2 3 R A P P O R T À N O T R E C O M M U N A U T É 2 0/2 1
Total Revenue $3,161 $2,610 $2,031
Fundraising $32 $87 $92
Program and Administration Costs $409 $506 $506
Net Expenses $441 $593 $598
Grants to TFS $689 $1,431 $1,310
Excess (Deficiency) of
Revenue Over Expenses $2,031 $586 $123
Highlights of the Statement of
Operations ($000s)
Donations and Special Events $2,537 $2,774 $1,859
Investment Income $624 $(164) $172
Shael Kalef
Chair, TFS Foundation Investment
and Finance Committee
I am pleased to provide this financial ummary
on behalf of the Investment and Finance
Committee, TFS Foundation.
TFS Foundation ended the year with an asset
base of $8.9 million, an increase of $2 million
over last year. Revenue from current and prior
year commitments, as well as investment
income, increased to $3.2 million.
Grants to TFS are lower than previous years
because of timing and construction delays
caused by the pandemic. Approved grants will
be made over the course of the next fi cal year.
Tuition fees allow the school to cover its
operating costs. However, it is our community's
philanthropic support that provides TFS with
the means to enrich the educational program,
enhance facilities like La Terrasse, and provide
life-changing bursaries and scholarships.
TFS Foundation
Terrain
Frazer Field.
Total Current Assets $738 $759 $624
Investments $8,287 $6,164 $5,790
Total Assets $9,025 $6,923 $6,414
Total Liabilities $135 $65 $142
Net Assets $8,890 $6,858 $6,272
Highlights of the Statement of
Financial Position ($000s)
2020 2021 2019
