1 9 R A P P O R T À N O T R E C O M M U N A U T É 2 1 /2 2
Total Revenue $ 2,182 $ 3,161 $ 2,610
Fundraising $ 40 $ 32 $ 87
Program and Administration Costs $ 448 $ 409 $ 506
Net Expenses $ 488 $ 441 $ 593
Grants to TFS $ 1,368 $ 689 $ 1,431
Excess (Deficiency) of
Revenue Over Expenses $ 326 $ 2,031 $ 586
Highlights of the Statement of
Operations ($000s)
Donations and Special Events $ 2,786 $ 2,537 $ 2,774
Investment Income $ (604) $ 624 $ (164)
Shael Kalef
Chair, TFS Foundation Investment
and Finance Committee
I am pleased to provide this financial summary
on behalf of TFS Foundation's Investment and
Finance Committee.
Foundation assets increased to $9.2 million.
Fundraising revenue increased to $2.8 million
and net revenue saw a modest increase, as
challenging market conditions weighed on
investment performance. TFS Foundation
continues to grow its fundraising program
year-over-year and this positions the
organization well for the future.
During the year ending June 30, 2022, TFS
Foundation made grants to TFS totalling
$1.4M to support capital projects at both the
Toronto and Mississauga campuses, including
improvements to La Terrasse and the West
Campus electrical upgrade. TFS Foundation
grants also continued to support scholarships
and bursaries, and pandemic-related expenses.
TFS Foundation
Total Current Assets $ 945 $ 738 $ 759
Investments $ 8,684 $ 8,287 $ 6,164
Total Assets $ 9,629 $ 9,025 $ 6,923
Total Liabilities $ 413 $ 135 $ 65
Net Assets $ 9,216 $ 8,890 $ 6,858
Highlights of the Statement of
Financial Position ($000s)
2021 2022 2020
The graduating
Class of 2022
celebrates!
