lager Enterprises
Mountview Community Association
NCE Enterprises
Roscoe, Tyler
Winston Heights Mountview
Community Association
Talisman Centre
Talisman Centre
Twelve Mile Coulee Outdoor
Fitness Area
Saddledome Ameteur Sport Fund
Twelve Mile Coulee School Parent
Association
26
DONATIONS TO MAJOR
PROJECTS AND PROGRAMS
Operating Administration
3%
Fiscal Stability Reserve Fund
3%
Operating Project
4%
Project Capital Fund
23%
Granting Program Fund
11%
Endowment Fund
45%
Maintenance Fund
11%
Composition of Funds at December 31, 2015
27
>
DONATIONS TO MAJOR
PROJECTS AND PROGRAMS
14,000
12,000
$11,529
$11,422
$10,840
$8,966
$9,702
10,000
$8,838
$8,427
$8,059
8,000
$7,127
$6,418
$5,876
6,000
$5,235
$5,231
$4,071
4,000
$3,442
$2,568
2,000
2.015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
0
2000
Thousands
Donations to Calgary Parks, Pathways, Playgrounds and Amateur Sports
28
LETTER FROM THE TREASURER AND
CHAIRMAN, FINANCE COMMITTEE
The 30th year of operation for Parks Foundation Calgary (PFC) was another financially successful year.
The Finance Committee is pleased to report that for the fiscal year ended December 31, 2015, PFC had $28.1 million
in consolidated endowment, project and program funds. The total fund increased by $3.3 million compared to fiscal
year 2014. This increase is the result of appreciation of the fair market value of our investments and contributions to
the Rotary/Mattamy Greenway project and to other PFC-led programs.
Parks Foundation Calgary’s financial statements demonstrate the financial well-being of the organization. The 2015
financial results reflect the dedication and commitment of PFC’s Board of Governors, the Finance Committee and its
management and staff to develop projects that benefit all Calgarians while ensuring PFC’s fiscal stability.
Going forward into 2016, the overall state of the Alberta
economy suggests not-for-profits will see a period
of constraint. However, with prudent and effective
management of all of the resources available to us, we are
confident that PFC will continue to deliver the valuable
programs which have become our trademark.
Best wishes for the upcoming year,
Frederick B. Nicholson
Treasurer and Chairman, Finance Committee
29
>
30
The Parks Foundation, Calgary
Statement of Financial Position
As at December 31, 2015
Managed Funds
Operating Fund
Total
Total
December 31, December 31, December 31, December 31, December 31, December 31,
Assets
Current assets
Cash and cash equivalents (Note 4)
Accounts receivable
Grants receivable
Prepaid expenses
Due to (from) funds (Note 6)
2015
2014
2015
2014
2015
2014
$
$
$
$
$
$
5,253,592
57,629
587,451
5,898,672
4,510,983
158,538
288,254
4,957,775
Investments
19,304,989
17,466,077
-
Capital assets (Note 7)
25,203,661
22,423,852
-
3,911,168
21,292,493
25,203,661
25,203,661
Liabilities
Current liabilities
Accounts payable and accrued liabilities
Fund balances (Note 9)
Unrestricted
Internally restricted
Internally restricted - invested in capital assets
Externally restricted
3,239,009
57,826
50,000
7,552
(587,451)
2,766,936
2,473,721
88,204
(288,254)
2,273,671
8,492,601
115,455
50,000
7,552
8,665,608
6,984,704
246,742
7,231,446
-
19,304,989
17,466,077
111,477
2,878,413
128,494
2,402,165
111,477
28,082,074
128,494
24,826,017
12,000
65,796
57,765
65,796
69,765
2,710,991
19,700,861
22,411,852
22,423,852
829,716
1,871,424
111,477
2,812,617
736,660
1,479,246
128,494
2,344,400
829,716
5,782,592
111,477
21,292,493
28,016,278
736,660
4,190,237
128,494
19,700,861
24,756,252
2,878,413
2,402,165
28,082,074
24,826,017
Nature of organization (Note 1)
Composition of managed funds (Note 3)
Multi-year sponsorship commitments (Note 5)
Commitments (Note 14)
Signed on behalf of the Board of Governors
John Houghton
John Houghton, Chairman
Frederick B. Nicholson
Frederick B. Nicholson, Treasurer
The accompanying notes are an integral part of these financial statements
31
>
The Parks Foundation, Calgary
Statement of Income, Expenses and Changes in Fund Balances
For the year ending December 31, 2015
Managed Funds
2015
2014
$
$
Income
Contributions (Note 11)
Investment income - realized
Investment income - unrealized
Other income
Operating Fund
2015
2014
$
$
Total Fund
2015
2014
$
$
7,847,394
514,785
67,612
8,429,791
11,289,696
633,781
299,122
12,222,599
212,023
960,195
4,675
91,731
1,268,624
238,918
753,426
142,375
102,825
1,237,544
8,059,417
1,474,980
72,287
91,731
9,698,415
11,528,614
1,387,207
441,497
102,825
13,460,143
4,968,704
561,546
5,530,250
8,050,602
566,014
8,616,616
35,641
852,681
19,817
908,139
53,058
830,241
25,334
908,633
5,004,345
561,546
852,681
19,817
6,438,389
8,103,660
566,014
830,241
25,334
9,525,249
Excess of income over expenses
Fund transfers and allocations (Note 15)
Administration (Note 13)
Management
Transfers
2,899,541
3,605,983
360,485
328,911
3,260,026
3,934,894
139,665
243,453
(275,386)
107,732
201,701
329,725
(194,813)
336,613
-
-
Excess of income after transfers
2,791,809
3,269,370
468,217
665,524
3,260,026
3,934,894
22,411,852
25,203,661
19,142,482
22,411,852
2,344,400
2,812,617
1,678,876
2,344,400
24,756,252
28,016,278
20,821,358
24,756,252
Expenses
Project costs (Note 12)
Saddledome grants
Administration
Amortization
Fund balance, beginning of year
Fund balance, end of year (Note 9)
(139,665)
(243,453)
275,386
(107,732)
(201,701)
(329,725)
194,813
(336,613)
The accompanying notes are an integral part of these financial statements.
32
The Parks Foundation, Calgary
Statement of Cash Flows
For the year ending December 31, 2015
2015
$
Excess of income over expenses
Operating activities
Excess of income over expenses after transfers
Project Fund
Maintenance Fund
Endowment Fund
Operating Fund
Items not affecting cash
Amortization
Investment income - unrealized
Net change in non-cash working capital items affecting operations
Decrease (increase) in accounts receivable
Increase in prepaid expenses
Decrease (increase) in accounts payable
Net cash from operating activities
Investing activities
Purchase of investments
Purchase of capital assets
Net cash used in investing
Increase in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
1,103,429
1,096,951
591,429
468,217
3,260,026
1,973,630
118,672
1,177,068
665,524
3,934,894
19,817
(72,287)
25,334
(441,497)
81,287
(7,552)
(3,969)
3,277,322
(25,296)
515
3,493,950
(1,766,625)
(2,800)
(1,769,425)
(1,060,224)
(1,060,224)
1,507,897
6,984,704
8,492,601
2,433,726
4,550,978
6,984,704
The accompanying notes are an integral part of these financial statements.
33
2014
$
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
1
>
Nature of Organization
The Parks Foundation, Calgary (the “Foundation”) was incorporated as a company on February 12, 1985 under the
Companies Act of Alberta. In 1995, the Articles of Association were updated to extend the responsibility of the
Foundation to include the Amateur Sport Fund and the Calgary River Valleys Committee. As of December 31, 2009, the
contract with the River Valleys Committee expired and the Articles of Association have yet to be updated. The objectives
of the Foundation are:
x
to promote and encourage the co-operative effort of government, private and community sector involvement
toward the enhancement of the quality of parks, recreation and open space in the City of Calgary; and
x
to solicit funds, assets, property and rights and to administer receipt of same for the benefit of the City of Calgary as
agent for and on behalf of the City of Calgary.
All financial transactions and balances disclosed in these financial statements have been entered into and are being held
by the Foundation as agent for the City of Calgary (“City”). The Foundation operates under a Memorandum of
Agreement with the City, expiring December 31, 2017, with an option to renew for two years. The Foundation leases the
land and building from which it operates from the City at an annual lease in the amount of $1,200 which expires on July
17, 2017, with an option to renew for another two terms each five years in length, subject to an increase pegged on the
Consumer Price Index. No member of the Foundation is entitled to any distribution from the Foundation by virtue of
membership in the Foundation. During the year, the Foundation received an operating grant from the City’s Enmax
Legacy Fund for $200,000 (2014 - $198,344) to support its operations. The Enmax Legacy Fund annual grant of $200,000
is committed for five years commencing in fiscal 2014. The 2014 grant was reduced by $1,656 due to Council’s decision
to reduce the tax rate from 6.1% to 5%, thereby reducing funding to tax-supported functions, including Civic Partners.
The Foundation is a not-for-profit organization as defined under paragraph 149(1)(l) of the Income Tax Act, and
therefore, is not subject to income tax. The Foundation is classified as a municipal corporation and as such is entitled to
100% GST rebate.
Basis of accounting
The financial statements of the Foundation have been prepared by management in accordance with Canadian
accounting standards for not-for-profit organizations (“ASNPO”).
Use of estimates
The preparation of financial statements in conformity with ASNPO requires management to make estimates and
assumptions that affect the amounts reported in the financial statements and accompanying notes. The more significant
estimates in these financial statements relate to management’s estimates of the collectability of accounts receivables,
pledges receivables and the estimated useful lives of capital assets. Actual results could differ from those estimates. The
financial statements have, in management’s opinion, been properly prepared using careful judgment with reasonable
limits of materiality and within the framework of the significant accounting policies summarized below:
34
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
Fund accounting
The Foundation follows the restricted fund method of accounting for contributions.
The Operating Fund reports the assets, liabilities, income and expenses related to the Foundation's administrative
activities and the maintenance of certain endowment projects.
The Project Fund reports the assets, liabilities, income and expenses related to the Foundation's projects. Contributions
to this Fund are externally restricted. Investment income is reported in the Project Fund as there are external
restrictions that this income must be used for the Foundation's projects.
The Maintenance Fund reports the assets, liabilities, income and expenses related to specific Foundation projects. Interfund transfers to this Fund are internally restricted. Investment income is reported in the Maintenance Fund as there are
internal restrictions that this income must be used for the Foundation's projects.
The Endowment Fund reports resources contributed for endowments. Both original contributions and unrealized
investment income are externally restricted. All unrealized investment income is reported in the Endowment Fund.
When this income is realized, the unrealized income accrual is reversed and the realized investment income earned on
resources of the Endowment Fund is reported in the Operating Fund or the Endowment Fund dependent on whether it is
internally or externally restricted.
Cash and cash equivalents
Cash and cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investing or
other purposes. Cash consists of cash on hand, in the bank, and certain investments in a money market fund or a bond
pooled fund.
Financial instruments
A financial asset or a financial liability is recognized when the Foundation becomes a party to the contractual provisions
of the financial instrument. All financial instruments are initially measured at fair value and subsequently at cost or
amortized cost, except for equities which are required to be measured at fair value, or financial instruments which are
designated at fair value. The Foundation has designated all bonds, guaranteed investment certificates and other
financial assets within the investment portfolio, into the fair value category. Unrealized gains and losses on financial
instruments are measured at fair value and reported in the Statement of Income, Expenses and Changes in Fund
Balances.
Financial assets are tested for impairment when changes in circumstances indicate that the asset could be impaired.
Transaction costs on the acquisition and sale of financial instruments are expensed for those items re-measured at fair
value at each statement of financial position date and charged to the financial instrument for those measured at
amortized cost.
35
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
Investments
>
Investments are comprised of all funds invested with a portfolio manager, irrespective of whether the funds are invested
in cash and cash equivalents, short or long term investments, or equities, as these investments are held for the purpose
of long-term capital growth. Unrealized investment income on the Talisman Access Advantage Endowment Fund and the
PartnerParks Endowment Fund portfolios is externally restricted. Realized investment income on these endowment
funds is internally restricted by Board approval with consideration to the terms of the agreements. Interest income from
these two portfolios is recorded in the Operating Fund and is classified as cash and cash equivalent as it is held for the
purpose of meeting short-term cash commitments and for recovering some costs of the Foundation’s operations.
Investment income of the other portfolios is held within their investment components. A specific condition, applying to
the Saddledome Amateur Sport Fund, a project fund, requires that the equity portion up to $500,000 be restricted and
not be made available for expenditure.
Investment income realized consists of interest, dividends and capital gains (losses). Income on investments is reported
net of investment management, banking and custodial fees of $74,756 (2014 - $50,021 management fee and $5,072
banking and custodial fees).
Capital assets
The Foundation records all donated assets at fair market value at the date of the donation. All other acquisitions are
recorded at cost. These assets are amortized over their useful lives using the declining balance method of amortization
taking one-half year amortization in the year of acquisition. Amortization rates are 30% for office equipment, 20% for
furniture and fixtures and 10% for leasehold improvements. Amortization expense is recorded in the Operating Fund.
Capital assets are tested annually for impairment where impairment indicators are present. This would occur if a capital
asset no longer contributes to the Foundation's ability to provide services. Any excess of the capital asset's carrying
value with no long-term service potential over its residual value is recognized as an expense of the period.
Revenue recognition
Contributions are recognized when received or receivable if the amount to be received can be reasonably estimated and
collection is reasonably assured. Restricted contributions related to operations are recognized as revenue of the
Operating Fund in the year in which the related expenses are incurred. All other restricted contributions are recognized
as revenue of the appropriate restricted fund. Unrestricted contributions are recognized as revenue of the Operating
Fund. Contributions for endowment are recognized as revenue of the Endowment Fund, upon receipt of contributions.
Investment income, net of portfolio manager fees, and other income is recognized as revenue when earned on the
accrual basis. Investment income reflects gains and losses on sale of investments. Unrealized income or loss reflects remeasurement of investments to fair value.
Contributed materials and services
The Foundation receives various contributions in the forms of materials and services to carry out its objectives. Because
of the difficulty in determining their fair value, contributed materials and services are not recognized in the financial
statements.
36
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
Project administration
The Foundation charges an administration allocation of 2% to all projects, 1.0% -1.5% to all endowment funds managed
by the Foundation and 5% of capital funds raised which are available for granting to communities. The Foundation grants
the 2% administration allocation to community projects that qualify under the PartnerParks Administration Costs
Allocation Granting Program. Management has the discretion to charge administration costs allocation to recover costs
from projects which do not qualify under the PartnerParks Administration Costs Allocation Granting Program and under
special circumstances.
In addition, the Foundation receives management costs allocation to assist certain projects during the fundraising or
development stages, or to administer grants on behalf of other non-for-profit organizations, or to manage projects
construction.
Administration costs allocations are collected monthly based on either the contributions received or the bank balances.
Management costs allocations for projects initiated by the Foundation are collected based on percentage of completion,
determined on the basis of project and associated costs incurred, without jeopardizing the completion of the project.
Where it is difficult to place a value on the costs incurred, revenue shall be recognized on a straight line basis over the
term of the project.
Administration and management costs allocations are reflected as fund transfers and allocations from the Project Fund
to the Operating Fund; and fund transfers and allocations within the Operating Fund.
Unless designated as a maintenance fund, any residual fund remaining two years after the completion of any projects
will revert back to the Foundation and will be utilized at the discretion of the Board of Governors. Residual funds can
upon written request be converted into an endowment fund dedicated for maintenance of the project.
Allocated remuneration costs
In the course of its operations, the management of the Foundation allocates remuneration costs to its different funds,
based on management’s best estimate of the time spent by each employee in each area.
Pledges receivable
Pledges receivable are recorded in the financial statements when the following criteria are met:
x
x
x
x
37
Signed letter from the donor stating pledged amount with no outstanding conditions;
The project is confirmed to proceed on a given date or has already commenced construction;
Their fair value can be reasonably estimated; and
Collection is reasonably assured.
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
2
Financial Instruments
>
The Foundation holds various forms of financial instruments. The nature of these instruments and the Foundation's
operations exposes the Foundation to various risks. Except as disclosed elsewhere, the Foundation’s financial
instruments have the following risks:
(i) Interest rate risk
Interest rate risk is the risk that the value of interest bearing financial instruments will fluctuate due to changes in the
prevailing levels of market interest rates. The fixed income investments are also subject to cash flow risk, arising from
the reinvestment of cash flow at varying interest rates.
The Foundation is exposed to interest rate risk arising from the fluctuations in interest rates on its investments. The
Foundation mitigates these risks through investment guidelines approved by the Foundation’s Board.
At December 31, 2015, the Foundation had $10,999,630 (2014 - $9,045,431) of investments exposed to interest rate risk.
(ii) Equity price risk
Equity risk is the uncertainty associated with the valuation of assets arising from changes in equity markets. To mitigate
equity price risk, the Foundation has investment policy guidelines in place that provide for prudent investment in equity
markets within clearly defined limits.
The Foundation has an upper limit on equities of 50% (0% for the Short Term Projects account). The portfolio manager
has an internal constraint of no more than 20% of its net assets in a particular industry (i.e. sub-sector) as classified by
the Global Industry Classification Standards (“GICS”) to reduce concentration risk. The portfolio manager limits the
magnitude of any one asset mix shift to 5% per quarter to reduce timing risk. The portfolio manager also limits the
investment in any one corporation to no more than 10% of the equity component.
The Fund’s equity holdings are in nine of ten GICS sectors and are most heavily weighted to Financials (26% of the equity
weight), Industrials (16%) and Information Technology (14%). The combined exposure to all three sectors is 56%.
At December 31, 2015, the Foundation had $7,683,320 (2014 - $6,773,633) of investments exposed to equity price risk.
(iii) Credit risk
Substantially all of the Foundation's cash and cash equivalents and investments are held within a Chartered financial
banking institution and their custodian. As such, the Foundation is exposed to the risks of these entities.
The Foundation’s accounts receivable consists of GST receivable from the government. Accordingly, the Foundation
views credit risk on GST receivable as minimal.
The fair value of debt securities includes consideration of the credit worthiness of the debt issuer. The carrying amount
of the debt securities held within the investments represents the maximum credit risk exposure as at December 31,
2015.
38
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
Credit risk arising on debt instruments is mitigated by investing primarily in rated instruments or instruments issued by
rated counterparties of credit ratings of at least BBB. The average credit quality of the Canadian Bond Pooled Fund as at
December 31, 2015 was AA (2014 – AA).
(iv) Currency risk
Currency risk arises from financial instruments that are denominated in a currency other than the Canadian dollar, which
is the Foundation’s functional currency. The Foundation is exposed to the risk that the value of securities denominated
in other currencies will fluctuate due to changes in exchange rates. The exposure to currency risk is primarily through
investment in mutual funds with foreign equity holdings. Equities trading in foreign markets are also exposed to
currency risk as the price in local terms on the foreign stock exchange is converted to Canadian dollars to determine fair
value. Generally the Foundation holds its direct cash in Canadian dollars.
As at December 31, 2015, the Foundation had $5,792,219 (2014 - $4,675,083) of investments exposed to currency risk.
(v) Liquidity risk
Liquidity risk is the risk that the Foundation will encounter difficulty in meeting its obligations associated with financial
liabilities. This includes the risk that, as a result of operational liquidity requirements, the Foundation will not have
sufficient funds to settle a transaction on the due date; will be forced to sell financial assets at a value, which is less than
what they are worth; or may be unable to settle or recover a financial asset. Liquidity risk arises from accounts payable.
The Foundation has reserve funds from prior year surpluses to mitigate the liquidity risk, and monitors their cash flows
on a regular basis.
39
>
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
3
Composition of Managed Funds
PARKS FOUNDATION CALGARY
Consolidated Statement of Financial Position
Project Fund
Maintenance Fund
Endowment Fund
Managed Funds
December 31, December 31, December 31, December 31, December 31, December 31, December 31, December 31,
Assets
Current assets
Cash and cash equivalents (Note 4)
Accounts receivable
Due to (from) funds (Note 6)
Investments
2015
2014
2015
2014
2015
2014
2015
2014
$
$
$
$
$
$
$
$
5,253,592
57,231
581,961
5,892,784
4,510,983
158,234
288,254
4,957,471
5,490
5,490
-
398
398
304
304
5,253,592
57,629
587,451
5,898,672
4,510,983
158,538
288,254
4,957,775
3,594,012
9,486,796
3,437,896
8,395,367
3,020,927
3,026,417
1,929,466
1,929,466
12,690,050
12,690,448
12,098,715
12,099,019
19,304,989
25,203,661
17,466,077
22,423,852
-
12,000
-
-
-
-
-
12,000
337,838
9,148,958
9,486,796
375,913
8,007,454
8,383,367
3,026,417
3,026,417
1,929,466
1,929,466
546,913
12,143,535
12,690,448
405,612
11,693,407
12,099,019
9,486,796
8,395,367
3,026,417
1,929,466
12,690,448
12,099,019
3,911,168
21,292,493
25,203,661
25,203,661
2,710,991
19,700,861
22,411,852
22,423,852
Liabilities
Current liabilities
Accounts payable and accrued
liabilities
Fund balances (Note 9)
Internally restricted
Externally restricted
Nature of organization (Note 1)
Multi-year sponsorship commitments (Note 5)
Commitments (Note 14)
40
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
PARKS FOUNDATION CALGARY
Statements of Income, Expenses and Changes in Fund Balances
For the period ended December 31, 2015
Project Fund
2015
2014
$
$
Income
Contributions (Note 11)
Investment income - realized
Investment income (loss) - unrealized
Other income
Maintenance Fund
2015
2014
$
$
Endowment Fund
2015
2014
$
$
7,441,554
118,070
1,197
7,560,821
10,420,777
127,951
32,623
10,581,351
41,738
152,834
194,572
68,214
50,458
118,672
4,961,568
561,546
5,523,114
7,780,903
566,014
8,346,917
-
-
Excess of income over expenses
Fund transfers and allocations (Note 15)
Administration (Note 13)
Management
Transfers
2,037,707
2,234,434
194,572
118,672
902,379
902,379
-
Excess of income after transfers
1,103,429
1,973,630
1,096,951
118,672
591,429
1,177,068
Fund balance, beginning of year
Fund balance, end of year (Note 9)
8,383,367
9,486,796
6,409,737
8,383,367
1,929,466
3,026,417
1,810,794
1,929,466
12,099,019
12,690,448
10,921,951
12,099,019
Expenses
Project costs (Note 12)
Saddledome grants
Administration
Amortization
41
(138,832)
(243,453)
(551,993)
(934,278)
(200,892)
(329,725)
269,813
(260,804)
405,840
354,977
(86,419)
674,398
Managed Funds
2015
2014
$
$
868,919
437,616
216,041
1,522,576
7,847,394
514,785
67,612
8,429,791
11,289,696
633,781
299,122
12,222,599
7,136
7,136
269,699
269,699
4,968,704
561,546
5,530,250
8,050,602
566,014
8,616,616
667,262
1,252,877
2,899,541
3,605,983
(139,665)
(243,453)
275,386
(107,732)
2,791,809
(201,701)
(329,725)
194,813
(336,613)
3,269,370
(833)
(75,000)
(75,833)
(809)
(75,000)
(75,809)
22,411,852
25,203,661
19,142,482
22,411,852
>
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
4 Cash and Cash Equivalents and Investments
A s at Dec ember 31, 2015, the Foundation held the follow ing c ash and investments:
December 31, 2015
Cash and cash equivalents
December 31, 2014
Market V alue
Cost
Market V alue
$
$
$
Cost
$
8,492,601
8,408,107
6,984,704
6,904,885
Investments
19,304,989
16,483,216
17,466,077
14,711,789
Total
27,797,590
24,891,323
24,450,781
21,616,674
Cash and c ash equivalents and investments are alloc ated to the follow ing:
Managed Funds
Cash and c ash equivalents
Total
Operating Fund
2015
2014
2015
2014
2015
$
$
$
$
$
2014
$
5,253,592
4,510,983
3,239,009
2,473,721
8,492,601
6,984,704
5,253,592
4,510,983
3,239,009
2,473,721
8,492,601
6,984,704
1,055,477
1,019,912
-
-
1,055,477
1,019,912
Investments
Money market fund and T-bill
sec urities
Bond pooled fund and fixed
inc ome sec urities
Balanc ed pooled fund
Total market value
5,619,283
5,010,736
-
-
5,619,283
5,010,736
12,630,229
11,435,429
-
-
12,630,229
11,435,429
19,304,989
17,466,077
-
-
19,304,989
17,466,077
24,558,581
21,977,060
3,239,009
2,473,721
27,797,590
24,450,781
Dec rease (inc rease) over
historic al c ost
(2,821,774)
(2,754,287)
Cost
21,736,807
19,222,773
(84,494)
3,154,515
(79,820)
2,393,901
(2,906,268)
(2,834,107)
24,891,322
21,616,674
The funds listed in the above summary as Managed Funds are comprised of the follow individual funds:
Maintenanc e Fund
Endow ment Fund
2015
2014
2015
2014
2015
2014
2015
$
$
$
$
$
$
$
Projec t Fund
Cash and c ash equivalents
Managed Funds
2014
$
5,253,592
4,510,983
-
-
-
-
5,253,592
4,510,983
5,253,592
4,510,983
-
-
-
-
5,253,592
4,510,983
-
-
1,055,477
1,019,912
Investments
Money market fund and T-bill
securities
937,098
904,874
-
-
118,379
115,038
1,805,251
1,714,033
851,663
818,989
711,402
512,275
3,102,630
2,784,428
5,619,283
5,010,736
2,309,525
1,417,191
9,469,041
9,199,249
12,630,229
11,435,429
3,594,012
3,437,896
3,020,927
1,929,466
12,690,050
12,098,715
19,304,989
17,466,077
Bond pooled fund and fixed income
securities
Balanced pooled fund
Total market value
8,847,604
7,948,879
3,020,927
1,929,466
12,690,050
12,098,715
-
-
24,558,581
21,977,060
-
-
Dec rease (inc rease) over
historic al c ost
Cost
(279,341)
8,568,263
(278,269)
7,670,610
(469,514)
2,551,413
(316,679)
1,612,787
(2,072,919)
(2,159,339)
(2,821,774)
(2,754,287)
10,617,131
9,939,376
21,736,807
19,222,773
42
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
5
Multi-year Sponsorship Commitments
Multi-year commitments from various donors for the Rotary/Mattamy Greenway (“Greenway”) project amount to
$3,262,526 (2014 – $5,422,023). These sponsorship commitments are not recorded as pledges receivable as they are
provided as commitments to the Foundation, which are revocable, best efforts, or construction of sponsored sites that
will be completed in subsequent years.
Sponsors have committed to contribute the following:
2016
2017
$
1,987,526
1,275,000
3,262,526
The Calgary Rotary clubs and Mattamy Homes committed $5,000,000 each for a total of $10,000,000, payable over five
years, for sponsorship of the Greenway with naming rights of the pathway as Rotary/Mattamy Greenway. These
financial commitments are included in the table above, net of $5,000,000 received from Mattamy Homes in 2015 and
$2,602,526 received from Rotary clubs in 2013 through 2015.
There is also a commitment to contribute cash with a balance of $25,000 (2014 - $50,000) payable over the next two
years arising from a commitment for sponsorship in the form of construction of certain phases of the Greenway. This
commitment is to be credited to Operating Administration in lieu of administration and management costs allocation to
the Greenway project.
6
Due to (from) Funds
The accumulated net investment income of $681,771 (2014 - $414,887) of the Talisman Operating Fund is owed to the
Talisman Project Fund. The net investment income excludes the fair value adjustments earned by the Talisman
Endowment Capital Fund.
The Foundation transferred $30,000 in 2014 from the PartnerParks Endowment Fund to the Bio-Energy Project as a
repayable loan approved by the Board of Governors. The loan is outstanding as at December 31, 2015.
In 2015, management fees for the three months ended December were accrued for the Greenway project and the bench
program in the amounts of $31,320 and $24,000 respectively (2014 - $95,433 and $1,200 respectively).
In 2015, management fees for the three months ended December were accrued for the Saddledome Fund in the
amounts of $9,000 (2014 – $ nil).
In 2015, the portion of funds collected from sale of benches for ongoing maintenance net of the current years expenses
for the 12 months ended December were accrued for the Bench Maintenance Reserve Fund in the amounts of $5,490
(2014 – $ nil).
43
>
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
7
Capital Assets
Capital assets are comprised of the following:
Office equipment
Furniture and fixtures
Leasehold improvements
Artwork
Office equipment
Furniture and fixtures
Leasehold improvements
8
Cost
$
133,090
24,730
322,203
2,800
482,823
2015
Accumulated
Amortization
$
108,764
24,587
237,995
371,346
Net Book
Value
$
24,326
143
84,208
2,800
111,477
Cost
$
133,090
24,730
322,203
480,023
2014
Accumulated
Amortization
$
98,339
24,552
228,639
351,530
Net Book
Value
$
34,751
178
93,564
128,494
Greenway Credit Facility
This line of credit bears interest at prime plus 0.5% and is secured by an encumbrance upon the PartnerParks
Endowment Fund administered by the portfolio manager up to a maximum of $1,000,000, and is payable on demand. As
at December 31, 2015, $nil was drawn from the credit facility (2014 – $ nil).
44
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
9
Fund Balances
a)
Project Fund
The Project Fund comprises the fund balances of the following projects under administration:
Rotary/Mattamy Greenway
Bio Energy Park
PartnerParks Administration Fee Granting Fund
Building Playgrounds and Communities
Rotary/Mattamy Greenway Phase 1
Inglewood Bird Sanctuary
Rotary Park
Horticultural Therapy Program
Connaught Community Park
Various other Foundation Project
Saddledome Amateur Sport Fund
John Currie Endowment Fund
Talisman Centre
Bench Program
Hawkwood Green Playground
Calgary Community Bridge League
Gerry Shaw Gardens
Riverdale Avenue Lighting
CKE Community Center
Discovery Ridge Playground
Calgary Gymnastics Club
Crescent Park Playground
Paskapoo Slopes
Highwood School Playground & Naturalization
Various other Community Projects
45
2015
$
1,640,726
802,748
337,838
294,806
234,622
54,445
43,815
39,684
389,903
77,060
2,331,683
679,090
732,330
294,704
165,000
116,145
101,263
89,983
124,356
77,668
68,991
65,734
62,933
661,269
2014
$
2,044,869
(27,135)
375,913
179,563
234,622
54,445
43,815
67,378
383,498
63,218
2,269,390
649,724
466,013
276,644
116,145
3,384
89,983
18,991
80,584
54,541
27,179
62,933
174,936
672,734
9,486,796
8,383,367
i.
According to the funding agreement between The City of Calgary and the Foundation, the fund balance
maintained in the Saddledome Amateur Sport Fund shall not be permitted to drop below $500,000. As
per above, this fund balance significantly exceeds this minimum.
ii.
The PartnerParks Administration Fee Granting Fund is internally restricted given that the disposition of
the fund is at the discretion of the Board.
>
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
b)
Endowment Fund
Endowment Fund comprises the fund balances of the endowment projects under administration:
PartnerParks Endowment Fund
Talisman Access Advantage Endowment Fund
Operating Endowment Fund
Art Smith Amateur Sport Endowment
Police & Fire Endowment Fund
Heritage Escarpment Endowment Fund
Patterson Homestead Park
Legion Tree Endowment Fund
Jack Leslie Youth Environment Award
2015
$
3,849,891
3,499,940
2,884,806
1,988,788
175,961
144,656
65,172
53,508
27,726
12,690,448
2014
$
3,834,805
3,074,951
2,726,704
1,995,200
174,978
145,679
65,646
51,168
29,888
12,099,019
In 2015, $663,647 (2014 - $592,782) of investment income earned on the Endowment Capital Fund is reported
under the Operating Fund.
c)
Maintenance Fund
The Maintenance Fund comprises the fund balances of reserves held for the maintenance of specific Foundation
projects.
Rotary/Mattamy Greenway Reserve Fund
Bench Reserve Fund
2015
$
2,558,605
467,812
3,026,417
2014
$
1,476,160
453,306
1,929,466
In 2015, $184,253 (2014 - $93,720) of investment income earned on the Maintenance Fund is reported under the
Operating Fund.
46
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
d)
Operating Fund
The Operating Fund comprises the fund balances for project maintenance, administration and operating fiscal
stability reserve fund.
The project maintenance balance represents the net interest income of the PartnerParks Endowment Portfolio. The
administration fund represents the net assets of the fund to operate the Foundation.
Project maintenance
Administration - other than capital assets
Administration - capital assets
Operating Fiscal Stability Reserve Fund
Operating Fiscal Stability Reserve Fund
Beginning balance
Investment income
Adjustment for fair market value
Total
2015
$
1,209,464
829,716
111,477
661,960
2,812,617
620,544
41,829
(413)
661,960
2014
$
858,703
736,659
128,494
620,544
2,344,400
503,426
37,590
79,528
620,544
The Operating Fiscal Stability Reserve Fund was created following a motion passed by the Board of Governors on
September 30, 2010, with an initial amount transferred from the Greening a Great City Legacy campaign residual
fund. The amount to be internally restricted each year is at the discretion of the Board.
During 2013, the Board approved the transfer of $100,000 from the Operating Administration surplus to the
internally restricted Operating Fiscal Stability Reserve Fund. During 2015 and 2014, no similar transfer was made to
this fund. In the event of a deficit in Operating Administration, the Operating Fiscal Stability Reserve Fund can be
made available for operating administration by approval of the Executive and the Board.
10
Members’ Limited Liability
The liability of the members is limited to the guarantee given by each member to contribute a maximum of $1 in the
event the Foundation is wound-up.
47
>
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
11
Contributions by Source
During the year, contributions were received from the following sources:
Government
Corporations
Individuals
Other not-for-profit
12
2015
$
1,426,699
2,017,672
2,266,330
2,348,716
8,059,417
2014
$
1,293,825
4,147,963
2,070,149
4,016,677
11,528,614
Related Party Transactions
Related party balances and transactions not otherwise disclosed in these financial statements consist of:
a)
Legal fees of $150,117 (2014 – $nil) were paid to a corporation related to a director of the Foundation, with
regard to an estate donation to be contributed to an Endowment Fund with the Foundation.
b) Professional fees of $18,602 (2014 - $24,920) were paid to a corporation related to the Treasurer of the
Foundation, with regard to accounting and finance services for the Foundation. All invoices and cheques related
to these services are signed by both the CEO and one of either the Chairman or Past Chairman of the Board of
Governors.
c)
Insurance policies amounting to $14,890 (2014 - $13,289) were brokered through a corporation related to a
director of the Foundation. The policies cover property, crime, commercial liability, cyber liability and directors
and officers’ liability.
These transactions are in the normal course of operation and are recorded at their exchange amounts, which is the
amount of consideration established and agreed to by the related parties.
13
Fundraising Expenses
As required under Section 7(2) of the Charitable Fund-Raising Act of Alberta, the Foundation discloses the following:
a)
Expenses incurred for the purposes of soliciting contributions were $1,264 (2014 – $nil).
b)
$231,326 (2014 – $225,543) was paid as remuneration to employees whose principal duties involve fund-raising and
is recorded in the administration expense of the operating fund. The fundraising remuneration costs were
determined by management, by allocating total remuneration of the employees involved in fundraising, using their
best estimate of time spent by each employee on fundraising activities during the year.
48
The Parks Foundation, Calgary
Notes to Financial Statements
For the year ending December 31, 2015
14
Commitments
Under the terms of the Saddledome Amateur Sports Grant contracts, the Foundation is committed to pay out $1,261,795
(2014 - $799,632) of grants, subject to the conditions of the grants being satisfied. The funds for these commitments are
in the externally restricted project fund.
15
Inter-fund Transfers
As part of the Greenway project agreement, the Board is allowed to transfer up to 10% of the total funds raised in the
Project Fund to the Maintenance Fund for the Rotary/Mattamy Greenway. During 2015, there was a transfer of
$896,889 for this purpose. During 2014, no similar transfer was made to this fund.
The Foundation transferred $75,000 (2014 - $75,000) from the Operating Endowment Fund to the Operating Fund to
cover operating costs as per the agreement with the City.
The Foundation transferred $40,000 (2014 - $nil) from the Operating Fund to the Project Fund to be granted under the
Architectural Granting Program.
The Foundation transferred $266,883 (2014 - $243,928) from the Operating Fund to the Project Fund to fund the
Talisman Access Program per agreement.
The Foundation transferred $nil (2014 - $30,000) from the PartnerParks Endowment Fund to the Bio-Energy Project as a
repayable loan approved by the Board of Governors.
49
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Parks Foundation Calgary
T: 403.974.0751
F: 403.974.0758
E: [email protected]
W: www.parksfdn.com
225 13 Avenue SW
Calgary, AB T2R 1N8
Annual Report Managed and Designed by: Alyshia Auston
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