WESTERN CANADA WILDERNESS COMMITTEE (WCWC)
227 Abbott Street, Vancouver, British Columbia, Canada V6B 2K7
Tel: 604-683-8220 Fax: 604-683-8229
WCWC Staff:
From left to right: Matt Jong, Comptroller, E-Team; John Richardson, Campaign Assistant; Andrea
Reimer with daughter Roan, Membership, Outreach, Fundraising Assistant; Sue Fox, Publications,
Communications; Chris Player, GIS, Campaign Assistant; Paul George (founder), E-Team, Publications,
Campaigns; Adriane Carr, E-Team, Fundraising, Campaigns; Alice Eaton, Director, Reception; Deborah
Drouin, Data Entry; Mona Lisa Amirsetia, Data Entry; Joe Foy, E-Team, Campaigns; Dennis McCrossan,
Membership Servicing; Michael Bouris, Phone Canvass; In Front; Andy Miller, Phone Canvass; Greg
Macintrye; Printing, Shipping. Missing: Diana Vander Veen; Wholesale, Chris Jacob, Canvass
Director, Gord More, Store Manager.
FINANCIAL REPORT
May 1, 1997 - April 30, 1999
To The Members,
Financially-speaking, on paper, our organization has never looked so good. However, our cash position continues to remain tight. This is largely due to increased spending on our aggressive public information and education program and on our long-term strategic asset-building program which, in 1998, included the purchase and improvement of a new store and outreach centre at 227 Abbott ($177,685.00). We do not expect our new store to reach its full potential, in terms of sales, until the completion of the hopefully soon-to-be-started Woodward's re-development project (one-half block from our new store).
Our financial position has continued to improve since 1997. The working capital for 1997 was $62,245; in 1998, $32,660 and in 1999, $69,724. Our net profit for 1997 was $51,776; 1998 $92,063 and 1999 $110,184. The 1999 cash position increased by $80,103 from the previous year.
Our revenue from contributions and donations increased substantially last year, primarily due to the raising of $109,550 through our Abbott Street store capital campaign and two large bequests. However, our membership dues were down by $21,978, largely because of the holdover of a large number of two and three-year memberships received the year before. Our educational material sales were down by $40,179. This was expected because of our new store location.
On the positive side, we have trimmed our administrative and operating costs by one-half from $243,123 in 1997 to $121,891 in 1999 and increased the education /information campaign and member service expenses by $95,366. All in all, the year ended April 30, 1999 was a good but also a tough year. We are continuing to work hard maintaining all programs and goals.
For the current year (May 1, 1999 - April 30, 2000) we are focusing on increasing our income by: achieving a. higher membership renewal rate; increasing our membership base through opening up door to door canvasses in new areas like Winnipeg; increasing the number of private foundation supporters; and increasing the number of monthly and general donors. In March, 2000 we will be opening a new street-level store and office in downtown Victoria (similar to the store-office we had for 10 years in Vancouver at 20 Water Street).
The executive management team is continuing to keep administration and operating expenses down despite the Vancouver main office having taken on the Victoria and Edmonton offices' financial responsibilities last year. While increasing the burden in Vancouver, this freed-up campaigners in the two outreach offices and increased the cooperation between offices. So far, the Victoria and Edmonton locations have been operating at a slight loss.
In spite of the many challenges ahead, the continuing generous financial support from our members and friends, makes us very optimistic about the future!
Matt Jong
WCWC Comptroller
DAVIDSON & COMPANY, AUDITORS' REPORT
To the Members of Western Canada Wilderness Committee
We have audited the balance sheets of Western Canada Wilderness Committee as at April 30, 1999 and 1998 and the statements of revenue, expenditures and members' equity and cash flows for the years then ended. These financial statements are the responsibility of the Committee's management. Our responsibility is to express an opinion on these financial statements based on our audits.
Except as explained in the following paragraph, we conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
In common with many charitable organizations, the Committee derives revenue from unreceipted donations, the completeness of which is not susceptible to satisfactory audit verification. Accordingly, our verification of these revenues was limited to the amounts recorded in the records of the Committee and we were not able to determine whether any adjustments might be necessary to unreceipted donation revenues, excess of revenue over expenditures, assets and members' equity.
In our opinion, except for the effect of adjustments, if any, which we might have determined to be necessary had we been able to verify the completeness of the unreceipted donations referred to in the preceding paragraph, these financial statements present fairly, in all material respects, the financial position of the Committee as at April 30, 1999 and 1998 and the results of its operations and its cash flows for the years then ended in accordance with generally accepted accounting principles.
Chartered Accountants
Vancouver, Canada
June 15, 1999
A Member of Accounting Group International
Suite 1270, Stock Exchange Tower,
609 Granville Street, P.O. Box 10372,
Pacific Centre, Vancouver, B.C., Canada 17Y 1G6
Telephone (604) 687-0947 Fax (604) 687-6172
WESTERN CANADA WILDERNESS COMMITTEE
STATEMENTS OF REVENUES, EXPENDITURES AND MEMBERS' EQUITY
YEAR ENDED APRIL 30
1999 1998 REVENUE $418,604 $440,58 Membership dues 752,008 658,130 Contributions and donations 283,257 248,180 Grant revenue Sales of educational material 78.307 1,741 Unreceipted donations 1,774,749 1,711,393 EXPENDITURES 1,017,511 922,145 Campaign, member and grant project costs 1,017,511 255,784 Canvass costs 266,712 252,457 Administration costs 121,891 188,944 1,664,565 1,619,330 Revenue over expenditures for the year 110,184 92,063 Members' equity, beginning of year 115.660 23,597 Members' equity, end of year $225,844 $115,660 ASSETS Current Cash and equivalents (Note 2) $166,395 $86,292 Accounts receivable 39,309 27,777 Inventory 152,093 146,150 Prepaid expenses 6,613 3,870 364,410 264,089 Capital assets (Note 3) 191,312 33,000 Endowment (partially restricted) (Note 4) 50,000 50,000 $605,722 $347,089 LIABILITIES AND MEMBERS' EQUITY Current Loans payable $15,373 $ - Accounts payable and accrued liabilities 108,649 122,363 Loans from related parties (Note 5) 105,398 102,313 Deferred revenue (Note 6) 63,856 6,753 Current portion of mortgage payable 1,400 294,676 231,429 Mortgage payable (Note 7) 85,202 - Members' equity 225,844 115,660 $605,722 $347,089 Contingency (Note 10)
On behalf of the Members:
Director
Director
