Annual Report 2015

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Statement of Revenue, Expenses and Changes in Fund Balances ($ Thousands)
Notes
1 Direct fundraising
expenses represent
costs for logistics,
marketing and other
expenses directly
related to fundraising
activities including
those for our major
events such as the
Enbridge Ride to
Conquer Cancer,
Shoppers Drug Mart
Weekend to End
Women’s Cancers
and our Direct
Marketing programs.
2 General fundraising
and administrative
expenses are the
overhead costs
associated with
running the
Foundation
operations.
Year ended March 31 2011 2012 2013 2014 2015
Gross fundraising revenue 75,368 80,146 85,911 94,917 94,340
Direct fundraising expenses1 (13,274) (14,853) (16,799) (14,092) (16,223)
Net fundraising revenue 62,094 65,293 69,112 80,825 78,117
Direct fundraising expenses/Gross fundraising revenue 17.6% 18.5% 19.6% 14.9% 17.2%
Gross lottery revenue 52,210 56,778 58,193 63,022 70,899
Direct lottery expenses (37,060) (39,549) (38,823) (41,940) (47,145)
Net lottery revenue 15,150 17,229 19,370 21,082 23,754
Direct lottery expenses/Gross lottery revenue 71.0% 69.7% 66.7% 66.5% 66.5%
Net fundraising and lottery revenue 77,244 82,522 88,482 101,907 101,871
Investment income (loss) 22,790 13,940 33,010 33,153 48,029
Net revenue, including investment income 100,034 96,462 121,492 135,060 149,900
General fundraising and administrative expenses2 7,670 8,233 9,167 9,804 10,122
General fundraising and administrative expenses / 9.9% 10.0% 10.4% 9.6% 9.9%
Net fundraising and lottery revenue
(excluding investment income (loss))
Excess of revenue over expenses before grants 92,364 88,229 112,325 125,256 139,778
Grants to Ontario Cancer Institute/
Princess Margaret Cancer Centre
Building 2,830 7,030 4,913 7,208 11,923
Research, education and patient care 49,002 51,832 57,866 52,191 75,158
Equipment 2,490 4,622 2,000 3,002 8,395
54,322 63,484 64,779 62,401 95,476
Excess of revenue over expenses and grants 38,042 24,745 47,546 62,855 44,302
Fund Balances
Endowments 117,701 111,414 121,487 142,347 245,998
Restricted 194,788 226,974 264,128 306,199 247,181
Unrestricted 10,135 10,032 10,351 10,275 9,944
322,624 348,420 395,966 458,821 503,123
Held by University of Toronto 11,085 10,983 11,716 13,148 14,525
Total Capital 333,709 359,403 407,682 471,969 517,648
Each year, The Princess Margaret Cancer Foundation reports on the funds it raises and
stewards in two ways: via Audited Financial Statements (AFS) included in this report or online
at , and via the standard CRA T3010 form required of all not-for-profit
organizations and found on the CRA website at While both formats utilize
the same financial information, the Foundation’s AFS provides a more detailed look to better
assess and control our financial performance.
5-Year Financial Summary