During the past fiscal year, Osteoporosis Canada had Program Fund revenues of $7,076,945. The Program Fund financial operations yielded a surplus of $50,044. The Program Fund balance at fiscal yearend is $679,760.
The Reserve fund, excess of revenues over expenditures of $70,017, ended the fiscal year at $848,689.
The Designated Bequest fund, which represents funds donated for specific activities specified by the donor, ended the fiscal year with a balance of $22,067.
The Research Fund, which is administered by the Finance and Audit Committee of the Board of Directors and is financially segregated from the Program Fund, ended the fiscal year with a balance of $1,724,217. The Research Fund provides the financial resources for scientific research projects selected by the Scientific Advisory Council of Osteoporosis Canada.
On behalf of the Board of Directors, I would like to take this opportunity to thank the volunteers, staff and management of Osteoporosis Canada for their invaluable contribution to the success of our organization.
Ian MacNair
Treasurer, National Board of Directors