GRANTS 2010 CONTINUED Save the Children Canada
School District #61 - Greater Victoria SeaChange Marine Conservation Society Shawnigan Lake School Foundation
Sidney & North Saanich Memorial Park Society Sidney Concert Society Sidney Lions Food Bank Silver Threads Service
SJ Willis Alternative School
Sleeping Children Around the World Sooke Family Resource Society
Sooke Region Historical Society - Sooke Region Museum Spiritual Assembly of the Baha’is of Oak Bay Spiritual Assembly of the Baha’is of Victoria St. John’s United Church
St. John Ambulance - Victoria Branch St. Vincent de Paul Vancouver Island Stephen Lewis Foundation
Support Casa Guatemala Children Inc.
Surrounded by Cedar Child and Family Services Swan Lake Christmas Hill Nature Sanctuary Society
$5,513.50 $18,000.00 $5,000.00 $500.00
$16,750.00 $745.00
$6,500.00 $9,064.00 $300.00
$2,275.00 $16,594.00 $500.00
$1,625.00 $1,625.00 $2,500.00 $22.68
$2,000.00 $161.94
$2,000.00 $21,505.00 $7,500.00
SWOVA Community Development & Research Society $6,500.00 The Arthritis Society - BC & Yukon Division The Canadian National Institute for the Blind The Corporation of the District of Oak Bay The Curtis Institute of Music
$20,000.00
The First Open Heart Society of BC - Victoria Heart House Society
The Greater Victoria Coalition to End Homelessness Society
The New Marine Centre Society
The Pembina Foundation for Environmental Research & Education
The Power of Hope Society
The Story Theatre Productions Society Thompson Rivers University - Financial Aid Threshold Housing Society Tides Canada Initiatives Society
Times Colonist 1000 Christmas Fund TLC, Land Conservancy of BC Together Against Poverty Society Tsay Keh Dene First Nation
$2,844.00
$132,190.85 $7,015.00
$2,000.00 $4,500.00 $20,000.00 $500.00
$7,425.00 $3,000.00 $1,000.00 $68,033.50 $2,160.00
Umbrella Foundation for Addictions and Mental Health UNICEF Canada
Unitarian Service Committee United Way of Greater Victoria Unity Church of Victoria
$1,832,610.01 $6,910.00 $513.50 $513.50 $350.00 $365.00
$6,073.00 $5,178.00 $588.23
University of Guelph University of Toronto University of Victoria
Vancouver Island Addiction & Recovery Society Vancouver Island Kidney Patients’ Association Vancouver Island Providence Community Association Vancouver Island University Foundation Vancouver Orphan Kitten Rescue Association Vancouver School of Theology
Variety Club of British Columbia - Tent 47 VGH & UBC Hospital Foundation Via Choralis Performance Society
Victoria Association for Community Living Victoria Birthright Society Victoria Brain Injury Society
Victoria Chinese Heritage Foundation Victoria Conservatory of Music Victoria Cool Aid Society
Victoria Disability Resource Centre
Victoria Epilepsy & Parkinsons Centre Society Victoria Gilbert & Sullivan Society
Victoria High School Alumni Association Victoria Hospice & Palliative Care Foundation Victoria Hospitals Foundation
Victoria Independent Film & Video Festival Victoria Native Friendship Centre Victoria READ Society
Victoria Riding for the Disabled Association Victoria Single Parent Resource Centre Victoria Symphony Society
Victoria Theatre Guild and Dramatic School Victoria Women’s Sexual Assault Centre Victoria Women’s Transition House Society Victoria Youth Empowerment Society Volunteer Victoria
Wachiay Friendship Centre WaterCan
We Rage, We Weep Alzheimer Foundation West Coast Environmental Law Wildlife Rescue Association of BC World Federalist Movement - Canada World Fisheries Trust World Wildlife Fund
YM/YWCA of Greater Victoria Young Parents Support Network
Youth Parliament of BC Alumni Society $350.00
$5,000.00 $31,408.00 $5,000.00 $26,000.00 $7,390.00 $2,500.00 $69.48
$5,000.00 $131.94
$1,000.00 $2,410.00 $19,605.00 $2,000.00 $40.00
$600.00
$397,677.48 $96,948.27 $3,539.00 $250.00
$2,535.00 $2,455.00
$168,264.00 $3,432.00 $16,500.00 $15,500.00 $4,225.00 $800.00
$28,050.00 $58,703.69 $15,430.00 $425.00
$16,045.00 $2,100.00 $41,500.00 $1,500.00 $1,220.00 $7,100.00 $513.50 $513.50
$1,000.00 $10,600.00 $2,334.00 $2,800.00 $26,000.00 $585.00
We are pleased to report to our fund holders, donors and community partners our financial results for the fiscal year ending December 31, 2010. This past year has seen the revisions and Board of Director approval of both the Victoria Foundation Investment Policy and Distribution Policy. We met with our Hosted Organization Fund holders twice in 2010 to ensure these policy updates were effectively communicated to the organizations entrusting us with their endowments. Our Investment Policy continues to mandate a balanced and prudent approach to the long-term investment of our assets, and our Distribution Policy has set a target spending rate of 4.0% over the long-term to ensure a stable and strategic flow of funding to our community. As well, continued stable recovery in the markets provided our endowments an average return over the past 10 years of 6.2%. Members of both these committees and our financial management staff continue to meet regularly to provide accurate and effective oversight of the Foundation’s assets, entrusted to us by you, our community. Thank you for your continued support.
MESSAGE FROM OUR COMMITTEES’ CHAIRS
Andrew Jackson, CA
Chair – Finance and Audit Committee
Robert Worth, CA
Chair – Investment Committee
AUDITORS' REPORT To: The Board of Directors of The Victoria Foundation
Report on Summary Financial Statements. The accompanying summary financial statements, which comprise the summary statement of financial position as at December 31, 2010, and the summary statement of operations and changes in net assets for the year then ended, are derived from the audited financial statements of The Victoria Foundation for the year then ended December 31, 2010. We expressed an unmodified audit opinion on those financial statements in our report dated March 25, 2011. The summary financial statements do not contain all the disclosures required by Canadian generally accepted accounting principles. Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of The Victoria Foundation.
Management’s Responsibility for the Summary Financial Statements. Management is responsible for the preparation of a summary of the audited financial statements in accordance with Canadian generally accepted accounting principles.
Auditor’s Responsibility. Our responsibility is to express an opinion on the summary financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standards.
Opinion. In our opinion, the summary financial statements derived from the audited financial statements of The Victoria Foundation for the year ended December 31, 2010 are a fair summary of those financial statements, in accordance with Canadian generally accepted accounting principles.
Victoria, BC March 25, 2011
Chartered Accountants 29
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