Audited Financials

//Audited Financials
Audited Financials 2017-06-08T16:19:39+00:00

The responsible and respectful use of financial gifts is our priority. Our accounting and fundraising policies meet the best practice standards as outlined by Imagine Canada and the Canada Revenue Agency. We keep our administrative costs below the non-profit standard – but not so low as to jeopardize the quality of service we deliver.

Annual Financial Statements – Catholic Family Service

Annual Financial Statements – UP Foundation

Our Commitment to Transparency – Commentary on Our Administrative Costs

  • The responsible and respectful use of financial gifts is a priority for the Unlocking Potential (UP) Foundation and Catholic Family Service.
  • It is a priority for both the Board of Directors of the UP Foundation and Catholic Family Service (CFS) as well as the CFS leadership team to ensure that our accounting and fundraising policies meet the best practices as outlined by Imagine Canada and the Canada Revenue Agency. An internal audit is completed annually to ensure fidelity to best practices.
  • In 2015, we adjusted how we report our administrative costs to better capture the financial relationship between Catholic Family Service and its fundraising arm, the UP Foundation.
  • We have two full time staff positions – in an organization of 100+ employees – whose roles are allocated to fundraising. These staff members raise funds via UP and CFS for all CFS programs. A portion of their salary is covered by each program offered by CFS (and therefore are not included in the UP audited financial statements).
  • See Note 7 in our 2015/2016 audited statements which explains the transfer payments to CFS. Rather than an administrative expense, these transfers reflect the distribution of funds raised by UP to support vulnerable individuals and families through CFS programs.
  • Accountability, trustworthiness, and integrity are the values that guide our work. CEO Patricia Jones welcomes any questions that you may have, by email to patricia.jones@cfs-ab.org or by telephone at 403-205-5200.

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