Annual Report

PARKS FOUNDATION, CALGARY ANNUAL REPORT 2015 CONTENTS 1 About Us 2 Our Mission 3 Letter from the Chairman & CEO 5 Board of Governors 6 Staff 7 Committees 8 Rotary/Mattamy Greenway 12 Project Gift Administration Program 13 Conceptual Drawing Grant 14 Building Communities Program 15 Bench Dedication Program 16 Amateur Sport Grant Program 17 The John Currie Amateur Sport Legacy Fund 18 Art Smith Amateur Sport Legacy Fund 19 Jack Leslie Youth Environment Award 20 Donors 29 Letter from the Treasurer 30 2015 Financials ABOUT US

Parks Foundation Calgary (PFC) is a non-proﬁ t

organization dedicated to improving the lives

of all Calgarians. Since its establishment in

1985, as an agent for The City of Calgary, PFC

has been the guardian of our community’s

natural environment by making true the

dreams of individuals, organizations and

communities that wish to create and enhance

the City’s parks and green spaces. With an

emphasis on communities of lesser means, our

focus is on preserving Calgary’s heritage and

natural beauty, ensuring that new parks and

open spaces are developed, amateur sport is

encouraged and our ecologically signiﬁ cant

river valleys are preserved.

1 OUR MISSION

We make Calgary a great city for its residents and guests by enhancing healthy lifestyle enjoyment through providing easily accessible, unique, recreational, sport and green spaces in our community.

2 LETTER FROM THE CHAIRMAN & CEO

Dear Friends of Parks Foundation Calgary: sponsorship of Calgary and area Rotary Clubs and

Mattamy Homes is a key factor in the acceleration 2015 was another successful year for Parks of Parks Foundation Calgary’s largest project in its Foundation Calgary with revenue for operations three decade history. The ﬁ nal $2 million needed exceeding expenses, and milestones in each of to complete this iconic project is a high priority our core programs and in the Rotary/Mattamy and the subject of government funding proposals Greenway major capital project. currently in circulation.

Through our Building Communities Program There is one key reason for the success this template, another 11 playground projects were foundation continues to achieve: the partnerships completed, valued at more than $2 million. This that have been forged with every sector of our brings the total number of projects constructed community. Those who share our vision and join in under this grant program to 111 since it was our efforts are the backbone of our organization. initiated in 2009. Applications to our Amateur We are indebted to each and every one of Sport Grant Program increased by 21% over the our partners. previous year. Over the year, 68 memorial benches were sponsored – the largest annual number since We recognize in particular, the City of the Bench Dedication Program began in 1990. Calgary and Government of Alberta for their

on-going support. Once again, we achieved remarkable progress on the Rotary/Mattamy Greenway project. By year- We thank Jim Davidson, Fund-Raising Chairman end 2015, the 138 km Greenway park and pathway for his contributions to the Rotary/Mattamy network was 93% complete with only 10 km of Greenway, as well as the dozens of corporations pathway remaining to be constructed. The title and individuals who support this major capital

3 > project. Calgary-area residential developers are Committee, Amateur Sport Grant Committee and also key donors, providing in-kind building support Advisory Council. for a large percentage of the Rotary/Mattamy In this, our 31st year of operation, we are proud Greenway project. to continue to play a part in making Calgary one

Finally, we can accomplish nothing without of the best places in the world to live. our wonderful volunteers, some of whom Sincerely, have supported Parks Foundation Calgary for many years. Speciﬁ cally, we thank the J.R. Houghton, Board Chairman members of our Board of Governors, Finance & Myrna Dubé, CEO

4 BOARD OF GOVERNORS

Back Row (left to right): Don Baird, Ian Playfair, Gregory Forrest, Mary Federau, Jim Davidson, Kim Koss Front Row (left to right): Bob Nasser, Kristin Yarish, Anne Charlton, Myrna Dubé, John Houghton, Mark Terrill, Keith MacLeod, Dave Ardell, Frederick Nicholson Missing: Sherry Austin, Gerry McHugh

John Houghton, Chairman Sherry Austin Keith MacLeod Barrister & Solicitor President, Executive Chair of the Canada-Nova Scotia Consulting Services Offshore Petroleum Board Myrna Dubé CEO Don Baird Gerry McHugh Parks Foundation Calgary President, D.T. Baird Business Manager, Parking & Consulting Transportation Services Frederick Nicholson, Treasurer Mount Royal University Principal, Trivest Anne Charlton Director, Parks Bob Nasser Mark Terrill, Past Chairman City of Calgary Director, Wealth Management President & CMO Scotia Mcleod Jones Brown Inc. Mary Federau Executive Vice President Ian Playfair Jim Davidson Mattamy Homes Investment Advisor Executive Chairman BMO Nesbitt Burns Inc. FirstEnergy Capital Corp. Gregory Forrest Barrister & Solicitor Kristin Yarish Dave Ardell Associate Director Kim Koss Field LLP Alberta Environment VP, Business Development Calgary Chamber of Commerce

5 STAFF >

From left to right: Sheila Ferguson, Stephen Duncan, Alyshia Auston, Myrna Dubé, Sara Stepa, Karla Gervais, Dolores Sakauye

Myrna Dubé CEO

D. Stephen Duncan Controller

Dolores Sakauye Accounting Manager

Karla Gervais Greenway Project Manager

Alyshia Auston Communications & Amateur Sport Grant Manager

Sheila Ferguson Executive Assistant and Bench Program Manager

Sara Stepa Grant Program Coordinator

6 COMMITTEES

Executive Committee Advisory Council

John Houghton, Chairman Bill Selby Mark Terrill, Past Chairman Gord Brown Frederick Nicholson, Treasurer and Finance Walter Chayka Committee Chairman Terry Hawitt Jean Hendry Finance Committee Al Schreiner

Frederick Nicholson, Chairman Patrons Council Ian Playfair, Past Chairman M. Blake Walker Jim Davidson Mark W. Fletcher Scott Bratt John Zeller Paul Colborne David Inhaber Vincent Chahley Robert Harper John Dielwart Don Baird Dr. Chen Fong John Langille Saddledome Amateur Sport Committee Ron Poelzer Ruth Ramsden-Wood Dave Ardell, Chairman Scott Saxberg Ryan Boyd Greg Forrest Tanya Kahanoff Julie McSweeny Greg Dycke Perry Cavanagh Sue Scott

7 ROTARY/MATTAMY GREENWAY >

The Rotary/Mattamy Greenway project has hit some • The long-awaited pedestrian railway crossing in amazing milestones in its six-year history. The 138 km phase one which was completed in-kind by CN Rail walking, biking, running and boarding pathway system, and will now allow for the construction of the one with its mix of specialty urban parks, is now in its third km connecting pathway. and ﬁ nal phase. With just over 10 km remaining to • The connection at Airport Trail north east in the connect this gigantic pathway wheel around the entire community of Saddleridge that connects phase one City of Calgary, it is nearing completion. to Cityscape.

Parks Foundation Calgary’s largest capital project ever Parks Foundation Calgary hosted a successful and well- is now approximately 93% complete and 96% funded, attended event in September 2015 to celebrate the with a projected completion date of June 2017. third and fi nal phase of the Rotary/Mattamy Greenway. When fi nished, the Rotary/Mattamy Greenway will Held in the Mattamy community of Cityscape, the connect 55 communities and more than 400,000 event allowed us to thank many of the supporters, residents in Calgary. More importantly, it will offer developers and corporate sponsors in phase three. spectacular recreational pathways and unique parks Once again, we received positive media coverage with that will be open to every Calgarian, free-of-charge, multiple newspaper and magazine articles — including 365 days a year. a national article in the Globe and Mail — and coverage by numerous television outlets. At a total cost of more than $55 million, the Greenway project has realized amazing results through Parks Foundation Calgary now has its biggest project collaboration with our two title sponsors — Mattamy challenge ahead as it moves to complete the third and Homes and the Rotary Clubs of Calgary and area —as well fi nal phase of this world-class project. That challenge as many other valued partnerships with corporations, is to secure funding for the fi nal 10 km of the 138 km charitable organizations, individual donors, and all pathway loop around the entire city. levels of government. The 2016 construction season will see continued efforts The construction season in 2015 saw completion of by all members of the Rotary/Mattamy Greenway team several missing links that brought Parks Foundation to realize our construction completion goal in 2017. closer to its goal of completing the pathway loop in 2017. Links completed in 2015 include:

• The pathway connection along Sarcee Trail SW, featuring an unique poppy memorial sponsored by Progress Energy. • The pathway surrounding the Cityscape wetlands in the north east, completed in-kind by Mattamy Homes. • The pathway connection at Inland Fields Athletic Park.

8 QUICK FACTS ABOUT THE ROTARY/MATTAMY GREENWAY

Open 365 days/year

FREE of charge and accessible to everyone

138 km of pathways, outdoor parks and natural areas

Up to 25 specialized parks located along the Rotary/Mattamy Greenway

Connects 55 communities together and more than 400,000 Calgarians

9 ROTARY/MATTAMY GREENWAY PARTNERS >

Our title sponsors are the Rotary Clubs of Calgary and area; and Mattamy Homes, Canada’s largest homebuilder.

Other generous supporters include:

Jim Davidson

Star Valley Don & Hazel Dave & Penny Wilson Murray Allan Markin Oil & Gas Skinner Family Foundation Edwards

10 Rotary/Mattamy Greenway PARKS FOUNDATION CALGARY • THE ROTARY CLUBS OF CALGARY AND AREA • MATTAMY HOMES

Funded and Completed by Year End 2016

pathway by the City of Calgary

pathways not completed

pathways constructed by developers

existing pathways

For an interactive map, visit the City of Calgary Pathways & Bikeways app: Calgary.ca

For more information visit: ParksFdn.com

11 PROJECT GIFT ADMINISTRATION PROGRAM >

Parks Foundation Calgary’s Project Gift Administration Program supported a total of 15 community-driven projects in 2015 including the following projects:

• Andrew Sibbald School Playground Resurfacing • Belfast School Outdoor Beautiﬁ cation & Naturalization Project • Capitol Hill School Outdoor Project • Dovercroft Place Playground • Hawkwood Playgrounds (4) • Kingsland: Loomis Park • Lake Emerald Crescent Playground • Manchester Playground • Queen Elizabeth Elementary School Playground • Silverado Skating Rink • Springhill Ranch Housing Co-op Playground • Stanley Park Diamond Upgrade • Taradale Outdoor Fitness Park • Twin Views Garden • UES Kindergarten Play Area Revitalization

12 CONCEPTUAL DRAWING GRANT

The Conceptual Drawing Grant awards up to $5,000 as seed money for projects to hire a landscape architect to create drawings that refl ect a unique project vision. The program supports projects that will signifi cantly benefi t and enhance Calgary’s park spaces. In 2015, Parks Foundation Calgary awarded seven conceptual drawing grants to the following organizations/projects:

• Hawkwood Community Garden Committee • Belfast School Fundraising Society • Demonstration Imagination Playground • Capitol Hill Outdoor Project • Hawkwood Park Enhancement Project • Ecole St. Pius X School Natural Playground • William Reid School Park Project

13 BUILDING COMMUNITIES (BC) PROGRAM >

Throughout 2015 the Building Communities Program was Lawn. The installation of these parks marked success successful in helping 11 communities bring playground in bringing nature back to play, allowing children projects to completion around the city. These projects to exercise their imagination outdoors. We hope varied in size and included two accessible playgrounds, to see continued examples of natural playgrounds a ﬁ tness park and two unique naturalized playgrounds. and spaces. This year’s projects are valued at approximately $2.3 million. Projects completed in 2015, with the help of the Building Communities Program, include: The program supported many communities and schools that may not have had the capacity to independently • Crescent Heights Playground Phase 2 take on a large capital project like a playground. Our • Edgemont Community Playground support to these projects extended beyond our grant • Elbow Park Playground funding and also included accounting services, ongoing support of the playground planning process, and • Forest Lawn Natural Playground - Phase 1 leveraging additional funding from other grant sources. • Haysboro Natural Playground - Phase 1 We continued to work alongside our communities to • Highwood School Playground engage volunteers that would help reduce installation • Killarney/Glengarry Accessible Playground costs to the playgrounds. This added support and commitment allows the BC program to be successful • Maple Ridge School Playground year after year. • Scenic Acres Community Playground • West Dalhousie School Accessible Playground Two unique naturalization parks spaces were supported • 12 Mile Coulee Fitness Park/Playground and initiated by the BC program in Haysboro and Forest

14 BENCH DEDICATION PROGRAM

2015 was a very successful year for the Bench Dedication Devonian Gardens was recently restored and, for program, with a record 68 memorial benches sponsored the ﬁ rst time, memorial benches became available within City of Calgary parks and pathways. for sponsorship in this highly desirable and unique indoor area. To reduce maintenance costs and increase bench life- cycle, older cedar benches continued to be replaced with red meranti wood throughout the city.

15 AMATEUR SPORT GRANT PROGRAM >

The partnership that began in 1987 between Parks Foundation Calgary, the Calgary Flames and the Saddledome Foundation has continued to thrive, awarding more than $12 million in grants to amateur sport organizations in Calgary. In 2015, the number of grant applicants increased, going from 23 applications received in 2014 to 28 applications this past year.

18 grants totaling just over $1 million were awarded in 2015:

• Calgary Renegades Water Polo

• Millican Ogden Community Association

• Deer Run Community Association

• Cal-Glen Soccer Club (for Soccer Without Boundaries)

• Alberta Tennis Association (for Alberta Tennis Acadia Tennis Centre)

• Acadia Community Association

• Cornerstone Youth Centre (Calgary) Society

• Foothills Academy Society

• Calgary Horseshoe Club

• Alberta Handball Association

• Alberta Sledge Hockey Association

• Bishop O’Byrne High School

• Calgary Biathlon Racers

• Rocky Ridge Royal Oak Community Association

• Urkrainian Youth Association of Canada

• Alberta Alpine Ski Association

• Haysboro Community Association

• Huntington Hills Community Association

16 THE JOHN CURRIE AMATEUR SPORT LEGACY FUND

In 1983, Calgary hosted its largest amateur sport Jennifer Brown: Track and Field, CALTAF competition, the Western Canada Summer games, for John Conway: Water Polo, Water Polo Canada which Talisman Centre was originally designed and Kyra Christmas: Water Polo, Calgary Renegades Water built. At the conclusion of the successful event, a Polo Club/Water Polo Canada Junior Legacy Fund of $250,000 was established to support Aretehya Haberman: Rhythmic Gymnastics, Chinook amateur athletes and amateur sport. Inspired by this Rhythmique Gymnastics Club commitment to amateur sport, in 2012, a second Legacy Ashley McCool: Diving, Dive Calgary Fund was established with the goal of raising $750,000, Caeli McKay: Diving, Dive Calgary thereby, increasing the value of the combined funds to $1 million. Nina Pavlovic: Rhythmic Gymnastics, Chinook Rhythmique Gymnastics Club The Legacy Fund was renamed The John Currie Amateur Russell Pennock: Triathlon, Talisman Centre Junior Sport Legacy Fund in honour of John Currie, community Triathlon Club champion, President of the 1983 Western Canada Halle Pratt: Synchronized Swimming, Calgary Summer Games and a key fi gure in the development and Aquabelles Synchronized Swimming Club funding of the Talisman Centre, the fl agship facility of Taryn Pratt: Swimming, Cascade Swim Club the Games. Joshua Riker-Fox: Modern Pentathlon, Ares Pentathlon & Fencing Club In 2015, The John Currie Amateur Sport Legacy Fund provided bursary awards to the following amateur Brooklynn Snodgrass: Swimming, Cascade Swim Club athletes with fi nancial need in Calgary, to provide Ingrid Wilm: Swimming, Cascade Swim Club training and competition support for their athletic goals: Jenna Westaway: Track and Field Calgary International Track Club / Brooks Running Club Talisman Energy Bursary Recipient: Yuri Kisil: Swimming, Cascade Swim Club

Lindsay Park Sports Society Bursary Recipient: Justin Boyd: Water Polo, Water Polo Canada

17 ART SMITH AMATEUR SPORT LEGACY FUND >

Since 2000, Parks Foundation Calgary and the Calgary Booster Club have partnered to award bursaries to amateur athletes through the Art Smith Amateur Sport Legacy Fund. Art Smith was a great Calgarian and supporter of amateur athletes in the city and this fund continues his legacy.

In 2015, the Art Smith Amateur Sport Legacy Fund awarded bursaries to 13 athletes to support their athletic pursuits:

Aleksa Stanic - Water Polo

Melissa Lotholz - Bobsleigh

Alexandra Lanculescu - Long Track Speedskating

Alysia Rissling - Bobsleigh

Brenley Martin - Acrobatic Gymnastics

Brooke Apshkrum - Luge

Daina Tuchscherer - BMX

Derek Plug - Bobsleigh

Halle Pratt - Synchronized Swimming

Kris Atkinson - Freestyle Skiing Halfpipe

Richard MacLennan - Long Track Speedskating

Chad Bobrosky - Swimming

Christine de Bruin - Bobsleigh

18 JACK LESLIE YOUTH ENVIRONMENT AWARD

Cristina Acevedo & Morgan Weatherbie for the Kids Nature Camp Project Creating an opportunity for elementary school children from low- income families to go to the mountains to enjoy, and learn about, nature and the outdoors. The goal is to connect disadvantaged youth to the stunning natural environment we are so lucky to have just outside of Calgary. Through this experience they hope to inspire youth to discover something new about nature and encourage them to live a more sustainable lifestyle.

Sir Wilfred Laurier School for the Community Garden Project Aiming to transform a piece of land from a space with rubbish and weeds, into a garden with beds of herbs and vegetables. The garden project is a simple idea which will impact youth at Sir Wilfred Laurier and the surrounding community. The youth will learn how to grow food, produce and successfully market value-added products, follow a small social enterprise from the ground up, and give back to their community. This youth-led, community-based model will provide hands-on learning that will be especially beneﬁ cial for easing the transition of new immigrant youth within the school/community.

19 DONORS >

Parks Foundation, Calgary (PFC) would Bowles, Marc Ewing, Dale sincerely like to thank all donors Boyce, Maureen Ferland, Andre Brooks, Jo and Roger Findlay, Liz who have supported the projects and Brown, Allan Finestone, Estate of Patricia programs that took place in 2015. Brown, Donna Fischer, Maureen Brown, Joyce Fraser, Chris While every attempt has been made to Buconjic, Marija and Steve Friesen, Jennifer ensure the accuracy of this information, Butters, Wayne Gair, Joy and Scott we sincerely apologize for any errors Byrne, Clare Gelinas, Michael or omissions. Byrne, Patrick Gessler, Ray and Ruth Byrne, William Gibbons, Shannon Cairns, Ken Goetting, Laurie ACE Child Development Playground Calder, Cherry and Jim Gohill, Jay Fund Chill, Grace Gratland, Ralph ACE Child Development Centre Chivers, Abbe Guppy, Emma Alberta Biathlon Club Christopher James Doig Professional Hahn, Leszek The Gernot Kostera Charitable Corp Hahn, Margaret Foundation Ciezki, Rick Halbert, Pamela and Darryl City of Calgary Harcott, Tom Art Smith Legacy Fund Claussen, Caroline Harding, Gene Calgary Booster Club Cochrane, Shawna Harland, Tom and Deborah Code, Geoffrey Harms, Laurie Battalion Park Project Coles, Jodi Hart, Michael Battalion Park Coles, Kelly Hatelt, Shirley or Marvin Coril Holdings LTD. Corbett, Jessica Hatto, Gareth and Gillian Hays, Daniel Craig, Karen Helal, Rym Target Canada Crescent Heights Community Henry, Tim United Way, Donor Choice Program Association Highland Park Community Association Cristea, Cristina Hoenle, Sandra Bench Dedication Program Cush, Michael Horrocks, Cissy Aarsby, Clint and Marsha Dallas Development Corp Howes, Steve Abdi, Philomena Debolt, Sandra Hrynkiw, Lorie Adaskin, Dorethea deBruyn, Joan Hua, Joylynn Armstrong, Anthony Degasparro, Susan Iafelice, Phil Bader, Marlene Degenhardt, Colleen Jack, Jamie Bannon, Dorothy Denholm, Brenda James, Patricia Barak, Joseph Dharamdial, Camal Jarmym, Tammy Barkley, Randy Diede, Dora Jeffers, Don Bergman, Jill Donaldson, Anne Jones, Tracey Bezanson, Allan and Sandy Doyle, Aisling Joo, Patricia Biasutti, Loretta Dronyk, Dwayne Kalef, Michael Bird, Loraine Duarte, Juvenal Kalef, Robert Black, Helen Dunham, Michael B. Kell, Gerald BMC and Associates Dunne, Fiona Kell, Greg Boiteau, Paul Duprey, Dale Kell, Harvey Boscom, Kathleen Earle, Jordan Kelly, Tiffany Boucher, Paul Eremenko, Rick Kenney, Paul Bowden, Beverley 20 Killarney/Glengarry Community Naud, Brianna Tulupava, Alena Association Navaroro, Tammy Tyminski, Sheila Kimber, Ray Near, Kevin Vaughan, Kathleen Kindopp, Trevor Nowinska, Barbara Viner, Sidney Kobayashi, Mitsuru O’Connor, Stuart and Martha Waechter, Jason Koch, Alex Oliver, Carole Walker, Penny Koch, Gayle Orr, Ann Helen Warshawski, Frank Konachowicz, Barbara O’Shea, Janice Watson, Liz Kovach, Anthony O’Toole, Natalie Weerstra, Marjorie Krause, Barry and Caroline Pahl, Maria Wershler, Debbie Krause, Gary and Sandy Parhar, K. West, Joyce Krocker, Shirley Pasky, Larry Wigelsworth, Robert Kuzmar, Zack Pastirik, Gregory Wigglesworth, Elizabeth Kvolikowska, Agnieszka Patterson, Jerome Winston, Brent Lajoie, Jessica Pattison, Randy Zakariasen, Gloria Lam, Calvin Ponton, Tommy Zimmer, Teresa Lambert, Nela Ramscar, Belinda Lamont, Murray Rasmussen, Gord Bike to Work Fund Lawson Projects Ray, Ashlin Bryce A. MCDougall Professional Corp. Leblanc, Jayne Reimer, Beverley Mattamy Homes Limited - Calgary Lee, Joe Reimer, Judy Stantec Consulting Ltd. Legge, Violet Reimer, Kelli Lethaby, John Reimer, Lawrence Bio Energy Locke, Hazel and Frank Riback, Donna Stella, Estate of Mario J Lougheed, Doug Richard J. Novick Medicine Lowe, Shirley Professional Corp Bowness Memorial Monument Lowe, Silvia Richards, Opel Burgher, Catharina J MacDonald, A Web Rideout, Scott Clark, Dianna MacKey, Clare Robinson, Michael Johanson, Morris and Mary MacLeod, Joan Roll, Stephanie Lefrancois, Diana Magyar, Dan Sananikone, Chan Martens, Bernd Matheson, Jane Sargent, Irene Merritt, Shirley McCann Family Foundation Sarkari, Shahram Sinclair, Edwin McDonald, Fern Scribbins, Wayne Wallis, Archibald McDougall, Nancy Seiler, Tamara McDowell, Kathleen Shlahetka, Frances McDowell, Michael Smith, Elizabeth Building Playgrounds and McFarlane-Stanford, Jeanette Smith, Karli Communities Grant Fund McGovern, Kerri Souter, Bill Churchill Park Family Care Society McKay, Grace Spence, Signe City of Calgary McLauchlan, George Stegmeier, Cindy McLauchlan, Margaret Steinberg, Elliott Calgary Foundation for Swimming Meggs, Kari Stelfox, Henry Excellence Merrit, Nancy Stephens, Andrew Birdman, Jan and Amy Milbers, Annette Strang Family & Strang, Lorraine Blondal, Michael Millard, Laura Su, Michael Boehm, Gail Millard, Matthew Swift, Phil and Cindy Booke, Jeff Millarville General Store Sylvester, Adeline Bradley, Noralee Mills, Don Tacail, Nathalie Cannon, Elizabeth Mirosh, Jason Taylor, Michael Carter, Brad Moen, Margaret Temple, Gary Castillo, Juan Mokly, Sebastian Tersigni, Domenic Costello, Fiona Morgan, Kaidy Back Door Youth Employment Society, de Vileger, David Muller, Allan The Docktor, Ben Murphy, Terry Lecky Foundation, The Flanagan, Colin Namini, Nadia Tian, Yihai Geremia, Danny Nathanail, Maria Tully, Bob and Darcy Gosal, Gurpreet and Sureenl

21 Grabowski, Keltie Duggan and Peter Copiak, Ken and Donna McLellan, Byron and Lori Hansen, Mads Corkey, Dana Melnicenco, Chira Harper, Elan Crawford, Alexis Meyer, Sheri and Corey Hindmarch-Watson, Chris Dalgetty, Tracey and Barrie Michaud, Esther Hutchings, Robert Davie, Dwayne Mills, Pamela Hyder, Cameron Davies, Clare Mitla, Tetyana and Vasyl Jessop, Bridgett Degroot, Bonnie Jean Mook, Nicole and Jon Kostka, David D’Hondt, Colleen and Trevor Mountain, Annette > Loyola, David Diamond, Murray Neil & Kimberley J. Mullin Innes, Carrie Markin, Allan P. Duncan, Penny and Brian Oh, Grant and Sherry Melton, Todd Elias, Terrance Onslow, Tammie and John Mertz, Kevin Elsherif, Mohamed Owen, John and Jennifer Mitchell, Colin Eremenko, Rick Pachet, Jennifer Morrow, Mike Fernandes, Dayami Parker, Duane and Carrie Morrow, Mike Fitzmartyn, June-Marie Innes Pasko, Ryan and Tenneal Myden, Curtis Fleming, Karyn Pedersen, Kurt Newcommon, Jeff Fonteyne, Marc Perschon, Jay and Barbara Patrick, Russ Freeman, Wendy and Colin Phaneuf, Greg and Roxane RBC Foundation Frischbutter, Bryan and Kristen Probe, Jacqueline and Jason Sanderson, Greg Fritz, Paul and Sharlene Rempel, Maureen Sanderson, Jacqui Giesbrecht, Denise and Dean Resta, Theresa and Stephen Schjott, Jonathan Gocal, Michael and Nancy Richardson, Alison and James SIA Wealth Management Goldthorpe, Leanne Ross, Alex Simonson, Carl Gorsline, Sheree Ruttan, Corey and Jayne Smith, J.R. Grolla, Brock and Jamie Ryane, Alixe and Jaret Leah Sribney, Karen Guban, Tibor Boyle, Collins S. Tyson, Carli Hall, Brian or Christine Saad, Ziad Versfeld, Niels Happy, Colleen Sabbagh, Maha Willisko, Randi Harder, Brian Sawatzky, Kevin and Cyndee Wilson, W. Brett Heighington, Dawn Sawatzky, Trevor Woodman, David Hernskog, Carin Schweitz, Roland Ho, Laureen M Sheperd, Emily Calgary Gymnastics Centre Building Hodgson, Terri Lynn and Douglas Barry Simo, Olga & Hartman, Michael Fund Hopper, Gina Sisson, Sharon Abboud, Georges and Arlene Hopper, Jeff Skaper, Joe and Heather Barrett, Jennifer and Ryan Hoyem, Kitty Sletmoen-Radke, Kevin and Julie Battista, Jennifer Ian K. Y. Lo Professional Corporation Soicher, Deena Bechard, Ryan Ibach, Sheldon and Patricia Soloski, Dale and Sherry Anne Beckett, Alan and Kara Johnson, Gregory Stanier, Sarita and Darryl Behl, Sasha Johnson, Pamela A. Stanton, Guy and Angela Bell, Arnold Edwin and Maureen M Johnston, Brent and Amy Stanway, Johanna Bentz, Tyson and Julie Kalynchuk, Bryce Stein, Dean Boucher, Marianne Keller, Kurt and Arlana Stepien, Kathy Braitenbach, Jennifer Kent, Colton Stowkowy, Steve and Bonnie Brassart, Gilles and Andrea Kern, Mitch and Melissa Sutton, Stacey Brouillet, Anick King, Danny and Gina Sweet, Blythe Button, Bonnie Kirkpatrick, Andrew Tansowney, Shanda Cairns, Marianne Kuznetsov, Alexei Taylor, Tana Carlson, Michelle Lavier-Jankovic, Jennifer Templeton, Lorne Arthur and Cindy L Cato, Laurie Lawrence, Natalie Thompson, Krista Chapman-Csatari, Carolyn Lawrence, Peter Thompson, Teresa and Perry Cheng, Wilbur and Cherene Lister, Stephen and Heather Timmons, Shannon Chiciloc, Shawna Kent Lonnen, Jermony Topham, Catherine and Darren Chin, Jennifer Malaschuk, Megan Tully, Darcy Cloghesy, Betty McCaig, Alan and Kathryn Ulmer, Martha Coe, Geoffrey Neil McDonald, Sandra and Ryan Vander Meulen, Michael & Gutsell, Coombs, Wendy McGurk, Heather Sheri

22 Vecchio-Romano, MT Jensen, Camille and Lorne Ecole Banff Trail Schoolyard Vergis, Kelly Jewish Community Foundation of Naturalization Vrablik, Leah Calgary Ecole Banff Trail School Yard Wennberg, Grant and Aynsley Josefchak, JoAnn Development Society Wildeman, Sarina Katz, Deborah Wishlow, Claudette Kennelly, Wendy Edgemont Plays Wong, Ray Konihowski, Diane and John ARC Resources Wttewaall, Tanya Kuehner, Melissa Coates, Jane Lipkind, Joel and Salley De Boni, Walt and Irene Calgary Outdoor Swimming Pools Luijkx, Hedy and Gerard Edgemont Community Association Association Lundgren, Nadine Rotary Club of Calgary - South Aqueduct Foundation Macgowan, Judith MacLachlan, Judy Elbow Park Capitol Hill School Outdoor Project Makinson, Michael Elbow Park Residents Association Capitol Hill Community Association Mathews, Bob and Colleen McArthur, Donald Elliston Park McGregor, Linda CKE Community Centre Miklos, Frank and Audrey Messer, Dawn Aizanman, Bill Messer, Dawn and Tony Arsenault, Brandis Murley, Ian Forest Heights Playground Ayeh, Abenaa Murray, Kerrie (Forego Ave) Baillie, Chris Murray, Kerrie Forest Heights Community Association Barnett, Joan Nexen Energy ULC Barrett, Lana Payne, John Forest Lawn Natural Playground Blackhall, Gael Peet, Abenaa Ayeh ANTYX Community Arts Society Broeke, Elizabeth Peet, David Calgary Foundation, The Broeke, Roger Perlettte, Margaret Tree Canada Bucknum, Elaine Prokop, Veronica & Andrekson, Peter Calgary Foundation, The Robitaille, Gerry Gerry Shaw Park Capper, Louise Royer, Cindy Calgary Foundation, The Charlton, Tom Ryckman, Douglas Stanford, Estate of Michael Clayholt, Louise Schultz, Bill and Ginny Coleman, Ruth R. Schultz, William Cosman, Frank Hawkwood Playgrounds (4) Skov, Carolyn Crichton, Andrew City of Calgary Steel, James Cuthbertson, John Hawkwood Community Association Toppings, Barry and Lois Daigle, Robin Wallace, Tamara Davies, Lynne Haysboro Community Park Wares, Sheila Dietrich, Janet 1549548 AB Inc Watson, Sheila Dunn, Carmen and Mike Anderson, Susan Williams, Alun and Jo Elford, Susan and Rod Arkinson, Cheryl Williams, Jo Elser, Thomas Arndt, Karen Yeo, Ryan and Deanna English, Barb Aubi, Raymond Falconer, Liane and Greg Beatty, Dan Gamage, James Connaught Park Development Bell, Stefan Gift Funds Canada Thomson, John Bergamin, Sundie Gliener, Lisa Boardman, Joan Gonis, Lori and Gregory Crescent Park Playground Boras, Alan Halpern, Jackie Revitalization Bosshard, Daniel Halt, Ed Crescent Heights Community Branagan, Kourtney Halt, Ed and Arlene Association Brookman, George Hawrylyshen, Eruie Ho Lem, Stephanie Brooks, Stephanie & Dubnyk, Devon Hill, B and K Burrell, Cinnamon Hill, Barrie Discovery Ridge Leisure Facilities - Calgary Foundation, The Hind, John Phase II Chaput, Helen Holmes, Brett Marshall, Joanne Cooley, Ted Hons, Ronald and Shirley Dann, Marilyn

23 Dares, David Nichols, Marion Highwood School Parent Council Deans, Ruth Oakes, Nicole Huang, Shizhong Delaney, Heather Palmer, Wayne Hy, Va Nhoc Demers, Lisa Penman, Joan Larger Enterprises Denney, Lauren Pincott, Brian Lee, Franco Dickinson, Robert Planidin, Jason Lee, Mai Dickson, Kerry Pruden, Al and Joanne Li, Ms Yu Ling Dobson, Neil Quiring, Marsha Liu, Yi-Pin > Dodd, Kathy Ramsay, Brooke Lok, Elena Dorish, Chandelle Reiffenstein, Katherine Ma, Tai Drabiuk, Nick Reimer, Sara Ngo, Faye Emmelkamp-NItsch, Colleen Renneberg, Keiko Shen, Hong Enderton, Lianne Ross, Dawn Tang, Hien Feeney, James Ross, Ryan Valentine, Paul Gaetz, Bernice Rud, Susan Zheng, Shaozhen Gardiner, Debre Sahlen, Sonja Gorrell, Glenn Sattler, Kevin Jason Lapierre Memorial (Rotary/ Grose, Anna Scott, Tina Mattamy Greenway) Haggis, Sally Selman, Helen Calgary Crankmasters Cycling Club Hails, Cliff and Margaret Semos, Denise Harrington, Devin Shaw, Robert and Sheri-Lyn John Currie Endowment Fund Harris, Jacob Showcase RE Ltd AD - John Currie Amateur Sport Harrison, George Sikora, Henry Legacy Fund Hays, Dan and Kathy Sinnott, Elena and James Bratton, Robert Haysboro Community Association Smith, Ab and Terry Dixon, James Haysboro Seniors Resource Group South Calgary Ladies Bridge Club Kuchinka, Janet Herdman, Sava Southland Youth Justice Committee Powerofﬁ ce Software Systems Hill, Sharon Southwood, Terry and Catherine Weber, Stanley Hollands, Emily Spencer, Clay Williams Engineering Canada Holub, Milos St. Jules, Sandra Horner, Brian Stack, Robert Killarney Playground Howden, Davide Stainsby, Saadi Redevelopment Hutchings, John Stasiulis, Albert 1588510 AB Ltd Hykaway, Cynthia Stephan, Charlie Anand, Robert Jaramillo, Nydian Strategic Realty Management Co Broda, Renee Kalef, Diana Thill, Irene Chalmers, Cindy Kendall, Megan Thompson, Paul and Elizabeth City of Calgary Kenno-Hogg, Kara Tulloch, Kathy Cundall, Robbie and Michael Kijak, Maciej Turigan, Morgan Dewes, Jill Kingston, Phyllis Turk, Jane Dizep, Colleen and Michael Kirkham Automotive LTD Wallbank, Natalie Eglund, Thomas Kummer, Paul Ward, Diane and Chris G&D Holdings Inc. Laing, Olivia Welin, Robert Glenn-Rigny, Susanne Lamont, Norma Whittal, Cheryl Herman, Jonathan Lamoureux, Barbara Willis, Doreen Horsman, Bryce and Anne Leckie, Rachael Wolf, Linda and Gary Juice Creative Inc Matheson, Margaret Wolff, Irene Killarney/Glengarry Community McAuley, Donald Wright, Joyce Association McClelland, Nancy Young, Barry and Noreen Lonsberry, Amy and Darrell McDonald, Donna Madison Builders McDonald, Karen Highwood School Playground Maitland Hare, Marissa Mercer, Paul and Barbara 1630790 AB Inc May, Francine Mitchell, Miriam Chen, Ming McKeage, Chelsea Monica, Majcher Cheng, Dennis Park, Lisa Morrison, Maxine Dianna Leong Prof Corp Presidents Choice Childrens Charity Neary, Carolyn Gao, Tong Pwclark Financial Consulting Inc. Nelson, Kristopher Gremo, Nina

24 Simms, Sarah Rose, Michael and Susan Riddell Peres-da-Silva, Vanessa Stahl, Shannon Johnson and Neil Rotary Club of Calgary Reimer, Robert Expatriate Group, The Rotary Club of Calgary - Centennial Richardson, Marla Tsui Chan, Ellen Rotary Club of Calgary - Chinook Silver Springs School Parent Walter, Michaela Rotary Club of Calgary - Fish Creek Association Rotary Club of Calgary - Olympic Simpson, David Lacrosse Facility-Calgary Winter Rotary Club of Calgary - Sarcee Stephen, Bruce League Lacrosse Association Rotary Club of Calgary - South Vermillion Energy Inc Ockey, Danette and Damon Rotary Club of Cochrane Wagner, Donna RBC Foundation TELUS Community Affairs Terrill, Mark St. Boniface Elementary School Maple Ridge School Playground Peter Gilgan Foundation, The Playground Mapleridge School Parent-Teacher TransCanada Pipelines Ltd. 1476170 AB Ltd Fox Theatre Association Widas, David 1646479 AB Ltd Anderson, Glenn and Robyn Masters Academy Playground Saddle Ridge School Playground Apilado, Myrna and Reynaldo Masters Academy and College Badhan, Narinder Backer, Ray Brown, Mercedes Bader, Jennifer D3 Vision Inc Becker, Travis and Zoe Operating Fund Gagneja, Ravi Bell, Dan and Luish Calgary Inter-Faith Food Bank Society Kahm, Ashan Ali Bennett, Curtis Canadian Online Giving Foundation Kalra, Ramandeep Bligh, Nathan and Susan Larson, Lorne Kanagendram, Nirumalini Botros, Joanne Mawer Investment Management Ltd. Khamba, Satnam Brodyke, Gillian POWEROFFICE Software Systems Ltd Sahota, Jodh Brooks, Jennifer Benevity Community Impact Fund, The Sharma, Bhasker Bzeta, John Vyas, Piyushkumar Calsyd Projects Inc Parkdale Garden & Gathering Space Chalebois, G and M Olafson, Marjorie Saddledome Amateur Sport Fund Chan, Sheri Saddledome Foundation Charlebois, G and M Ramsay Community Rink Project Choules, Natalie Ramsay Community Association Schubert Hill Playground Coprian, Velma United Way, Donor Choice Program Kiwanis Club of Calgary Chinook Daley, Kevin Kiwanis Club of Calgary Foothills Daley, Kelvin & Tina O’Brien River Passage Park Casino Account Decottignies, Charles and Lisa Inglewood Community Association Kiwanis Club of Calgary Metro Dixson, Quentin and Denise Charitable Drake, Patti Rotary/Mattamy Greenway Kiwanis Club of Northmount Calgary Emond, Lee and Connie ARC Financial Corp Alberta Casino Account Fedechko, Cheryle and Shaun Bonavista Energy Corporation Rotary Club of Calgary Forbes Enterprises Calgary Herald Scenic Acres Community Association Forbes, Robin and Gabriela Crescent Point Resources Partnership Fournier, George Friesen, Heidi David and Penny Wilson Family Silver Springs Outdoor Pool Gardner, Benjamin and Christy Foundation Renovation Gareau, David and Donna Furlong, Bruce Anderson, Roxana Gareau, Lina Keyera Energy Management Ltd. Bentley, Kathryn Gareau, Tony and Robyn King, Frank Easthope, Linda Gundersen, Stacey Lee Overli, Harper Gray, Elaine Hoﬂ in, Jeffrey and Doris Markin, Allan P. Hambly, Esther Hoye, NIcole and Brandon Massie, Corrie Jamison, Allan and Ruth Jeffrey, Kim and Mike Nguyen, Khang Kerr-Wilson, Vicki Kelly, Mike Northpoint Development Kvill, Gerald Kelly, Ray Pelton, Harry Lenz, Kasia Kemp, Amy Pembina Pipeline Corporation Lounsbury, Kevin and Deborah Lehmann, Paul and Susan Progress Energy Canada LTD. McLelland, Kimberly and Ryan Loefﬂ er, Jill Ramsden Wood, Garry Mullie, Kevin Lofvendahl, Brian

25 McLeod, Leanne Twin Views Communal Garden Meehan, Jim Calgary Foundation, The Miko, Chris and Leona Miles, Mike UES Kindergarten Play Area Milne, Jarrod AMICI String Program Association Morris, Troy Olson, Brendan And Barbara West Dalhousie School Playground Owens, Scott Revitalization > Owens, Scott ATB Financial Patterson, Victoria Black, Deanna Phillips, Trish Calgary Foundation, The Piche, Bob Dalhousie Community Association PIche, Ross Derwee, Christina Puffer, Pauline and Dean Encana Corporation Reed, Curtis Farzaneh, Alireza Reed, Evan and Kari Harmony Through Harmony Roth, Katherine Lions Club Calgary Mountview Royer, Maureen McGrath, Margit Russell, Brandon and Lindsay Perry, Cheryl Schnurr, Michelle Brawn Family Foundation, The Sharp, Christopher and Lindsey TORC Oil and Gas Ltd. Sheddy, Osborne and Melody West Dalhousie Parents Association Slemp, Mike Wik, Don And Brenda Smith, Chris Smith, Larry Westmount Charter School Smith, Patricia Strawson, Sophie and Steve Smith, Teresa Westmount Charter School St. boniface School Educational Society Sterling, Erika Westside Regional Recreation Stevens, John and Marla Society/Turning the Tables for Youth Stevens, Marla and John McMillan-McGee Corp. Stewart, Heather Shane Homes Ltd. Strasser, Anna and Dan Strudwick, Michelle Winston Heights Mountview Strydhorst, Sonya Community Garden Turner, Sean and Karla Glass, Alison Warnke, Shannon Lager Enterprises Wasylenko, Sharon Mountview Community Association Williams, Heather NCE Enterprises Roscoe, Tyler Stanley Park Baseball Diamond Winston Heights Mountview Upgrade Community Association Calgary Rocky Mountain Baseball Association

Talisman Centre Talisman Centre

Twelve Mile Coulee Outdoor Fitness Area Saddledome Ameteur Sport Fund Twelve Mile Coulee School Parent Association

26 DONATIONS TO MAJOR PROJECTS AND PROGRAMS

Operating Project Operating Administration Fiscal Stability Reserve Fund 4% 3% 3%

Project Capital Fund 23%

Granting Program Fund 11%

Endowment Fund 45%

Maintenance Fund 11%

Composition of Funds at December 31, 2015

27 DONATIONS TO MAJOR PROJECTS AND PROGRAMS >

Donations to Calgary Parks, Pathways, Playgrounds and Amateur Sports

14,000 Thousands 12,000 $11,422 $11,529 $10,840 $8,966

10,000 $9,702 $8,838 $8,427 $8,059 8,000 $7,127 $6,418 $5,876 6,000 $5,231 $5,235

$4,071 4,000 $3,442

$2,568

2,000

0 2007 2013 2012 2014 2010 2001 2003 2005 2002 2004 2006 2008 2009 2011 2.015 2000

28 LETTER FROM THE TREASURER AND CHAIRMAN, FINANCE COMMITTEE

The 30th year of operation for Parks Foundation Calgary (PFC) was another ﬁ nancially successful year.

The Finance Committee is pleased to report that for the ﬁ scal year ended December 31, 2015, PFC had $28.1 million in consolidated endowment, project and program funds. The total fund increased by $3.3 million compared to ﬁ scal year 2014. This increase is the result of appreciation of the fair market value of our investments and contributions to the Rotary/Mattamy Greenway project and to other PFC-led programs.

Parks Foundation Calgary’s ﬁ nancial statements demonstrate the ﬁ nancial well-being of the organization. The 2015

fi nancial results refl ect the dedication and commitment of PFC’s Board of Governors, the Finance Committee and its management and staff to develop projects that benefi t all Calgarians while ensuring PFC’s fi scal stability.

Going forward into 2016, the overall state of the Alberta economy suggests not-for-proﬁ ts will see a period of constraint. However, with prudent and effective management of all of the resources available to us, we are conﬁ dent that PFC will continue to deliver the valuable programs which have become our trademark.

Best wishes for the upcoming year,

Frederick B. Nicholson

Treasurer and Chairman, Finance Committee

29 >

30 The Parks Foundation, Calgary Statement of Financial Position As at December 31, 2015

Managed Funds Operating Fund Total Total December 31, December 31, December 31, December 31, December 31, December 31, 2015 2014 2015 2014 2015 2014 $$$$$$ Assets Current assets Cash and cash equivalents (Note 4) 5,253,592 4,510,983 3,239,009 2,473,721 8,492,601 6,984,704 Accounts receivable 57,629 158,538 57,826 88,204 115,455 246,742 Grants receivable - - 50,000 - 50,000 - Prepaid expenses - - 7,552 - 7,552 - Due to (from) funds (Note 6) 587,451 288,254 (587,451) (288,254) - - 5,898,672 4,957,775 2,766,936 2,273,671 8,665,608 7,231,446

Investments 19,304,989 17,466,077 - - 19,304,989 17,466,077

Capital assets (Note 7) - - 111,477 128,494 111,477 128,494 25,203,661 22,423,852 2,878,413 2,402,165 28,082,074 24,826,017 Liabilities Current liabilities Accounts payable and accrued liabilities - 12,000 65,796 57,765 65,796 69,765

Fund balances (Note 9) Unrestricted - - 829,716 736,660 829,716 736,660 Internally restricted 3,911,168 2,710,991 1,871,424 1,479,246 5,782,592 4,190,237 Internally restricted - invested in capital assets - - 111,477 128,494 111,477 128,494 Externally restricted 21,292,493 19,700,861 - - 21,292,493 19,700,861 25,203,661 22,411,852 2,812,617 2,344,400 28,016,278 24,756,252 - - 25,203,661 22,423,852 2,878,413 2,402,165 28,082,074 24,826,017

Nature of organization (Note 1) Composition of managed funds (Note 3) Multi-year sponsorship commitments (Note 5) Commitments (Note 14)

Signed on behalf of the Board of Governors

John Houghton Frederick B. Nicholson John Houghton, Chairman Frederick B. Nicholson, Treasurer

The accompanying notes are an integral part of these financial statements

31 The Parks Foundation, Calgary Statement of Income, Expenses and Changes in Fund Balances For the year ending December 31, 2015 > Managed Funds Operating Fund Total Fund 2015 2014 2015 2014 2015 2014 $$$$$$ Income Contributions (Note 11) 7,847,394 11,289,696 212,023 238,918 8,059,417 11,528,614 Investment income - realized 514,785 633,781 960,195 753,426 1,474,980 1,387,207 Investment income - unrealized 67,612 299,122 4,675 142,375 72,287 441,497 Other income - - 91,731 102,825 91,731 102,825 8,429,791 12,222,599 1,268,624 1,237,544 9,698,415 13,460,143 Expenses Project costs (Note 12) 4,968,704 8,050,602 35,641 53,058 5,004,345 8,103,660 Saddledome grants 561,546 566,014 - - 561,546 566,014 Administration - - 852,681 830,241 852,681 830,241 Amortization - - 19,817 25,334 19,817 25,334 5,530,250 8,616,616 908,139 908,633 6,438,389 9,525,249

Excess of income over expenses 2,899,541 3,605,983 360,485 328,911 3,260,026 3,934,894 Fund transfers and allocations (Note 15) Administration (Note 13) (139,665) (201,701) 139,665 201,701 - - Management (243,453) (329,725) 243,453 329,725 - - Transfers 275,386 194,813 (275,386) (194,813) - - (107,732) (336,613) 107,732 336,613 - -

Excess of income after transfers 2,791,809 3,269,370 468,217 665,524 3,260,026 3,934,894

Fund balance, beginning of year 22,411,852 19,142,482 2,344,400 1,678,876 24,756,252 20,821,358 Fund balance, end of year (Note 9) 25,203,661 22,411,852 2,812,617 2,344,400 28,016,278 24,756,252

The accompanying notes are an integral part of these financial statements.

32 The Parks Foundation, Calgary Statement of Cash Flows For the year ending December 31, 2015

2015 2014 $$ Excess of income over expenses Operating activities Excess of income over expenses after transfers Project Fund 1,103,429 1,973,630 Maintenance Fund 1,096,951 118,672 Endowment Fund 591,429 1,177,068 Operating Fund 468,217 665,524 3,260,026 3,934,894 Items not affecting cash Amortization 19,817 25,334 Investment income - unrealized (72,287) (441,497) Net change in non-cash working capital items affecting operations Decrease (increase) in accounts receivable 81,287 (25,296) Increase in prepaid expenses (7,552) - Decrease (increase) in accounts payable (3,969) 515 Net cash from operating activities 3,277,322 3,493,950 Investing activities Purchase of investments (1,766,625) (1,060,224) Purchase of capital assets (2,800) - Net cash used in investing (1,769,425) (1,060,224)

Increase in cash and cash equivalents 1,507,897 2,433,726 Cash and cash equivalents, beginning of year 6,984,704 4,550,978 Cash and cash equivalents, end of year 8,492,601 6,984,704

The accompanying notes are an integral part of these financial statements.

33 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015 > 1 Nature of Organization

The Parks Foundation, Calgary (the “Foundation”) was incorporated as a company on February 12, 1985 under the Companies Act of Alberta. In 1995, the Articles of Association were updated to extend the responsibility of the Foundation to include the Amateur Sport Fund and the Calgary River Valleys Committee. As of December 31, 2009, the contract with the River Valleys Committee expired and the Articles of Association have yet to be updated. The objectives of the Foundation are:

x to promote and encourage the co-operative effort of government, private and community sector involvement toward the enhancement of the quality of parks, recreation and open space in the City of Calgary; and

x to solicit funds, assets, property and rights and to administer receipt of same for the benefit of the City of Calgary as agent for and on behalf of the City of Calgary.

All financial transactions and balances disclosed in these financial statements have been entered into and are being held by the Foundation as agent for the City of Calgary (“City”). The Foundation operates under a Memorandum of Agreement with the City, expiring December 31, 2017, with an option to renew for two years. The Foundation leases the land and building from which it operates from the City at an annual lease in the amount of $1,200 which expires on July 17, 2017, with an option to renew for another two terms each five years in length, subject to an increase pegged on the Consumer Price Index. No member of the Foundation is entitled to any distribution from the Foundation by virtue of membership in the Foundation. During the year, the Foundation received an operating grant from the City’s Enmax Legacy Fund for $200,000 (2014 - $198,344) to support its operations. The Enmax Legacy Fund annual grant of $200,000 is committed for five years commencing in fiscal 2014. The 2014 grant was reduced by $1,656 due to Council’s decision to reduce the tax rate from 6.1% to 5%, thereby reducing funding to tax-supported functions, including Civic Partners. The Foundation is a not-for-profit organization as defined under paragraph 149(1)(l) of the Income Tax Act, and therefore, is not subject to income tax. The Foundation is classified as a municipal corporation and as such is entitled to 100% GST rebate.

Basis of accounting

The financial statements of the Foundation have been prepared by management in accordance with Canadian accounting standards for not-for-profit organizations (“ASNPO”).

Use of estimates

The preparation of financial statements in conformity with ASNPO requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The more significant estimates in these financial statements relate to management’s estimates of the collectability of accounts receivables, pledges receivables and the estimated useful lives of capital assets. Actual results could differ from those estimates. The financial statements have, in management’s opinion, been properly prepared using careful judgment with reasonable limits of materiality and within the framework of the significant accounting policies summarized below:

34 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

Fund accounting

The Foundation follows the restricted fund method of accounting for contributions.

The Operating Fund reports the assets, liabilities, income and expenses related to the Foundation's administrative activities and the maintenance of certain endowment projects.

The Project Fund reports the assets, liabilities, income and expenses related to the Foundation's projects. Contributions to this Fund are externally restricted. Investment income is reported in the Project Fund as there are external restrictions that this income must be used for the Foundation's projects.

The Maintenance Fund reports the assets, liabilities, income and expenses related to specific Foundation projects. Inter- fund transfers to this Fund are internally restricted. Investment income is reported in the Maintenance Fund as there are internal restrictions that this income must be used for the Foundation's projects.

The Endowment Fund reports resources contributed for endowments. Both original contributions and unrealized investment income are externally restricted. All unrealized investment income is reported in the Endowment Fund. When this income is realized, the unrealized income accrual is reversed and the realized investment income earned on resources of the Endowment Fund is reported in the Operating Fund or the Endowment Fund dependent on whether it is internally or externally restricted.

Cash and cash equivalents

Cash and cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investing or other purposes. Cash consists of cash on hand, in the bank, and certain investments in a money market fund or a bond pooled fund.

Financial instruments

A financial asset or a financial liability is recognized when the Foundation becomes a party to the contractual provisions of the financial instrument. All financial instruments are initially measured at fair value and subsequently at cost or amortized cost, except for equities which are required to be measured at fair value, or financial instruments which are designated at fair value. The Foundation has designated all bonds, guaranteed investment certificates and other financial assets within the investment portfolio, into the fair value category. Unrealized gains and losses on financial instruments are measured at fair value and reported in the Statement of Income, Expenses and Changes in Fund Balances.

Financial assets are tested for impairment when changes in circumstances indicate that the asset could be impaired. Transaction costs on the acquisition and sale of financial instruments are expensed for those items re-measured at fair value at each statement of financial position date and charged to the financial instrument for those measured at amortized cost.

35 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015 Investments > Investments are comprised of all funds invested with a portfolio manager, irrespective of whether the funds are invested in cash and cash equivalents, short or long term investments, or equities, as these investments are held for the purpose of long-term capital growth. Unrealized investment income on the Talisman Access Advantage Endowment Fund and the PartnerParks Endowment Fund portfolios is externally restricted. Realized investment income on these endowment funds is internally restricted by Board approval with consideration to the terms of the agreements. Interest income from these two portfolios is recorded in the Operating Fund and is classified as cash and cash equivalent as it is held for the purpose of meeting short-term cash commitments and for recovering some costs of the Foundation’s operations. Investment income of the other portfolios is held within their investment components. A specific condition, applying to the Saddledome Amateur Sport Fund, a project fund, requires that the equity portion up to $500,000 be restricted and not be made available for expenditure.

Investment income realized consists of interest, dividends and capital gains (losses). Income on investments is reported net of investment management, banking and custodial fees of $74,756 (2014 - $50,021 management fee and $5,072 banking and custodial fees).

Capital assets

The Foundation records all donated assets at fair market value at the date of the donation. All other acquisitions are recorded at cost. These assets are amortized over their useful lives using the declining balance method of amortization taking one-half year amortization in the year of acquisition. Amortization rates are 30% for office equipment, 20% for furniture and fixtures and 10% for leasehold improvements. Amortization expense is recorded in the Operating Fund.

Capital assets are tested annually for impairment where impairment indicators are present. This would occur if a capital asset no longer contributes to the Foundation's ability to provide services. Any excess of the capital asset's carrying value with no long-term service potential over its residual value is recognized as an expense of the period.

Revenue recognition

Contributions are recognized when received or receivable if the amount to be received can be reasonably estimated and collection is reasonably assured. Restricted contributions related to operations are recognized as revenue of the Operating Fund in the year in which the related expenses are incurred. All other restricted contributions are recognized as revenue of the appropriate restricted fund. Unrestricted contributions are recognized as revenue of the Operating Fund. Contributions for endowment are recognized as revenue of the Endowment Fund, upon receipt of contributions. Investment income, net of portfolio manager fees, and other income is recognized as revenue when earned on the accrual basis. Investment income reflects gains and losses on sale of investments. Unrealized income or loss reflects re- measurement of investments to fair value.

Contributed materials and services

The Foundation receives various contributions in the forms of materials and services to carry out its objectives. Because of the difficulty in determining their fair value, contributed materials and services are not recognized in the financial statements.

36 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

Project administration

The Foundation charges an administration allocation of 2% to all projects, 1.0% -1.5% to all endowment funds managed by the Foundation and 5% of capital funds raised which are available for granting to communities. The Foundation grants the 2% administration allocation to community projects that qualify under the PartnerParks Administration Costs Allocation Granting Program. Management has the discretion to charge administration costs allocation to recover costs from projects which do not qualify under the PartnerParks Administration Costs Allocation Granting Program and under special circumstances.

In addition, the Foundation receives management costs allocation to assist certain projects during the fundraising or development stages, or to administer grants on behalf of other non-for-profit organizations, or to manage projects construction.

Administration costs allocations are collected monthly based on either the contributions received or the bank balances. Management costs allocations for projects initiated by the Foundation are collected based on percentage of completion, determined on the basis of project and associated costs incurred, without jeopardizing the completion of the project. Where it is difficult to place a value on the costs incurred, revenue shall be recognized on a straight line basis over the term of the project.

Administration and management costs allocations are reflected as fund transfers and allocations from the Project Fund to the Operating Fund; and fund transfers and allocations within the Operating Fund.

Unless designated as a maintenance fund, any residual fund remaining two years after the completion of any projects will revert back to the Foundation and will be utilized at the discretion of the Board of Governors. Residual funds can upon written request be converted into an endowment fund dedicated for maintenance of the project.

Allocated remuneration costs

In the course of its operations, the management of the Foundation allocates remuneration costs to its different funds, based on management’s best estimate of the time spent by each employee in each area.

Pledges receivable

Pledges receivable are recorded in the financial statements when the following criteria are met:

x Signed letter from the donor stating pledged amount with no outstanding conditions; x The project is confirmed to proceed on a given date or has already commenced construction; x Their fair value can be reasonably estimated; and x Collection is reasonably assured.

37 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015 2 Financial Instruments > The Foundation holds various forms of financial instruments. The nature of these instruments and the Foundation's operations exposes the Foundation to various risks. Except as disclosed elsewhere, the Foundation’s financial instruments have the following risks:

(i) Interest rate risk

Interest rate risk is the risk that the value of interest bearing financial instruments will fluctuate due to changes in the prevailing levels of market interest rates. The fixed income investments are also subject to cash flow risk, arising from the reinvestment of cash flow at varying interest rates.

The Foundation is exposed to interest rate risk arising from the fluctuations in interest rates on its investments. The Foundation mitigates these risks through investment guidelines approved by the Foundation’s Board.

At December 31, 2015, the Foundation had $10,999,630 (2014 - $9,045,431) of investments exposed to interest rate risk.

(ii) Equity price risk

Equity risk is the uncertainty associated with the valuation of assets arising from changes in equity markets. To mitigate equity price risk, the Foundation has investment policy guidelines in place that provide for prudent investment in equity markets within clearly defined limits.

The Foundation has an upper limit on equities of 50% (0% for the Short Term Projects account). The portfolio manager has an internal constraint of no more than 20% of its net assets in a particular industry (i.e. sub-sector) as classified by the Global Industry Classification Standards (“GICS”) to reduce concentration risk. The portfolio manager limits the magnitude of any one asset mix shift to 5% per quarter to reduce timing risk. The portfolio manager also limits the investment in any one corporation to no more than 10% of the equity component.

The Fund’s equity holdings are in nine of ten GICS sectors and are most heavily weighted to Financials (26% of the equity weight), Industrials (16%) and Information Technology (14%). The combined exposure to all three sectors is 56%.

At December 31, 2015, the Foundation had $7,683,320 (2014 - $6,773,633) of investments exposed to equity price risk.

(iii) Credit risk

Substantially all of the Foundation's cash and cash equivalents and investments are held within a Chartered financial banking institution and their custodian. As such, the Foundation is exposed to the risks of these entities.

The Foundation’s accounts receivable consists of GST receivable from the government. Accordingly, the Foundation views credit risk on GST receivable as minimal.

The fair value of debt securities includes consideration of the credit worthiness of the debt issuer. The carrying amount of the debt securities held within the investments represents the maximum credit risk exposure as at December 31, 2015. 38 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

Credit risk arising on debt instruments is mitigated by investing primarily in rated instruments or instruments issued by rated counterparties of credit ratings of at least BBB. The average credit quality of the Canadian Bond Pooled Fund as at December 31, 2015 was AA (2014 – AA).

(iv) Currency risk

Currency risk arises from financial instruments that are denominated in a currency other than the Canadian dollar, which is the Foundation’s functional currency. The Foundation is exposed to the risk that the value of securities denominated in other currencies will fluctuate due to changes in exchange rates. The exposure to currency risk is primarily through investment in mutual funds with foreign equity holdings. Equities trading in foreign markets are also exposed to currency risk as the price in local terms on the foreign stock exchange is converted to Canadian dollars to determine fair value. Generally the Foundation holds its direct cash in Canadian dollars.

As at December 31, 2015, the Foundation had $5,792,219 (2014 - $4,675,083) of investments exposed to currency risk.

(v) Liquidity risk

Liquidity risk is the risk that the Foundation will encounter difficulty in meeting its obligations associated with financial liabilities. This includes the risk that, as a result of operational liquidity requirements, the Foundation will not have sufficient funds to settle a transaction on the due date; will be forced to sell financial assets at a value, which is less than what they are worth; or may be unable to settle or recover a financial asset. Liquidity risk arises from accounts payable. The Foundation has reserve funds from prior year surpluses to mitigate the liquidity risk, and monitors their cash flows on a regular basis.

39 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015 > 3 Composition of Managed Funds

PARKS FOUNDATION CALGARY Consolidated Statement of Financial Position

Project Fund Maintenance Fund Endowment Fund Managed Funds December 31, December 31, December 31, December 31, December 31, December 31, December 31, December 31, 2015 2014 2015 2014 2015 2014 2015 2014 $$$$$$$$ Assets Current assets Cash and cash equivalents (Note 4) 5,253,592 4,510,983 - - - - 5,253,592 4,510,983 Accounts receivable 57,231 158,234 - - 398 304 57,629 158,538 Due to (from) funds (Note 6) 581,961 288,254 5,490 - - - 587,451 288,254 5,892,784 4,957,471 5,490 - 398 304 5,898,672 4,957,775

Investments 3,594,012 3,437,896 3,020,927 1,929,466 12,690,050 12,098,715 19,304,989 17,466,077 9,486,796 8,395,367 3,026,417 1,929,466 12,690,448 12,099,019 25,203,661 22,423,852 Liabilities Current liabilities Accounts payable and accrued liabilities - 12,000 - - - - - 12,000

Fund balances (Note 9) Internally restricted 337,838 375,913 3,026,417 1,929,466 546,913 405,612 3,911,168 2,710,991 Externally restricted 9,148,958 8,007,454 - - 12,143,535 11,693,407 21,292,493 19,700,861 9,486,796 8,383,367 3,026,417 1,929,466 12,690,448 12,099,019 25,203,661 22,411,852 - - 9,486,796 8,395,367 3,026,417 1,929,466 12,690,448 12,099,019 25,203,661 22,423,852

Nature of organization (Note 1) Multi-year sponsorship commitments (Note 5) Commitments (Note 14)

40 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

PARKS FOUNDATION CALGARY Statements of Income, Expenses and Changes in Fund Balances For the period ended December 31, 2015

Project Fund Maintenance Fund Endowment Fund Managed Funds 2015 2014 2015 2014 2015 2014 2015 2014 $$ $ $ $$$$ Income Contributions (Note 11) 7,441,554 10,420,777 - - 405,840 868,919 7,847,394 11,289,696 Investment income - realized 118,070 127,951 41,738 68,214 354,977 437,616 514,785 633,781 Investment income (loss) - unrealized 1,197 32,623 152,834 50,458 (86,419) 216,041 67,612 299,122 Other income ------7,560,821 10,581,351 194,572 118,672 674,398 1,522,576 8,429,791 12,222,599 Expenses Project costs (Note 12) 4,961,568 7,780,903 - - 7,136 269,699 4,968,704 8,050,602 Saddledome grants 561,546 566,014 - - - - 561,546 566,014 Administration ------Amortization ------5,523,114 8,346,917 - - 7,136 269,699 5,530,250 8,616,616

Excess of income over expenses 2,037,707 2,234,434 194,572 118,672 667,262 1,252,877 2,899,541 3,605,983 Fund transfers and allocations (Note 15) Administration (Note 13) (138,832) (200,892) - - (833) (809) (139,665) (201,701) Management (243,453) (329,725) - - - - (243,453) (329,725) Transfers (551,993) 269,813 902,379 - (75,000) (75,000) 275,386 194,813 (934,278) (260,804) 902,379 - (75,833) (75,809) (107,732) (336,613) - - Excess of income after transfers 1,103,429 1,973,630 1,096,951 118,672 591,429 1,177,068 2,791,809 3,269,370

Fund balance, beginning of year 8,383,367 6,409,737 1,929,466 1,810,794 12,099,019 10,921,951 22,411,852 19,142,482 Fund balance, end of year (Note 9) 9,486,796 8,383,367 3,026,417 1,929,466 12,690,448 12,099,019 25,203,661 22,411,852

41 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

4 Cash and Cash Equivalents and Investments >

A s at Dec ember 31, 2015, the Foundation held the follow ing c ash and investments:

December 31, 2015 December 31, 2014 Market Value Cost Market Value Cost $$ $$ Cash and cash equivalents 8,492,601 8,408,107 6,984,704 6,904,885 Investments 19,304,989 16,483,216 17,466,077 14,711,789 Total 27,797,590 24,891,323 24,450,781 21,616,674

Cash and cash equivalents and investments are allocated to the following:

Managed Funds Operating Fund Total 2015 2014 2015 2014 2015 2014 $$$$$$ Cash and cash equivalents 5,253,592 4,510,983 3,239,009 2,473,721 8,492,601 6,984,704 5,253,592 4,510,983 3,239,009 2,473,721 8,492,601 6,984,704 Investments Money market fund and T-bill securities 1,055,477 1,019,912 - - 1,055,477 1,019,912 Bond pooled fund and fixed inc ome sec urities 5,619,283 5,010,736 - - 5,619,283 5,010,736 Balanced pooled fund 12,630,229 11,435,429 - - 12,630,229 11,435,429 19,304,989 17,466,077 - - 19,304,989 17,466,077

Total market value 24,558,581 21,977,060 3,239,009 2,473,721 27,797,590 24,450,781

Decrease (increase) over historical cost (2,821,774) (2,754,287) (84,494) (79,820) (2,906,268) (2,834,107) Cost 21,736,807 19,222,773 3,154,515 2,393,901 24,891,322 21,616,674

The funds listed in the above summary as Managed Funds are comprised of the follow individual funds:

Project FundMaintenance Fund Endowment Fund Managed Funds 2015 2014 2015 2014 2015 2014 2015 2014 $$$$$$$$ Cash and cash equivalents 5,253,592 4,510,983 ----5,253,592 4,510,983 5,253,5924,510,983----5,253,5924,510,983 Investments -- Money market fund and T-bill securities 937,098 904,874 - - 118,379 115,038 1,055,477 1,019,912 Bond pooled fund and fixed income securities 1,805,251 1,714,033 711,402 512,275 3,102,630 2,784,428 5,619,283 5,010,736 Balanced pooled fund 851,663 818,989 2,309,525 1,417,191 9,469,041 9,199,249 12,630,229 11,435,429 3,594,012 3,437,896 3,020,927 1,929,466 12,690,050 12,098,715 19,304,989 17,466,077 -- Total market value 8,847,604 7,948,879 3,020,927 1,929,466 12,690,050 12,098,715 24,558,581 21,977,060 -- Decrease (increase) over historical cost (279,341) (278,269) (469,514) (316,679) (2,072,919) (2,159,339) (2,821,774) (2,754,287) Cost 8,568,263 7,670,610 2,551,413 1,612,787 10,617,131 9,939,376 21,736,807 19,222,773

42 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

5 Multi-year Sponsorship Commitments

Multi-year commitments from various donors for the Rotary/Mattamy Greenway (“Greenway”) project amount to $3,262,526 (2014 – $5,422,023). These sponsorship commitments are not recorded as pledges receivable as they are provided as commitments to the Foundation, which are revocable, best efforts, or construction of sponsored sites that will be completed in subsequent years.

Sponsors have committed to contribute the following: $ 2016 1,987,526 2017 1,275,000 3,262,526

The Calgary Rotary clubs and Mattamy Homes committed $5,000,000 each for a total of $10,000,000, payable over five years, for sponsorship of the Greenway with naming rights of the pathway as Rotary/Mattamy Greenway. These financial commitments are included in the table above, net of $5,000,000 received from Mattamy Homes in 2015 and $2,602,526 received from Rotary clubs in 2013 through 2015.

There is also a commitment to contribute cash with a balance of $25,000 (2014 - $50,000) payable over the next two years arising from a commitment for sponsorship in the form of construction of certain phases of the Greenway. This commitment is to be credited to Operating Administration in lieu of administration and management costs allocation to the Greenway project.

6 Due to (from) Funds

The accumulated net investment income of $681,771 (2014 - $414,887) of the Talisman Operating Fund is owed to the Talisman Project Fund. The net investment income excludes the fair value adjustments earned by the Talisman Endowment Capital Fund.

The Foundation transferred $30,000 in 2014 from the PartnerParks Endowment Fund to the Bio-Energy Project as a repayable loan approved by the Board of Governors. The loan is outstanding as at December 31, 2015.

In 2015, management fees for the three months ended December were accrued for the Greenway project and the bench program in the amounts of $31,320 and $24,000 respectively (2014 - $95,433 and $1,200 respectively).

In 2015, management fees for the three months ended December were accrued for the Saddledome Fund in the amounts of $9,000 (2014 – $ nil).

In 2015, the portion of funds collected from sale of benches for ongoing maintenance net of the current years expenses for the 12 months ended December were accrued for the Bench Maintenance Reserve Fund in the amounts of $5,490 (2014 – $ nil).

43 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

7 Capital Assets >

Capital assets are comprised of the following:

2015 Accumulated Net Book Cost Amortization Value $$$ Office equipment 133,090 108,764 24,326 Furniture and fixtures 24,730 24,587 143 Leasehold improvements 322,203 237,995 84,208 Artwork 2,800 - 2,800 482,823 371,346 111,477

2014 Accumulated Net Book Cost Amortization Value $$$ Office equipment 133,090 98,339 34,751 Furniture and fixtures 24,730 24,552 178 Leasehold improvements 322,203 228,639 93,564 480,023 351,530 128,494

8 Greenway Credit Facility

This line of credit bears interest at prime plus 0.5% and is secured by an encumbrance upon the PartnerParks Endowment Fund administered by the portfolio manager up to a maximum of $1,000,000, and is payable on demand. As at December 31, 2015, $nil was drawn from the credit facility (2014 – $ nil).

44 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

9 Fund Balances

a) Project Fund

The Project Fund comprises the fund balances of the following projects under administration:

2015 2014 $$ Rotary/Mattamy Greenway 1,640,726 2,044,869 Bio Energy Park 802,748 (27,135) PartnerParks Administration Fee Granting Fund 337,838 375,913 Building Playgrounds and Communities 294,806 179,563 Rotary/Mattamy Greenway Phase 1 234,622 234,622 Inglewood Bird Sanctuary 54,445 54,445 Rotary Park 43,815 43,815 Horticultural Therapy Program 39,684 67,378 Connaught Community Park 389,903 383,498 Various other Foundation Project 77,060 63,218 Saddledome Amateur Sport Fund 2,331,683 2,269,390 John Currie Endowment Fund 679,090 649,724 Talisman Centre 732,330 466,013 Bench Program 294,704 276,644 Hawkwood Green Playground 165,000 - Calgary Community Bridge League 116,145 116,145 Gerry Shaw Gardens 101,263 3,384 Riverdale Avenue Lighting 89,983 89,983 CKE Community Center 124,356 18,991 Discovery Ridge Playground 77,668 80,584 Calgary Gymnastics Club 68,991 54,541 Crescent Park Playground 65,734 27,179 Paskapoo Slopes 62,933 62,933 Highwood School Playground & Naturalization - 174,936 Various other Community Projects 661,269 672,734

9,486,796 8,383,367

i. According to the funding agreement between The City of Calgary and the Foundation, the fund balance maintained in the Saddledome Amateur Sport Fund shall not be permitted to drop below $500,000. As per above, this fund balance significantly exceeds this minimum.

ii. The PartnerParks Administration Fee Granting Fund is internally restricted given that the disposition of the fund is at the discretion of the Board.

45 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

b) Endowment Fund

Endowment Fund comprises the fund balances of the endowment projects under administration:

2015 2014 $$ PartnerParks Endowment Fund 3,849,891 3,834,805 Talisman Access Advantage Endowment Fund 3,499,940 3,074,951 Operating Endowment Fund 2,884,806 2,726,704 Art Smith Amateur Sport Endowment 1,988,788 1,995,200 Police & Fire Endowment Fund 175,961 174,978 Heritage Escarpment Endowment Fund 144,656 145,679 Patterson Homestead Park 65,172 65,646 Legion Tree Endowment Fund 53,508 51,168 Jack Leslie Youth Environment Award 27,726 29,888 12,690,448 12,099,019

In 2015, $663,647 (2014 - $592,782) of investment income earned on the Endowment Capital Fund is reported under the Operating Fund.

c) Maintenance Fund

The Maintenance Fund comprises the fund balances of reserves held for the maintenance of specific Foundation projects.

2015 2014 $$ Rotary/Mattamy Greenway Reserve Fund 2,558,605 1,476,160 Bench Reserve Fund 467,812 453,306 3,026,417 1,929,466

In 2015, $184,253 (2014 - $93,720) of investment income earned on the Maintenance Fund is reported under the Operating Fund.

46 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

d) Operating Fund

The Operating Fund comprises the fund balances for project maintenance, administration and operating fiscal stability reserve fund.

The project maintenance balance represents the net interest income of the PartnerParks Endowment Portfolio. The administration fund represents the net assets of the fund to operate the Foundation.

2015 2014 $$ Project maintenance 1,209,464 858,703 Administration - other than capital assets 829,716 736,659 Administration - capital assets 111,477 128,494 Operating Fiscal Stability Reserve Fund 661,960 620,544 2,812,617 2,344,400 Operating Fiscal Stability Reserve Fund Beginning balance 620,544 503,426 Investment income 41,829 37,590 Adjustment for fair market value (413) 79,528 Total 661,960 620,544

The Operating Fiscal Stability Reserve Fund was created following a motion passed by the Board of Governors on September 30, 2010, with an initial amount transferred from the Greening a Great City Legacy campaign residual fund. The amount to be internally restricted each year is at the discretion of the Board.

During 2013, the Board approved the transfer of $100,000 from the Operating Administration surplus to the internally restricted Operating Fiscal Stability Reserve Fund. During 2015 and 2014, no similar transfer was made to this fund. In the event of a deficit in Operating Administration, the Operating Fiscal Stability Reserve Fund can be made available for operating administration by approval of the Executive and the Board.

10 Members’ Limited Liability

The liability of the members is limited to the guarantee given by each member to contribute a maximum of $1 in the event the Foundation is wound-up.

47 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

11 Contributions by Source >

During the year, contributions were received from the following sources:

2015 2014 $$ Government 1,426,699 1,293,825 Corporations 2,017,672 4,147,963 Individuals 2,266,330 2,070,149 Other not-for-profit 2,348,716 4,016,677 8,059,417 11,528,614

12 Related Party Transactions

Related party balances and transactions not otherwise disclosed in these financial statements consist of:

a) Legal fees of $150,117 (2014 – $nil) were paid to a corporation related to a director of the Foundation, with regard to an estate donation to be contributed to an Endowment Fund with the Foundation.

b) Professional fees of $18,602 (2014 - $24,920) were paid to a corporation related to the Treasurer of the Foundation, with regard to accounting and finance services for the Foundation. All invoices and cheques related to these services are signed by both the CEO and one of either the Chairman or Past Chairman of the Board of Governors.

c) Insurance policies amounting to $14,890 (2014 - $13,289) were brokered through a corporation related to a director of the Foundation. The policies cover property, crime, commercial liability, cyber liability and directors and officers’ liability.

These transactions are in the normal course of operation and are recorded at their exchange amounts, which is the amount of consideration established and agreed to by the related parties.

13 Fundraising Expenses

As required under Section 7(2) of the Charitable Fund-Raising Act of Alberta, the Foundation discloses the following:

a) Expenses incurred for the purposes of soliciting contributions were $1,264 (2014 – $nil).

b) $231,326 (2014 – $225,543) was paid as remuneration to employees whose principal duties involve fund-raising and is recorded in the administration expense of the operating fund. The fundraising remuneration costs were determined by management, by allocating total remuneration of the employees involved in fundraising, using their best estimate of time spent by each employee on fundraising activities during the year.

48 The Parks Foundation, Calgary Notes to Financial Statements For the year ending December 31, 2015

14 Commitments

Under the terms of the Saddledome Amateur Sports Grant contracts, the Foundation is committed to pay out $1,261,795 (2014 - $799,632) of grants, subject to the conditions of the grants being satisfied. The funds for these commitments are in the externally restricted project fund.

15 Inter-fund Transfers

As part of the Greenway project agreement, the Board is allowed to transfer up to 10% of the total funds raised in the Project Fund to the Maintenance Fund for the Rotary/Mattamy Greenway. During 2015, there was a transfer of $896,889 for this purpose. During 2014, no similar transfer was made to this fund.

The Foundation transferred $75,000 (2014 - $75,000) from the Operating Endowment Fund to the Operating Fund to cover operating costs as per the agreement with the City.

The Foundation transferred $40,000 (2014 - $nil) from the Operating Fund to the Project Fund to be granted under the Architectural Granting Program.

The Foundation transferred $266,883 (2014 - $243,928) from the Operating Fund to the Project Fund to fund the Talisman Access Program per agreement.

The Foundation transferred $nil (2014 - $30,000) from the PartnerParks Endowment Fund to the Bio-Energy Project as a repayable loan approved by the Board of Governors.

49 >

Parks Foundation Calgary T: 403.974.0751 F: 403.974.0758 E: [email protected] W: www.parksfdn.com

225 13 Avenue SW Calgary, AB T2R 1N8

Annual Report Managed and Designed by: Alyshia Auston