OWN THE PODIUM ANNUAL REPORT 2014-2015 To be a world leader in high performance sport at the Olympic and Paralympic Games VISION For Canada to be a world leader in high performance sport at the Olympic and Paralympic Games MISSION To lead the development of Canadian sports to achieve sustainable podium performances at the Olympic and Paralympic Games MANDATE To strengthen the high performance sport system by leading the delivery of programs and services to increase Olympic and Paralympic podium results through an evidenced based, expert driven, targeted and collaborative model VALUES Excellence Integrity and Trust Bold Leadership Innovative Podium Driven Ethical Nimble and Flexible Ground Breaking Without Compromise Performance Partner Challenging Creative Solutions Focused Open and Transparent Collaborative Visionary Relentless Respected Outcome Focused Calculated Risk Accountability

FUNDING PARTNERS

TABLE OF CONTENTS 3 Message from the Chair and Chief Executive Officer 5 Board of Directors 6 Operational Objectives 8 Podium Excellence - Summer 11 Podium Excellence - Winter 15 Sport Science, Medicine, Research and Innovation Excellence 16 System Excellence 17 Organizational Excellence 19 Funding Report 21 Audited Financial Statements 24 Notes to Audited Financial Statements 27 Supported National Organizations

2 Annual Report 2014-2015 MESSAGE FROM THE CHAIR AND CHIEF EXECUTIVE OFFICER It can be said that sport has changed our country, inspired to get involved in sport, strengthen communities across us all and lifted us up. We are a country strengthened Canada, elevate civic pride, and motivate young Canadians by men and women of sport. So much so that on this to strive for excellence in sport and in life. For Own the past October 16th, the Right Honorable David Johnston, Podium, Toronto 2015 will deliver new knowledge and Governor General of Canada, declared that 2015 would experiences that will help us more fully prepare Canada’s be the Year of Sport in Canada. Own the Podium is proud Olympic and Paralympic athletes to win in Rio 2016. of the role it plays, with its partners to help spread the joy and exhilaration of sport for all and the pursuit of athletic With an eye on future podium success, the Government success against the best in the world. We too aspire to be of Canada reinforced its determined leadership in helping great and hold ourselves accountable to deliver success advance a new culture of winning in Canada by boosting every day. We live for sport. its financial support during this Year of Sport. Budget 2015 delivered new funding for the development of Canada’s The past year began with a $3 million funding lift for the next generation of champions. Beginning in 2016-17, the Canadian Olympic and Paralympic Sport Institute Network Government of Canada will match up to $20 million of provided by the Canadian Olympic Committee through its private sector investment to support athletes who are five- Foundation, plus support from the Canadian Paralympic to-eight years away from potential Olympic or Paralympic Committee. This funding is focused on enhancing the success. Network’s mandate of delivering world-class daily training environments for athletes and coaches across Canada. With support and continued collaboration from our Building on support provided by the Government of partners at the Canadian Olympic Committee, Canadian Canada and various provincial governments, this kind of Paralympic Committee, and , Own the collaborative partnership will help keep our athletes on a Podium is ever more focused on creating winning level playing field with the world’s best. conditions. Own the Podium accepted the challenge put to us by The Like all Canadians, we know that when the Canadian flag Honorable Bal Gosal, Minister of State for Sport when he is raised anywhere in the world, or “O Canada” is sung to agreed to match $1 million in corporate funding raised in celebrate sporting success, we all win. We know that sport support of Innovations 4 Gold. Thanks to Canadian Tire, can be a powerful force for positive change, can contribute the Canadian Olympic Foundation, the Canadian Olympic to nation building and inspire us all to live better lives. In Committee, MITACS, the Institute national du sport a world filled with challenges and adversity, sport is still a du Quebec, and the Canadian Paralympic Committee, beacon for hope and humanity. Sport matters! Canada’s research and innovation program took a giant leap forward. In these coming months and the pending countdown to Rio, all eyes will once again be on our finest young With the support of Canadian Tire, Innovations 4 Gold athletes – wonderful ambassadors of the Canadian spirit pioneered a revolutionary new advantage for Canadian as they seemingly make time stand still. OTP will be there athletes with a project that demystifies and harnesses every step helping each one deliver the performance of a the power of sport analytics. Canadian Tire’s dedicated lifetime. team of analysts are today working side by side with top coaches, officials and athletes helping to inspire excellence, We live to contribute in this way to a better Canada. elevate attention to every detail and grow and sustain winning habits. Analytics will help coaches and athletes of tomorrow refine training programs and identify opportunities for improvement. OTP is convinced that data analytics will be a new difference-maker in our relentless quest to close the gap on the world’s top nations and deliver more medals for Canada.

As a result of the 2015 Pan Am and Parapan Am Games in Toronto, Canada’s sport system has been gifted with a number of spectacular new world-leading facilities. These venues will make a huge difference in our efforts John Furlong Anne Merklinger to achieve podium success at the 2016 Olympic and Chair Chief Executive Officer Paralympic Games and beyond. Hosting the Games in Toronto will also inspire a whole new generation of youth Annual Report 2014-2015 3 Elissa Alarie and Bianca Farella Members of Canada’s Women’s Rugby Sevens Team

Annual Report 2014 9 BOARD OF DIRECTORS

John Furlong Therese Brisson Duncan Fulton Patrick Jarvis

Dr. Guy Larose Chris Overholt Julie Payette Keith Pelley

Tricia Smith Dr. Mike Wilkinson Martin Boileau Board Observer Annual Report 2014-2015 5 OPERATIONAL OBJECTIVES

Increased Medal Performance at Olympic and Paralympic Games

Sport Science, Medicine, Research, Podium Excellence System Excellence and Innovation Excellence

High High Canadian Integrated Research Performance Performance Performance Sports Summer Sport Winter Sport Support and Intelligence Directors Athlete Institute Team Innovation and Analysis and Coaches Development Strategy

HP Athlete CSI Network Integrated HP Directors Performance World-leading podium performance pathways and Development Strategy and Support Team Think Tank and Coaching Analysis and plans for all targeted sports Framework and Investment Professional Advisory Groups Strategy Analytics Strategy Framework Development

Model to National Sport Optimal daily training and competition Podium NextGen Develop Science environment driven by world-leading coaches Pathways and Programs and Innovations 4 Performance NextGen HP Medicine and technical leaders supported by optimal SSSM Gold Medal Capacity Gold Intelligence Directors and Advisory practitioners for all targeted sports Profiles Building Coaches Committee

Athlete Next generation of podium potential athletes and Professional Front-line System Intake and Strategic At Games teams identified and developed for podium success Development Initiatives Harmonization Monitoring Partnerships Delivery (AIM)

Organizational Excellence

Business Business Foundation Operations

6 Annual Report 2014-2015 Mark de Jonge Gold medal in K-1 200m at 2014 World Championships, Moscow Bronze medal in K-1 200m at 2012 , London

Photo Credit: Balint Vekassy PODIUM EXCELLENCE - SUMMER Rio Mid-Quad Update Half-way through the 2016 Rio Quadrennial, Canadian athletes are poised to surpass the medal results achieved in the London Olympic and Paralympic Games. The following table provides an overview of Canada’s medal performance heading into the third year of the Olympic quadrennial.

Rio Mid Quad Nation Rio Mid Quad Rolling Medals London 2012 London 2012 Medal Medal Rank Won* Medal Rank Medals Won Difference AUS 7th 36 7th 35 -1 JPN 8th 32 6th 38 -6 NED 9th 24 11th 20 +4 BRA 10th 23 16th 17 +6 CAN 11th 23 14th 18 +5 ITA 12th 22 10th 28 -6 KOR 13th 20 9th 28 -8 UKR 14th 20 12th 20 0 ESP 15th 20 15th 17 +3 HUN 16th 19 13th 18 -1 * Rolling Medal count refers to the medals from the most recent World Championships as not all sports have a World Championships each year of the Olympic quadrennial

Some of the exceptional highlights from the 2014 World Championship season include: • Two Canadian World Champions are crowned in 2014 with Catherine Pendrel winning the women’s cross-country World Championships and Mark de Jonge in the men’s K-1 200m at the ICF World Championships • converted on two additional medals to lead all sports with three world championship medals • Canada’s combative sport community reached the podium three times in wrestling, judo and boxing • Rowing produced two medals and trampoline yielded one medal at their respective world championships • Multiple 2013 World Championship medal winning sports athletics (5), diving (3) and swimming (2) continue to trend well in 2014 with numerous podium results at the 2014 Commonwealth Games and multiple Top-3 world ranked performances in a year without a world championship • continued to shine with the Women’s Sevens finishing the 2013-14 season ranked 3rd in the World Rugby rankings • Canada’s Team Sport Strategy continues to demonstrate excellent positive return on investment with an impressive 5th place finish by women’s basketball at the 2014 FIBA World Championships, the men’s sevens 6th place finish in the World Rugby rankings, the men’s volleyball 7th place result at the men’s world championships and the 8th place world ranking by Canada’s women’s water polo squad

8 Annual Report 2014-2015 PODIUM EXCELLENCE - SUMMER Equally stellar performances were realized from Canada’s Paralympic athletes in the 2014 Para-championship season. Some highlights were: • Canada’s women’s wheelchair basketball team was crowned world champions • Para-cyclist Shelley Gautier collected 2 gold at the 2014 IPC Para Road Worlds Championships • Canadian para-cyclists achieved three additional medals at the 2014 IPC Para Road and Track World Championships • Para-canoe and para-triathlon, para-equine and wheelchair rugby each reached the podium in their respective Para-world championships • Canada is the 3rd ranked nation at the 2014 IFDS World Championships including a silver in the Sonar • Para-Swimming and para-athletics collectively have over 30 athletes ranked in the top-5 in a year without a para-world championships

Over the next fourteen months, OTP will work closely with Canada’s summer sport organizations to ensure that ‘no stone is left unturned’ in converting our podium potential events to medals at the 2016 Rio Games. Some of the critical elements being addressed include: • Maximizing Canada’s performances at the 2015 Pan American and Parapan American Games as a critical rehearsal for the 2016 Rio Games; • Maximizing early Olympic and Paralympic qualification opportunities; • Delivering on world leading daily training environments and competition strategies for athletes and coaches; • Accessing quality sport science and sport medical services relative to the performance gaps; and • Implementing key research and innovation projects.

Own the Podium has been quite deliberate in its efforts to lay down the foundation required to increase the pool of podium potential athletes. We will continue to evolve our NextGen strategy using the following four key tactics: 1. Collaborate with targeted sports in developing and validating their Podium Pathways and Gold Medal Profiles; 2. Invest in NSOs coaches and programs directed towards podium potential for Tokyo2020 and beyond; 3. Invest in existing and new NextGen Institute Programs; and 4. Support strategic investments aimed at building Canada’s pool of podium potential athletes.

Annual Report 2014-2015 9 Alex Harvey Silver medal in individual sprint classic at FIS Nordic World Ski Championships 2015, Sweden PODIUM EXCELLENCE - WINTER The first year following a Games can be a significant portal for change and certainly 2014-15 brought a measure of this element into the winter high performance sport landscape in Canada.

Although change can be healthy for a system, it can also pose potential threats. There were a number of significant organizational changes within the Canadian winter sport community in 2014-15. Five of Canada’s winter NSOs, which produced over half of our medals in Sochi, either changed or were embarking on a change in staff leadership. This, coupled with changes in senior volunteer leadership, left a large number of our medal producing NSOs potentially vulnerable. OTP, in collaboration with other partners, was able to assist in ensuring that most of the transitions had little to no effect on the high performance programs of the respective organizations. This certainly reinforced the assertion that, although change may be inevitable, our ability to monitor and manage that change in a productive manner is not only improving but will become an even more important factor in ensuring Canada’s long term success.

With a number of marquee athlete retirements over the last 12 months, there has been and will continue to be some effect on Canada’s medal production in the short term. Although our interim results, as measured by performances at World Championships, still demonstrated a retention of overall strength, it is clear that retraction is a theme with respect to both the pool of podium potential athletes and ultimately podium performances. On the positive side however, once the addition of the “new” disciplines (April of 2015) were retroactively factored in to the 2015 overall results, there was little net shift in Canada’s overall medal position. As the competitive landscape in our circle becomes more crowded, Canada is at a stage where we must start to engage on new fronts and employ a broader spectrum of strategies and tools in order to ensure our position as a leading winter nation does not erode further.

Canada 2001 2002 2003 2005 2006 2007 2009 2010 2011 2013 2014 2015 (Q3) (Q4) (Q1) (Q3) (Q4) (Q1) (Q3) (Q4) (Q1) (Q3) (Q4) (Q1) Total Medals 18 17 21 28 24 27 29 26 33 29 25 24 Total Rank 5 4 4 3 3 2 1 3 2 2 4 4

Canadian Medal Ranking 2001-2015 Total Rank

2001 2002 2003 2005 2006 2007 2009 2010 2011 2013 2014 2015 (Q3) (Q4) (Q1) (Q3) (Q4) (Q1) (Q3) (Q4) (Q1) (Q3) (Q4) (Q1) 0

1

2

3

4 Total Rank

5

6

7

Annual Report 2014-2015 11 PODIUM EXCELLENCE - WINTER Canadian Medals Won 2001-2015 Total Medals

35

30

25

20

15 Total Medals 10

5

0 2001 2002 2003 2005 2006 2007 2009 2010 2011 2013 2014 2015 (Q3) (Q4) (Q1) (Q3) (Q4) (Q1) (Q3) (Q4) (Q1) (Q3) (Q4) (Q1)

With the final sprint to a Games comes the need to laser focus on the optimization of medal opportunities and conversion at the coming set of Games. As a result of this narrowing of focus, it is inevitable that a number of longer term, potentially more sustainable system lifting projects may be paused in the short term. This was certainly the case with the Podium Pathway and Gold Medal Profile initiatives which largely had to be left until after Sochi for the winter sports to attend to. Over the last year however work has started in earnest in this very important area along with the cornerstone data analytics projects being spearheaded through a key partnership with Canadian Tire. Through the work already undertaken we have seen glimpses of the profound impact this initiative will have on everything from identifying and monitoring athletic talent to determining the true medal potential of athletes and sports. Ultimately this work will also allow sports to better craft curriculum for developing athletes, guide and track athletes through their athletic pathway, and make better decisions around the allocation of resources, both human and financial. With a majority of winter sports now either on the pathway or scheduled to start in the near future, this will be an important focus and become a key contributor to Canada’s future successes as a winter sport nation.

One of the other very important and complementary undertakings over the past year was the focus on “NextGen” programing for winter sport. Through key partnerships with system ready NSOs, the COPSI Network, provincial partners, and other funding partners such as CPC and COC, we were able to embark on nine NextGen Olympic and Paralympic programs. All have proven to be very productive and will become critical tools in ensuring that the pool of podium potential athletes grows in a systemic fashion moving forward.

In a very short time, the future of winter sport will again shift significantly with the naming of the host city for the 2022 Olympic Winter Games. As we have seen many times over, the hosting of a Games transforms the sporting trajectory of a nation. Given this along with the many other factors which make the world of high performance sport an ever increasingly competitive landscape, Canada must continue to commit to use every experience and tool at our disposal to ensure that we remain a leading winter nation.

12 Annual Report 2014-2015 Mikaël Kingsbury Silver medal in Freestyle Moguls at 2014 Olympic Winter Games and 2015 World Championships Brendan Green Canadian biathlete

Photo Credit: Dave Holland SPORT SCIENCE, MEDICINE, RESEARCH, AND INNOVATION EXCELLENCE Integrated Support Team (IST) Professional innovative thinking to solve sport performance questions Development about how we could Own the Podium. These future interns The Sport Innovation (SPIN) Summit is Canada’s cutting will be the conduit between the Canadian National Teams, edge applied high performance sport science, medicine CSC/CSIs, and Universities to bring together a winning and research conference, organized annually by Own equation for future Olympic and Paralympic Games. The the Podium. The 2014 SPIN held in Montreal was a results will not only impact podium performances but will tremendous success with over 250 sport science and also contribute to healthy and active lifestyles across the medicine experts who assist targeted programs with athlete country. We are currently supporting three PhDs and one preparation in the daily training environment. Many of the Post Doctoral Fellow with a new group of five to begin next interactive sessions were delivered at the newly completed year. Institut National du Sport du Québec providing the opportunity to showcase this world class high performance training facility. March, 2015 also brought together sport scientists from the COPSI Network for collaborative skill development. This three day workshop culminated in the drafting of a national position paper outlining Olympic and Paralympic athlete intake assessment and monitoring protocols. Working creatively with the Sport Information Resource Centre, Own the Podium led the development of three new issues of the ‘High Performance SIRCuit’ which captures the essence of merging the art of coaching with the science of sport.

Innovations for Gold Campaign Innovations 4 Gold (I4G) is Own the Podium’s applied sport research program to support cutting edge/competitive advantage initiatives in proactive sports medicine, human performance and sports engineering. I4G supports research projects, which are helping Canada win more medals at the Summer and Winter Olympic and Paralympic Games. The I4G initiative has come to fruition via significant contributions from Sport Canada, the COC, the COF, the CPC, and corporate Canada (Canadian Tire) to ensure that our country is poised for continued success in high performance sport. Next Generation of Applied Sport Researchers: OTP-MITACS Through unique research and training programs, Mitacs is developing the next generation of Canadian innovators with vital scientific and business skills. In partnership with companies, government and academia, Mitacs is supporting a new economy using Canada’s most valuable resource – its people. One of these partnerships is with Own the Podium. A contribution to Canada’s success in , London and Sochi was including talented graduate and post-graduate research interns to engage with

Annual Report 2014-2015 15 SYSTEM EXCELLENCE The goal of the System Excellence priority is to increase the COPSI Network is quickly becoming a key component of the number and quality of world class athletes, coaches our high performance delivery system offering state of the and technical leaders supported by fully functional CSC/ art support services to our national teams. CSIs. During the past year, a number of initiatives have been delivered which have contributed to this strategic priority. A key focus for 2014-15 was the completion of Memoranda of Understanding with Provincial Governments, NSOs, CSIs High Performance Directors and Coaches and PSOs to deliver Next Generation Institute Programs Flowing from the National Strategic Action Plan for the which focus on supporting Canada’s next generation of development of High Performance Directors and Coaches, Olympic and Paralympic medalists who are 5-8 years away a series of initiatives were delivered in support of this from the Podium. A total of 24 such agreements were strategy. OTP in conjunction with the CAC, various NSOs, concluded in 2014-15 involving 248 athletes and 35 coaches Sport Canada, P/T governments, CSC/CSIs, CCUPEKA, COC in four CSIs. and CPC established an action plan with four key goals and related tactics in order to: 1) recruit, retain and improve world’s best high performance directors; 2) recruit, retain and improve world’s best coaches; 3) build pool of expert coaches with potential to become world’s best and; 4) develop strategic funding support for high performance directors and coaches.

In September 2014, a very successful High Performance Directors’ retreat was held in Toronto. The event brought together 65 delegates from winter and summer sports, funding partners and OTP technical staff. The focus of the retreat was to provide a world class professional development learning opportunity for Canada’s high performance directors of Olympic and Paralympic NSOs, share expertise and experiences and enhance key competencies and training for our key technical leaders. The retreat identified several areas related to the relationship with NSOs and CSC/CSIs which led to a follow- up meeting convened by OTP where opportunities were identified to strengthen these critical relationships.

Canadian Tire Analytics Team Canadian Tire Corporation has continued its partnership with Own the Podium and is using its best-in-class data analytics division to provide valuable insights and information to help Canadian athletes win more medals on the world stage. The information will also be used to help coaches and athletes refine their training programs and identify opportunities on the path to the podium.

Canadian Olympic and Paralympic Sport Institute Network (COPSI Network) OTP continues to work with the CSC/CSIs to implement Canada’s Strategy and Investment Framework for the COPSI Network. With the development of new world class training and competition spaces in Toronto, Montreal and ,

16 Annual Report 2014-2015 ORGANIZATIONAL EXCELLENCE As recognized by OTP’s funding partners, (Sport Canada, COC, CPC), in order to achieve organizational goals, organizations need to focus on how the organization is run, including the various processes, systems, and controls that are used to strategically direct and lead them. OTP’s focus on Organizational Excellence permeates all aspects of the organization from the dedication and passion of our volunteer board, to the experience and expertise of our staff team. In order for us to achieve our vision for Canada to be a world leader in high performance sport at the Olympic and Paralympic Games, OTP must exemplify the same dedication, effort and discipline as Canada’s athletes.

Deloitte Best In Class In 2014-15, OTP continued to implement measures to improve its leadership and business operations flowing from the COC Best In Class Enhancement Initiative conducted by Deloitte LLP in late 2013-14. Areas of assessment included Governance and Risk, Strategy and Planning, Leadership and Culture, People, Revenue Generation & Engagement, and, Support Services. Of the 31 business process areas that were assessed, OTP scored Advanced and Best-in-Class in 26 areas, Defined in 2 areas and Developing in 3 areas. From the OTP assessment, Deloitte assisted us in developing the priority breakdown and roadmap to help OTP achieve our targets in the high priority areas. This process continues to help validate many of the outlined strategies in the current OTP Strategic Plan and helps focus our efforts on the business process areas that will yield the best “return on investment”. OTP is grateful to the COC for allowing the organization to be assessed under this program.

In addition to the above, in 2014-15, OTP: • Reorganized the senior staff leadership roles by merging the Director of System Excellence and the Director of Planning and Operations into a single position in order to streamline responsibilities as well as contain costs. • Updated key internal policies in order to remain current with accountability requirements as well as best practices in the non-profit sector. • Delivered prudent financial management and maintained open and transparent financial reporting. • Fully implemented a new performance management system with clear goals, professional development plans, regular feedback and year-end performance reviews.

Annual Report 2014-2015 17 Janet McLachlan Gold medal at 2014 Women’s World Wheelchair Basketball Championships, Toronto

Photo Credit: Wheelchair Basketball Canada / Phillip MacCallum FUNDING REPORT NSO and CSC/CSIs Funding year ended March 31, 2015 This report summarizes Own the Podium’s recommendations to funding parties who distribute funds directly to National Sport Organizations and the Canadian Sport Centres / Canadian Sport Insitutes.

Source of Funds Sport Canada $61,100,000 COC - NSO and CSC/CSIs $4,697,500 COC - Olympic Legacy Coaching Fund $400,000 CPC $500,000 Total $66,697,500

Distribution of Funds NSO - Winter $21,532,500 NSO - Summer $34,965,000 NSO - Team $5,600,000 NSO - Olympic Legacy Coaching Fund $400,000 Total NSO Funding $62,497,500

CSC/CSIs Funding $4,200,000

Total $66,697,500

Source of Fund

92% Sport Canada Sport Canada COC - NSO and CSC/CSIs COC - Olympic Legacy Coaching Fund CPC

Annual Report 2014-2015 19 INDEPENDENT AUDITOR’S REPORT To the Board of Directors of Own the Podium Deloitte LLP 1600 - 100 Queen Street Ottawa ON K1P 5T8 We have audited the accompanying financial statements of Own the Podium, which Canada comprise the balance sheet as at March 31, 2015, and the statements of revenue and expenses, changes in net assets and cash flows for the year then ended, and a summary of Tel: (613) 236-2442 significant accounting policies and other explanatory information. Fax: (613) 236-2195 www.deloitte.ca Management’s Responsibility for the Financial Statements Management 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.

Auditor’s Responsibility Our 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 auditor’s judgement, 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 audit opinion.

Opinion In our opinion, the financial statements present fairly, in all material respects, the financial position of Own the Podium as at March 31, 2015, and the results of its operations and its cash flows for the year then ended in accordance with Canadian accounting standards for not-for-profit organizations.

Chartered Professional Accountants, Chartered Accountants Licensed Public Accountants

25 July, 2015

20 Annual Report 2014-2015 AUDITED FINANCIAL STATEMENTS Balance Sheet as at March 31, 2015

CURRENT ASSETS 2015 2014 Cash $ 2,923,484 $5,584,383 Short-term investments (Note 4) 344,938 - Accounts receivable 27,149 118,198 Prepaid expenses 39,261 5,852 $3,334,832 $5,708,433

Investments (Note 4) $2,062,433 $- Capital Assets (Note 5) 48,063 72,056 $5,445,328 $5,780,489

CURRENT LIABILITIES 2015 2014 Accounts payable and accrued liabilities $993,972 $1,499,692 $993,972 $1,449,692

NET ASSETS Invested in capital assets $48,063 $72,056 Unrestricted fund 4,403,293 4,208,741 $4,451,356 $4,208,797

$5,445,328 $5,780,489 See accompanying notes to the financial statements

Annual Report 2014-2015 21 AUDITED FINANCIAL STATEMENTS Statement of Revenues and Expenses for the year ended March 31, 2015

REVENUES 2015 2014 Canadian Olympic Committee (Note 3) $3,058,295 $3,160,997 Government of Canada 3,000,000 2,732,500 Government of Ontario 555,000 555,000 Canadian Paralympic Committee 400,000 396,206 Investment Income 161,058 34,989 Sponsorships 55,500 57,033 Other (Note 9) 377,900 - $7,607,753 $6,936,725

EXPENSES 2015 2014 Projects Sports Science, Medicine, Innovation $2,470,774 $2,059,456 System Excellence 550,454 515,032 Podium Excellence 761,723 598,997 $3,782,951 $3,173,485

Organizational Excellence Salaries and benefits $2,541,167 $2,691,440 Staff travel 513,165 476,325 General administration 310,905 230,761 Business systems - Database, IT 138,220 157,290 Communications 65,778 57,895 Governance 48,628 36,318 Amortization 36,380 36,191 $3,654,243 $3,686,220

Total expenses $7,437,194 $6,859,705

Excess of revenues over expenses $107,559 $77,020 See accompanying notes to the financial statements

22 Annual Report 2014-2015 AUDITED FINANCIAL STATEMENTS Statement of Changes in Net Assets year ended March 31, 2015

INVESTED IN UNRESTRICTED 2015 2014 CAPITAL ASSETS Balance, beginning of the year $72,056 $4,208,741 $4,280,797 $4,203,777 Excess of revenue over expenses - 170,559 170,559 77,020 Amortization of capital assets (36,380) 36,380 - - Acquisitions of capital assets 12,387 (12,387) - -

Balance, end of the year $48,063 $4,403,293 $4,451,356 $4,280,797 See accompanying notes to the financial statements

Statement of Cash Flows year ended March 31, 2015

OPERATING ACTIVITIES 2015 2014 Excess of revenues over expenses $170,559 $77,020 Item not affecting cash Change in unrealized gains on investments (103,017) - Amortization of capital assets 36,380 36,191 103,922 113,211

Changes in non-cash operating working capital items: Accounts receivable $91,049 $3,594,947 Prepaid expenses (33,409) 22,834 Accounts payable and accrued liabilities (505,720) 374,118 Deferred contributions - (96,207) $(344,158) $4,008,903

INVESTING ACTIVITIES 2015 2014 Net purchase of investments $(2,304,354) $ - Acquisition of capital assets (12,387) (13,855) $(2,316,741) $(13,855)

NET CASH INFLOW (OUTFLOW) (2,660,899) 3,995,048

CASH, BEGINNING OF YEAR 5,584,383 1,589,335

CASH, END OF YEAR $2,923,484 $5,584,383 See accompanying notes to the financial statements

Annual Report 2014-2015 23 NOTES TO AUDITED FINANCIAL STATEMENTS 1. DESCRIPTION OF ACTIVITIES AND STATUS The Organization accounts for contributed materials and in-kind 8069557 Canada Association operating as Own the Podium services, when a fair value can be reasonably estimated and (the “Organization”) was incorporated under the Not-For-Profit when the materials and services are used in the normal course of Corporations Act (NFP Act) on March 13, 2012. The Organization operations and would otherwise have been purchased. is a registered not-for-profit organization and commenced operations on April 1, 2012. As a not-for-profit organization under Capital assets the Income Tax Act, the Organization is exempt from income tax. Capital assets acquired by the Organization are recorded at cost. Assets are amortized on a straight-line over their estimate useful The purpose of the Organization is to strengthen a high lives as follows: performance system by leading the delivery of programs and Furniture and equipment 5 years services to increase Olympic and Paralympic podium results Computer equipment and software 3 years through an evidenced based, expert driven, targeted and Leasehold improvements Term of the lease collaborative model. Acquisitions of capital assets for research and development are 2. SIGNIFICANT ACCOUNTING POLICIES charged to operations at the date of acquisition. During the year Basis of Presentation $48,810 (2014 - $97,619) was expensed. These financial statements are prepared in accordance with Part III of the Chartered Professional Accountants of Canada (“CPA”) Foreign exchange Handbook, Accounting standards for not-for-profit organizations. Monetary assets and liabilities are translated at the rate in effect at the balance sheet date. Revenue and expenses are recorded The Organization also applies the standards for private at the rate in effect at the date the transaction occurs. Gains enterprises in Part II of the CPA Handbook to the extent that Part and losses on foreign exchange transactions are recorded in the II standards address topics not addressed in Part III. Significant statement of revenue and expenses when they arise. accounting policies include the following: Use of estimates Financial instruments The preparation of financial statements requires management Financial instruments consist of cash, investments, accounts to make estimates and assumptions that affect the reported receivable, and accounts payable and accrued liabilities. amounts of assets and liabilities and disclosures of contingent All financial assets and financial liabilities are initially recorded assets and liabilities as at the date of the financial statements and at fair value. Subsequently, financial assets and liabilities are the reported amounts of revenues and expenses during the year. measured at amortized cost with the exception of cash and The main estimates used include the useful lives of capital assets investments which are measured at fair value. Changes in fair and the amount of accrued liabilities. Actual results could differ value are recognized in the statement of revenue and expenses. from these estimates. The carrying values of accounts receivable, and accounts payable 3. RELATED PARTY TRANSACTIONS and accrued liabilities approximate their fair value due to their The Organization is related to the Canadian Olympic Committee short-term nature. The fair value of investments is disclosed in (COC) and the Canadian Paralympic Committee (CPC) by virtue note 4. of Board representation. Prior to the Organization commencing operations on April 1, 2012, the COC administered the program Credit risk arises from the potential other parties will fail to known as Own the Podium (OTP) and collected revenues and paid honour their obligations. It is management’s opinion that the costs on behalf of the OTP program. On commencement of the Organization is not exposed to any significant credit risk arising Organization, the COC transferred to the Organization net assets from its financial instruments. of $3,844,685.

Related party transactions A Memorandum of Understanding (MOU) between the Related party transactions in the normal course of operations are Organization, COC and the Canadian Olympic Foundation recorded at the exchange amount. (COF) for funding exists for the period from April 1, 2013 to December 31, 2016. The total commitment is dedicated to the Revenue recognition Organization’s operating and program funding in addition to The Organization follows the deferral method of accounting funding directed to National Sport Organizations and Canadian for contributions. Restricted contributions are recognized as Sport Institutes. The total commitment is as follows: revenue in the year in which the related expenses are incurred. Unrestricted contributions are recognized when received and/ or receivable, if the amount to be received can be reasonably estimated and collection is reasonably assured.

24 Annual Report 2014-2015 NOTES TO AUDITED FINANCIAL STATEMENTS

Quadrennial financial commitment $ 32,000,000 Cost Fair Value Cost Fair Value Best efforts from previous quadrennial *5,000,000 2015 2014 Carry-forward balance from previous quadrennial 169,442 Short term $ 344,938 $ 344,903 $ - $ - Total commitment $ 37,169,442 *Includes up to $8,000,000 in funding for operating expenses, contingent upon Long term 2,062,433 1,959,451 - - matching Sport Canada’s operating support. $ 2,407,371 $ 2,304,354 $ - $ - A 2014/15 contribution agreement with COC, dated September 29, 2014 (2014 - October 3, 2013) provided for up to $4,190,281 Investment Risks (2014 - $4,244,825) in operating and program funding on Investment in financial instruments renders the Organization as needed basis up to June 30, 2015. As at March 31, 2015, susceptible to the potential risks arising from changes in interest $3,058,295 (2014 - $3,160,998) in COC funding was recognized. rates, in rates of exchange for foreign currency, and in equity mar- kets both domestic and foreign. They also include the risks arising A Memorandum of Understanding (MOU) between the Organi- from the failure of a party to a financial instrument to discharge zation and the Canadian Olympic Foundation (COF) for funding its obligation when due. exists for the period from December 18, 2014 to December 31, 2015. This MOU outlines a one-time grant in the amount of The Organization has adopted investment policies, standards and $250,000 to support initiatives within the Organization’s Inno- procedures to control the amount of risk to which it is exposed. vations 4 Gold program. The full amount was recognized in the The investment practices of the Organization are designed to current year. avoid undue risk of loss and impairment of assets and to provide a reasonable expectation of fair return given the nature of the The 2014/15 funding usage and outstanding commitment are as investments. The maximum investment risk to the Organization is follows: equal to the fair value of the investments.

Total quadrennial funding usage as of March 31, 2014 $ 11,496,163 Concentration risk Organization’s operating funding 1,354,243 Concentration risk exists when a significant proportion of the Organization’s program funding 1,704,051 portfolio is invested in securities with similar characteristics or Total funding recognized as revenue during the year 3,058,294 subject to similar economic, political or other conditions. Man- Total funding directed to NSOs and CSIs during the *4,697,500 agement believes that the investment portfolio is well diversified. year Total quadrennial funding usage as of March 31, 2015 19,251,957 Foreign currency risk Total outstanding commitment from COC/COF as of $ 17,917,485 Foreign currency exposure arises from the Organization’s holdings March 31, 2015 of non-Canadian denominated investments in the mutual funds. * This funding flows directly from COC/COF to the third parties, and as such it is not recorded as a revenue or expense of the Organization. Interest rate risk Interest rate risk is the exposure of the Organization’s earnings In addition to related party transactions disclosed elsewhere in that arises from fluctuations in interest rates. The Organization is these financial statements, as at March 31, 2015, the Organiza- exposed to interest rate risk on its investments. tion had a payable of $302,082 owing to COC (2014 - payable of The Bankers acceptance matures in 2015 and has an effective $234,862). interest rate of 0.84%.

4. INVESTMENTS The bonds mature at face value on a staggered basis over the The investments are summarized as follows: next six years. Effective interest rates to maturity for these securi- Cost Fair Value Cost ties range from 0.62% to 2.41%. Fair Value 2015 2014 Bankers acceptance $ 344,938 $ 344,903 $ - $ - Mutual funds 1,270,603 1,185,072 - - Canadian fixed income 791,830 774,379 - - Total investments $ 2,407,371 $ 2,304,354 $ - $ -

Annual Report 2014-2015 25 NOTES TO AUDITED FINANCIAL STATEMENTS 5. CAPITAL ASSETS 9. OTHER REVENUE 2015 During the year $127,900 (2014 - $NIL) of in-kind contributions Accumulated Net Book were recognized as other revenue for Sports Science, Medicine Cost Amortization Value and Innovation expenses. Also included in other revenue was Furniture and $ 1,718 $ 1,031 $ 687 $250,000 (2014 - $NIL) of funding from the Canadian Olympic equipment Foundation for the Innovations 4 Gold program. Computer equipment 24,499 7,143 17,356 and software 10. COMPARATIVE FIGURES Leasehold 47,578 17,558 30,020 Certain comparative figures have been reclassified to conform to improvements $ 73,795 $ 25,732 $ 48,063 the current year’s presentation. 2014 Accumulated Net Book Cost Amortization Value Furniture and $ 60,375 $ 50,795 $ 9,580 equipment Computer equipment 95,308 69,648 25,660 and software Leasehold 47,578 10,762 36,816 improvements $ 203,261 $ 131,205 $ 72,056

6. RETIREMENT BENIFITS The Organization provides registered retirement saving plans to employees based on a percentage of gross salary. The employer’s contribution for the year was $98,472 (2014 - $103,888).

7. COMMITMENTS The Organization rents its premises and office equipment under various operating leases. The future minimum annual lease payment and amount required under the operating leases is as follows: 2016 $ 113,120 2017 98,575 2018 97,497 2019 92,107 2020 and thereafter 38,378 $ 439,677 8. CAPITAL MANAGEMENT The Organization’s capital consists of net assets. The Organization’s objectives when managing capital are to fund working capital needs and to safeguard its ability to continue as a not-for-profit organization in an effort to carry out its mission. The Organization’s capital management framework is designed to ensure there is sufficient short- and long-term flexibility. A key objective is to maintain a financial structure that covers the equivalent of one year of operating expenses. There have been no changes to the management of capital over the previous year.

26 Annual Report 2014-2015 SUPPORTED NATIONAL ORGANIZATIONS Canada Basketball Canada Alpin

Biathlon Canada Bobsleigh Canada Boccia Canada Boxing Canada Skeleton

Curling Canada Canadian Canadian Luge Canada Freestyle Ski Association Snowboard Association

Canadian Soccer Canadian Canadian Canoe Kayak Association Weightlifting Wheelchair Sports Canada Federation Association

Cross Country Cycling Canada Diving Canada Canada

Field Hockey Gymnastics Canada Canada

Rowing Canada Rugby Canada Skate Canada Aviron

Speed Skating Swimming Canada Synchro Canada Taekwondo Canada Canada

Tennis Canada Triathlon Canada Volleyball Canada Water Polo Canada

Wheelchair Wrestling Canada Basketball Canada

Annual Report 2014-2015 27 Calgary 85 Canada Olympic Road SW Calgary, Alberta T3B 5R5 T: 403-202-6300 www.anouslepodium.org