Osteoporosis Canada
 

Our Financials

YEAR ENDED MARCH 31, 2021

Osteoporosis Canada’s Program Fund, where revenue and expenses related to education advocacy and awareness, administration and fundraising are accounted, had a fiscal year surplus of $40,018. The Program Fund balance at fiscal year-end of $774,134 which includes a transfer of $175,000 to the Reserve Fund. The $175,000 was transferred to earn maximum interest, as the funds are not required until November 2022 for the planned in-person Canadian Musculoskeletal Conference (CMC) and at that time will be transferred back to the Program Fund to cover the CMC costs.

The Reserve Fund which was established to provide some security to manage unforeseen circumstances involving a revenue shortfall or unanticipated expenses, had a fiscal year-end balance of $1,270,961. This represents an unrealized gain on investments of over $200,000 due to the COVID-19 pandemic market adjustments and a transfer of $175,000 from the Program fund.

The Research Fund which provides the financial resources for scientific research projects selected by the Scientific Advisory Council of Osteoporosis Canada, ended the fiscal year with a balance of $1,889,834, which includes an unrealized gain of over $380,000, again primarily due to the COVID-19 pandemic investment market impacts.

The bequest fund which represents funds donated for specific projects had no activity ending the fiscal year as it began at $3,771.

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 continued invaluable contributions to the success of the organization especially during the challenges and the unknowns of the COVID-19 Pandemic.

Sincerely,

Jeannette Briggs

Treasurer, National Board of Directors
*Ontario Ministry, Federal Government & Other Provincial funding
** GAMING, COMMUNITY GROUPS & INTEREST/DIVIDENDS

PROGRAM FUND REVENUES

PROGRAM FUND EXPENSES

2021 Financial Statement Cover

Current Financial Statement

Osteoporosis Canada is committed to being accountable, fiscally responsible and transparent to our supporters, donors and volunteers.

© Osteoporosis Canada, 2021
Charitable Registration No. 89551 0931 RR 0001