BUILDING A BETTER FUTURE

FINANCIAL LITERACY WORK READINESS ENTREPRENEURSHIP

Annual Report 2015-2016

JA Central Ontario A Member of JA Canada About JA

JA Worldwide is one of the largest global NGOs dedicated to addressing fundamental social and economic challenges of young people by educating and empowering them to transform their future and own their economic success. With more than 100 member countries, the JA Worldwide network is powered by over 450,000 volunteers and mentors, reaching more than 10 million young people around the world every year.

From Barrie to Burlington to Bowmanville, JA Central Ontario delivers cutting-edge, experiential learning in financial literacy, work readiness, and entrepreneurship. We broaden the canvas of possibility for young people across Central Ontario and enrich their ability to engage in their own economic development and contribute to the strength of their families, communities, and local economies.

IN FISCAL 2016, JA CENTRAL ONTARIO WAS PROUD TO:

INSPIRE CONNECT WITH REACH DELIVER 51,224 3,366 563 2,005 STUDENTS VOLUNTEERS SCHOOLS PROGRAMS AND AND 69 99 CORPORATE NEW PARTNERS SCHOOLS

What’s Inside? Leadership Message 1 Award Winning Volunteers 2 Financial Literacy 3 Work Readiness 4 Entrepreneurship 5 Company Program 6 Program Events 7 Corporate Donors 8 Individual Donors 12 Bold Thinkers 13 Governors’ Dinner 14 Golf Classic 15 Auditor’s Report 16 Financial Statements 17 Board of Directors 18 Board of Governors 19 Leadership Message It’s tough to be a student these days. While it is true that they don’t have to walk miles in the snow, they do face higher unemployment and under-employment levels, grow up in households with the highest debt ratios in G7 countries, and increasingly find that their academic careers do not prepare them for the workplace.

Throughout this report you will see that the data demonstrates the need for JA programs has never been greater. JA Central Ontario has the potential to improve personal money management skills, our economic prosperity and address Toronto’s severe youth unemployment numbers.

The impact of our programs is significant. In fact, the Boston Consulting Group states that students who participate in our programs will save more, borrow less and be less likely to be on social assistance later in life. In addition, half of our students will open their own business driving new employment and economic growth.

We are very proud of this impact and the opportunity to contribute positively to an improved future state for our community. Our impact, however, is limited by time Cathy MacDonald and money. Last year, only 9% of students in our catchment area received life- Chair of Board of Directors, EVP, altering money management skills at impressionable times in their lives. Annually, Information Technology and hundreds of teachers who request for a JA program in their classroom are placed Operations, on a wait list because we do not have the funding or volunteers to honour their Xplornet Communications Inc. requests.

It is for these reasons that our organization has endorsed a new five-Year Strategic Plan. We are excited to work to increase the profile of our brand, to diversify and grow our sources of revenue and to explore new and efficient ways of reaching students. In addition, we are committed to excellence and strive to build a professional culture with a strong work ethic.

To those of you who have supported us with funding and/or volunteers, please accept our heartfelt appreciation for your support. Your investment of time and money is safe with us. We are one of only a few accredited not-for-profit organizations meeting the high standards set by Imagine Canada. In addition, we are financially sound with a strong balance sheet.

There are exciting times ahead. Your support will allow us to increase our impact and address several economic burdens currently compromising our potential. We Jane Eisbrenner hope you will join us for this exciting and rewarding ride!

President & CEO, JA Central Ontario

Cathy MacDonald Jane Eisbrenner

Chair of Board of President & CEO, Directors, EVP, Information JA Central Ontario Technology and Operations Xplornet Communications Inc. 1 Award Winning Volunteers

Russ Robertson receives the 2015 Miskiman Award from JA Canada

The Miskiman Award recognizes volunteers who have immeasurably furthered the aims and objectives of JA in Canada. Mr. Robertson was recognized for his incredible 38+ years of service to JA Central Ontario during which time he has fulfilled a number of board roles including Board Chair, Governor, leadership in the areas of fundraising, volunteer recruitment, financial sustainability and his ongoing commitment to delivering JA programs.

Larry Chan Honoured with the 2015 Toronto Legacy Award

Larry Chan was one of 25 recipients of the 2015 Toronto Legacy Award. Larry has been a dedicated volunteer with JA Central Ontario for 20 years. He has spent over 2,000 hours mentoring and guiding young people in the ways of business and entrepreneurship, and by supporting them as they transition into post-secondary education. “Over the last 12 years JA has been able to reach over 600,000 students. Larry has been a direct contributor to that impact: through his mentorship, his financial support, and his valuable oversight as a Board Director.” - Jane Eisbrenner, President & CEO, JA Central Ontario

Joanna Williams receives RBC Volunteer of the Year Award

Joanna has been a JA volunteer for over fourteen years delivering day programs and serving as a Company Program Advisor. This year she was selected as one of twenty RBC Canadian Banking and Insurance employees to receive its inaugural Global Citizen Award. “Who we are drives what we do and how we spend our time. RBC has always supported me and my work in the community - I am most Kevingrateful.” Lee awarded- Joanna Williams, as RBC the Enbridge Volunteer of the Year

Kevin Lee awarded as the Enbridge Volunteer of the Year Kevin Lee named Enbridge Volunteer of the Year

“Volunteering provides me with a deep sense of fulfilment, to know that I’ve positivelyWe impacted are someone’son a mission life. JA Advisors to inspire don’t volunteer their time to benefit their careersand and prepare resumes. Beingyouth an advisor to succeed is just a title; in respect a from the students should be earned.” - Kevin Lee, Enbridge Gas global economy. 2 “Saving, budgeting and FINANCIAL LITERACY managing money and debt wisely can go a long way in helping young Canadians attain their short and long term goals.”

Jane Rooney | Financial Photo: Grade 8 students Consumer Agency of Canada, participating in a JA program Financial Literacy Leader

In the News JA programs prepare students to make life-long smart financial decisions.

50% JA Financial Literacy curriculum equips students with the vital tools they need to make a budget, live debt-free and become savvy investors. Students learn of 18-25 year olds said personal money management skills that they can apply to their lives ... beginning they were unprepared to now. During the 2015/2016 academic year, JA provided the following in-school manage their finances programs: going into post-secondary education.* More Than Money – 780 Elementary School students identified the role of money in everyday life and learned about earning, saving, spending and sharing. Students gained an understanding of how proper money management can improve their lives, and how their financial choices can impact others. 38% Dollars with Sense – 15,479 Middle School students learned how to make of 18-25 year olds said smart financial decisions, live debt-free and become savvy investors. Students they are not putting any evaluated their financial decisions against their goals by developing a money money away on a monthly management self-profile, discovering what influences their spending, learning how basis for long-term to make informed consumer decisions, and preparing a budget. savings.* Investment Strategies – 600 Secondary School students learned how to understand the pros and cons of different investments, such as RRSPs, exchange- traded funds and GICs. Students then applied the investing principles they 34% learned in the program by competing in a stock simulation linked to live data from North American stock markets. of 18-25 year olds said their household doesn’t follow a budget. ** JA Alumni are

Sources: * Capital One Canada Financial Education study, 3X 2016 more likely ** Ipsos Reid for ABC Life Literacy Canada, 2011 to hold senior and middle management positions in their Source: Making an Impact: Boston Consulting Group 2011 respective organizations. 3 WORK READINESS

“Increasingly there is a mismatch between what Canada’s youth study and what the economy really needs. That’s why JA is so important.”

Benjamin Tal | Deputy Chief Economist of CIBC World Markets Inc.

Photo: Jelani, JA Student Alumnus

JA programs give young people the tools they need to succeed in a global economy. In the News

JA Work Readiness curriculum provides youth with foundational career-building skills they will use throughout their lives. Participants learn communication, networking 18.1% and interview skills and how to collaborate with diverse groups of people to achieve Toronto’s Youth common goals. During the 2015/2016 academic year, JA provided the following in- Unemployment Rate* school programs: Stronger Together – 3,876 Middle School students discovered the important role teamwork and diversity plays in Canada and in the workplace. Students recognized the benefits of working with diverse teams at school and in the workplace to achieve 45.3% common goals. Toronto’s Youth Economics for Success – 22,136 Middle School students mapped their interests, Employment Rate* skills and passions into possible careers, learned how to network, identify a mentor, and create a strong personal brand. Students gained the skills they need to set goals, seize opportunities, and envision a future that fuels their passions.

Success Skills – 359 Secondary School students now understand how the skills they 21.8% develop in school and in everyday life relate to skills they will need in the workplace. Gap between Toronto’s This will help them translate their strengths into career success. youth and adult employment - the highest it has ever been.* JA Alumni earn

* Source: Canadian Centre 50% more for Policy Alternatives on average than those who do not Report, 2013 $ benefit from a JA program. Source: Making an Impact: Boston Consulting Group 2011 4 ENTREPRENEURSHIP

“JA is the leading organization nurturing young entrepreneurs - Canada’s future generation of leaders.”

Bruce Rothney | President, CEO & Head of Country (Canada), Barclays, and an alumnus of JA

Photo: Mohammed, JA Student Alumnus

JA programs inspire students to ask “Do I have what it takes to become an entrepreneur?” In the News

JA Entrepreneurship curriculum helps students understand how to run a successful business enterprise by providing experiential learning opportunities to help them “In a nation of innovators, become knowledgeable about entrepreneurship. During the 2015/2016 academic it’s time to foster year, JA provided the following programs: a culture of innovation.” - David Johnston, Governor Our Business World –3,398 elementary school students witnessed the power of the General Canada, 2015 entrepreneurial spirit in Canada by learning why businesses are created, how they contribute to the well being of a community, and why innovation is important.

Be Entrepreneurial –1,272 secondary school students laid the foundation for creating their own business by identifying products or services they could take to market, determined their competitive advantage, and defined a target audience as part of their 18% business plan. of the Canadian workforce Titan Challenge – 683 Secondary school students competed in this ultimate business count themselves as simulation. See page 9 for more details. self-employed.* Company Program – 1,304 high school students participated in the 18-week after- school Company Program where they created, managed, and liquidated their own business. They used real money, developed real products, and had actual customers. *Source: Statistics Canada Students learned leadership skills, how to identify business opportunities, set goals, Labourforce Survey, 2016 develop a business plan, create a marketing strategy, and launch a product. See page 8 for more highlights of this year’s Company Program.

JA Alumni are 50% more likely to open their own business which leads to innovation, new jobs and wealth creation. Source: Making an Impact: Boston Consulting Group 2011 5 JA Company Program Highlights

In 2016, JA Company Program in Central Ontario continued to grow with over 50 student- run Company Programs. In addition to Student Management Training, Interview Night, and student networking events, we introduced new curriculum, re-branded our Company Program Celebration event and hosted our first Trade Show in the heart of the financial district in Toronto. Our students also reached new heights: 267+ • Liat Fainman-Adelman, recipient of Peter Mansbridge Positive Change Award ($10,000). • Jordan Williams, recipient of Deloitte Inspiration Award ($2,500). COMPANY PROGRAM ADVISORS • Vicky Xu, recipient of Loran Scholar Award Winner ($100,000).

• Sitto, a Deloitte JA Company Program, won the national title and completed at the SAGE World Cup Business Pitch Competition in the Philippines.

• 20 delegates represented JA Central Ontario at the JA Canada Next Generation Leaders Forum alongside peers from 12 countries. 18,690 For more information about Company Program, visit www.jacocompanyprogram.ca. HOURS VOLUNTEERED

1,304

STUDENT PARTICIPANTS

13,000+ PRODUCTS SOLD $ $112,000 SALES GENERATED BY 50+ STUDENT COMPANIES Top: JA Central Ontario Company of the Year Left: Students at VentureON Right: Liat Fainman-Adelman being interviewed on CBC’s The Exchange 6 JA Titan Challenge 683 secondary school students competed in the ultimate business simulation - the JA Titan Challenge. Students worked in teams to make critical production, staffing and capital investment decisions; solve marketing and pricing challenges, and optimize research and development in a competitive environment. This interactive simulation allowed students to see how their decisions impacted business performance. Five Titan events were hosted at GE Mississauga, Seneca College and Sheridan College. Special thanks to the financial sponsors of these five events:

“I enjoyed how we were able to apply what we learned in the morning and actually use it in the competition.” -James, Grade 11 Student

JA Central Ontario Financial Literacy EventA Member of JA Canada 1 Day May 6, 2016 | Centennial College,Financial Scarborough Literacy Event May 6, 2016 | Centennial College, Scarborough JA Central Ontario hosted over 1,000 students from Scarborough in a full-day workshop at Centennial College to learn aboutPRESENTIN differentG SPONSOR forms of payment,JA Central investments Ontario and smart decision making. The event A Member of JA Canada included keynote speaker: Jean Desgagné, President & CEO, Global FinancialEnterprise Services, Literacy TMX Group. Event 1,000 + May 6, 2016 | Centennial College, Scarborough Students

IN PARTNERSHIP WITH PRESENTING SPONSOR 16 Schools

An agency of the Government of Ontario Un organisme du gouvernement de l’Ontario

IN PARTNERSHIP WITH 7

An agency of the Government of Ontario Un organisme du gouvernement de l’Ontario Top Donors

We are most grateful for the generosity of the following donors and are pleased to acknowledge their support for JA Central Ontario’s programs.

Over $100,000 (in alphabetical order)

VOLUNTEERS CLASSROOMS STUDENTS PROVIDED VISITED IMPACTED

218 122 3,164

281 130 3,327

184 109 2,949

346 162 4,375 8 Our Supporters We are most grateful for all of our corporate donors. Your support made it possible for us to offer JA programs to over 51,000 students across Central Ontario this year. Thank you for all of your support, your kindness, and your leadership.

Over $50,000 (in alphabetical order)

$25,000 - $49,999 (in alphabetical order)

$15,000 - $24,999 (in alphabetical order)

9 List of Corporate Contributors

On behalf of the over 51,000 students who participated in JA Central Ontario programs last year, thank you to the following contributors. With your support, our students were able to learn what it takes to become an inspired and confident leader of tomorrow.

Anonymous Enwave Energy Corporation Medcan Health Accenture Equinix National Bank of Canada AIG E.W. Bickle Foundation Nestlé Alcatel-Lucent Canada EY Newmarket-Tay Power Distribution Limited Allstate Insurance Company Financial Awareness of Canada Corporation Northbridge Insurance Altus Group Canada Fox’s Bakery & Deli Office Team Ashlar Urban Realty Inc. Franklin Templeton Investment OMERS Corp Aviva Canada Ontario Pharmacists’ Fundserv Association A.W.B. Charitable Foundation Gen RE Ontario Trillium Foundation Bridgehouse Asset Managers Govan Brown & Associates Pelmorex Media Inc. Broadridge Financial Solutions (Canada) Inc Gowling WLG PricewaterhouseCoopers Canada Foundation Business Development Bank Grant Thornton LLP of Canada RBC Capital Markets Great-West Life, London Life Capservco Limited and Canada Life RBC Insurance Company of Partnership Canada Greystone Managed Cardio Care Investments Reckitt Benckiser (Canada) Incorporated Caterpillar of Canada HUB International Limited Corporation Rich Products Corporation Investment Industry Association CFA Society Toronto of Canada Rogers Bank Chubb Insurance Company International Financial Data Ronald A. Chisholm Limited of Canada Services Rotary Club of Ajax Cisco Intuit Canada Rotary Club of Barrie Colliers International Investors Group Fairview Rotary Club of Mississauga Collins Barrow Investment Industry Regulatory West Conros Corporation Jackman Reinvents Rotary Club of Whitby-Sunrise Cushman & Wakefield J.P. Bickell Foundation SGH Design Partners CWB Maxium Financial Kimberly-Clark Corporation Sim & McBurney DBRS Canada Knightsbridge Human Capital Staples Advantage Canada Solutions Direct Sellers Association of State Street Canada Canada LoyaltyOne Sutter Hill Development DUCA Financial Services Marsh Canada Ltd. Corporation Credit Union MasterCard Canada Inc TATA Consultancy Services Inc. Economical Insurance McDonald’s Restaurants of Tri R Foods 10 Canada Limited Teknion Manulife Lisa Rice The Alexander and Bernice De Maio Lexi Jeyarajan Foundation at the Oakville Community Daniel Richmond Foundation Meaghan Johns Ian Sandy The Andy and Beth Burgess Family Paree Katharos Yasad Sarwar Foundation Victor Poon Asia Shahulhameed The Diamond on Yonge Street David Ruta Juste Songailaite The HIDI Group Victoria Van Leeuwen The Printing House RBC David Waugh Thomas, Large & Singer Incorporated Sarah Courtney Allan Joanna Williams TMX Group Mike Anderson TransUnion Danielle Ashman TD Bank Group TSX Incorporated Anthony Bruin Ruth Beyene TSYS Keith Burt Kyle Brady WIND Mobile Alexandria Chimienti Aditya Chitgopekar Xerox Canada Ltd Heather Dickenson Jessica Croke Xplornet Communications Bryceson Dodge Katherine K. Hui Zuora Tanya Fernandes Jeff Hwee Zurich Roosevelt Fernandes Jorge Jon Joy Gonsalves Diane Kim Gifts In Kind Umer Iqbal Kristi Lewis BMO Financial Group Kirina Kissoon Matthew Luchetti Brookfield Properties Pavan Klotia Patrick Mallay Daurio & Franklin LLP Andy Law Jacqueline McCarthy Osler LLP Ashley Linkletter Laurel Reid Seneca College Sylvia Marcos Forum Shah Sheridan College Erion Moci Kristina Szoke Toronto District School Board Rahul Patel Melissa Tzimas Liliana Patino Rozo Navneet Warrior Corporate Amanda Pimenta Volunteer Grants Aloma Rasquinha

Enbridge Stefania Covelli Seymour Korman Louise Mangalino JA Central Ontario is a registered charity, one of only 176 organizations, out Jason Munroe of the 89,000 charitable and non-profit organizations in Canada, accredited by Imagine Canada. In short, your investment is safe with us. 11 Individual Donors

This past year individuals gave JA Central Ontario $154,000 that helped us reach over 51,000 students with life altering JA programs. Many thanks to the following individuals for taking the lead and for helping us with much needed financial support.

Mark Aboud Jane Eisbrenner Tania Litsos Gary Reamey

Ronald Alepian Edward Faulkner James Liu Daniel Richmond

Jeff & Lynn Allsop Roy Fraser Ryan Lumbers Russel C. Robertson

Linda Antoniuk Joylan Gonsalves Patrick Lundy David A. Ruston

Paul & Catherine Lynn Gonsalves Cathy MacDonald Rocco Schiavone Beauchesne Gerry Guidice Tracey MacDonald Marty Shapiro Tracey Bissett Jennifer Hawkins Katherine MacMillan Oma Sharma Dave Borrelli Janet Hay Louise Mangalino Muzna Siddiqi Nadine Brown Alexandra Holgate Chris Manning Richard Skippon A. Gianluca Cairo Evan Hughes Angela Meharg Joanne Steel Kimberly Cheesman Erica Hughes Dino Melchior John Tanfield Bruce Clark Michelle Ing Daren Meyers Kathleen Taylor Carolyn Coad Gulam Jamal Abdul Rasheed Mohammed Jon Taylor Jamie & Karen Collins Jennifer James Jonathan Moncrieff Nikolas Tsirgielis Chris D. Cornell Doug Jeoffroy Cameron Murray Pafoua Vang-Facey Simone Cowdery Chelsea Jin Britton Nicol Robyn Van Zant Jennifer Cutajar Derek Johnstone Andrew O’Born Richard D. White Kevin Dane Nick Katerinakis Kent Patterson John Wray Stuart Davis Pedram Kaya David Pauli Amy Young Jo-Ann DeLuca Brad King Steven Paynter Michael Zahra Jean Desgagné and Randy Lenaghan Camila Pereira Anonymous Kathy Soden Jason Leong Catherine Perry-Robertson Diane Dobson Michael Leroux Maria Pimenta Scott Dodd Natalya Leshchynska Elizabeth Psutka Rino D’Onofrio Derek Leung Sandee Qian John Duda

12 Bold Thinkers Inspiring Leaders Luncheon

The 3rd annual Bold Thinkers Inspiring Leaders event, graciously hosted by BMO Financial Group, provided an invaluable networking opportunity for business executives and a select group of GTA high school students to meet and be inspired. This year’s event, on February 29th, Presenting Sponsor: recognized three extraordinary business leaders from Central Ontario: • Kathleen Taylor, Chair of the Board, RBC, Former President & CEO, Four Seasons Hotels and Resorts.

• Joe Jackman, Chief Executive Officer, Jackman Reinvention.

• Derek Szeto, CEO, Wirkin, Founder, RedFlagDeals, JA Alumni. Venue Sponsor: “Each of this year’s honorees has experienced tremendous success because of their tenacity, creativity and ability to think big. They’re true role models for our students.” said Jane Eisbrenner, President & CEO, JA Central Ontario. The event was emceed by Bruce Sellery, author, columnist and TV personality on CBC’s The Exchange.

13 27 th Annual Governors’ Dinner

Amount Raised: $503,000

Date: November 24, 2015

Where: Metro Toronto Convention Centre

Presenting Sponsors: Tangerine & Manulife

Special Thanks to our emcee David Chilton, author and former television personality of CBC’s Dragons’ Den, guest speakers Brian Lang, President of MasterCard Canada, Jacquelyn Cyr, Co-Founder of R3VOLVE and JA Alumni, and James Sun, CO-Founder/CEO of Revlo and JA Alumni.

SAVE THE DATE:

28th Annual Governors’ Dinner on November 22, 2016

14 JA Central Ontario 29th Annual Golf Classic

Thank you to everyone who came out to support JA Central Amount Raised: $124,500 Ontario at the 29th Annual Golf Classic at Copper Creek Golf Club in Kleinburg. It was a great day for golf! A special thank Date: June 9, 2016 you to all of our sponsors: KPMG, Ashlar Urban Realty, Colliers, Where: Copper Creek Golf Club TMX Group, Grant Thornton LLP and TATA Consultancy Foursomes: 36 Services. Presenting Sponsor: SAVE THE DATE: 30th Annual JA Central Ontario Golf Classic!

When: Monday, June 12, 2017

Where: Mississaugua Golf & Country Club

22nd Annual Goodfellow Memorial Squash Tournament

Presenting Sponsor:

Since 1995, this annual squash tournament has raised over $550,000. This year’s tournament, held March 30-31st at the Toronto Athletic Club, drew 75 athletes and raised $22,391. Special thanks to Kelly Stewart, Josh McDonald, and Andrew McDougall, for organizing this year’s event. Continued gratitude to Event Founder Roy Fraser and long-time supporter David Ruston.

Thank you to Cadillac Fairview and other event sponsors SIM IP Practice, Deloitte, and Ferguson + Mak LLP. 15 Auditor Statement Report of the Independent Auditor on the Summary Financial Statements To the Members of Junior Achievement of Central Ontario, The accompanying summary financial statements, which comprise the summary statement of financial position as at June 30, 2016, and the summary statement of operations for the year then ended and related note, are derived from the audited financial statements of Junior Achievement of Central Ontario, for the year ended June 30, 2016. We expressed an unmodified audit opinion on those financial statements in our report dated Date of Approval. Those financial statements, and the summary financial statements, do not reflect the effects of events that occurred subsequent to the date of our report on those financial statements. The summary financial statements do not contain all the disclosures required by Canadian Accounting Standards for Not- For-Profit Organizations. Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of Junior Achievement of Central Ontario. Management's Responsibility for the Summary Financial Statements Management is responsible for the preparation of the summary financial statements in accordance with Note 1. Auditor's Responsibility Our responsibility is to express an opinion on the summary financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standard (CAS) 810, "Engagement to Report on Summary Financial Statements". Opinion In our opinion, the summary financial statements derived from the audited financial statements of the Junior Achievement of Central Ontario for the year ended June 30, 2016, are a fair summary of those financial statements in accordance with the basis disclosed in Note 1.

Chartered Accountants, Licensed Public Accountants August 30, 2016 Toronto, Ontario Volunteer Impact = Significant Savings

3,366 Volunteers dedicated over 51,000 hours to give 51,200 students the opportunity to participate in a JA program.

Collectively, JA Central Ontario volunteers dedicated enough hours that would equal 26 full time employees

Staff Hours Volunteer Hours for one year.

16 Our Financials

SUMMARY STATEMENT OF FINANCIAL POSITION as of June 30, 2016

2016 2015 ASSETS Cash and Investments $ 1,9 07,870 $ 1,764,798 NOTE 1: JA Central Ontario has Accounts Receivable and Other Assets 371,161 348,799 prepared these summary financial Total Assets $ 2,279,031 $ 2,113,596 statements to be included as part of its annual report. These summary LIABILITIES Accounts Payable and Accrued Liabilities 161,156 157,727 financial statements present the Deferred Revenue 100,875 53,927 same information as the audited Total Liabilities $ 262,031 $ 211,652 financial statements, except for the full statements of financial position NET ASSETS and operations, and the statement of Unrestricted 617,000 501,944 changes in net assets, the statement of Endowment Fund 500,000 500,000 cash flows and the notes to the audited Internally Restricted 900,000 900,000 financial statements. Complete audited Total Net Assets $ 2,017,000 $ 1,901,944 financial statements for the year ended Total Liabilities and Net Assets $ 2,279,031 $ 2,113,596 June 30, 2016 are available upon request at www.jacanada.org/annual- SUMMARY STATEMENT OF reports. OPERATIONS for the year ended June 30, 2016

2016 2015 NOTE 2 - excerpt from Note 2(b) of REVENUES the Notes to the Audited Financial Program Designated Contributions $ 1,489,090 $ 1,572,068 Statements Donations and other Contributions 159,405 152,318 The Corporation would not be able to Special Events 668,311 599,468 carry out its administrative activities Interest and Other Income 48,318 18,518 without the services of its volunteers Total Revenues $ 2,365,124 $ 2,342,372 who donate a considerable number of hours, including business professionals EXPENSES who directly deliver classroom Program and Materials (Note 2) 991,975 931,857 programs as instructors. Because of Special Events 206,650 197,208 Resource Development Personnel 280,395 330,715 the difficulty in determining their fair Administrative Personnel 409,795 395,155 value, the value of these contributed Office and General 175,967 170,964 services are not recognized in these Facilities and Amortization 128,775 152,332 financial statements. Total Expenses $ 2,193,557 $ 2,178,231

EXCESS OF REVENUES OVER 171,567 164,141 EXPENSES BEFORE UNDERNOTED ITEM Unrealized Gain (loss) on Investments (56,511) (53,945) Excess of Revenues over Expenses $ 115,056 $ 110,196

17 Board of Directors Sally An John Duda Partner, Audit & Assurance Group Senior VP, Eastern Canada & National Accounts PwC Colliers International

Linda Antoniuk Michael Leroux Leadership Volunteer VP, Credit Risk Management CIBC Andrew Aziz Partner Chris Manning Osler, Hoskin & Harcourt LLP National VP, Mid-Market Commercial Banking Paul Beauchesne Scotiabank National Director, Commercial Banking Process & Platform Management Cathy MacDonald Bank of Montreal EVP Information Technology and Operations Xplornet Communications Inc. Dave Borrelli Area VP, Commercial Sales Canada Kevin Nichols Salesforce VP, Finance HSBC Bank Canada Stephanie Brown VP, Finance, Systems Strategy and Catherine Perry-Robertson Implementation VP, Enterprise Channel TD Bank Coupa

Larry Chan Nadira Persaud Partner Superintendent of Education Rosenzweig & Co. Toronto District School Board

Dave Charleson Hitesh Peshavaria VP, Energy Supply & Customer Care Partner Enbridge Gas Distribution Inc. Deloitte

Chris Cornell Richard Skippon Partner, Audit Financial Services Partner KPMG LLP Ernst and Young LLP

Denise Costa Jon Taylor Regional VP, Investments Partner RBC Govan Brown & Associates Ltd.

18 Board of Governors Jeff Allsop Jean R. Desgagné Patrick Lundy EVP & Managing Director, President & CEO President & CEO Head of Global Banking Canada Global Enterprise Services, TMX Zurich Canada HSBC Dave Drury Katherine MacMillan Robert Baillie General Manager President & CEO President & CEO IBM Canada International Financial Data Services State Street Canada Christina Eaton Darren Myers Doug Bennett Charitable Volunteer EVP & CFO Principal, Operations & Service Celestica Ryan Fagan Edward Jones EVP, Ontario & Atlantic Andrew O’Born Sonia Boyle Altus Group VP, Customer Relations VP, Human Resources Roy Fraser The Printing House GE Canada Associate Partner, Ian Portsmouth Marketplace Services A. Gianluca Cairo Group Publisher, Business Deloitte Chief of Staff, Public Service and Rogers Publishing Ltd. Procurement Alex Giosa Russel Robertson Government of Canada Country Senior Officer EVP & Head, Anti-Money Nokia Canada John Chippindale Laundering BMO Financial Group Vice Chairman Nick Kanji Hub International HKMB President & CEO David Ruston Sutter Hill Development Corporation Partner/Patent Agent Jamie Collins Sim & McBurney VP, North American Phone Channel Edward Keohane TD Bank Financial Group SVP, Wealth Management Linda Smart Client Solutions VP, Commercial Banking - Ontario Ian Cunningham Scotiabank National Bank of Canada COO Tangerine Brad King Jason Storah VP & General Manager, SVP Rino D’Onofrio Central Sales Operation Aviva Canada President & CEO, Xerox Canada Ltd. Canadian Insurance Business Benjamin Tal RBC Insurance Rhonda Klosler Deputy Chief Economist Partner & COO CIBC Dennis Darby Collins Barrow Toronto LLP CEO Jay Wiltshire Ontario Pharmacists’ Association Tim Lefebvre VP Managing Director Greystone Managed Investments Inc. Stuart Davis Accenture Chief Anti-Money Laundering Officer Mike Zahra BMO Financial Group Randy Lenaghan President SVP, Sales Staples Advantage Canada SAP 19 My JA Journey

“JA has been so integral in shaping me into the person I am today.” -Alex Dawson, JA Alumni

Hello, my name is Alex Dawson and I am a recent alumni of JA Central Ontario’s Company Program. As I prepare to leave Toronto to pursue my first year of chemistry studies at university, I find myself feeling nostalgic about my secondary school years. Perhaps the most formative experiences were the three years I spent as a Junior Achievement Achiever.

I came to JA an introverted and quiet grade nine student with no awareness of who I was or what my future held. I never felt like I had any real ambition or passion in anything but academics. However, everything changed for me when one of my ambitious friends introduced me to an opportunity to enter the business world with no risk of serious consequence. By throwing myself headfirst into the high energy world of running a startup company, I developed stronger social skills, learned to manage my time more effectively and developed the ability to be adaptable to any situation.

Over my first two years, the adversity of a failed sale, awkward handshake or verbal stumble made for a very stressful situation. By persevering through moments like these, in learning that failure was not something to fear but rather embrace, I truly grew as an individual. In my final year I decided to do something I’d never done before in my life - put myself in a leadership position. I ran for and became President of my company, an accomplishment that both terrified and excited me. My fear of public speaking is still an issue I struggle with although I am making progress in the right direction.

Every facet of Company Program sets Achievers up to succeed in all aspects of their lives. The opportunities available for self-growth, networking, and enriching the future make Company Program something I encourage every student, no matter what their area of study is, to participate in. I can honestly say that JA has changed my life for the better, and I will continue my involvement as an Alumni throughout the rest of my life.

20 Funding the Future Our programs are provided (subject to available funding*) at no charge to schools, students or parents. Surprisingly, JA Central Ontario does not receive funding from the federal or municipal government.

Federal or Municipal Schools Students Government

$0 $0 $0

* Gratefully, our funding comes from corporations, foundations and individuals who support our mandate to provide elementary, middle, and secondary school students with the financial understanding, workplace readiness and entrepreneurial skills they need to succeed in the local, national and global economy.

$ + = 126 Funding 3,366 51,224 20,488 Partners Volunteers Students Students Reached Waitlisted

How you can help Support Programs – Your company can provide funds for in-classroom, day programs to elementary and middle school students with introduction of financial literacy, work readiness and entrepreneurship curriculum.

Sponsorship Opportunities – Corporate event sponsorships provide excellent exposure and affiliation of your brand to middle and secondary school students, and top corporate financial and entrepreneurial partners. Last year, JA Central Ontario hosted 6 events with 23 sponsorship opportunities and this year there will be even more opportunities.

Individual Donations - your personal donation, in any amount, goes a long way towards building a better future for Central Ontario youth. Annual, monthly, United Way and one-time donation options are available at www.jacanada. org/donate-ja-central-ontario.

For more information, please contact Jo-Ann DeLuca, Vice President, Revenue Development at [email protected]. Photo Credit (front & back cover): Danielle Hogan

JA Central Ontario A Member of JA Canada

facebook.com/JACentralON

133 Richmond Street West, Suite 405, Toronto, ON, M5H 2L3 twitter.com/JACentralON Phone: 416‒360‒5252 Charitable Registration: 10755 4297 RR0001 www.jacanada.org/central-ontario