Osteoporosis Canada’s Program Fund, which accounts for revenue and expenses related to education, advocacy and awareness, administration, and fundraising, had a year-end deficit of $69,574. The Program fund balance at fiscal year-end has a balance of $704,560.
The Reserve Fund, established to provide some mitigation against unforeseen circumstances involving a revenue shortfall or unanticipated expenses, had a fiscal year end balance of $1,316,681.
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 $1,964,401.
The Bequest Fund which is comprised of funds donated toward specific projects ended the fiscal year with a balance of $2,474.
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.