Highlights of the Statement of
Financial Position ($000s)
Total Current Assets $ 759 $ 624
Investments $ 6,164 $ 5,790
Total Assets $ 6,923 $ 6,414
Total Liabilities $ 65 $ 142
Net Assets $ 6,858 $ 6,272
Total Revenue $2,610 $2,031
Fundraising $87 $92
Program and Administration Costs $506 $506
Net Expenses $593 $598
Grants to TFS $1,431 $1,310
Excess (Deficiency) of
Revenue Over Expenses $ 586 $ 123
Highlights of the Statement of
Operations ($000s)
Donations and Special Events $ 2,774 $ 1,859
Investment Income $ (164) $ 172
Shael Kalef
Chair, TFS Foundation Investment and
Finance Committee
I want to thank Bert Powell for his
leadership as Chair of the TFS Foundation
Investment and Finance Committee from
2014-2020. The TFS Foundation ended
the year with an asset base of $6.8M, an
increase from $6.2M last year. Revenue
from current and prior year commitments
totalled over $2.8M, up from $2.0M last
year. The Foundation was able to support
its investments in operating infrastructure,
increase its contributions to the school by
9%, and generate a small surplus.
With its mandate to focus on fundraising
activities, the TFS Foundation has
exceeded its revenue goals for the past
three years, and is well-positioned
to support the future development of
the school.
2020 2019
TFS Foundation
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