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JACO LinkedIn ANNUAL REPORT 2014 www.jacanada.org/central-ontario
Charitable Registration No: RR 2 Junior achievement of central ontario WHAT’S INSIDE corporate partners. the demonstrated leadership of our volunteers, donors and the students whoparticipate inour programs as it does about message that says as much about theleadership potential of This year’s annual reportfocuses onGreat Leaders. It’s a succeed intheglobal economy. prepare young people to mission isto inspireand Central Ontario’s Achievement of Junior WHAT WE DO On theCover: intheJAEconomics For Participants Successprogram, York. Grade 8,Dublin HeightsSchool,North Volunteer Recognition 8 Introduction 1Leadership Message 2 Programs 3CompanyProgram 4Fundraisers 5Bold Thinkers InspiringLeaders6 Auditor’s 15FinancialStatements Report 16 2,019 deliver PROGRAMS
In fiscal 2014,great leadership inspired usto: IndividualDonors9 Collaborate volunteers and 3,830 136 SUPPORTERS
corporate Corporate Donors10 AdditionalDonors12Boards of Directors &Governors 14
FINANCIAL FINANCIAL 53,092 LITERACY Day and Company students inour Inspire programs Entrepreneurship schools offered 31 newschools 487 our programs including including Act Readiness Work Work
Work Readiness What do great leaders do?
1 annual report 2014
Students learn by example, so when they see seasoned business people take bold steps, demonstrate gutsy leadership and take time out to give back to their community, they are inspired to do the same.
We help lay the foundation of our country’s leadership by providing students in Grades 4 through 12 with the practical and leadership skills they will need to take charge of their financial future.
Inspiring great leaders is what Junior Achievement of Central Ontario (JACO) is all about.
Pictured: Som Seif, one of JACO’s inaugural Bold Thinkers Inspiring Leaders honourees.
Leadership Message
Investing in Canada’s future
Larry Chan Jane Eisbrenner Chair, Board of Directors President & CEO
2 It’s always inspirational to be surrounded by people who excel at Last year, 1,095 classrooms in the GTA were on our waitlist, what they do, people who are energized by trying new things and are representing some 28,470 students. We are determined to bridge 100 per cent committed to their dreams. this gap by building relationships with an even larger network of volunteers, business leaders, donors and partners. As Canadians, Whether they’re corporate executives who have worked their way we all have a vested interest in working together to groom the next to the top or entrepreneurs who have persevered through tough generation of leaders. times before reaching the pinnacle, leadership requires vision and determination. There is certainly more work to do, and we’re up to the challenge. JACO has deep roots, strong allies, a committed group of Directors We saw evidence of great leadership at our first-ever Bold Thinkers and Governors, as well as a hard-working staff team. A warm thank Inspiring Leaders event in February. The energy of our five honourees you to each and every one of you for your hard work and leadership and Company Program students filled the room, and what a pleasure last year. We could not have come as far as we have without to see both up-and-coming and more seasoned leaders share their your support. experiences, each an inspiration to the other. Junior achievement of central ontario central of achievement Junior
The Bold Thinkers gathering conveyed a powerful message about the Sincerely, importance of passing the leadership lessons of today on to the next generation of leaders. It also reinforced our strong desire to address the capacity issues that continue to hold back our progress when it comes to our ability to offer JACO programs to even more students.
What’s absolutely clear is that leaders in schools across the GTA Larry Chan Jane Eisbrenner have heard our message. They understand the importance of Chair, Fiscal 2014 Board of Directors President & CEO teaching financial literacy. They realize the many benefits that come from preparing students to work in the global economy. And they are looking to us to do more.
Junior Achievement of Central Ontario has been accredited under Imagine Canada’s national Standards Program. With this accomplishment, we join a growing community of more than 100 organizations dedicated to operational excellence. The Standards Program is a Canada-wide set of shared standards for charities and non-profits designed to strengthen practices in five fundamental areas: board governance; financial accountability and transparency; fundraising; staff management; and volunteer involvement. We are build proud to qualify for this prestigious designation. prepare
Our Programs Investing in the next generation of business leaders
JACO leads the way in helping prepare students in grades 4 through 12 get ready for the world of work. With 11 programs in all – and over 410,000 student contact hours last year – JACO is highly focused on providing students 3 with the work readiness, entrepreneurship and financial literacy skills they will
need to succeed in the global economy. The following is a sample of our most annual report 2014 popular programs:
MORE THAN MONEY STRONGER TOGETHER: DOLLARS WITH SENSE GRADES 4–6 DIVERSITY IN ACTION GRADE 7 This new program – part of a global initiative GRADE 6 This program delivers the basics of financial with HSBC – teaches primary school Students explore the meaning and value literacy. Students are introduced to the students about earning, spending, sharing of cultural and ethnic diversity and how it principles of budgeting, credit, saving and and saving money and starts to prepare contributes to improved morale, creativity, investing, as well as financial and career them for the world of work. teamwork and productivity, both in school goal-setting. and in the workplace.
ECONOMICS FOR SUCCESS SKILLS SUCCESS GRADE 8 GRADES 9–12 VOLUNTEERS SPEnT Taking a hands-on approach, students learn Introducing students to four essential how to live within their means, the skills employability skills – communication, required for a successful career and the collaboration, problem-solving and life- 53,000 long-term economic consequences of not long learning – Success Skills is offered in completing high school. partnership with Accenture. Hours In class delivering jaco’s programs For more information about JACO’s one-day programs, visit jacan.org/programs. achieve 4 Junior achievement of central ontario • • • Here aresomehighlights from 2014: and inthat timetens of thousands of students have participated. The Company Program has beenoffered for more than 40 years, the marketplace. discover therisks and rewards of bringing anewbusiness to October through April to solve real business problems as they distribution and sales. Students meet for three hours weekly from development and creating amission statement to marketing, through thechallenges of running abusiness, from product has acorporate sponsor that provides mentors to guide students produce and sell aproduct orservice. Each Company Program understand how to establish and operate acompany that will Volunteers from thecorporate community helpstudents It’s life changing. The Company Program is JACO’s flagship program. It’s intensive. leadership Honouring student Comp O’Leary Exchange onJune 4,2014. Company of the Year –was interviewed onCBC’s TheLang & and thestudent President of Sparq –JACentral Ontario’s Cameron Perry, a17-year-old highschool student in Toronto hosted by Bank of Montreal. Association (DSA) Student Management Training event, 300 student executives participated intheDirect Sellers ($10,000 more than last year). 38 student companies generated over $96,000inrevenue any P r ogr am the Caribbean. approximately 75studentsfrom Central America,SouthCanadaand in Mexico. The conference included representatives from over 20countriesand at theJuniorAchievement AmericasRegion Companyofthe Year Competition DoTs, JACO CompanyProgram ofthe Year 2013,wasselectedtorepresent Canada Compe D o T S flies high a t i t ion in M Training event inNovember 2013. Company Program students gathered at BMOInstitute for Learning for the Student Management t Company of t exi c o “ “ – – it brings out thebest in you.” and everystudent whojoins theprogram; what Junior Achievement does for each and Iaccomplished my goal. That is finalists for theJA Company Awards, determined to beoneof theeight beginning of thesecond year, Iwas well as become agreat leader. At the improve my communication skills, as step outside of my comfort zone and Junior Achievement has allowed meto Achievement.” my amazing experiences with Junior and a young entrepreneur because of I have become arisk-taker, dream chaser Ashley Hyman,age 18 Selina McCallum,age 17 he Y
ear
Fundraisers lead Raising the bar on financial literacy JACO shifted into fundraising high gear last year, raising an unprecedented $603,000 through our four signature fundraising events.
5 annual report 2014
25th Annual 13th Annual 20th Annual Dennis 27th Annual JACO Governors’ Dinner Stock Market Goodfellow Golf Classic Challenge Memorial Squash A major event in the JACO calendar, Thirty-six eager foursomes teed the Governors’ Dinner was held Marsh & McLellan Companies Tournament off at the championship Copper Creek Golf Club in Kleinburg as at the Metro Toronto Convention sponsored over 25 high school The 20th annual tournament was a part of the 27th annual Golf Classic, Centre, featuring Amanda Lang, teams, allowing them to compete smashing success thanks in part to presented by KPMG. In addition to a Senior Business Correspondent to accumulate the highest net long-time JACO partner and host, Hole-In-One competition sponsored for CBC News, as emcee. Guest worth over 60 simulated trading Toronto Athletic Club. Participants by IBM, the day included a silent speakers included Bruce Poon Tip, days. Starting with $500,000 in competed in both singles and auction and raffle. Many thanks Founder of G Adventures, and Bruce trading dollars, each team invested doubles matches. Many thanks to our other Sponsors, Axxiome, Croxon, Co-founder of Lavalife and during 60-second trading days and to Title Sponsor Cadillac Fairview, Salesforce.com Foundation, Colliers a former investor on Dragons’ Den. competed fiercely for the top spot. In and to Sponors Dundee Wealth International and TATA Consultancy A total of 51 corporations and more the evening, companies paid to play. Management, Sim & McBurney, Services. than 120 Junior Achievers joined Held at the Toronto Stock Exchange, Scotiabank, Hillside Communications us to celebrate. A big thanks to our the all-day affair was also sponsored and Deloitte. Special thanks to Roy Co-Presenting Sponsors, Manulife by RBC Capital Markets, State Street Fraser for leading this event since Financial and NorthgateArinso. and Equifax. its inception. Thanks also to our Emcee Sponsor SAP and our Student Etiquette $ $ $ Raised: 55,400 Raised: 27,500 Raised: 104,600 Sponsor Aviva. Presenting Sponsor: Presenting Sponsor: Presenting Sponsor: $ TMX Group Inc. Cadillac Fairview KPMG Raised: 415,500 When: February 27, 2014 When: April 23 and 24, 2014 When: June 12, 2014 Presenting Sponsors: Manulife Financial and NorthgateArinso Human Resources When: November 19, 2013
SAVE THE DATE! Join us at the 28th Annual JACO Golf Classic on June 11, 2015. SAVE THE DATE! Join us at the 26th Annual Governors’ Dinner November 18, 2014 at the Metro Toronto Convention Centre. www.jacogovernorsdinner.com engage 6 Junior achievement of central ontario highly-respected role models for young Ontarians. They included: the recipients are all at thetop of theirgame as and serve Celebrated for theirinnovative spirit and risk-taking approach, Bold Thinkers InspiringLeaders event. leadership can be,honouring five business leaders at theinaugural In February, JACO demonstrated how truly inspirational great Business leaders share thebenefit of their experience. They came, theysaw, they inspired • • • • • Teresa Cascioli,former Chair of Lakeport Brewing Income Trust GlobalHead, Vertical Strategy Jordan Banks,Managing Director of Facebook Canada and Holdings and Wind Mobile Anthony Lacavera, Founder, Chairman and CEO of Globalive Som Seif, President and CEO of Purpose Investments Bruce Poon Tip , Founder and President of GAdventures
Achievement that ultimately allow people to dothat.” always achieve more,” said Som Seif. “It’s programs such as Junior today, is theability to dream and theability to think that Ican “What’s made mesuccessful, and brought meto where Iam share theirown business ideas and learn from theirexperience. opportunity to rub shoulders with honourees, hear theirstories, the event provided 20JACO Company Program students with the Held at Corus Entertainment’s headquarters indowntown Toronto, will need inorder to thrive inaglobal economy.” promote theskills, understanding and perspectives that students CEO, Junior Achievement of Central Ontario. “Those recognized truly head with industry giants,” said JaneEisbrenner, President and risks, challenged conventions insomecases, and, gone head-to- “Our honourees are examples of business leaders whohave taken 7 annual report 2014 Volunteer Recognition
Leadership takes inspiration, motivation…and coordination Corporate Coordinators play a key role in enabling JACO to bring real-world experience into students’ lives.
How many people do you know who can inspire over 3,800 volunteers Corporate Coordinators motivate employees in their companies, to invest 53,000 hours of their time, talent, experience and their encouraging them to volunteer for JA programs. They ensure that enthusiasm in order to teach the leaders of tomorrow about the real volunteers are ready when it’s their turn to deliver programs, and world of business? also provide invaluable support to the JACO team.
We know plenty of them. That’s a good thing for our programs and the In recognition of their contribution to JACO, we thank the following 8 students who enroll in them. individuals for their long-standing support.
20 12 17 YEARS YEARS YEARS
Murray Dowey Lois Edwards Diane Grunwell Junior achievement of central ontario central of achievement Junior Senior Specialist, Personal Markets, Senior Administrator, Scotiabank Manager, National Employee Giving BMO Campaign, RBC
“My role as BMO JA coordinator has not “I have been involved with JA from day one of “Involvement with Junior Achievement is just only allowed me and hundreds of BMO our partnership. As a planner and recruiter, one example of how RBC employees can employees the chance to give back to the I attribute the success of the program to my make a difference in the community. By community, but has also been the impetus peers and most of all these children, who are delivering programs to youth – our future to my developing so many new contacts our future of tomorrow.” leaders – not only do they help the students and friends within BMO.” understand the importance of diversity and staying in school, but employees reap many personal benefits too. It’s truly a ‘win-win’ for everyone involved.” rally Individual donors
Investing in great leaders Through their generous support, our Individual Donors helped to raise $140,000, making it possible for over 3,500 students to participate in our Day and Company programs last year.
Mark Aboud Roberta Hague Sandy Steeves Mike Andrade Jan Harkness Matthew Sturrock Linda Antoniuk Chris Herrndorf Angelique Styliadis Andrée Appleton Gordon Ho Sutter Hill Group Ariane Arend Evan Hughes Jon Taylor Alexandra Babcock Jennifer James Pafoua Vang 9 Sreedhar Bhagavatheeswaran JM Family Enterprises, Inc. William and Kathy Vastis Brian Jones Thomas Wen These donations are Jason Body annual report 2014 Nikhil Bimbrahw Katerinakis Family Richard White part of our ongoing R.O.I. Tracey Bissett Ed and Michele Keohane Jos Wintermans Campaign, which to date David Bruce Amanda Lang Brenda and Robert Wolff Michelle Butler Mary Lavis-Todd Michael Zahra has raised $900,000 of Olga Bylaard Jason Leong Andrew W. Zimakas its $2 million goal. Mark Cammisuli Tania Litsos Brenda Zinkiewich Larry and Sabrina Chan Cathy MacDonald Anonymous (20) Kelvin Chan Katherine MacMillan Samir Chhelavda Heather McCallum Thank you to those who HELP JACO Joe Chidley Ronald McInnis bought auction items and Alexandria Chimienti Terri McKinnon Piggy Banks at our special REACH John Chippindale Ian McLaren events and donated in our MORE STUDENTS Jennifer Chown Dino Melchior May Text Donation campaign. Bruce Clark Bernard Naumann The monies raised through James M. Collins Andrew Newman these efforts funded free Lisa J. Colnett Edward Opitz programs for over 1,150 PROVIDE THE Renata de Oliveira Joseph Palermo students! OPPORTUNITY Jo-Ann DeLuca Dhruv Patel TO SUCCEED Diane Dobson Tiffany Patterson We appreciate all of our Scott Dodd Christine Pearce corporate volunteers who Rino and Vivian D’Onofrio Ledja Peci applied for their company’s David Drury Catherine Perry-Robertson Corporate Matching program LEAVE A LASTING John Duda Bruce Poon Tip based on their volunteer hours IMPACT Christina Eaton Marian Porchak with JACO. ON FUTURE GENERATIONS Margaret Egan Courtney Pratt Jane Eisbrenner Marcy Radocovich Employees of Staples David Rae Advantage Canada Martin Reid (parking spot raffle) Russ Robertson Roy Fraser Demetria Ruggiero Barbera Endowment Robert Gallant David Ruston and Ella The Gary & Joanne Reamey Family Endowment Mary Gendron Wiustchariuk Created last year, investment income from this generous Joylan Gonsalves Sadler Fund at the Toronto gift provides an important source of ongoing funding for Dennis Goodfellow Memorial Community Foundation JACO programs. Squash Tournament Rocco Schiavone Thomas Grace Linda Smart Aresh Gutta Brenda Simpson 10 Junior achievement of central ontario CO Over $100,000 to anextraordinary show of support. Corporate donations of $100,000, volunteer hours and students reached –it all adds up Corporate Canada leads theway RPO R ATE DONO RS VOLUNTEERS PROVIDED 438 224 328 419 CLASSROOMS 140 158 223 226 VISITED 4,108 5,923 3,765 5,947 students IMPACTED Financial support from a broad community of corporations allows JACO to invest in the leaders of tomorrow.
Over $50,000
11 annual report 2014
$25,000–$49,999
$15,000–$24,999 12 Junior achievement of central ontario R DONO ADDITIONAL Hillsdale Investment Management Incorporated Harbord Collegiate Institute Greystone Managed Investments Incorporated GreedyMortgage.com Govan Brown Goldman Sachs Canada Incorporated Gen Re G Adventures Fox’s Bakery &Deli Federal Express Canada Limited Economical Insurance E.W. Bickle Foundation Durham Community Foundation Direct Sellers Association of Canada DBRS Cumming &Partners CPT Global Limited Colliers International Cloudware Connections Incorporated CI Financial Chubb Insurance Company of Canada CGI Group Incorporated CENTURY 21B.J.Roth Realty Limited Central 1Credit Union Canadian SecuritiesInstitute Canada Life Cambridge Group of Clubs Caldwell SecuritiesLimited Business Development Bank of Canada Broadridge Financial Solutions, (Canada) Incorporated Big Brothers Big Sisters of Peel BDO Canada LLP Baxter Corporation Axxiome Canada Limited Aviva Canada Incorporated Aon plc American Express Canada CanadaAltus Group Allstate Insurance Company of Canada Actuarial Foundation of Canada Accenture A.W.B. Charitable Foundation Anonymous (2) AND FOUNDATIONS ADDITIONAL CORPORATE DONORS and gifts in-kind, the following donors helped us to deliver onour mission. There are many ways to invest intheleaders of tomorrow. Thanks to theirfinancial support S Tangerine Bank Sutter Hill Management Corporation Sun Life Financial Incorporated Sim &McBurney SEI Investments Sears Canada Incorporated Sage Rotary Club of Whitby Sunrise Rotary Club of Mississauga West Rotary Club of Barrie Ronald Chisholm A. Limited Bank Rogers Reckitt Benckiser (Canada) Incorporated Bank Royal RBC RBC Insurance RBCDominion Securities RBC Capital Markets QX Technology Praxair Canada Incorporated Pope John Paul II Separate School Partners inCredit Incorporated Ontario TrilliumFoundation Ontario Romanian Canadian Association Ontario Pharmacists’ Association Oakville Community Foundation Northbridge Insurance Newmarket-Tay Power Distribution Limited National Bank of Canada Mosaic Sales Solutions Morgan Stanley Canada Limited Mizrahi Developments MasterCard Worldwide Master Canada Incorporated Marsh Canada Limited MutualLiberty Insurance Company Kuretzky Vassos Henderson LLP Knightsbridge Human Capital Solutions Kinross Gold Corporation Kimberly-Clark Corporation Investors Group Incorporated Investment Industry Regulatory Organization of Canada Intuit Incorporated Canada IFDS One TelecomHydro HollisWealth Hillside Media Communications Tata Consultancy Services Canada Incorporated Teknion Telus Communications Incorporated The Alexander and Bernice De Maio Foundation Fund The Cadillac Fairview Corporation Limited The DATA Group of Companies Thomas, Large & Singer Incorporated Towers Watson & Company THANK TransUnion Canada 13 TSX Incorporated
TSYS annual report 2014 Verax Solutions Corporation YOU! WestJet Airlines Limited Wildeboer Dellelce LLP Xerox Canada Limited It takes a village to raise a child and Xplornet Communications Incorporated Zuora a community to invest in their future. We are fortunate – and most grateful Gifts in Kind – for the support and contributions of our donors. All of you are making Blackberry an invaluable investment in the next BMO Financial Group Corus Entertainment generation of Canadian leadership. Daurio & Franklin LLP FunRaiser IBM Canada Limited Kerri Torrey Photography Osler, Hoskin & Harcourt LLP Porter Airlines Public Good Social Marketing Communications Seneca College Sodexo Canada Inc. Staples Advantage Canada TMX Group Toronto Athletic Club Videographers for Bold Thinkers Inspiring Leaders – Alex Narvaez and Lucius Dechausay Board of Board of Directors Governors
Linda Antoniuk Nick Katerinakis Mark Aboud Dan McCabe Associate Vice President, HR Vice President, Managing Director COO 16,575 Program Staff hours TD Bank Financial Group Chief Compliance Officer SAP Rogers Bank Goldman Sachs Canada Inc. 53,107 Volunteer hours Tim Ashby Ronald Alepian Ellen Moore Vice President, Sales Edward Bruce Keohane Vice President and Group President & CEO Equifax Canada Inc. Senior Vice President, Head, Corporate Marketing & Chubb Insurance Company 8,190 Admin Staff hours Ontario Region Communications of Canada Kevin Banderk Scotiabank TMX Group Vice President, Elizabeth Paras Lye 7,800 Fundraising Staff hours Mobility Marketing Cathy MacDonald John Chippindale Managing Director TELUS Executive Vice President, Vice Chairman Knightsbridge Human Capital Information Systems and Billing Hub International HKMB Solutions Larry Chan Xplornet Communications Inc. 14 Partner Jamie Collins Martin Reid Rosenzweig & Company Terri McKinnon Vice President, North American President Partner, Private Company Services Phone Channel Home Trust Company Samir Chhelavda PricewaterhouseCoopers LLP TD Canada Trust Assistant Controller Russel Robertson Enbridge Gas Distribution Inc. Dino Medves Anna Cvecich Executive Vice President and Head, Senior Vice President Vice President, Human Resources Anti-Money Laundering Joe Chidley CIBC GE Canada BMO Financial Group Senior Vice President Veritas Communications Inc. Brett Mooney Rino D’Onofrio David Ruston Vice President, American Express President and CEO, Partner/Patent Agent Lisa Colnett Amex Bank of Canada Canadian Insurance Business Sim & McBurney 27.0% – $732K 24.7% – $171K Charitable Volunteer RBC Insurance Catherine Perry-Robertson Linda Smart Len Dias National Vice President, Dennis Darby Vice President, Junior achievement of central ontario central of achievement Junior Chief Financial Officer Head of General Business Sales, CEO Commercial Banking –33.0 Ontario% DUCA Financial Services Credit Channels, and Ecosystems Ontario Pharmacists’ Association National Bank of Canada Union Ltd. SAP Canada Dave Drury Peter Snelling 5.0% John Duda Thomas Wen General Manager National Partner, Marketplace 62.7% SVP, Eastern Canada Vice President, IBM Canada Ltd. BDO Canada LLP 7.6% Colliers International Corporate Development 24.4% Celestica Christina Eaton Jon Taylor Simon Gilmartin Charitable Volunteer Partner 15.7% National Vice President, Rick White Govan Brown Construction Managers Group & Travel Sales Operations Officer Roy Fraser Distribution Wealth Management Durham District School Board Associate Partner, William Vastis RBC Insurance Marketplace Services Vice President, Director, Investment Deloitte Advisor & Portfolio Manager Direct Program Cost RBC Wealth Management Group Alex Giosa RBC Dominion Securities President Administration Cost Alcatel-Lucent Canada, Inc. Jay Wiltshire Vice President Fundraising Cost Roberta Hague Greystone Managed Investments Inc. Senior Vice President, Public, Volunteering Contribution – est. $25/hour Corporate & Government Affairs Mike Zahra Scotiabank President Staples Advantage Canada Nick Kanji President & CEO Andrew Zimakas Sutter Hill Development Corporation Chief Marketing Officer ING Direct Katherine MacMillan President & CEO International Financial Data Services 16,575 Program Staff hours The invaluable contribution of JACO volunteers 53,107 Volunteer hours
8,190 Admin Staff hours This year,
7,800 Fundraising Staff hours 16,575 Program Staff hours
53,107 Volunteer hours
8,190 16,575Admin Program Staff hours Staff hours 16,575 Program Staff hours 53,107 Volunteer hours 53,107 Volunteer3,830 hours 7,800 Fundraising8,190 Staff Admin hours Staff hourscorporate volunteers8,190 Admin Staff hours dedicated over 53,000 hours to ensuring that 53,092 students could particate 7,800 Fundraising Staff hoursin a Junior Achievement program.7,800 Fundraising This Staff hours 27.0% – $732K contribution of 24.7volunteer% – $171K time adds 15 Volunteer & JACO Staff significant value to the work of Junior Hours in 2013-14 Achievement of Central Ontario in reaching annual report 2014 33.0% and delivering programs in 487 schools.
5.0% 62.7% 7.6% 24.4% 15.7% Service Delivery 27.0% – $732K 24.7% – $171K 27.0% – $732K Costs in24.7 2013-14% – $171K27.0% – $732K 24.7% – $171K
33.0% 33.0% 33.0% Direct Program Cost Day Company Program Administration5.0% Cost 5.0% Program 5.0% 62.7% 62.7% 62.7% Fundraising Cost 7.6% 7.6% 24.4% 7.6% 24.4% 24.4% Volunteering Contribution – est. $25/hour 15.7% 15.7% 15.7%
Direct Program Cost One of Canada’s major banksDirect Programhas Cost estimated the value of staff volunteer Administration Cost Administration Cost Direct Program51,627 Cost services to be $25/hour. Without 1,465 Fundraising Cost the valuable contributionsFundraising of these Cost Administrationstudents Cost volunteers, the delivery cost of the students Volunteeringreached Contributio by n – est. $25/hour Day ProgramsVolunteering would increase Contributio by n – est. $25/hour reached by Fundraising3,582 Cost volunteers 33.0% and the delivery cost of the 247 volunteers Company Programs would increase Volunteering Contribution – est. $25/hour by 62.7%.
increase in the delivery cost 33.0% of programs without Volunteers 62.7%
DAY programs Company programs 16 Junior achievement of central ontario For the Year Ended June 30,2014 SUMMARY STATEMENT OF OPERATIONS statements inaccordance with Note 1. Management is responsible for thepreparation of thesummary financial Management’s FinancialStatements Responsibility fortheSummary audited financial statements of Junior Achievement of Central Ontario. the summary financial statements, therefore, is not a substitute for reading the by Canadian Accounting Standards for Not For Profit Organizations. Reading The summary financial statements donot contain all thedisclosures required occurred subsequent to thedate of our reportonthose financial statements. and thesummary financial statements, donot reflect theeffects of events that statements inour reportdated September 22,2014. Those financial statements, June 30,2014. We expressed anunmodified audit opinion onthose financial financial statements of Junior Achievement of Central Ontario, for the year ended operations for the year thenended and related note, are derived from theaudited statement of financial position as at June 30, 2014, and the summary statement of The accompanying summary financial statements, which comprise the summary Junior Achievement ofCentral Ontario To theMembers of REPORT OF THEINDEPENDENT AUDITOR ON THE SUMMARY FINANCIAL STATEMENTS INDEPENDENT AUDITOR’S REPORT Revenues Assets
Liabilities
Expenses Net Assets
Total Liabilities andNetAssets
Unrealized gain(loss) oninvestments Excess(Deficiency) of Revenues Expenses beforeover theUndernotedItem Excess(Deficiency) of Revenues over Expenses deliver classroom programs as instructors. Because of thedifficulty in determining their fair value,the value of these contributed services are not recognized inthese summary financial statements. The Corporation would not beable to carry out its administrative activities without theservices of its volunteers who donate aconsiderable number of hours, including business professionals whodirectly Note 2–excerpt from Note 2(b) oftheNotesto AuditedFinancialStatements and thenotes to the audited financial statements. Complete audited financial statements forthe year ended June 30,2014 are available upon request at www.jacentralontario.org. information as theaudited financial statements, except for the full statements of financial position and operations, and the statement of changes innet assets, the statement of cash flows Junior Achievement of Central Ontario has prepared these summary financial statements to beincluded as ofpart its annual report. These summary financial statements present the same Note 1 As of June 30,2014 SUMMARY STATEMENT OF FINANCIAL POSITION Donations and othercontributions Program designated contributions Accounts Receivable and OtherAssets Cash and Investments Special events Accounts Payable and Accrued Liabilities Interest and otherincome Deferred Revenue Program and materials (Note 2) Unrestricted Special events Endowment Fund Resource development personnel Internally Restricted Administrative personnel Office and general Leadership gifts campaign Facilities and amortization
Toronto, Ontario Approval Date Chartered Accountants, Licensed Public Accountants accordance with thebasis disclosed inNote 1. ended June 30,2014,are afair summary of those financial statements in financial statements of theJunior Achievement of Central Ontario for the year In our opinion, thesummary financial statements derived from theaudited Opinion Financial Statements”. with Canadian Auditing Standard (CAS)810,“Engagement to Report on Summary statements based onour procedures, which were conducted inaccordance Our responsibility is to express anopinion onthesummary financial Auditor’s Responsibility 1,272,808 $ 1,534,566 $ 1,927,938 $ 1,927,938 $ $
2,130,733 1,791,747 2,075,970
146,837 393,372 691,223 136,191 830,705 391,747 248,567 500,000 300,497 900,000 381,487 151,708 163,006
91,509 65,087 19,865 71,104 54,763 36,746 2014 2014 –
$ $ $ 1,454,840 $ 1,848,357 $ 1,848,357
200,745 393,517 661,807 85,688
62,430
148,118 952,802 300,239
500,000
1,700,239
79,618
1,353,252 2,233,936 2,303,613
253,165 271,302 385,148 163,786 197,792 (69,677) (11,573) (81,250) 900,000 18,132 2013 2013
28,470 STUDENTS waiting FOR OUR PROGRAMS
1,095 100%
552 30% 9% 9%
2013 2014 2013 2014 2013 2014 classrooms Increase STUDENTS on our waitlist in waitlist for our Reached in jaco programs catchment area
Partner with us today. Great leaders know that investing in people is a sound business investment.
Help us tap into Canada’s future potential by supporting Junior Achievement of Central Ontario. Find out how at www.jacentralontario.org Richmond Street West, Suite Toronto, ON M H L
Phone: - - Fax: - - facebook.com/JACentralON GREAT LEADERS twitter.com/JACentralON
JACO LinkedIn ANNUAL REPORT 2014 www.jacanada.org/central-ontario
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