A place to call home. - A Port In The · PDF fileA HUGE THANK-YOU TO OUR GENEROUS DONORS THIS...

A place to call home.

A PORT IN THE STORM | ANNUAL REVIEW | 2014/15

Our Vision

Supporting rural and northern patients and their families.

Our Mission

A Port in the Storm serves rural and northern adults who require medical treatment in Winnipeg. We will provide a safe, supportive, and affordable home-like environment for these patients and their families.

Achievement of the organizations and the HOUSE’s mission statements is predicated on our belief in certain values:

Quality of Life The right of individuals to focus on health rather than housing. A relaxed, home-like environment contributes to an improved attitude and sense of well-being.

Dignity Is sustained by mutual respect among staff, volunteers, and guests within the organizational structure. Every staff member, volunteer, donor, and guest will be valued for their role and contribution.

Caring We recognize the intrinsic value of caring through collaboration with health care institutions and staff.

Fiscal Accountability We promote efficient and responsible utilization of resources.

CollaborationWe will bring together human and financial resources with ingenuity, respect, and responsibility.

MESSAGE FROM THE PRESIDENT AND EXECUTIVE DIRECTOR

Patricia Benjaminson, President

It’s with great enthusiasm we conclude our 2014-2015 fiscal year. Since opening our doors in 2012, we have demonstrated the local relevancy of our services and support to the many communities we serve across Manitoba, Northwestern Ontario and places as far north as Nunavut. In addition to serving these regions, we are grateful for our partnerships with St. Boniface Hospital, Health Sciences Centre and many of the community hospitals.

Over the past twelve months, we have seen a combination of hard work and commitment from so many partners such as health care professionals, staff and volunteers who continue to help more and more families in need and strive for excellence. Through the generous contributions of our donors, community partners, volunteers and stakeholders, we are able to help over 200 families this past year and with certainty have provided a ‘place to call home.’

Over the past year, we have established and strengthened polices and infrastructure to support our growth and future development. Some of these milestones included expansion of volunteer committees, updating our vision, mission and values for relevancy and upgrades in information technology, generously supported by The Winnipeg Foundation.

The following report highlights the organizational accomplishments which are reflective of this milestone year and pays tribute to everyone who gave of their time, expertise and financial support to ensure that we realize through our collective goals, we can provide a ‘place to call home’ for our families who are receiving medical care.

On behalf of A Port in the Storm Board of Directors and staff – thank-you! With a special thank-you to all of the guests and their families who have welcomed us into their lives and show us strength and courage on a daily basis.

All the best,

Stacey Grocholski, Executive Director

Pat Benjaminson RN, President

Stacey Grocholski, ED

BOARD OF DIRECTORS

Patricia Benjaminson, PresidentHeather Emerson-Proven, Vice-PresidentValerie Strath, TreasurerJoanne Loughery, Past PresidentSharon StevensLeah KosokowskyLawrence TraaRob ElderDonna McKenzie *resigned July 2015

STAFF

Stacey Grocholski, Executive DirectorDebby-Lute Storey, House ManagerMaria Harper, House Manager (on leave)Cara Adams, CasualSophia Petryk, Casual

COMMITTEES

Board Development and Nominations

Joanne Loughery, ChairPatricia BenjaminsonLeah KosokowskyStacey Grocholski

Board Governance and Policy

Heather Emerson-Proven, ChairDr. David SzwajcerSharon StevensLeah KosokowskyPatricia BenjaminsonStacey Grocholski

Finance

Valerie Strath, ChairLawrence TraaDebby Lute-StoreyStacey Grocholski

Partnerships

Joanne Loughery, ChairLawrence TraaSharon StevensCrystal GregoirePatricia BenjaminsonStacey Grocholski

Marketing and Communications

Stacey Grocholski, ChairKristin HancockAlyson PilePatricia Benjaminson

Building

Rob Elder, ChairGary CarrWade BenjaminsonGuy GeorgeLawrence Traa Greg Pilgrim

Advisors to the Board

Dr. David Szwajcer, MedicalBryan Luce, HRBruce King, Legal

STATISTICS (2014-2015 FISCAL YEAR)

UNOCCUPIED 22%

OCCUPIED 78%

OCCUPANCY

SOUTHERN 4%

PRAIRIE MOUNTAIN 27%

INTERLAKE EASTERN 4%

WINNIPEG 1%SASKATCHEWAN 3%

NORTHERN 41%

ONTARIO 16%

UNKNOWN 1%

NUNAVUT 3%

REGIONS

DIAGNOSIS

CANCER 69%

SURGERY 2%

PEDIATRIC 2%UNKNOWN 2%

CARDIAC 13%

DIAGNOSTIC 5%

RENAL-DIALYSIS 7%

A HUGE THANK-YOU TO OUR GENEROUS DONORS THIS PAST YEAR!

Donations of $1 - $499

Stephanie BerriganKofi TorpeyChristine AndersonMandy BergRamil Dela CruzJustin SawlerJeff VandramelliEleanor AireyJoan LajambeDoug & Ellen LongHeather FisherMyrna AdamsChris AmmarGrace AndersonJim AshtonColleen BoutangMabel & Charles BradeGrant ButlerLynn CaldwellGarth DechDan DekezelP. DuncanCourtney DurnfordLorrie DyerFranca GillespieCliff & Diane GouldieNorah Gray

Craig & Karen GuginTanis HallDenis HebertRyan HowardTillie & Wayne JohnsonAlice MacFarlansDonna & Ernest MansfieldGary MarxSally McDonaldJean McKinnonGraham NecykValarie NordquistHoward NorekJackie RainkieCindy RoutledgeMichelle RoutledgeBetty RuddNorma SheardownLenora ShierDon & Donna ShorrockBernice SildeMavis SmithArt StangleClayton ThompsonDonelda TibbattsCalude ToltonCathy & Leonard WarkMarianne Whyte

Leslie WrightStephanie CisarMorag ApostleMarilyn BerknerJoan BolducMargaret BoonstraAndy CardyStacie CardyRaymond Charles & Vera CherneckiKevin DuguidHelen FinnieCorrine Faith Slide GinterWalter HiebertNigel & Caroline JeanesJohn KinczyloPeggy KirkRichard KroppAudrey LarmonDolores LaurendeauBart LobbRenee MacleanPete MagierowskiMarguerite McAlpineDennis & Donna McLeodIone MorashDerek & Shirley Anne MurrayStan PatenaudeVerna Polcyn

Roberta & Clarence PrawdzikWilfred PriceSteffie PrydunDon & Virginia RogersPhyllis SawatzkyDorothy StokerPatricia SurowyStanley & Lillian SwiderskiRaymond & Donna ToddElizabeth WilliamsVaughn & Frances WilsonDeepdale Ladies AidLinda & Larry CoulthardCynthia DraperGeordena & Edwin JohnsonMarvin & Patricia JohnsonLinda & Larry CoulthardLarry MaguireMary & Gordon McPheeSarah PrudenAlbert & Geraldene QuonKeith RitchieBarry & Kathy RoutledgeMarie TaplinMark & Rena TherrienLoree WedderburnRandy & Joan BowmanJean CaldwellBecky DoironVelma DoupeDouglas & Irene DraperCarol HunterIan & Beth McPhaden

Jasper MunozMatthew PalmerPat RamptonCarole & Lenard BaconHazel BailyRosalie BeamishRuth BergmanTony BokenLorene & Dale BonnetteDr. Ray C. BrightPaulo CabralAllan CameronMorris & Irene ClarkeHarding Community ClubCommunity Futures Triple R CorporationLarry & Tonis CoulsonGarry DraperHolly DraperJulia Ward DunnGail DupontBarb & Jim DutchieRobert & Sharon FinesDavid & Karyn FormoTony FranklinJudith & Lawrence GalickRobert & Wilma GenungArnold & Sonia GiesbrechtEverett GurrMary Ida HerbertStella & Clarence HildebrandLlyod & Ihros HopleyJanice Hunt

Marlene & Cameron HunterDennis JonassonAndrew & Stephanie KlassenSusan & David LindsayLarry & Myrna LivingstonJoyce MacDuffChrissy MacKinnonRonald & Joy MackenzieLinda Joan MaliteareNorma MarciDenise MarstonMichelle MartinLew McClurgGrace McTavishBrad MillsCressida MillsBranko MilosevicKaren MitchellStan & Lorraine NankivellColleen NelsonJanice NorieDave & Jacki NylenGordon & Myrna OrrKeith & Brenda OrrIrene OsinchukMaria (Mary) PetersRicky PhillipsJohn Curtis RoseveareSheldon SeafootPatricia ServatkaGraham ShawDonna SlackWarren & Margaret Smallwood

Barry & Jeanette SmithCarl SmithGeoffrey & Rose SmithSnow Lake Health AuxillaryMaureen & Leo SteinfeldRoma StevensonK. TorgrudElsie WedgewoodBarb WilliamsJudy YahnkeFritz EngelD. Robin JohnsonManitoba Public InsuranceJ. Leith CorneyValdine DoeringPatricia & Brian KerrSharon HildebrandEileen KentBonnie MazurGerald & M. Lynne SmithPeter SpencerDonald IkmanKaren InnesMarianne WhyteAnna EliasDr. Kourosh Alamian-HarandiCountry Meadows Nurses MNU Local 20Manitoba Nurses Union Local 71Gordon BoerchersLinda BuchananRalph BucklandCarlyle CameronDennis Cameron

Carman Nurses Union Local 89Julia ChambersCora Hartigan & Patrick FloodMary E CurtisLora DobsonRoberta DyckCarol EllingsonSouth Wind Acres FarmRand FinlayLynne GauldBruce GowansBarry & Gwen GreenTops #MB 3963 HamiotaLori HawkinsElizabeth HinchMargaret HinksGwen HoffmanHoryshen HoldingsEileen & Grant JacksonJohn Van Haaren / Pamela AchurchDawn Marie JohnstonKatherine KlassenClement Charriere & Irene LansardCycelia LazarowichJ. Eric LoweM&B Abel Farms Ltd.Carol Lynn MaxwellElizabeth McInerneyRonald McLeodLinda MillsSuper 8 MotelJerry MyersRay OgibowskiLisa Pearson

Calvin & Barbara PituraDoyle PiwniukPeter PlettR.C.M.P. Veterans AssociationLes RankinLeo & Diane RobertMary Ann StevensonVal StrathMarjorie ThompsonLenore W.I.Coleen WallaceLes & Patricia WoodJS FurnitureLucille CanartHortense WilcottRene WilcottHi-Tech Social CommitteeEagle 93.5Adam BrownMichael CarrFergus ClearlyCooperatorsRichard DyckTerry DyckNathan EliasJake FehrConcentra FinancialBob FriesenGreg HesomAbe HilderbrandJim HuntJohn JanzenScott Johnson

Bernie KrahnMNPBob McPhersonWiens Doell Law OfficeMark PetersEnterprise RielImpact SignsSwan Valley Credit UnionBev KruegerTralle Works Ltd.My Tribute Gift FoundationRaymond & Nancy BayneDeloraine School Social Justice CommitteeGrant & Susan GugardConcordia Manitoba Nurses Union Local 27Robert J. McIntyre & AssociatesJim BondGary & Margaret BrownPamela BrownGordon & Terri HallKaren HumeniukHarry & Connie Ellis Farms LtdMarie & James ScottHSC Retirees AssociationPam FroeseSandra DoellBen DuekJake JanzenDennis KehlerRay KirkDarrell LoewenJim Neufeld

JPB RepairMNU Local #113Minnedosa Nurses Union Local 31Tache Nurses Union Local 49Birch River Legion Ladies AuxiliaryKen & Merrilee BondCrossroads Community ChurchMelvin & Janice DixonJack & Gwen HoustonSandra KeatesBrian KellsGloria KrahnLadies Auxiliary Flin FlonCatholic Womens LeagueRed River Valley Manitoba Nurses Union Local 35Susan RosenbergMichael & Donna SmalleyDorothy SyslakVirden and District Nurses – Manitoba Nurses Union Local 40Irene WiebeGary CarrDavis & HendersonDGCMDrew LockhartKeith LougheryFriesen’s Business MachinesDoug RempelMB Nurses Union Stonewall Local 106Patricia & John GrayJason & Barbara Hodson

Whyte’s LumberMNU Worksite 16Manitoba Nurses Union Local 17 - SourisIona GaudetMarilynn ShimkusIDC CommunicationsFriesens CorporationMicroage ManitobaEagleye PrintingTelexpertsDonna MooreNeepawa U.C.W.Phil UnrauCumis Insurance CompanyFriesen InsuranceLeatherdale InsuranceCurt LetkemanChicken ChefMarlene JacksonBoiteau Ent LTDJillian WhitfordHeather Emerson-ProvenCredit Union Central of ManitobaRANA Respiratory GroupCity of MordenAssiniboine Credit UnionCatalyst Credit UnionEntegra Credit UnionNiverville Credit UnionSunova Credit UnionSunrise Credit UnionWinnipeg Police Credit Union


Bethesda Nurses Local 101Neepawa Nurses Local 12Portage La Prairie Nurses Union Local 39Manitoba Nurses Union Local 41Winnipeg Home Care Nurses Worksite 97The Great West Life Assurance CompanyYolande FreynetSWS GroupPatricia Hawkins

Helen KleinParkland Community Nurses Local 122Greg PilgrimThompson Nurses Union Local 6 Mo Tus Nua YogaCELEROManitoba Hydro, BrandonAnglican United ChurchGreen Valley EquipmentGrandeur/BerdickDA Loewen

Piston Ring ServiceGTPSimmons Multi-MediaLarry DaveySian BarrowAlbert FisherBDODecor CabinetsPullan Kammerloch FrohlingerPatricia Benjaminson


United Way of Calgary and AreaBrian LagimodiereHarry G. McGillivaryRadisson Fire DepartmentShare & Care St. RoseSt. Boniface Nurses Local #5Lawrence TraaAmerican Women’s Club of WinnipegLadies Auxiliary of the Canadian Legion Kenton Br #118Robert Beriault

Veron Consultants Inc.CRI CanadaStead and Area New Horizon Senior ClubVariety AdvertisingCo-op WinklerVirden & District Health AuxillaryWilma & Evan BellThe Pas Metis Association Inc. CanteenManitoba Hydro, GillamMinnedosa Rotary Club

Michael & Sheila PaddonAccess Credit UnionRoblin and District Lion’s ClubMinnedosa Credit Union


R.M. of Kelsey

Donations of $10,000 +

The Thomas Sill FoundationDr. Donna WallKaren MathieuManitoba Hydro

Michael & Sheila PaddonAccess Credit UnionRoblin and District Lion’s ClubMinnedosa Credit Union

THANK YOU SO MUCH TO ALL OUR DONORS!

A PORT IN THE STORM FINANCIAL STATEMENTS

MARCH 31, 2015

Independent Auditors’ Report

To the Directors of A Port in the Storm Inc.:

We have audited the accompanying financial statements of A Port in the Storm Inc., which comprise the statement of financial position as at March 31, 2015, and the statements of operations, changes in net assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian accounting standards for not‑for‑profit organizations, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion.

Basis for Qualified OpinionIn common with many charitable organizations, the Organization derives revenue from donations, contributions and fundraising activities, the completeness of which is not susceptible of satisfactory audit verification. Accordingly, our verification of these revenues was limited to the amounts recorded in the records of the Organization and we were not able to determine whether any adjustments might be necessary to donations, contributions, fundraising, deficiency of revenues over expenses, current assets and net assets.

Qualified OpinionIn our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements present fairly in all material respects the financial position of A Port in the Storm Inc., as at March 31, 2015, and the results of its operations, changes in net assets and its cash flows for the year then ended in accordance with Canadian accounting standards for not‑for‑profit organizations.

Winnipeg, Manitoba August 9, 2015

Chartered Accountants

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2015 2014

AssetsCurrent Cash (Note 3) Accounts receivable (Note 4) Goods and services tax Prepaid expenses and deposits

124,99128,590

1,500500

167,40723,385

4,636500

155,581 195,9281

Capital assets (Note 5) 1,097,735 112,604

Investments (Note 6) 255,791 280,330

Patronage equity 1,000 8,182

1,510,107 1,597,044

Liabilities

Current Accounts payable and accruals (Note 7)

18,464 42,490

Deferred contributions related to capital assets (Note 8) 122,618 104,821

141,082 147,311

Net Assets Unrestricted Invested in capital assets

371,290997,735

441,9501,007,783

1,369,0251,449,733

1,510,107 1,597,044

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE THESE FINANCIAL STATEMENTS

Approved on behalf of the Board

Director Director

A Port in the Storm Inc.

Statement of Financial PositionAs at March 31, 2015

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Statement of OperationsAs at March 31, 2015

2015 2014

Revenues

Rental incomeDonationsMealsFundraisingCleaningParking

229,854169,199

21,57517,420

6,6241,828

186,300154,239

-192

--

446,500 340,731

Expenses

AdvertisingAmortizationBad debtBank charges and interestFundraisingGoods and Services Tax and sales taxInsuranceMeals and entertainmentOffice supplies and otherProfessional developmentProfessional feesProperty taxesRentRepairs and maintenanceSalaries and benefitsTelephoneUtilities

29515,304

1,3563,657

10,8491,554

13,82121,39217,463

1,22327,41527,509

236,72515,246

132,0224,5498,339

61316,514

-2,648

19,5264,636

12,8554,954

11,3301,847

42,23014,636

222,13023,328

123,0764,8765,640

538,719 510,839

Deficiency of revenues over expenses (92,219) (170,108)

Other items

Interest income Unrealized gain on investmentsUnrealized interest income on investments Loss on disposal of investmentProceeds from insurancePatronage dividends

8992

3,625(548)6,2331,201

596586

3,154--

9,010

11,511 13,346

Deficiency of revenues over expenses (80,708) (156,762)

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Statement of Changes in Net AssetsAs at March 31, 2015

UnrestrictedInvested in

capital assets 2015 2014

Net assets, beginning of year 441,950 1,007,783 1,449,733 1,606,495

Deficiency of revenues over expenses (65,404) (15,304) (80,708) (156,762)

Capital asset purchases 435 (435) – –

Transfers (4,821) 4,821 – –

Net assets, end of year 371,290 997,735 1,369,025 1,449,733


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Statement of Cash FlowsAs at March 31, 2015

2015 2014

Cash provided by (used for) the following activities Operating

Deficiency of revenues over expensesAmortizationUnrealized gain on investmentsUnrealized interest income on investmentsLoss on disposal of investments

(80,708)(156,762)

(992)(3,625)

548

(156,762)16,514

(586)(3,154)

–

(69,473) (143,988)

Changes in working capital accounts

Changes in working capital accounts Accounts receivableGoods and services taxAccounts payable and accrualsDeferred contributions related to capital assets

(5,205)3,136

(24,026)17,797

(3,821)3,089

(22,690)4,821

(77,771) (162,589)

Investing

Purchase of capital assetsPurchase of investmentsProceeds on disposal of investmentsAdvances of patronage equityPatronage equity received

(435)(1,392)30,000

–7,182

(60,187)-

200,000(8,182)

-

35,355 131,631

Decrease in cash resourcesCash resources, beginning of year

(42,416) 167,407

(30,958) 198,365

Cash resources, end of year 124,991 167,407


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Notes to the Financial StatementsFor the year ended March 31, 2015

1. Incorporation and nature of the organization

A Port in the Storm Inc. (the “Organization”) is incorporated as a not-for-profit entity under the Corporations Act of Manitoba and is a registered charity under the Income Tax Act. Its goal is to provide safe, supportive and affordable accommodations for out of town adults while staying in the city for medical treatments.

The Organization is registered as a charitable organization under the Income Tax Act (the “Act”) and as such is exempt from income taxes and is able to issue donation receipts for income tax purposes. In order to maintain its status as a registered charity under the Act, the organization must meet certain requirements within the Act. In the opinion of management, these requirements have been met.

2. Significant accounting policies

The financial statements have been prepared in accordance with Canadian accounting standards for not-for-profit organizations and include the following significant accounting policies:

Cash Cash includes balances with banks. Cash subject to restrictions that prevent its use for current purposes is

included in restricted cash.

Revenue recognition The Organization follows the deferral method of accounting for contributions. Restricted contributions are

recognized as revenue in the year in which the related expenses are incurred. Unrestricted contributions are recognized as revenue when received or receivable if the amount to be received can be reasonably estimated and collection is reasonably assured. Endowment contributions are recognized as direct increases in net assets.

Revenues from rental operations are recognized when services are provided.

Capital assets

Purchased capital assets are recorded at cost. Contributed capital assets are recorded at fair value at the date of contribution if fair value can be reasonably determined.

Amortization is provided using the declining balance method at rates intended to amortize the cost of assets over their estimated useful lives.

In the year of acquisition, amortization is taken at one-half of the rates noted below.

Equipment Rate 20%

Long-lived assets

Long-lived assets consist of capital assets. Long-lived assets held for use are measured and amortized as de-scribed in the applicable accounting policies.

When the Organization determines that a long-lived asset no longer has any long-term service potential to the Organization, the excess of its net carrying amount over any residual value is recognized as an expense in the statement of operations. Write-downs are not reversed.

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Contributed services

Contributions of services are recognized both as contributions and expenses in the statement of operations when a fair value can be reasonably estimated and when the services are used in the normal course of the Organization’s operations and would otherwise have been purchased.

Deferred contributions related to capital assets

Deferred contributions related to capital assets represent the unamortized portion of restricted contributions that were used to purchase the Organization’s building under construction. Recognition of these amounts as revenue is deferred to periods when the related capital asset is amortized.

Measurement uncertainty

The preparation of financial statements in conformity with Canadian accounting standards for not-for-profit organizations requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period.

Accounts receivable are stated after evaluation as to their collectability and an appropriate allowance for doubtful accounts is provided where considered necessary. Amortization is based on the estimated useful lives of capital assets.

These estimates and assumptions are reviewed periodically and, as adjustments become necessary they are reported in the statement of operations in the periods in which they become known.

Financial instruments The Organization recognizes its financial instruments when the Organization becomes party to the contractual

provisions of the financial instrument. All financial instruments are initially recorded at their fair value.

At initial recognition, the Organization may irrevocably elect to subsequently measure any financial instrument at fair value. The Organization has not made such an election during the year.

The Organization subsequently measures investments in equity instruments quoted in an active market at fair value. Fair value is determined by published price quotations. Investments in equity instruments not quoted in an active market are subsequently measured at cost less impairment. With the exception of those instruments designated at fair value, all other financial assets and liabilities are subsequently measured at amortized cost.

Transaction costs and financing fees directly attributable to the origination, acquisition, issuance or assumption of financial instruments subsequently measured at fair value are immediately recognized in the statement of operations for the current period. Conversely, transaction costs and financing fees are added to the carrying amount for those financial instruments subsequently measured at amortized cost or cost.

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3. Cash

2015 2014

Cash for operationsCash reserved for future capital asset purchases

102,373 22,618

162,5864,821

124,991 167,407

4. Accounts receivable

2015 2014

Accounts receivableInsurance proceeds receivablePatronage dividends receivable

22,5136,2331,200

23,385––

Allowance for doubtful accounts29,946

(1,356)23,385

–

28,590 23,385

5. Capital assets

2014

CostAccumulatedamortization

Net book value

Building under constructionEquipment

1,036,300101,288

–39,853

1,036,30061,435

1,137,588 39,853 1,097,735

2014

CostAccumulatedamortization

Net book value

Building under constructionEquipment

1,036,300100,853

–24,549

1,036,30076,304

1,137,153 24,549 1,112,604



6. Investments

2015 2014

Measured at fair value: Assante Mutual Fund Investment Royal Bank of Canada Mutual Fund Investment

43,389212,402

70,598 209,732

255,791 280,330

7. Accounts payable and accruals

2015 2014

Trade accounts payablePayroll liabilitiesVacation payable

10,328 3,179

4,957

32,4337,8222,235

18,464 42,490

8. Deferred contributions related to capital assets

Deferred contributions consist of unspent contributions externally restricted for capital expenditures. Recognition of these amounts as revenue is deferred to periods when the specified expenditures are made. Changes in the deferred contribution balance are as follows:

2015 2014

Balance, beginning of yearAmount received during the year

104,82117,797

32,4337,822

Balance, end of year 122,618 2,235



9. Commitments

The Organization has entered into various lease agreements with estimated minimum annual payments as follows:

2016 266,055

10. Financial instruments

The Organization, as part of its operations, carries a number of financial instruments. It is management’s opinion that the Organization is not exposed to significant interest, currency, credit, liquidity or other price risks arising from these financial instruments except as otherwise disclosed.

Credit concentration

As at March 31, 2015, four customers accounted for 65% of the accounts receivable. The Organization believes that there is no unusual exposure associated with the collection of these receivables. The Organization performs regular credit assessments of its customers and provides allowances for potentially uncollectible accounts receivable.

MORE INFORMATION:

Phone: (204) 231-0720 Fax: (204) 594-6435

E [email protected] W: aportinthestorm.ca

LOCATION:

101-311 Alexander AvenueWinnipeg, Manitoba

R3A 0M9

MAILING ADDRESS:

Box 85Winnipeg, Manitoba

R2H 3B4

OFFICE HOURS:

8:30 am – 4:30 pm Monday to Friday

A place to call home. - A Port In The · PDF fileA HUGE THANK-YOU TO OUR GENEROUS DONORS THIS...

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Transcript of A place to call home. - A Port In The · PDF fileA HUGE THANK-YOU TO OUR GENEROUS DONORS THIS...