Highlights of the Statement of
Operations ($000s)
2024 2023
Donations & Special Events $3,070 $3,711
Investment Income (Loss) $737 $690
Total Revenue $3,807 $4,401
Fundraising $114 $364
Program and Administration Costs $563 $481
Net Expenses $677 $845
Contributions to TFS $1,891 $1,944
Excess (Deficiency) of
Revenue Over Expenses
$1,239 $1,612
Highlights of the Statement of
Financial Position ($000s)
2024 2023
Total Current Assets $10,417 $7,454
Investments $2,151 $4,135
Total Assets $12,568 $11,589
Total Liabilities $501 $761
Net Assets $12,067 $10,828
TFS Foundation
Shael Kalef
Chair, TFS Foundation Investment
and Finance Committee
I am pleased to provide this financial
summary on behalf of the TFS Foundation
Investment and Finance Committee during
this exciting time.
Foundation assets increased to $10.8 million.
The Foundation has continued to be able
to support the design phase of the Master
Campus Plan.
During the year ending June 30, 2024, the
TFS Foundation made grants to TFS totalling
$1.9 million to support capital projects and
the Master Campus Plan for both campuses.
TFSF grants also continued to support
scholarships and bursaries, as well as other
experiential learning initiatives and projects,
creating access and enhancing educational
opportunities for current and future students.
77 TFS
