STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2008 REVENUES 2008 2007 Donations Canadian charities Goods and Services Tax Rebates Net fund raising activities Bequests Interest Loss on Sale of Investments $ 1,146,065 113,854 - 31,176 - 8,674 (5,189) 1,294,580 $1,256,784 92,770 15,670 9,783 32,909 1,655 - 1,409,535 EXPENDITURES Amortization Automotive Bank charges Canada programs Employee benefits Insurance Newsletters Office Professional fees Project Telephone Training Travel Wages and contract services $ 6,674 13,509 6,595 4,762 7,970 2,160 17,681 32,038 5,250 292,728 4,611 1,550 143,536 151,039 690,076 $3,474 10,978 5,144 8,331 12,037 3,502 29,823 41,083 2,862 281,442 7,095 2,958 129,582 136,685 674,996 SURPLUS BEFORE TANSFERS TRANSFERS TO FOREIGN ORGANIZATIONS NET (DEFICIT) SURPLUS FOR THE YEAR $604,505 676,695 (72,191) $734,539 641,802 92,737 Fred Cappuccino's note on the Financial Statement above: The item for travel, $143,536 is not Child Haven money. This is monies paid by volunteer Interns for their own travel. It is processed through Child Haven so they can receive a tax receipt. Three of Bonnie's four trips are paid by friends. One of her trips is paid by Child Haven. Please note also that administrative costs for our U.S. funds (below) are zero, because it is all done in Maxville.