Greenbelt by Numbers. Credit: Touchwood Design
We take financial duties seriously and as a charity we are diligent in spending our donations and contributions.
So we aim for, and are proud of, keeping our administrative outlays to less than six per cent of expenses. We do this with tight cost-controls, exhausting volunteer and job-creation positions, applying multiple accounting reins, and by always negotiating a substantial charitable discount.
But our fiscal responsibility goes beyond the income statement. Our assets are carefully managed, led by outside investment advisors who have been quite cognizant of the risks in the markets. As a result, we’re one of only a handful of foundations that didn’t lose money during the financial crisis. In fact, we made four per cent on our savings during those troubling times.
Since we got going, our books have been audited by KPMG and we have had clean audits by the Canada Revenue Agency. In turn, we audit our grantees, through third-party CAs and by reviewing their expenses and financial transaction directly.
As a Foundation and Fund, we are honoured with the contributions and donations from our supporters. In turn, we spend responsibly, manage savings diligently, publish our audits on-line, and never forget that we are held to higher standard.