Finance

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED

December 31, 2013

Fred Cappuccino’s Note on the 2013 Audited Statement:

* Most of the amount for travel ($81,074) is money our Interns have spent for their own travel to and from our projects. It goes through our books so the Interns can receive a tax receipt.

* 2013 shows a surplus ($253,689). This is not extra money, but comes about because of income December being spent in January - both at the beginning of 2013 and the end of 2013. Actually 2012 and 2011 showed deficits for the same reason. They were not "real" deficits.

* "Program" includes the following:

Canadian programs
$9,485
Projects
$209,525
Transfers to Foreign Organizations (Child Haven overseas)
$747,525
Newsletter (Revenue Canada considers this as program under "education")
$39,724
Total:
$1,006,259
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