Thunder Bay Community Foundation 2016 Annual Report

Transcription

1 Thunder Bay Community Foundation 2016 Annual Report Nurture Your Passion Build Our Community Create A Legacy

2 Message from the President 2016 was a year of change and I am honoured to have such a hard working Board and incredibly generous and committed donors who joined with us to make a difference. We did a lot of heavy lifting in the areas of Finance, Governance and gifting. As our portfolio approached the 10 million mark we determined it was time to review our investment options and we brought on Mawer Investment Management. (Look at the article in the Finance Section for the process). Mawer was founded in 1974 and has assets of over 40 billion. They also work with a large number of other Community Foundations. The Finance Policies were updated, revamped and new ones were created to come in line with our Portfolio Management change. I want to thank Jim Symington and Ken Chase for the work they did on our Finance Policies including Allocating Investments and Disbursements. It was exciting and gratifying for staff and the Governance and Investment Committees to have their expertise (both men have a stellar financial backgrounds) and their input was welcome and invaluable. (Have a look at the report section on Built for Donors by Donors.) Our Executive Director Bonnie Moore continues to work with charities bringing their special project needs to the attention of donors. Our donors have made a huge difference to many organizations including an investment of $50,000 to the 2016 Habitat for Humanity build. This challenge grant from an anonymous TBCF donor was instrumental in kick starting the fundraising effort of $50,000 more to complete the home on Finlayson Street for a special needs child and family of six. The TBCF has become a real family endeavor for Kelly and me. I have thoroughly enjoyed my time on the Board. As I watched our donors come forward and create family funds Kelly and I decided to start the building process of our own and made the Kelly & George Badanai Family Bursary. We also host the Grants Reception at Badanai Motors with the support of my work family and Neave our daughter has volunteered at the Receptions. This group extends to the Board, Alumni and donors. We gather regularly to celebrate our achievements at the Grants and Scholarship and Bursary Receptions; we connect through one on one discussions; commiserate at the Alumni and Donor Reception and do a lot of heavy lifting at Committee and Board Meetings. The TBCF family will continue to effect change in the lives of our fellow residents as we work together to build a legacy for our community in perpetuity. Our donors Nurture their Passion, Build Our Community and Create a Legacy. All that we do is made possible by our donors. They create funds that reflect their passion for our community. Because of their largess and vision we are able to fund charity programs and projects that do so much for so many 365 days a year. We are also able to give scholarships and bursaries to youth that make a difference for a life time. To the families who have left us Legacy Gifts in their wills, know we will work tirelessly to follow your wishes and dreams making sure our granting process continues to enrich and sustain our community. -George Badanai George Badanai with grant recipients George Badanai with donor Sue Simonsen George Badanai Opening the 2016 Grants Reception at Badanai Motors 1971 Foundation established with a gift from Prue Morton $3,800 in grants $8,537 in grants $5,500 in grants 1975 $6,881 in grants ar. TBCF receives the proceeds from the sale of the F.W Lawn Bowling Club

3 Stories Diane Mitchell (Former Habitat for Humanity CEO), Hrycyshyn family, Bonnie Moore (Thunder Bay Community Foundation Executive Director) HABITAT FOR HUMANITY REACHES GOAL In May, one of our generous donors challenged Habitat for Humanity to raise $50,000 by the end of June to match their donation of $50,000 to build a home for a very deserving Thunder Bay Family. The Hrycyshyn family s dream of having an accessible home will come to fruition. This new home will allow Taisha Hyrcyshn s oldest son, who is confined to a wheel chair to enjoy time with his mother and younger siblings in the comfort of their own home. Thanks to the hard work of Diane Mitchell, her team at Habitat for Humanity and many very generous donors in our community, the goal was reached and then some. Habitat for Humanity rose to the challenge and raised $62,562. This initiative really brought out the love in the community another anonymous TBCF donation for over $5,000 that was added to the project s funds. The Hrycyshyn family was overjoyed and joined Habitat for Humanity CEO Diane Mitchell and Thunder Bay Community Foundation Executive Director Bonnie Moore on July 8th to celebrate this great accomplishment. TBCF Executive Director), Joanne Tomlinson (Harbour Youth Services Executive Director), Lesley Bell(TBCF Trustee and Grants Committee Chair) and George Badanai (TBCF President) THANK YOU FROM HARBOUR YOUTH SERVICES EXECUTIVE DIRECTOR JOANNE TOMLINSON, 2016 GRANTS RECIPIENT REPRESENTATIVE On behalf of all of us here today, I would like to extend a sincere thank you to our wonderful hosts this evening! I m sure you would all agree that we have enjoyed this very warm and welcoming atmosphere, plus it s given us all a chance to forget, for a little while, the rain and the dreary weather outside. It is a great honor to be offered a few minutes to speak on behalf of the grant recipients this evening. I must say that for an introvert like me, public speaking is definitely NOT my favourite gig in the world, but as you probably know, Bonnie & MJ can be very persuasive! So I m here to give it a go! Just looking around this room you can t help but be struck by the number of amazing stories that make up the work that we collectively do for others in our community. The timing of these grant awards during the start of the Christmas season really amplifies and helps to remind us of the importance of the work we do. It is humbling and a great reminder that we are surrounded by many, many individuals who care deeply about the health and wellbeing of our community. Now we all know that the non-profit world is synonymous with grant writing. It s something I ve been doing for the past 14 years. Not always successfully. In fact, it s often really hard. I m sure a lot of you can relate. Since a good number of the grants we strive to get are from corporations or Foundations outside of our city, it can be very challenging to sell your non-profit s story and convince funders to part with money. With that being said, we are very fortunate to have an entity like the TBCF working on our behalf to support community needs. And they do it so very well. They are very approachable, respond quickly to our questions, they facilitate information sessions so we know exactly what funds are available and how to apply for those funds and they do so with very little fanfare. And so by your most enthusiastic applause, (think Will Ferrell in Elf) could you please join me in showing your appreciation for the TBCF and their tremendous gift to our community! -Joanne Tomlinson, Executive Director of Harbour Youth Services 1976 $10,300 in grants are 1977 $10,415 in grants are 1978 $11,370 in grants are 1979 $12,555 in grants are 1980 $11,990 in grants are

4 Scholarship Profiles We know they will be successful in their futures Bonnie Moore, Executive Director 2016 Scholarship and Bursary Recipients RECEPTION On June 15, 2016 at the Thunder Bay Art Gallery, the Board of Trustees, Donor and Friends of the Thunder Bay Community Foundation came together for the 2016 Scholarship and Bursary Reception. This event celebrates students from the Thunder Bay and the District of Thunder Bay academic achievements and community involvement. 21 students will received almost $70,000 in Scholarships and Bursaries this year. These students are great examples of what our community has to offer and they are our lasting legacy. We would like to thank all those who attended including our donors and friends of the Foundation and the volunteers that came together to help make the evening special for our recipients, their loved ones, and our wonderful school representatives. Mike Maher, Attorney with Buset and Partners LLP and a 2007 Recipient of the Joshua Dyke Scholarship Moving speeches were given by by Mike Maher, Attorney with Buset and Partners LLP and a 2007 Recipient of the Joshua Dyke Scholarship as well as Hanna Dahl of Nipigon-Red Rock District High School, a recipient of the Roy Seymour Rogers and Geraldine Ruth Rogers Scholarship. Paul Jasiura with Helen L. Dewar Scholarship recipients. Marika Listemaa with Superior North EMS Leslie Vance recipients. Cappy and Jim Cloquhoun (Donors) with Lesley Bell (Trustee and Scholarhip and Bursary Chair) and Rod Morrison (Donor) Hanna Dahl, 2016 Scholarship and Bursary Recipients Representative The evening was very successful. The students were a pleasure and very grateful. Our donors and board were thrilled to meet these very deserving individuals. Bonnie Moore (TBCF Executive Director) with donors Pritam Lamba, Kishore Sahkrani and Elizabeth Thomson 1981 $12,450 in grants are Edyth Mary Dyke leaves $1.1 million to TBCF in Estate 1982 $104,250 in grants are The Joshua Dyke Family Scholarship is established 1983 $108,093 in grants are $30,000 in scholarships are 1984 $70,803 in grants $66,400 in scholarships 1985 $48,575 in grants are $75,200 in scholarships are

5 Scholarships and Bursaries Art Warwick with Shirley H. & Meredith O. Nelson Scholarship recipient. Eugene Kotyk with Victor Stevenson Engineering Scholarship recipient. Ken Chase with Ross A Wilson Scholarship recipients. Susan Lester with Justice Ronald B. Lester Memorial Bursary recipients. Susan Jones with Roy Seymour & Geraldine Ruth Rogers Scholarship recipients. Sue Simonsen with The Arthur Widnall Bursary recipient. John A. McLean Scholarship Hannah Viau, Westgate CVI Shirley H. & Meredith O. Nelson Scholarship Brooke Grootenboer, Sir Winston Churchill CVI Superior North EMS Lesley Vance Bursary Chelsea Malakoff, Manitouwadge High School Katie Plummer, Superior CVI Hannah Knudson, Superior CVI Helen L. Dewar Scholarship Emily Delaney, Hammarskjold High School Joseph Wood, St. Ignatius High School Anastasia MacDonald, St. Ignatius High School Victor Stevenson Engineering Scholarship Nick Ivany, Hammarskjold High School Victor Stevenson Aviation Bursary Haley Leclair, Marathon High School Ross A Wilson Scholarship Kayla Mckee, Hammarskjold High School Amber Ziebarth, Hammarskjold High School Justice Ronald B. Lester Memorial Bursary Charity Mascotto, Geraldton Composite High School Laniah Scott, Hammarskjold High School The Arthur Widnall Bursary Devon Wanakamik, Superior CVI Roy Seymour & Geraldine Ruth Rogers Scholarship Andre Bourgeois, Manitouwadge High School Taylor Hunter, Manitouwadge High School Julie Ferguson, Marathon High School Julie Jaculak, Marathon High School Hanna Dahl, Nipigon-Red Rock District High School Silver Jubilee Scholarship Brendan Phyllis Ruth W. Black Memorial Bursary Arop Jok 1986 $41,120 in grants are $70,700 in scholarships. Mr. Arthur Widnall donates $111, $40,100 in grants are $44,700 in scholarships are 1988 Financial records for this year are unavailable 1989 Financial records for this year are unavailable 1990 $77,300 in grants are $54,500 in scholarships are

6 Grants The Foundation would like to give a great big thank you to our wonderful marking committee who were presented with the challenge of reading each application, grading them and then discussing the final results. These remarkable individuals have one of the hardest tasks of any committee. It is daunting because at the end of the day, there is rarely enough money to cover all the applications. This year, we gave out $146,735 through the granting progam, we received 83 applications for a total of $639, from a variety of charities all over Thunder Bay and the District of Thunder Bay. Our committee consisted of (pictured left-toright): Evan Neufeld, Paul Jasiura (TBCF Trustee), Jordan Lester (TBCF Trustee), Julie Cleghorn, Lesley Bell (TBCF Trustee and Grants Committee Chair), and Tracie Smith. Thunder Bay Boys and Girls Club receiving their grant from presenters Jim and Shirley Symington Shirley & James Symington Family Thunder Bay Boys and Girls Club Christopher Jean Memorial Shelter House JSTS St. James School - Emergency Blessings in a Back Pack for St. James School Habitat for Humanity receiving their grant from presenter Colin Bruce Anonymous Habitat for Humanity 2016 House Build Vancouver Community Foundation Keith Lord Sport Foundation P.R.O. Kids Margaret & Arnold Westlake Foundation for the Arts Thunder Bay Symphony Youth Orchestra - TBSYO 2017 Atikokan Tour Harbour Youth Services of Thunder Bay - Art Attack - Part II Big Brothers Big Sisters receiving their grant from presenter Julie Cleghorn Ontario Endowment For Children and Youth in Recreation Evergreen A United Neighbourhood - EverYouth Big Brothers Big Sisters - Hooked on Fishing Hanna & Victor Stevenson for Education and Arts Shelter House Thunder Bay - Through our Eyes in Four Seasons Magnus Theatre Company Northwest Incorporated - Invisible Disabilities Project Roots to Harvest - Expanding Classrooms 1991 $76,000 in grants are $40,500 in scholarships are 1992 $30,000 in grants are $40,000 in scholarships are 1993 $35,000 in grants are $24,000 in scholarships 1994 $28,000 in grants are $20,000 in scholarships 1995 $28,300 in grants $22,000 in scholarships Ruth Black donates $249,000

7 Grants Northwestern Ontario Aviation Heritage Centre receiving their grant from presenter Maria Hudolin Save Our Songbirds receiving their grant from presenter Diane Chase, Keri Chase Foundation Board President ST. Thomas Church Family Giving Centre receiving their grant from presenter Jordan Lester Victor Stevenson Aviation Heritage Northwestern Ontario Aviation Heritage Centre Dr. S. Penny Petrone Shelter House Thunder Bay - Shelter House Community Garden Thunder Bay & District Humane Society - Education and Employment Preparation Program Dr.R.K. Dewar Medical Research Thunder Bay Regional Health Sciences Foundation - Hospital Elder Life Program (HELP) The Multiple Sclerosis Society - Lake Superior District - Event Promotional Equipment Keri Chase Memorial Animal Welfare Save Our Songbirds - McKellar Island Bird Observatory Community for Canada s 150th Thunder Bay Art Gallery Northern Artists/150 Years VIBE Reasons We Love Canada - Thunder Bay FIXT POINT Arts and Media - The Living Archive - Thunder Bay District Thunder Bay Community Foundation General Harbour Youth Services of Thunder Bay - Harbour Youth Kindness Club Precious Bundles Children's Clothing Assistance Program - Year Round Socks, Underwear and Bottles for Children Lakehead Social Planning Council - On the Road with 211 Our Kids Count - Take Back the Kitchen Thunder Bay and Area Victim Services - Support Groups for Victims Ontario Nature (Federation of Ontario Naturalists) - Citizen Science for the Cold Blooded St. Thomas Anglican Church Family Giving Centre - ST. Thomas Church Family Giving Centre The Coalition for Waverly Park - The Waverley Park Pavilion Our Kids Count receiving their grant from presenter Paul Jasiura 1996 $28,000 in grants $22,000 in scholarships Ruth Black leaves $497,000 to TBCF in her estate 1997 $36,000 in grants $29,000 in scholarships Dr. J.D. McIntosh leaves $110,000 to TBCF 1998 $77,300 in grants $54,500 in scholarships Ruth Black s total endowment reaches $866, $40,000 in grants $57,200 in scholarships 2000 $63,000 in grants $50,750 in scholarships An anonymous donation of $157,000 is received

8 Donors Maria, Jack and Phyllis Hudolin, JP Hudolin Family Executive Director Bonnie Moore with donor Pritam Lamba of the Veena Lamba Scholarship for the Arts Donors Sue Simonsen (Susan Cochran Simonsen Aboriginal Bursary) and Eugene Kotyk Lesley Bell and Rod Morrison Family Lesly Bell and Rod Morrison Grace & Colin Bruce Family Grace & Colin Bruce Dr. James & Cappy Colquhoun Family Dr. James & Cappy Colquhoun Jackie & Ernie Dojack Family Jackie & Ernie Dojack Christopher Jean Memorial Barbara and Douglas Cameron Marcel Jean Erin Madigan in honour of Tyler Madigan Reily Madigan in honour of Tyler Madigan Shalyn and Tyler Madigan Susan Jones Friesen and Cliff Friesen Family Susan Jones Friesen Thunder Bay Community Foundation General Paul Jasiura Bonnie Moore Seppo Paivalainen Scott Warwick Anonymous (1) Trevor Jonasson Memorial Kelly Slack JP Hudolin Family Maria & Jack Hudolin JSTS Foundation Jette Ducharme Justice Ronald B Lester Memorial Youth Bursary Jordan Lester Marathon High School Youth Bursary Mary & Dr. George Morrison Family Mary & Dr. George Morrison Habitat for Humanity Anonymous (1) Vancouver Foundation - Keith Lord Sport Foundation Susan Simonsen Cochran Aboriginal Bursary David Blakie on behalf of the Johnson Scholarship Foundation Mark Edwards Kenneth Moffatt Bonnie Moore Susan Simonsen Janet Veale Shirley H. & Meredith O. Nelson Meredith O. Nelson Superior North EMS Leslie Vance Bursary Troy Barnard Don Stokes Brent Cline Justin Storm Jason Desando Tara Van Dyk Bryan Dobrowolsky Honor Wallace Devin Doran Nick Enders Peter Finnie Heather Gilbert Donald Gosselin Kelly Heikkila Donald Lemieux Helen Letourneau Marika Listenmaa James Long Rob Plummer Rhiannon Raynak Brian Schenk Honours and Memoriams Bonnie Moore in honour of Rebecca Johnson Bonnie Moore in honour of the Thunder Bay Youth Symphany Orchestra 2001 $60,000 in grants $60,000 in scholarships The John A. McLean scholarship is established with $60, $70,300 in grants Are $60,000 in scholarships Mr. Daniel Clara donates $45, $48,757 in grants are $97,000 in scholarships Mr. Ross Wilson establishes the Ross Wilson Science Scholarship with a donation of $250, $69,180 in grants $55,000 in scholarships 2005 $72,550 in grants $49,000 in scholarships

9 Named s Founding Donation by Prue Morton Joshua Dyke Family Scholarship Edyth Mary Dyke Helen L. Dewar Dr. Robert K. Dewar Research Arthur Widnall William MacIssac Helen L. Dewar Scholarship Joseph Vezeau Ruth Black Dr. J.D McIntosh Ontario Endowment for Children & Youth in Recreation John McLean Scholarship Walter Ross Rogers Dr. S. Penny Petrone Ross A. Wilson Education 2006 Shirley H. & Meredith O. Nelson Dr. George & Mary Morrison Family Roy Seymour & Geraldine Ruth Rogers Scholarship Thunder Bay Community Foundation President s 2008 *Keri Chase Foundation Anne Boswell Cochran Hannah & Victor Stevenson 2009 The Estate of Eileen Lahti The Margaret & Arnold Westlake Endowment for the Arts 2010 *Thunder Bay Art Gallery Victor Stevenson Aviation Heritage *Justice Ronald B. Lester Memorial Youth Foundation 2011 Shirley H. & and Meredith O. Nelson The Christopher Jean Memorial Ada Carrel *Hospice Northwest 2012 Trevor Jonasson Let Others Fly Memorial Bursary Donny Ritza Estate of Gertrude Lahti *Lutheran Community Care Centre 2013 Justice Ronald B. Lester Memorial Bursary Keri Chase Memorial Animal Welfare *Dilico Children s Foundation June Morgan MacDonald Bursary for Arts & Design Estate of Lucy Ritza Superior North EMS Leslie Vance Bursary Diane & Ron Watson Donor Directed TBCF Trustee Alumni 2014 JP Hudolin Family Kelly & George Badanai Family Veena Lamba Scholarship for the Arts Shirley & James Symington Family Carolyn & Jack Verhoeven Dr. James & Cappy Colquhoun Family Lesley Bell & Rod Morrison Family Jackie & Ernie Dojack Family JSTS *Kitty Kare *Habitat for Humanity *Shelter House *Thunder Bay & District Humane Society 2015 Grace & Colin Bruce Family Susan Cochran Simonsen Aboriginal Bursary Rebecca Johnson Thunder Bay Police Cruisers Defibrillator 2016 Susan Jones Friesen and Cliff Friesen Family Northwestern Ontario Aviation Heritage Centre Non-Endowed Agency * * Charity Endowment s Donors Susan Jones and Cliff Friesen with Executive Director Bonnie Moore 2006 $103,201 in grants are $50,000 in scholarships Mr. R.S.Rogers establishes the Geraldine Ruth Rogers Scholarships with an initial donation of $450, $71,000 in grants $43,000 in scholarships are $71,499 in grants are $76,453 in grants. Margaret & Arnold $71,000 in $48,300 in scholarships are Westlake Endowment for the scholarships Arts is established with an initial donation of $100,000. Amanda Lahti is established with a bequest of $60, $87,500 in grants $35,500 in scholarships Victor Stevenson Aviation Heritage is established with a donation of $200,000

10 Ken Chase, Diane Chase, Shirley Symington and Jim Symington 2016 brought on many changes for the Thunder Bay Community Foundation. As our portfolio was reaching the $10 million mark, the board took this as an opportunity to examine the policies related to our investments and financial management. With the help of two very dedicated donors (one of which is a former Secretary Treasurer for the board), the Foundation updated policies and added several new policies. PORTFOLIO REVIEW The Foundation s Investment Policy was the first tackled by the Board. During this process, the Board examined the Foundation s investment management practices. After interviews with many different firms, other Community Foundations and other Foundations, the Board decided that the portfolio needed to move to an investment management firm to facilitate future growth. Based on the proposals submitted and interviews with firms and stakeholders, the Foundation chose Mawer Investment Management as their firm and Andrew Johnson a their portfolio manager. The Foundation opened the year with $8.8 million, closed the year with $9.2 million and currently sits at over $10.5 million in its portfolio. Finances BUILT FOR DONORS BY DONORS The next task the Board undertook was to examine the financial management practices of the Foundation. This included examining how the funds within the portfolio were managed, what and how information was presented to donors and what policies needed to be updated. With the help of Jim Symington (donor) and Ken Chase (donor and former Secretary Treasurer), the previous financial management policies were updated and new policies that outlined the treatement income and expenses (and more) were developed. The Board and Staff of the Foundation were absolutely grateful for all the hard work Jim and Ken put into helping develop the policies, testing the calculation methods, and analyzing the results. These individuals spent countless hours attending meeting and working directly with Reily Madigan (Secretary Treasurer) and MJ Green (Operations Coordinator). We want to extend a special thank you to Jim and Ken, who are great examples of how our donors really help the Foundation move forward and grow! MAWER INVESTMENT MANAGEMENT Founded in 1974, Mawer Investment Management Ltd. (pronounced moher) is a privately owned, independent investment firm, managing over $40 billion in assets for a broad range of individual and institutional investors across all major investment strategies. The firm employs over 120 people across locations in Calgary, Toronto and Singapore. Andrew Johnson, CFA ANDREW JOHNSON, CFA Andrew Johnson is an Institutional Portfolio Manager at Mawer Investment Management Ltd. and has been with the firm for 10 years. He is responsible for the management and servicing of institutional clients and their portfolios, working with many of Mawer s non-profit and foundation clients. In addition, he is actively involved with the Community Foundations of Canada through Mawer s role as Professional Development Partner and Lead Conference Sponsor. Before joining Mawer, he held positions in both the accounting and legal departments of a diversified private holding company based in Nova Scotia. Mr. Johnson earned a Bachelor of Arts from Mount Allison University and is a CFA charterholder. He is a member of the CFA Institute, the CFA Society Calgary and Toastmasters International. Mr. Johnson also serves as a volunteer with The Children s Wish Foundation of Canada. Originally from Nova Scotia, Andrew lives in Calgary with his wife Stephanie and their 1 year old daughter, Ellie. Outside of Mawer he spends his time attempting to relive his glory days on the basketball court, running, and enjoying the beautiful Canadian Rockies $145,041 in grants are $35,500 in scholarships are. Christopher Jean Memorial is established with an initial donation of $25,000 from Marcel Jean, Christopher s father merges with the TBCF. Keri Chase Foundation establishes the Keri Chase Memorial Welfare 2014 $1.4 million raised Over $400,000 in grants, scholarships & bursaries Five new Family s created Four new Agency Endowed s are established 2012 $135,000 in grants are. $49,000 in 2013 $333,000 in grants, scholarships & Bursaries. Dilico scholarships Children s Foundations AEF Trevor Jonasson Memorial established. Justice Ronald B. Lester Memorial Youth Foundation Bursary $25,000 Donny Ritza $55,000 Estate of Gertrude Lahti $90, All time high of $505,000 given to charities and youth in our community

11 Finances Assets Current Cash and Interest Bearing Accounts $55,576 $399,553 Accounts Receivable - - HST Receivable 7,532 4,452 Prepaid Expenses 2,037 2,038 Marketable Securities 9,240,801 8,598,138 $9,305,946 $9,004,181 Liabilities Current Accounts Payable and Accruals $8,780 $8,780 Government Remittances Payable 6,335 6,582 Deferred Revenue PORTFOLIO ASSET MIX AT DECEMBER 31, 2016 Total Current Liabilites 15,103 15,937 Balances Externally Restricted 6,340,556 6,043,018 Internally Restricted 221, ,752 Unrestricted 2,728,330 2,727, ,843 8,988,244 $9,305,946 $9,004,181 Revenue Realized Gains $628,678 $5,894 Dividend Income 486, ,923 Interest Income 40, ,548 Unrealized Gains (losses) (543,905) (715,627) Donations and Other Revenue 45, ,090 Total Revenue $656,457 $(51,172) Expenses Operating $181,851 $181,733 Grants, Scholarships and Bursaries 291, ,171 Excess 182,942 (736,076) Opening Balance 8,988,244 9,493,702, Capital Receipts 119, ,618 Balance $9,290,843 $8,988,244 Cash Equivalents 5.48% Canadian Fixed Income 33.67% Canadian Large Cap 14.02% Canadian Small Cap 3.65% US Equity 19.64% International Equity 19.49% Global Small Cap 4.04% This years return on investment is 7.5%. The financial statements and Audit for 2016 were prepared by MNP LLP. The Thunder Bay Community Foundation s fiscal year is January 1, 2016 through December 31, The Summary Financial Statements do not contain all of the disclosures required by Canadian accounting standards for not-for-profit organizations. We encourage you to read the complete Audited financial statements which are available from our office by calling or on our website at tbcf.org. The Thunder Bay Community Foundation is committed to responsible stewardship of all gifts entrusted to us. Thanks again to our donors who make our giving possible $209,464 in grants. $57,200 in Scholarships and Bursaries

12 Board and Staff Front (Left-to-Right): Reily Madigan (Secretary Treasurer), George Badanai (President), Bonnie Moore (Executive Director), Jackie Dojack (Vice-President). Back (Left-to-Right): Michael Larizza (Trustee), Liana Frenette (Trustee), Jordan Lester (Trustee), Lesley Bell (Trustee), Colin Bruce (Trustee), Paul Jasiura (Trustee) Not Pictured: MJ Green, Operations Coordinator 2016 Nominating Committee Keith Hobbs Mayor, City of Thunder Bay Charla Robinson President, Thunder Bay Chamber of Commerce Marie Klassen President, Lakehead Social Planning Council 2016 Volunteers Neave Badanai Leia Freeman Lisa French Shalyn Moore Karin Nietschei Cassandra Tolmie Thank you to all our wonderful volunteers! The Thunder Bay Community Foundation would like to acknowledge their professional advisors: Auditor: MNP LLP Legal Counsel: Weiler, Maloney, Nelson Banker: Royal Bank of Canada Investment Advisor: Andrew Johnson, Mawer Investment Management Suite N. Syndicate Ave., Thunder Bay, ON P7C 3V